It may not possess the most exemplary writing or editing in the entire world, but this is a story that will leave you with your jaw on the floor due to its unrestrained greed. The tale unfolds with a cast of characters whose insatiable desires know no bounds. Their actions are driven by a lust for wealth, power, and possessions that leads them down a path of moral corruption and destruction. As the story progresses, we witness the lengths to which they will go to satisfy their greed, sacrificing relationships, principles, and even their own souls. It is a cautionary tale that serves as a reminder of the dangers of allowing greed to consume us. Despite its flaws in writing and editing, the sheer magnitude of the greed depicted in this story makes it a truly unforgettable and jaw-dropping experience.
Having read Barbara Amiel's version of events first, I then turned to Tom Bower to get a bit of balance. As you might expect, the two versions represent extreme positions on the see-saw.
If we are to believe Bower, Black is a megalomaniac who, having once found a way to siphon large amounts of tax-free cash from his business (the so-called non-compete clauses), pursued this strategy relentlessly and brazenly in defiance of the law and the increasing concern of work colleagues and shareholders.
Black's dilemma was - how to spend money that is in the business without having to pay tax on it. The difference, though, is that Black only owns 18 percent of Hollinger, so really has no right to extract the sums we are talking about. One figure mentioned is circa 74 percent of the net income of the business over a 5-year period. If true, that really is quite shocking.
So why did he do it? He had a great business. He was the owner of the Telegraph and many other American newspapers. My view is that "his feet left the ground." He was so impressed by the Billionaire set and he so badly wanted to be one of them (they thought maybe he was) that he lost all sense of proportion and reality where money was concerned. He forgot that to make money, you have to make sure income outweighs expenditure. His wife no doubt puffed up his sense of himself. Moreover, his was a personality which responded eagerly to flattery and thoughts of world domination. He leapt wholeheartedly from the solid ground up, up, up and then down into the abyss.
Truly, this is a story of Hubris. Black deserved to be cut down to size, and he was. Of all the things in the book that struck me, the most telling was Black's lack of family loyalty. He missed his brother's 60th (the saddest party I ever attended, says his first wife), and at no point does it appear he was trying to build a dynasty for his children. It was all about Conrad Black.