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Script for Herman Cain Bad Businessman's Life
In 1984, Pillsbury puffed up their stock value, with apparent profits and success, of a rapid expansion, to nine hundred and eleven Godfather's Pizza stores.
By 1986 Pillsbury Corporation needed a hatchetman, to fire people, and to close down unprofitable mistakes which they had made with Godfather's Pizza chain. They called in Herman Cain, prized for his ruthless methods. Cain slaughtered restaurants, created to pad the corporate stock value, and by 1988, under Herman Cain's meat-ax, Godfather's closed approximately 200 restaurants, and eliminated several thousand jobs.
The Godfather's division made a small profit for the first time in three years. Pillsbury had polished the turkey enough to make it attractive to Wall Street again and happilly sold off this loser to an investor group composed of Herman Cain, and some Godfather's senior managers, and to Citibank investors.
Godfather's had slipped from third place to fifth place in the pizza chain ranking. So much for the myth that "Cain turned around Godfather's pizza chain." The chain never again had the volume, never again got to fourth place let alone reclaim third place, never had the earlier profits, or never again had the number of stores which it had before Cain. Currently, the remnants of Godfathers Pizza is less than 600 stores, and Cain did not profit much from his tenure there -- his net worth statement shows nothing special concerning any nest egg or stock holding attributed to Godfathers.
Godfathers is the only success, or claim-to-fame, for Herman Cain as a businessman. Everything else is failures, and is usually omitted from Cain's history by his own people.
In 1994, while still President and CEO of Godfather's, Herman Cain became president of the National Restaurant Association (NRA) and began his active political career, as a speaker and a highly-paid lobbyist for the food industry, while maintaining his title as chairman of Godfather's. His Godfather's CEO duties were handed over to President Ron Gartlan.
Herman Cain cost the National Restaurant Association, $80,000, for two sexual harassment settlements, in 1999, and his employment contract was terminated six months early, and was never renewed. (note: this fact is reported around the internet, but not confirmable.) During this time Herman Cain had other involvements.
He became a Jack Kemp Republican supporter in 1996, while still involved with Godfathers and the National Restaurant Association. Herman Cain created some sexist radio spots, one calling women "hoes" during a period of his life while he was groping women seeking employment, and sexually harassing women already working for the N.R.A.
As he was dying, Cain's choice Jack Kemp's, "Empower America", organization membership list, was transferred to the Koch Brothers "Citizens For A Sound Economy", (C.S.E.), in 2004, providing one linkage between Cain and Koch. C.S.E. morphed into Freedomworks and "Americans for Prosperity" in 2004, and Cain became employed as motivation speaker for AFP in 2005.
Cain's 1988 association with Citibank was fruitful, as Citibank's earlier version had co-created the Federal Reserve system in America, was named deputy chairman, and a director of the Kansas City branch, of the Federal Reserve Bank, one of 12 branches nationwide, between 1989 and 1996. This partially overlapped the time at the NRA.
RJ Reynold's Organized Crime Tobacco Mafia was at that same time named RJR-Nabisco. The Nabisco Holdings Corporation named Cain chairman and chief executive officer to their board of directors. (note: this fact is reported around the internet, but not confirmable.) Subsequent Federal trials and convictions showed that the RJR-Nabisco Corporation was deeply involved in a 50-year on-going felony fraud R.I.C.O. organized crime, and only fellow conspirators wetre promoted to high ranks during this time. "Godfather" Cain was top boss of a since-convicted in court Racketeering serial-murder corporation, which was involved in the killing of 3,000 Americans every single day.
Cain was helpful to the tobacco mafia in organizing anti-reform smoking political actions of the National Restaurant Association across the country. This would bring him into increasing closeness to the Koch Brother's orbit, as the Koch's were activist prime operators of the (since convicted of felony) tobacco mafia.
Cain has been on the board of directors of several companies, including Aquila Inc., Nabisco, Whirlpool, Reader's Digest, Hallmark Cards and AGCO Inc. Likely some of these were return favors for services provided to the corporate tobacco mafia.
On the Board of Whirlpool home appliances, Cain oversaw the takeover of rival Maytag, then the year 2006, slaughter of 4,500 jobs in Newton, Iowa, as the American, washer and dryer factory, was moved south to Mexico.
On the Board of Directors of Aquila Energy, Cain helped steer the company in the same direction as Enron. Employees were suckered into putting their pensions and life savings into Aquila stocks, which lost it's value when Enron collapsed the market for energy scammers. Cain's board of directors was sued by stockholders and employees for ten million five hundred thousand dollars. A private settlement was reached without details being made public, but Aquila was destroyed ultimately and no longer exists. Most employees lost their jobs as parts of the company were sold off to other energy companies.
Once again Cain was in the boss's circle of a losing corporate entity with massive job losses. In reality, Cain has been the kiss of death for some of those corporations associated with him.
According to his personal financial disclosure, Cain supplements his income by being a board member for several large corporations. As a board member, he collected $202,500 from Agco Corporation, a farm products company, and $259,008 from Whirlpool Corporation (including options and a board salary). A review of stimulus spending records reveal that Cain’s companies have eagerly accepted stimulus money:
– Agco Corporation received up to $5 million of stimulus grants to develop “supply systems to handle and deliver high tonnage biomass feedstocks for cellulosic biofuels production.” Rich Koch is Chairman of Agco.
– Whirlpool Corporation received a $19,330,000 stimulus grant from the Department of Energy to develop SmartGrid solutions.
– Whirlpool launched a special offer to encourage customers to take advantage of the stimulus program’s energy efficient appliance program. The company advertised that certain Whirlpool, Maytag and KitchenAid appliances are available for rebate through the $300 million rebate program authorized by the stimulus.
– Whirlpool also received two stimulus grants of $2,042,700 to develop next generation energy efficient refrigerators.
One of Cain's corporations did not appear to receive any tainted stimulus money. According to his disclosure, Cain received $120,000 for his role on the board of Hallmark Cards Inc, the holiday greeting card company.
