Supermarket Coupon Tycoon Accused Of Bilking Clients Out Of $250M

Wall Street Journal:

For years, Chris Balsiger ran the nation's biggest clearinghouse of discount coupons redeemed by consumers at supermarkets. But he still didn't care too much for the industry.

"It's a lying, cheating, dirty business," he says.

Now the 54-year-old multimillionaire is facing a 27-count federal indictment, charged with leading a scheme that bilked some of the nation's largest coupon-issuers out of at least $250 million. He denies the charges.

Read the whole story: Wall Street Journal

Comments

[booker52]

10:31 AM on 02/17/2008

Greed!

[themodernleader]

08:32 AM on 02/17/2008

In an organization corruption begins at the top. Such corruption gradually spirals down the various levels of the organization.
Incompetent managerial practices also begins at the top and permeates the entire organization.
Organizational line and staff members measure their own leadership behavior on the performance of the CEO. Our Chied Executive Officer is the President of the United States. The past seven years have experienced the most incompetent, corrupt executive administration in Ameerican governance. Management of line and staff membership from top to botttom has become demoralized, dysfunctional, and even corrupted in many instances, as performance and productivity declines.
The moral of this tale: Appoint a competent, courageous, honest chief executive and legislative and judical leaders at the very top so the organization will function towards marked performance and achievement towards its mission statement--the Preamble to the Constitution.

[truthyguy]

07:31 AM on 02/17/2008

$250 Million. Hey. A guy has got to live.

How about a $1,000 fine and probation?

[Tatiner]

10:43 AM on 02/16/2008

Gee, I don't know what to make of this story. A capitalist ripping off the masses? A greedy thief accused of theft? Who could have thought of such a thing? I'm shocked, shocked?

You know that series that runs on the bottom right of the Times Op-Ed pages, you know: the one paid for by a lobbying group of American corporations whose always going on about how the media fosters an inaccurate view of capitalists, that they're selfish, lying thieves?

Do you think THIS story here could have something to do with that misconception? Who knew: dishonest capitalists! What won't they fabricate next, those bastards in the press!