\he-‘se-shn\ (more…)
n. A government organization whose personnel frequently accept high-ranking positions within private enterprise (and vice versa)
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Corporate kleptocrat
(kôr’-pr˘ıt kl˘ep-t˘o- kr˘at’):
n. A senior executive with a recurrent urge to steal from an organization without regard for need or profit
Recent examples: Conrad Black’s aristocratic tastes got the better of him. In fine Dickensian style, he supposedly feasted on fattened goose and tossed his shareholders the bones. The expenses he allegedly charged to his company, Hollinger Inc., topped $500 million and included an elaborate birthday party for his wife, Barbara Amiel ($40,000), three dinners with Henry Kissinger ($30,000) and a refurbishment to his Rolls Royce ($90,000).
Closer to home, Nick Lysyk, the Edmonton middle manager who embezzled $16 million from the Bank of Montreal, fancied himself not so much a Charles Dickens character, but something out of 1001 Arabian Nights. A good portion of his stolen funds went to a 14-woman harem of escorts and erotic masseurs. His favourite concubine, Lillian Green, was rewarded with the largest share of his plunder: $3.4 million in properties, cash, gifts and vehicles.
