The company bails out the chairman by buying his 4.5M shares at a premium, while shareholders are left holding the bag for a 35 percent drop.
And then they have they nerve to say it was part of a "planned buyback." The buyback was supposed to be on the open market, not to bail out a doddering old fool and screw shareholders.
What has Malone done this year? Oh, yes, he EXPANDED the size of the BOD to put his worthless son on the board. Another shareholder screw job.
Malone is just Angelo Mozilo without the tan.