After being booted from his baby Superior only 5 months after selling it to outsourcer ACS, Richard Helppie is claiming that he retired and that he’s not even a little miffed. However, there’s touchy feely niceness and then there’s business. Last week Helppie sued ACS (and Superior) for a chunk of change.
Helppie contends he is owed $770,000 in separation and bonus payments plus stock options under terms of an employment contract in place before ACS bought Superior. In an answer filed Aug. 10, ACS denied the allegations and also filed a counterclaim that said Helppie was awarded a $1.47 million “change of control” payment in exchange for him voiding the employment contract.
Of course, given the amount of red ink that Superior bled for five years from 1999-2004, it’s a wonder that there was a company there to sell to ACS in the first place. I just can’t decide if that was Helppie’s achievement or his fault!