If Henry Blodget was trying redeem himself with his new book, he failed miserably. In fact, the book reinforces the idea that he is a slime-ball. But recently Herb Greenberg sat down with two ex-cons who have gone a long way toward redeeming themselves: former Zzzz Best Carpet conman Barry Minkow and former Crazy Eddie CFO Sam E. Antar. I have also spoken with these men and, in speaking with them, one thing becomes clear: These two are living proof that people really can change. When you look at the work they've done since they set off on the road to redemption, I would argue they have more than made up for the damage they've done.
They also offer valuable advice for investors. From Greenberg's piece, Mr. Antar says: "Watch how management handles bad quarters, earnings disappointments, criticism, skepticism and cynicism. Do they start by saying, 'We take full responsibility and make no excuses' -- only to follow by carefully worded innuendos, excuses and deflection? Do they question the integrity of those who ask questions?"
To learn more about these two amazing people, visit Barry Minkow's website and Sam E. Antar's site, a must for understanding white-collar crime.
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