The Detroit Free Press reports that Kmart Corp. has subpoenaed a number of former employees in its investigation of possible wrongdoing by previous management.
Kmart reportedly is preparing to sue “individuals who recklessly managed the company,” according to the Free Press, and who contributed to the company’s bankruptcy filing almost a year ago.
The paper reports that one of the people subpoenaed was William Wulfers, former president of the company’s southeast division, who was one of more than two dozen executives who received $28 million in loans that may be forgiven by the company. Among the questions he was asked, according to the paper: how often he used the corporate jet, how much he was reimbursed for relocating to Michigan. whether he or his family received any gifts related to his association with Kmart, and if he, while a Kmart employee, ever had contact with anyone from Wal-Mart. Wulfers also was asked to turn over his 2001 and 2002 personal calendar.
Kmart reportedly is preparing to sue “individuals who recklessly managed the company,” according to the Free Press, and who contributed to the company’s bankruptcy filing almost a year ago.
The paper reports that one of the people subpoenaed was William Wulfers, former president of the company’s southeast division, who was one of more than two dozen executives who received $28 million in loans that may be forgiven by the company. Among the questions he was asked, according to the paper: how often he used the corporate jet, how much he was reimbursed for relocating to Michigan. whether he or his family received any gifts related to his association with Kmart, and if he, while a Kmart employee, ever had contact with anyone from Wal-Mart. Wulfers also was asked to turn over his 2001 and 2002 personal calendar.
- KC's View:
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Gonna start getting even uglier out in Troy, as the finger-pointing starts to take on near-epic dimensions.
Except in this case, it sounds like there were a whole lotta foxes guarding the chicken coop.
And the ultimate irony: one of the foxes who occupied a seat on the board of directors, James Adamson, now is leading the company and, presumably, sanctioning the finger-pointing.
