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March 3, 2008
The Conrad Black Trial
Conrad Black Goes to Prison
March 3, 2008, Florida. Conrad
Black, 63, left his Palm Beach, Florida mansion at about 9 this morning, and drove to Coleman Prison a to begin serving a 6 1/2-year sentence for fraud and obstruction of justice.
Black's wife Barbara Amiel Black accompanied him in their SUV for the three drive from their home to the prison. Coleman Prison is 50 miles north west of Orlando in central Florida. It is the largest federal prison in the United States.
Coleman prison requires inmates to keep a strict daily schedule starting with getting out of bed at 6:30 am, working at an assigned job from 7:30 am to 3 pm (for 12 to 40 cents an hour - a pay cut from his estimated $12,000 to $40,000 an hour income), and a head count up to seven times a day. His access to a computer and internet access is questionable. He might have to write the old fashioned way - with paper and pencil. Nevertheless he is a resourceful and determined man.
The Legacy of the Conrad Black Trial
Record for a Public Corporation
January 17, 2008, West Vancouver. The Conrad Black trial has left a record in recent corporate history. Never before have four directors of a public corporation been convicted of a crime.
The Pitfalls of Going Public
Donald Trump recognized Black's cardinal error: On Monday, March 19, 2007, Donald Trump said, "In retrospect, he (Black) probably shouldn't have gone public."
No Favours to Corporate Governance Practices Either
The whole incident has not promoted the cause of corporate governance either.
Corporate Governance 101
The Conrad Black debacle was the result of ignoring basic corporate governance precepts:
Conrad Black Trial Pages On This Site