Schadenfreude and Conrad Black

Some snippets from my Tuesday National Post column about the escalating struggle over Hollinger International and Conrad Black:

You can cut the schadenfreude with a knife. The latest twists in the Conrad Black affair have Canadian media sorts nearly giddy with delight over Lord Black’s escalating problems.

Despite rising media claims to the contrary, so far there is no Enron-style scandal here. Yes, over the weekend Conrad Black was pushed out of his position as non-executive chairman of Hollinger International. And yes, a special committee at Hollinger International brought a complaint against Black et al., looking for more than US$200 million in damages.

But this is full-contact, multi-dimensional financial chess played by adults. While Black apparently ran Hollinger International through subsidiaries as if it was his own personal fiefdom, Hollinger International – and shareholders like Tweedy Browne — are up to their own games.