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Re: CUB going BANKRUPT...     22-Aug-09 08:11 pm    
They were morally bankrupt long ago...

Think before you invest in garbage...

Oh yeah, check out the true history of this company:

http://articles.latimes.com/1991-04-20/n...

Former Cubic Chairman Is Sentenced
By GREG JOHNSON, TIMES STAFF WRITER
April 20, 1991

SAN DIEGO — C.C. (Sam) Wellborn, the former chairman of Cubic Corp.'s Defense Systems subsidiary, was sentenced to 18 months in prison Friday for conspiring to bribe a Pentagon official in an attempt to win Defense Department contracts.

The sentencing on two felony counts in U.S. District Court in Alexandria, Va., stemmed from the federal government's continuing Ill Wind investigation into Pentagon procurement fraud. Wellborn, 58, who also received two years' probation and a $15,000 fine, had faced a maximum sentence.
For Wellborn, Friday's sentencing ended a nearly three-year odyssey that began in the summer of 1988, when agents from the Naval Investigative Service and the FBI searched his San Diego office for evidence of criminal wrongdoing.

Investigators, who previously had tapped the longtime executive's telephone, seized a 6-inch stack of documents during their search.

The investigation eventually uncovered evidence that Wellborn was illegally conspiring to obtain information that Cubic could use to bolster its chances of winning hotly contested contracts for "Top Gun" air combat training systems that the armed forces use to train flight crews.

In 1989, Wellborn, who had been officially described as a "target" by Ill Wind investigators, abruptly ended his 32-year career with Cubic Corp. when he resigned as chairman of the Defense Systems subsidiary and as a senior vice president of the parent company.

Cubic founder and Chairman Walter Zable at the time praised Wellborn for providing "32 years of dedicated service." Wellborn, Zable added, would be "sorely missed."

Wellborn's involvement in Ill Wind astounded those who had worked with the longtime Cubic executive.

The investigation "just seemed to be so far-fetched to me," said Raymond L. deKozan, chairman of Cubic's Automatic Revenue Collection Group. "Until the day that (Wellborn's plea bargain) came out in the paper, I always felt like it was a bad dream . . . that one day it would all be over and he would be exonerated."

"It's awful hard for me to believe it because I always knew (Wellborn) as an honest man. . . . He always treated me and everyone around him nicely," said DeKozan, who has known Wellborn for about 20 years. The Ill Wind affair was "one incident that should be balanced against a lifetime of other things," DeKozan said.
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  Subject Author Rating Time of Post (ET)  
 
Looks like the end is about to happen.
earning05 27-Oct-08 04:32 pm  
 
yes I have heard that bankruptcy is about to happe...
captiank62_... 15-Nov-08 08:58 pm  
 
Aye Captian!
broken_drea... 19-Nov-08 08:42 pm  
 
Ridiculous
AnnieS352 (1 Rating) 2-Dec-08 07:54 am  
 
I told you so... TIMBERRRRRRRRRRRRRRRRRRRRRRRRRRR...
earning05 29-Dec-08 03:12 pm  
 
You should have MORON tattooed on your forehe...
ama_wolf (1 Rating) 30-Dec-08 04:29 am  
 
Hi Annie- Have the dogs recovered from ...
captiank62_... 30-Dec-08 06:17 pm  
 
Aye captIan!
earning05 31-Dec-08 03:53 am  
 
CaptIan, Now you are going behin...
captaink62_... Rate it 9-Jan-09 07:25 pm  
 
This company has had 5 layoffs in the last 2 years...
ddm08 (1 Rating) 20-Jan-09 02:11 pm  
 
The idiocy I have stumbled upon here, is trul...
bardonow Rate it 23-Jan-09 04:36 pm  
 
Dude has been posting the same thing for...
layahillary (1 Rating) 29-Jan-09 10:15 pm  
 
Naaaah it's on lots of boards.....
maxine_h Rate it 8-Mar-09 12:49 pm  
 
Nothing new here. CUB was morally bankrupt d...
maotsetungl... Rate it 22-Aug-09 07:49 pm  
 
TIMBERRRRRRRRRRRRRRRRRRRR RRRRRRRRRRRRRRRRRRRRRRRRR...
earning05 Rate it 26-Feb-09 11:17 am  
 
Re: CUB going BANKRUPT...
maotsetungl... Not rated 22-Aug-09 08:11 pm  
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Cubic Corp. (CUB)

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