Party's Over

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Hollinger International reported last week that its former CEO Conrad Black (below, at a costume party with wife Barbara) and other executives took more than $400 million from the company. Black denies the allegations. But the excesses noted in the report, including those cited here, should interest the Securities and Exchange Commission, which has launched its own investigation into the company.

Lavish Galas
The company footed the bills for Barbara Black's birthday party ($42,870), for "summer drinks" ($24,050) and for dinners with board director Henry Kissinger ($28,480)

Hefty Salaries
Black and his executives earned more than $218 million in "management fees." In one case, Black's wife was paid $1.1 million for "little, if any, work"

The F.D.R. Papers
Black had Hollinger "pay $8.9 million to acquire F.D.R. papers and memorabilia without ... board approval." He was writing a biography of Roosevelt at the time

The Apartment Trade
The Blacks "swapped" their flat for one that Hollinger owned in the same building, diverting "a $2.5 million value from Hollinger to Black"

The Jet-Setters
From 2000 to 2003, the report says, the company spent $23.7 million on two jets used "extensively for personal purposes"