Wednesday, August 17, 2005
Employees within companies have recently been facing the ramifications of failing to answer questions of a board or corporation counsel when the company is being examined. If you don't answer the questions, they send you out the door to go find other employment.
United Rentals, Inc. admits here that the Board of Directors "terminated the employment of John Milne, the company's president and CFO, for cause." The cause? Well, "Milne was unwilling to respond to questions of the special committee of the board reviewing matters relating to the previously disclosed SEC inquiry of the company."
Did someone say that companies are now working for the DOJ, FBI, or SEC and helping them secure information for government investigations? Is it better to walk out the door than risk having information you provide to your company turned over to government investigators? Who loses here - the corporation or the individual?
See here for form 8k filing.