cobweb, (4/18/2009 4:44:14 AM)

Poor guy is just misunderstood.

FIRE GUNDY, TULSA (4/18/2009 8:22:07 AM)

He needs to spend some more time on that treadmill

lifesabreeze, (4/18/2009 9:18:47 AM)

I couldn't wait to respond to this story. GW invokes his 5th - this is someone who was loud and boisterous to the point of obnoxiousness - and now he wants to say he was thrown under the bus? Give us a break GW. You act like you had nothing to do with what happened Where were your ethics? You knew exactly what was going on. You micro-managed everything in that office from choosing coffee flavors, deciding placement of plants and artwork to deciding which brand of gum to keep on hand. GW - you were the CFO - that's Chief Financial Officer. You had a duty to the banks and employees but I guess the millions were just too good and looking the other way and making excuses (and now pointing the finger away from you) is much easier. You couldn't be "quiet" about the money you were pocketing - from your fancy house to the Bentley. What a pimp-mobile. Why didn't you speak up and stop what was happening? Because one of the many things you lack besides ethics is your "family jewels".

Graychin, Eucha (4/18/2009 9:59:45 AM)

Forming a circular firing squad.

don't be fooled, (4/18/2009 10:16:12 AM)

Target? He should be and justly so. Thrown in front of the bus? By all means! Then run over, backed up on and run over again. Wallace borrowed and spent the funds. TK tried to trade enough to keep up with it. Corporate giving was to get the SemGroup name out there, not because they were at all charitable. Check it out, every time they gave $ to charity was clearly after they borrowed it. Freeh has called it like it really was! Ironic, Freeh is making a fortune, discovering how two (2) greedy *&$#'s screwed over their employees, their friends, their lenders and the public. Wallace & Kivisto need to rot in hell. Good job Freeh, please see that they do. You will then deserve every dime earned picking over the bones of what could have been a great company. Oh, has anyone tried to get character references from the other companies that Wallace spent time? Note: "spent time" not worked. That would be interesting.

Maine Man, (4/18/2009 10:24:46 AM)

If you know Wally you realize his legal strategy is shaky, but based on honesty. He can argue, "I'm an incompetent idiot, an obnoxious little bridge-troll in a suit. It was known by all with whom I worked that I'm an idiot. Lenders and investors knew, or should have known, that my salary and bonus payments were bribes for looking the other way, not payments for services to the company. Ergo, none of this is my fault. As regards the 'SemBabes' subsidiary, look at my picture, it's obvious I could have never had a close, personal relationship with Mia or Anna. The only person around Sem who pretended to believe in me was the kitchen designer guy and even he called me Wall-Ass, for goodness sake."

don't be fooled, (4/18/2009 10:25:28 AM)

Meant to say three (3) greedy *$#@&'s. Foxx being the third. Why in the world is he still there? He has no ethics either. Freeh, did you look at his expenses and money borrowed from the company (debtors)?

LocalBoy, B.A. (4/18/2009 11:24:56 AM)

Song for the day(?): Hang 'em high

Ray, (4/18/2009 1:11:41 PM)

These comments from employees who knew this guy are interesting. Keep 'em coming. It's a good glimpse into the innerworkings at Semgroup ~something only the employees really know.

Lawyers always throw someone under the bus to keep the other criminals on the sidewalk. I can't feel too sorry for this guy. $32 million in 3 years?

I'd like to see all the top people and their mistresses lie down and get run over.

O&Gtrader, ft. worth (4/18/2009 1:15:37 PM)

My Methodist minister used to say, "If you want to know what God thinks about money, just look at who He gives a lot of it to."

MaineMan: Your "SemBabes" comment made me spit out my coffee. Well played!

human1, Tulsa (4/18/2009 4:25:14 PM)

Isn't mismanaging money in investment or banking a requirement for a cozy government contrat ?

It's not what you know but who you know, and some of the Shady Banker/Investors seem to know all the right pockets to fill!

O&Gtrader, ft. worth (4/19/2009 11:15:09 AM)

Kivisto's lawyer said Kivisto wasn't going to be made the scapegoat a while back.

Out of all the people who plead "the fifth" regarding SemGroup financial activity, who do you think will start "singing" first?

Tough but Fair, COWETA (4/19/2009 11:48:36 AM)

Plenty of blame to go around in this fiasco - and the three "top dogs" are just the candles on the cake. Let's hope this investigation also drills down to the outside players who participated in this crooked company's demise - including the banks who kept on lending money without ever taking a hard look at this company's "real" books, and the politicians who hobnobbed with these guys and touted their "good citizen" qualities across the state. I'd vote to build a new prison in Oklahoma if I thought we could get every single one of the parties to this deal behind bars. They all stink to high heaven, and we need to run these sorry "business moguls" out of Oklahoma for all time.

Hawktalk, (4/19/2009 7:56:59 PM)

Hay fatboy:
With all those millions, care to buy back my bogus SGLP stock ?

JBP, TULSA (4/20/2009 9:34:44 AM)

Invoking "the Fifth" is the key phrase to this pathetic attempt at evading the truth. Common sense should dictate that the CFO - of ALL people - should be held responsible for the financial workings of any company. Mr. Wallace once again is insulting our intelligence. I would keep quiet, GW. We're not the stupid "little people" of whom you have always looked down. Your arrogance continues.

MUSTANGSALLYB, (4/20/2009 11:51:49 AM)

This made my day! I guess the lies and deceipt are finally catching up with you GW. You have that same inflated opinion of yourself after all these years. You're a legend in YOUR mind only.
You'll look really good in an orange jumpsuit but it will clash with that OU hat.
By the way, do they take back a Bentley when you can no longer make a payment?

TamW, (4/21/2009 9:00:33 AM)

I remember the story of a Sem employee who worked in their Houston office... She was a single mother who had a sick child in need of a medical device. She could not afford this even with insurance. Mr. Wallace heard of this need back here in Tulsa, made a couple of phone calls and the young mother had the device delivered to her the next day.

OutsideSemGroup, (4/21/2009 11:19:23 AM)

TamW - while it's admirable of you to "defend" GW I note that the medical device, which I believe was an insulin pump, was not paid out of GW's pockets but rather by SemGroup. He was really good about spending company money. Sorry to dash any hope that he was a charitable man - only when it didn't come out of his pocket.

goodthingscome, (4/21/2009 8:23:03 PM)

I know first hand how devastating GW was to employees lives. My spouse worked for him. I know TK looks bad and he did bad things but didn't treat employees with the disrespect GW did!

goodthingscome, (4/21/2009 8:24:16 PM)

I know first hand how devastating GW was to employees lives. My spouse worked for him. I know TK looks bad and he did bad things but didn't treat employees with the disrespect GW did!

O&Gtrader, ft. worth (4/24/2009 9:45:45 AM)

Whatever happened to all the "bosses" that Kivisto got tired of "training" at Koch. (See Aug 3, '08 TW story...)

Did they blow up too?