Book Review – a Matter of Principle

A Review of Conrad down in the mouths A function of Principle Conrad Moffat down(p), former newspaper tycoon, historian and celebrity is an interesting man, to say the least. The topic of his fall from professional, financial and social grace is legendary and is one that tranquillize elicits numerous newspaper columns and debates. The latest matter of interest in his lengthy protracted battle is his extraordinary memoir, A Matter of Principle. Written largely from his prison cell in Coleman Federal Correction Complex in Florida, the loudness is a compelling narrative of his tribulations.With his command of the English language, Lord Black is at once strikingly eloquent, acidly cynical, ferociously angry, and surprisingly funny. However, the book teeters at the edge of being nothing much than a self-glorified memoir, laced with attacks on detractors. In the depression cardinal chapters of the book, Black charts his illustrious newspaper career, beginning from U. K. s Telegrap h to his crowning achievement National Post. And in between his tales of rubbing shoulders with the stiff, he offers his enquire on world affairs, yet almost ironically maintains that he has never exercised his power to sway public policy.He also spares a page-and-half to rant on denim Chretien for opposing his proposed dual citizenship (Black was to be inducted into the British House of Lords). Near the end of Chapter three, the readers are also introduced to some of Blacks questionable activities the sale of Hollinger Inc. s newspaper properties to CanWest, and the resultant non-compete payments. Chapter four marks the beginning of Blacks misfortune as he describes the investigation by Hollingers audit mission into the companys funds.The Hollinger board, summarized by Black in painfully boring detail, lastly dismisses him as CEO and charges him of accepting unauthorized non-compete payments from companies buying newspapers from Hollinger. The next three chapters explore Black s tarnished public image and dwindling personal wealth as he is relieved of all directorships and is permanently ousted from Hollinger International. In Chapter 7, Black is charged with new S. E. C. civil infractions following the release of A Corporate Kleptocracy, a musical composition (by Richard Breeeden) on Hollingers practices. The momentum picks up again at the conclusion of chapter 9, asBlack recounts being secretly videotaped while clearing out his Toronto offices his actions land him with charges of obstruction of saveice. Over the next four chapters, Black recounts his trial process and ends his chronicle with the final hearing in Chicago that found him guilty. One of the first weaknesses a keen reader bequeath spot is that Black struggles to find an tolerate voice in the two hundred pages of the book. He attempts at a conversational tone, only when comes off as oddly detached. The lack of a authorized theme is also due to Blacks breezy narrative that dashes from o ne key life event to the next.He jumps from his university days, to advising the Prime Minister of Britain, to the 1996 London bombings. though enjoyable, these are only longing reminiscences of an imprisoned man, rather than key elements of his harrowing journey that forms the remainder of the book. In fact, it is only in page 269 that readers see Black defending the principles he alludes to in the books title. That being said, these sundry recollections offer readers a respite from detailed corporate machinations, which are also flummox in the first two hundred pages of the book.Black risks losing his readers when he delves into corporate debt reorganizations and share buy-backs that are both boring and confusing to the non-business mind. Hence, the narrative remains almost break up in the first third of the book, until Black is stripped of his title at Hollinger International, setting in motion the events that form the bulk of the book. The biggest flaw in the book is Blacks un mistakable bias, as he categorizes individuals based on their stance on his guilt or pureness those who believe in his innocence are virtuous, while those convinced of his guild are either wrong or misguided.In his own words no one except me was telling the truth, but it wasnt clear who was lying and who was merely mistaken. Similarly, when court decisions go against him they are hopelessly wrong and indicative of the flaws of the judicial system, but when a decision is make in his favour, it is absolutely correct and undisputed. While it is obvious that the prosecution and conviction of Black is the prism through which the story is told, it becomes tiresome when the readers are incessantly teach to view Black as the lone voice of truth in the midst of the deceit and lies.Moreover, the means and the extent to which Black denounces his opponents, perceived or accepted can be quite off-putting. In Blacks story, his greatest villains are Richard Breeden and David Radler. Breeden wa s the former chair of the S. E. C and the man behind the Corporate Kleptocracy report that resulted in Blacks criminal charges. Blacks attack on Breeden is quite spiteful Black describes him as Round, flabby face dull, lifeless eyes behind thick spectacleswith the bloodless, piscine coldness of someone whose power vastly exceeded his intelligence. Radler was a long-time associate of Blacks who made a plea bargain with American prosecutors in exchange for providing evidence against Black. On Radler, he says It was naturally a very strange experience listening to his absurd incrimination of me but also seeing his squinty, evasive eyeshe looked like a man bound for the gallows, worn down as oftentimes by a knowledge of his own wretchedness as by the impending punishment Expectably, Blacks acid remarks are not just for Breeden and Radler he slams all those involved in his downfall. On Paul Healy, Hollingers V.P. of investor relations, Black says he had a little porcine face so bouffa nt it made his spectacles seem smaller a maladjusted, scheming courtier, alternately fawning and snarling at the hand that fed him for so long. Black specifically saves a lot of firepower on Eddie Greenspan, his lead defence attorney who fizzled in American courts he says The deterioration of such a man is objectively sad, and is made more so by the inelegance of his acts of denial and displacement of responsibility for his own shortcomings and aggressive paranoia. On the jury that convicted him, he says, I was unprepared for such a wage hike of mainly monosyllabic and listless people. Such vilifying attacks are a few of many examples of Blacks verbal war on his critics. While his raise towards his critics is understandable, what is frustrating is his tendency to engage in baseless reporting. For instance, he declares that twenty percent of his fellow inmates were entirely innocent, a number seemingly plucked altogether based on his conversations with his fellow inmates.Also ac cording to him, the U. S. government fills its prison system with unemployed visible minorities in order to keep unemployment rate down. Black risks losing his already damaged credibility with such uncorroborated statements. For all of the books weaknesses, Black redeems himself, at least partially, with his superb prose and infectious ardour. The book is a tasty read simply based on its literary merits. Some paragraphs are worth rereading just to be admired as works of art.The paragraphs in which he expresses his love and loyalty for his wife, his late brother or even deceased friends are quite moving and stand out as great examples of his powerful prose. Indeed, in the hands of a less assured writer, the story of Blacks clash with his opponents would have been a bombastic mess, but after his sign struggles Black offers a gripping tale of hisordeal. When Blacks passion for defending his honour is coupled with his mastery of the language, what you get is a riveting experience.The capacious ethical issues raised in A Matter of Principle revolve around the integrity of senior executives and ethical corruption. Blacks case is as much about breaking the law as it is getting entangled in ethical gray areas. Tweedy Browne, a U. S investment unwavering that owned 18% of Hollinger International accused Black and other directors of awarding themselves with unauthorized management payments and millions of dollars of non-competition fees through Ravelston, Blacks personal equity company.Black was at last found guilty of a slew of charges including fraud, money laundering and obstruction of justice. Given that Black has penned the book himself, he defends his actions vehemently. He maintains that the Audit Committee explicitly approved the non-competition payments (totalling $80 million). On the management fees, he states that the total of what we received had been sharply reduced when we shrank the company. Overall, the ethical issues in the book highlight the impo rtance of fiduciary duty the duty of a senior executive to the shareholders of the company.The book also highlights the power of intelligent shareholder activism, as practiced by Tweedy Browne, which ultimately resulted in Blacks downfall. Ultimately, A Matter of Principle is a powerful read. While the book is bogged down with bilious attacks against Blacks critics, it packs a powerful punch. Blacks eloquence in describing the viciousness of the prosecutorial efforts and the harshness of his punishment is breathtaking. His continued insistence on his honesty and innocence is also admirable.His function with this book does not seem to be to sway readers opinions, but rather to settle accounts. Whether he has achieved this or not, one this is for sure, Conrad Blacks story will not fade from memory for many years to come. 1 . (pg. 46-90), A Matter of Principle 2 . (pg. 182-198) 3 . (pg. 142) 4 . (pg. 135) 5 . (pg. 392) 6 . (pg. 401) 7 . (pg. 418) 8 . (pg. 277) 9 . (pg. 465 ) 10 . (pg. 514) 11 . (pg. 146) 12 . (pg. 96) 13 . (pg. 97)