EchoStar Communication Corp. employees and stockholders should pressure the
company's board of directors to investigate how the company's finances have been
impacted by its bid to acquire DirecTV Inc., the National Action Network and the
National Association of Black Organizations said Monday.
The management style of EchoStar CEO Charlie Ergen is similar to
those that led Enron Corp. and WorldCom Inc., added Sam Riddle, NAN/NABO crisis-management
consultant. "Charlie's pokerlike gamble failed," when the Federal
Communications Commission last week rejected the proposed merger, he added.
"Will EchoStar employees and stockholders be left holding the bag for
Charlie?" EchoStar's board should demand Ergen's resignation, Riddle said. "The
SEC [Securities and Exchange Commission] needs to investigate the risk to EchoStar's employee pensions as a result of
Charlie Ergen peddling satellite-TV snake oil in a vain gamble to create a
monopoly that would have savaged satellite-TV consumers."
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