Just for Feet was that gift that keeps on giving throughout 2004. Kinda like Herpes.
The fallout from the implosion and alleged management improprieties there resulted in a number of highly visible industry executives sentenced for charges related to an alleged scheme to inflate sales and earnings figures.
The injustice of the year had to be the March sentencing of former adidas sales executive Tim McCool to five months in prison and the same period of time under home detention. He reported to a federal facility in May and was home with his family this last fall.
SEW ranted about this all year as all others charged in the case received lighter home detention sentences and fines. SEW was not advocating for tougher sentences for all involved, quite the contrary. We were looking for equal treatment for Mr. McCool, his wife, and five children. The inequity really came to a head when even the Just for Feet executives directly involved in the scheme received lighter sentences than McCool.
SEW wondered aloud if the U.S. Attorney in Birmingham was going for the Eliot Spitzer award for most perp walks in a year. I guess we all feel a little safer today knowing that McCool, Tom Shine, Steve Dodge, and Jon Epstein were all locked up in their homes. Perhaps a nice job over at Homeland Security is in store for her.
JFF also had an indirect impact on the demise of Footstar, Inc. and the liquidation of its athletic unit. While the responsibility here clearly lies with FTS for buying into bad leases, we cant help but think theres a curse.
By the way, Harolds never been charged. Nice…
