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Another Swindle

Circuit City dropped $4.2 billion as it declared bankruptcy

So What Is Bankruptcy? This is one of the oldest Zio-tricks in the books. You let your payables go unpaid (rent, taxes, employees, utilities, FICA, and suppliers). Next you place some hefty orders from your top suppliers, like Sony's $5,000 TV's. Naturally the top goods wind up going out the back door before you close. Then, there is the $50 million of payments to Feldman consulting, Jacobs storage, Seigel LLC attorneys, and other special friends. And who controls the employees' 401K's? Did Circuit City invest the employees retirement funds in some real estate owned by their pals? Now you boys have no doubt received some hefty bonuses, and golden parachutes. And naturally the original owners saw this disaster coming, and bailed out at the top. Then you have to wonder if Bennie Fine, and his pals, didn't short the stock before negative announcements. Bankruptcy can be a beautiful thing if you know what you are doing! The neat thing is they will reopen their doors in a week. The Zio-airlines did this, Ichan bought TWA and can the unions, creditors had their hands out, the stewardesses went from $50k a year to $18k. 6

The Chrysler swindle

The Enron Rape

Judicial Index