Bankrupt founder to stay on Pay By Touch board
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The financially and morally bankrupt John Rogers remains involved with the company he founded, Pay By Touch employees learned during an all-hands meeting Friday. Though the company no longer employs the once-convicted felon and confirmed bully, Rogers will remain on the board of directors. How could this be?
Answer: In a bankruptcy, shareholders' equity disappears faster than blow up an addict's nose. But Rogers cleverly arranged matters so that he's also a creditor, giving him pull in the bankruptcy proceedings.
Grant Rogers this much: He's a man who keeps his promises. But when he once said, "I'll fucking mess you up," I'm pretty sure he meant his old girlfriend, not Pay By Touch's 750 employees.