Wednesday, March 21, 2007
Two high-profile trials got underway this week. First, the trial, in Chicago, of Lord Conrad Black, accused of looting millions of dollars from the company he formerly controlled, Hollinger International, see NYTimes, Trial Begins for Ex-Chief of Hollinger; WSJ, Conrad Black Fights Back at Trial. Second, the trial in Colorado of Joseph P. Nacchio, former CEO of Qwest Communications, accused of selling over $100 million of Qwest stock on inside information; see NYTimes, Insider Trading Is Disputed at Trial of Ex-Chief of Qwest, WSJ, Nacchio Trial Tests Emotions. Both promise to be interesting, although the opening statements of each side sounded predictable. Prosecutors call the defendants' conduct "cheating," while defense counsel portray both men as "family men."