CEO murdered by mob of sacked Indian workers

[Richard]

Rhys Blakely in Bombay

Update: Outrage as minister says attack 'serves as warning'

Corporate India is in shock after a mob of workers bludgeoned to death the chief executive who sacked them from a factory in a suburb of Delhi.

Lalit Kishore Choudhary, 47, the head of the Indian operations of Graziano Transmissioni, a manufacturer of car parts that has its headquarters in Italy, died of severe head wounds on Monday after being attacked by scores of laid-off employees, police said. The incident, in Greater Noida, followed a long-running dispute between the factory’s management and workers demanding better pay and permanent contracts.

It is understood that Mr Choudhary, who was married with one son, had called a meeting with more than a hundred former employees who had been dismissed after an earlier outbreak of violence at the plant. He wanted to discuss a possible reinstatement deal.

A police spokesman said: “Only a few people were called inside. About 150 people were waiting outside when they heard someone from inside shout for help. They rushed in and the two sides clashed. The company staff were heavily outnumbered.”

Other executives said that they were lucky to escape with their lives. “I locked my door from inside and prayed they would not break in. See, my hands are trembling even three hours later,” one Italian consultant told reporters.

More than 60 people were arrested and more than 20 were in hospital yesterday.

A spokesman for the Federation of Indian Chambers of Commerce and Industry said: “Such a heinous act is bound to sully India’s image among overseas investors.”

The murder has stoked fears that outbreaks of mob rule risk jeopardising the sub-continent’s economic rise. Thousands of violent protesters recently forced Tata, the Indian conglomerate that owns Land Rover and Jaguar, to halt work on a plant being built to produce the world’s cheapest car, the £1,250 Nano. The move could result in £200 million in investment costs being written off.

Tata stopped work three weeks ago, saying that it could not guarantee its workers’ safety at the factory in the state of West Bengal. The billionaire industrialist Mukesh Ambani said that the Nano crisis showed how protesters were creating “a fear psychosis to slow down certain projects of national importance”. Other companies, including Vedanta, the London-listed mining company, have encountered similar problems in India.

In a statement issued from Rivoli,Italy, Graziano said that some of Mr Choudhary’s attackers had no connection with the company.

http://www.timesonline.co.uk/tol/news/wo...810644.ece

[AndrewX]

Good on the Indians I say... It was only a matter of time before people realized that the only way to achieve true justice is by taking the power back into their own hands.

So it'll be "Curry in a hurry" for any other CEO-and-the-like in future.

All that's left now is for the people to realize they can apply this in obtaining true justice with their politicians and clergy. Once they do, the NWO will be a thing of the past... as will the Illuminati.

[Richard]

I agree. I think something needs to be done with most of the CEOs out there. Their greed is destroying the economy of the whole world.

[AndrewX]

I was screeming this from many many years ago Rick... do you think anyone listened? What most would say is that they have too much power/money and it would not get you anywhere.

Well ask the CEO they murdered and see what he has to say.

Their greed is destroying the economy of the whole world.

... their greed is in fact destroying the whole world and everything in it, not just its economy... this is why they MUST BE stopped at any cost.

To harm or kill an animal for misbehaving is something most good humans couldn't do... I for one.  But CEO's-and-the-like?  Well that's a different beast we are dealing with.

All crap aside Rick, fact is that they NEED NOT conduct themselves in the manner which they do.  You can still be a successful business person without having to commit a crime worse than murder on the people you employ and others.  I say that from personal experiance.  When I closed shop with my business a few years ago Rick, everyone that I had employed in the previous 8 years came to the breakup.  Mate, words cannot express how humbling an experiance it was to have grown men come up to me and hug me as tightly as they would their own dying mother and cry like little children at having lost me.  They all keep in touch with me to this very day.  But keep in mind that the manner in which I treated them, and the level of remuneration I provided them was near identical to those which I would wish others to have bestowed upon me if I were in their shoes.  If I treated any of them in any less a manner, then I assure you I couldn't have lived with myself.  Sure, I could have paid them less and pushed them harder; it would have increased my bottom dollar whilst increasing my personal displeasure.  Do onto others as you'd wish them to do unto you.  I'm afraid that the dollar has not only made them blind, but it has also made them forgetful of what their own mothers' preached to them many years ago.  Once you go against the words of your own mother, you're more than likely to make a massive mistake - pity they don't realize it.

The problem with most business people today is that they have been conditioned into thinking that having NO CONSCIOUS in business is the only way to go... when in fact it is the ONLY WAY NOT to go.

They'll catch up one day, I have no doubt simply because their current mannerisms and beliefs are so inferior that they will self destruct given time.  So long as they keep going as they have they will always be refered to as fools, and justifiably so.

[Richard]

In 1970, CEO salary and bonus packages were typically about $700,000 - 25 times the average production worker salary; by 2000, CEO salaries had jumped to almost $2.2 million on average, 90 times the average salary of a worker, according to a 2004 study on CEO pay by Kevin J. Murphy and Jan Zabojnik. Toss in stock options and other benefits, and the salary of a CEO is nearly 500 times the average worker salary, the study says.
I think the economy would do better if they reduced CEO salaries and increased production worker salaries. Republicans have demonstrated that the trickle down economy doesn’t work. We need to switch to a trickle up economy. icon_anmachen

[Richard]

Knock Out: CNBC Confirms Lehman CEO Punched at Gym

Network verifies reports Richard Fuld was attacked for financial institution's bankruptcy.

By Jeff Poor
Business & Media Institute
10/6/2008 3:59:29 PM


     It seems anxiety from the financial crisis is reaching new highs, but the tipping point for one individual came at the Lehman Brothers gym in the midst of the company’s collapse.

     While former Lehman CEO Richard Fuld was testifying before the House Oversight Committee Oct. 6, CNBC reported he had been punched in the face at the Lehman Brothers gym after it was announced the firm was going bankrupt. CNBC and Vanity Fair contributor Vicki Ward said Fuld was attacked at the gym on a Sunday following the bankruptcy.

     “Frankly, I sat there and listened and I’m with the guy who apparently, the day before Barclays announced they were coming in and Lehman had already filed for bankruptcy, went over to him in the gym and punched him because that’s how I feel when I, you know, when I watched that,” Ward said on the Oct. 6 “Power Lunch.” “I didn’t think he was contrite at all, I thought he was arrogant.”

     Ward confirmed previous reports about the incident that reportedly occurred Sept. 21 and said the information came from “two very senior sources.”

     “From two very senior sources – one incredibly senior source – that he went to the gym after … Lehman was announced as going under. He was on a treadmill with a heart monitor on. Someone was in the corner, pumping iron and he walked over and he knocked him out cold. And frankly after having watched this, I’d have done the same too.”

    Ward determined Fuld deserved the beating based on his testimony before the committee.

     “I thought he was shameless,” Ward said. “I thought it was appalling. He blamed everyone. He blamed, as you say, ‘naked short sellers’ over and over in case we didn’t get the point, when in fact hedge funds like Harbinger had money locked up in Lehman and was shorting it to try and make the most of the money that they already had. He blamed everybody but himself.”

     Lehman Brothers filed for bankruptcy in September 2008 and its assets were later snatched up by the British bank Barclays for $1.35 billion, which included Lehman’s Midtown Manhattan office tower with a $960 million price tag.

http://www.businessandmedia.org/articles...50152.aspx