I don’t know if this is the end or not but someone told me the trucks were backing up to the production lot.
Glenn Beck, Founder of TheBlaze, has one more card to play in his pocket before he has to turn off the lights and that is to sue his former business partner for $13 million dollars; the entire amount of compensation given during 2009 and 2014.
I am not sure that can be done, but you can only try, right? When you read comments like this
From Law News:
“I am embarrassed and saddened it has come to this. It is an ongoing legal matter so you will not hear me speak of this often but as always, I want you to hear it from me,” Beck wrote on his website on Monday.
Beck’s lawsuit comes amid reports of internal financial turmoil at TheBlaze. The complaint alleges between 2009 and 2014, Balfe’s compensation totaled in excess of $13 million.
“This is a shockingly excessive amount that far exceeds appropriate compensation for companies of Mercury and TheBlaze’s size and financial performance,” Eliot Burriss, an attorney for Mr. Beck, wrote in the lawsuit, adding that Balfe never submitted his executive compensation to Mercury’s board of directors.
The complaint also accuses Balfe of “fraudulently causing Mercury to sign an unnecessary lease thereby taking on a $20 million liability.” The paperwork states Mercury currently has a lease for the entire 12th floor of Five Bryant Park in Manhattan.
Balfe is also accused of breaching an agreement which prohibits him from competing with or hiring employees of TheBlaze for three years. According to Red Seat Ventures’ website, all four team members listed on the site came from TheBlaze or Mercury Radio Arts. Red Seat Ventures works with talent and personalities to build media properties.
Attorneys for Mr. Balfe have not yet commented on this lawsuit. The complaint comes amid reports by The Daily Beast thatTheBlaze is millions of dollars in the “hole.” Still, Beck’s radio program remains one of the top syndicated shows in the country, attracting millions of listeners.
Here are a few responses to Beck’s situation:
I know people who have worked with Beck and his everyday practices left some of his former employees thinking “why doesn’t this guy follow through with an idea?” I can see a few million being the mistake of a business partner but suing for $13 million, Beck wants all the money back to save his company and that won’t happen.
What do you think about Beck’s lawsuit? Do you think he will win or do you think this is the final nail in his political chapter? Share your comments below.
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