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Perle Steps Down From Defense Policy Board

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  • Perle Steps Down From Defense Policy Board

    WASHINGTON — Richard Perle, a Pentagon adviser known for his hawkish views on Iraq, has resigned his membership on the Defense Policy Board (search), which counsels the secretary of defense on policy issues.
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  • #2
    Oh Richard please don't leave.

    I love this quote from Perle's lawyer in an ABC news article - Perle is quitting the board altogether so he can sue the news organizations that "falsely accused him of conflicts of interest."

    And I don't think Perle is being upfront about his reason for leaving the DPB. His investigation in an investment scheme involving several million dollars may have played a role.

    From the London Times: RICHARD perle, the former US Assistant Defence Secretary and Hollinger International board member, is under investigation for allegedly failing to disclose bonuses worth about $3 million (£1.6 million) which he received for running an investment scheme, The Times has learnt. Mr perle, a vocal supporter of President Bush, was awarded the money as a reward for investing Hollinger shareholder funds in a series of separate businesses. Mr perle also held a stake in some of those businesses. While the scheme put Hollinger International shareholders’ money at risk, it was never disclosed to them.

    Richard Breedon, who heads a Hollinger committee that is already investigating other undisclosed payments to group executives, is said to be now looking at circumstances surrounding Mr perle’s apparent undisclosed bonus.

    Mr perle was one of five Hollinger International directors who participated in the bonus scheme.

    However, while Lord Black of Crossharbour, the publisher’s founder; David Radler, deputy chairman and chief executive of Hollinger International; Dan Colson, chief operating officer of Hollinger International; and Peter Atkinson, Hollinger vice-president, all divulged their awards to shareholders, it appears that Mr perle has so far failed to do so.

    Failure to disclose such awards represents an apparent contravention of the US Securities and Exchange Commission’s rules. Mr perle, in common with any director of a public company, is required each year to disclose earnings above $60,000.

    Although Mr perle appears to have received the biggest bonuses through the scheme between 2000 and 2001, his takings were never disclosed in the company’s proxy letters to shareholders.

    Mr perle is said to have helped to set up a bonus scheme where 22 per cent of all gains on investments made by Hollinger International went into a central pot that paid bonuses to himself, Lord Black and other company executives.

    Shareholder money was funnelled through a company called Hollinger Digital Inc, where Mr perle was co-chairman. The group was a unit of Hollinger International and was set up in 1996.

    The existence of the bonus scheme, which is understood to be documented and has been confirmed by Hollinger insiders, has not been denied by Mr perle.

    When asked about the incentive scheme this week Mr perle denied that he had received $5 million from the scheme but refused to deny that he had received $3 million, despite being given several opportunities to do so.

    Hollinger International invested $2.5 million in Trireme Partners, a venture capital fund in which Mr perle was a managing partner; $14 million in Cambridge Display Technology, a British-based technology group; and a further $3 million in Onset, where he serves on the board of directors. There were several other investments.

    subscription site so no link

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    • #3
      How bout them Bills, Pace?
      When you say to your neighbor, "We're having a loud party on Saturday night if that's alright with you," what you really mean is, "We're having a loud party on Saturday night."

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      • #4
        Not a great game for the Billikens. The #15 team on the road is definetely a challenge. We beat them last year at their place, but they were too strong for us. I hope we face them again in the CUSA tourney when Frericks can play w/ both arms.

        Still SLU is not out of the NCAA tourney contention yet. If we go 3-0 the remainder of the season I think we squeeze in with a decent showing in the CUSA tourney.

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