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Falsehoods vs. facts

April 23, 2014
Pine Island Eagle

To the editor:

I knew little or nothing about Curt Clawson when I wrote to express my opinion that the vicious campaign of libel and slander on the part of career politicians was simply because they were afraid of him. How right I was.

Falsehood:

He is a modern day robber baron who took over a faltering company.

Fact:

Curt Clawson inherited the company .

Falsehood:

He fired hundreds of people.

Fact:

Curt Clawson fired no one. He closed several factories which were running at such a loss that they would have taken the company into receivership. His ratio of jobs saved and created versus those who lost their jobs is strongly in his favor.

Falsehood:

He took millions of government bail-out dollars.

Fact:

Curt Clawson did not take one cent of government bail-out money. General Motors and Chrysler Corporation, both of which were on the verge of bankruptcy, owed his company millions of dollars. The monies those companies received allowed them the pay their debt to him and was a tiny fraction of the hundreds of millions of dollars they received.

Falsehood:

He bankrupted the company.

Fact:

Curt Clawson filed for Chapter 11 twice, Chapter 11 is not bankruptcy. It is a "time out" to give a company the time to prepare a plan for re-organization.

Falsehood:

He arranged a golden parachute of millions of dollars before he jumped ship,

Fact:

Curt Clawson did not jump ship. He remained as CEO until the company was healthy. The golden parachute consisted of stock options. A share of stock is nothing but a piece of paper until the stock is sold. He has never sold a single share.

Aftermath:

The company is now healthy, profitable and is the largest manufacturer of automobile wheels and rims in the world.

Afterthought:

Curt Clawson showed his character at a meet-and-greet in Bokeelia. A supporter of Dr. Dreikhorn showed up wearing a Dreikhorn T-shirt, Curt called attention to it and thanked Dr. Dreikhorn for waging an honest campaign.

Wayne Holbrook

Bokeelia

 
 

 

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