Dysfunctional Family Businesses: Hyatt Mike Schuster Jul 09, 2009 2:47 am |
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It was decided that the $15 billion was to be split evenly between the 11 cousins. But that wasn't the end.
Liesel and Matthew Pritzker sued their father, Robert, alleging he withdrew the sume of their overseas trust funds totaling $1 billion. The accusation must have held water: The suit was settled for $900 million.
The family fought unsuccessfully to keep these feuds from being publicized, but the Chicago Tribune had other plans.
Recently, Penny Pritzker was expected to be tapped as commerce secretary by President Obama. Penny declined the offer, leading many to speculate her decision was made out of fear of the extensive vetting of presidential appointees -- a process that may have uncovered more creative tax planning.
But that didn't stop the New York Times and Salon.com from exposing some shady practices by the Superior Bank of Chicago -- a major player in the sub-prime mortgage crisis -- while Penny was at its helm.
While the Pritzkers have earned their reputation as bickering fatcats, they should look on the bright side: At least there hasn't been a sex scandal.
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