http://biz.yahoo.com/ap/080316/executive_vanishes.htmlExec's Vanishing Mystery Yields No CluesSunday March 16, 12:35 am ET
By Jon Gambrell, Associated Press Writer
LITTLE ROCK, Ark. (AP) -- The stress of restructuring the construction company that built the Clinton Presidential Library gave John Glasgow every reason to run away.
A seven-figure salary, a chance to buy part of a firm jointly owned by department-store chain Dillard's Inc. and a life lived in good spirits gave him every reason to stay.
Glasgow has been missing since before sunup Jan. 28; his car was found abandoned the next day at a state park. Family and police say it's impossible to tell whether Glasgow killed himself, was abducted or left to start a new life elsewhere. His family said the easygoing 45-year-old felt overwhelmed and anxious about a company audit, but the company said it found no money missing. The police say there is no evidence of foul play, but no clues to his whereabouts, either.
"He may be under some kind of compulsion ... some kind of blackmail, that's a scenario you could dream up," his brother Roger Glasgow said. "We're not suggesting any of these scenarios because we just don't know. But it does open up a Pandora's box of possibilities."
John Glasgow was the chief financial officer of CDI Contractors LLC of Little Rock. The firm, owned by Dillard's and the estate of co-founder Bill Clark, built or remodeled many of Dillard's 300-plus department stores and put up some of Arkansas' signature projects, including Clinton's library and the headquarters of Heifer International. CDI last year had estimated sales last year of $432.9 million. Dillard's Inc. had 2007 sales of $7.81 billion.
With Clark's death last year, Dillard's has the option to buy his shares. The retailer, however, has discussed letting CDI employees buy Clark's shares instead. Glasgow was in charge of the redistribution and himself stood to buy a part of the company.
Glasgow's family and colleagues say the multimillion-dollar deal weighed heavily on him.
Weeks before his disappearance, his wife Melinda found him pacing in their kitchen as the end-of-the-year audit period approached. Dillard's, with its option pending, sent "absolutely relentless" auditors to review CDI's books, she said.
According to Roger Glasgow, John tapped his own phone line after perceiving a threat over how CDI depreciated its assets. Depreciation, a standard accounting practice, figures how business assets, such as equipment, lose value over time.
Roger Glasgow said one Dillard's official reminded his brother it was the CFO of Enron Corp. who went to jail when that company collapsed in an accounting scandal.
Recordings from the tapped phone line captured no further threats, he said.
Dillard's did not return telephone calls to The Associated Press seeking comment but in a joint statement with CDI told the weekly newspaper Arkansas Business nothing was wrong with the accounting.
"Neither Dillard's nor CDI believe any money was misappropriated by John Glasgow or any other member of CDI's management," the statement said.
The clean books fit John Glasgow's personality, his family says: After earning a $500 bonus for completing an anti-smoking program, the executive returned the money after he started to light up again.
William Clark, president and CEO of CDI Contractors and the son of its founder, said there had been "a meeting that did not go well" but that no one threatened or harassed Glasgow. He said Glasgow suffered from "pressure that was self-induced."
"The people buying in were obviously about ready to take a big financial step and John felt personally responsible to make sure that everything went well with the deal," Clark said.
Clark said the redistribution has slowed since Glasgow's disappearance. A former member of Dillard's financial office now oversees CDI's books, but the secretary still answers the telephone by saying "John Glasgow's office."
Roger Glasgow said his brother appeared happy in his marriage after recent family trips to the Galapagos Islands and skiing in Colorado. Another brother, Gary, said the family gathered New Year's Day at John's Little Rock home. Despite looking like he lost a little weight, Gary Glasgow said, his brother seemed to be in good spirits.
The family's bank accounts saw no unusual transactions, nor were there unfamiliar calls to their home or cellular phones in the three months before his disappearance.
The day after Glasgow disappeared in his dark gray 2005 Volvo SUV, police found the car atop Petit Jean Mountain, a state park an hour northwest of Little Rock -- doors unlocked, valuables inside. There was no hint of Glasgow.
Conway County sheriff's investigator Sonny Stover said tracking dogs may have found something -- but the dog handlers couldn't tell if the scent came from Glasgow or just from his car. No one knows how the SUV came to be on the mountain.
"It looks like he's just walked off," Stover said.
A worker at a Waffle House 30 miles from Petit Jean offered one clue, telling deputies that, about the time of the disappearance, a man matching Glasgow's description dropped in to order breakfast. The traveler ate two eggs over medium, hash browns and bacon -- alone and untroubled.
Find John Glasgow:
http://www.findjohnglasgow.com/
