| Coruscant_Journal | Date: Sunday, 03 Jul 2011, 0:57 AM | Message # 1 |
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Darres Verilia: Moff or Magnate?
Eos, Cadavine Sector — With a controlling interest in a Fortune 5000 company, and as the owner and CEO of several other companies and with a recent profile in Forb's magazine, one might think that Darres Verilia is a commanding figure in interstellar business. But in fact, he is Moff Verilia of the Cadavine Sector, who has acquired—along with his various companies—an uncemented position in a skeptical business community.
Verilia's interest appears to be in mining. In recent months, he has purchased no fewer than two mining companies (both of them struggling, financially), and has founded two more—the Eos Productions Company, an umbrella organization based in the Cadavine Sector that encompasses his other start-up, the Glacial Ice Mining Company. While the latter seems to be an attempt to fill a niche market, the rest of the companies represent an attempt on Moff Verilia's part to compete in the more reliable ores market against titans like the Rim Company, or "RimCo."
The exception to the rule is the widely respected Xerrol Corporation, a specialty arms company in which Verilia has purchased a controlling share of 51%. Unlike his other ventures, however, of which he is himself the chairman and CEO, he remains only a shareholder of the Xerrol Corporation, and its board of directors resisted Verilia's attempt, last month, to consolidate Xerrol under the umbrella of Eos Productions.
It's easy to see why Verilia would be interested in consolidation, however. Two of his mining companies—Mensix Mining and Nemlor Minerals—were considered to be in dire financial straits when Verilia purchased them. He has since invested tremendous amounts of money (invariably his own) into the companies, renovating, for example, Mensix Mining's operations on the planet Mustafar. Combined with his investment in start-ups like the Glacial Ice Mining Company, no one doubts that Verilia has spent a significant amount of his not inconsiderable fortune and is eager to see his gamble pay dividends.
But will it? With his hand in so many companies, it seems likely that one or more of them will, indeed, pay off. If Moff Verilia is willing to play the long game, it's not impossible to imagine that he can negotiate a course in which most, if not all, of his companies under the umbrella of Eos Productions show marginal profits. Business leaders, though—particularly those in the mining industry—have expressed concern over Verilia's aggressive tactics and the possibility that he could use his influence as an Imperial Moff to maneuver himself onto the boards of still more companies.
In Verilia's profile in Forb's, Drayson de Vega, the CEO of Verilia's competitor, "RimCo," casts doubt about what many say is a conflict of interest. "Mensix and Nemlor have reputations, now, as [sorts] of 'pseudo-parastatal' enterprises," de Vega said, "That is, investors don't know whether these are private enterprises or government enterprises. The question is whether Moff Verilia can keep his responsibilities as a Moff separate from his responsibilities as a chairman and CEO, and I think that's a question that many investors will have before they invest, and many customers will have too, before they buy from Mensix, Nemlor, or the rest."
Some Imperial officials have expressed doubt, too. Geoff Cole, the Moff of the Abrion Sector, was unavailable for comment, but one of Cole's aides told The Coruscant Journal that "the Moff [Cole] is concerned about divided loyalties. A Moff has an obligation to the Empire and to the people, and a CEO has an obligation to his shareholders. It's naive to suppose these obligations won't ever clash with each other. And when they do, which side will Moff Verilia be on?"
"While he [Cole] doesn't accuse Moff Verilia of anything," the aide explained, "this is his concern."
Sate Pestage, the Grand Vizier of the Empire, declined to comment. His office insisted to The Coruscant Journal, however, that Moff Verilia had violated no laws. This is undoubtedly true, but nonetheless it is clear that Verilia will face obstacles as he continues to make inroads into the ores market. Whether he will be successful in doing so remains to be seen, but one thing everyone seems to agree on—the stock price for Eos Productions is the one to watch. As of the close of trading this afternoon, it was up over 2 points.
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