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Resource ID: #18551
Subject: Business
Source: Business Week
Date: Sept. 3



"For years, the hard-charging executive had run Avant! more like a sole proprietorship than a publicly traded company. His hand-picked board, which included a retired Park Ranger who is friends with his sister and a host of insiders with business deals with Avant!, okayed huge pay packages for Hsu and CEO-like salaries for a son with limited business experience and a former stewardess who was his top lieutenant. The story spelled out suspicious Avant! investments into entities win which Hsu holds a personal stake, the legal stalling tactics employed by Avant! to buy time of for the company, and a PR campaign to raise its image that included the creation of a foundation that has spent twice as much on advertising its good works as it has on actual charity." - excerpt from IRE contest entry form

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