Tibus Heth declares plan to nationalize megacorps; KK revealed to be in financial straits
New Caldari – State Executor Tibus Heth today announced his desire to “nationalize the megacorps” and place them all under the direct control of the Caldari State. At the same time, reports have been released that Kaalakiota Corporation, of which Tibus Heth is the CEO, has been funneling money to support the Caldari Providence Directorate, placing it in financial difficulties.
In Heth's announcement, he declared, “The time for corporate back-biting and rivalry has come and passed. Caldari unity is important. The providence of the working class is important. Individual corporations fighting over every last coin has brought this great State to near-ruin once before. The workers revolted and brought me to power, but I foolishly thought the corporations had learned their lessons and could change. I have now found they cannot. They were merely wounded dogs, laying low and licking their wounds until they found a time to bite once again. And bite they have, many times over the past few months.
“This biting has led to the loss of our homeworld once again. It has led to the Caldari people being fractured and at each other’s throats. I cannot stand for it. That is why I shall begin the process of bringing all seven megacorporations under State ownership. They will provide for the people and not for their decadent CEOs. It was a move I should have made long ago, but one that hopefully is not yet too late to make.”
It is unsure how Tibus Heth will enact these changes. Ishukone Corporation released a statement saying, “Ishukone Corporation continues operations as usual. No controlling stock interests have been transferred and we remain united under the leadership of CEO Mens Reppola.” The other megacorps echoed these statements later in the day.
Meanwhile, reports have emerged that Kaalakiota Corporation, of which Tibus Heth owns a majority share, has very little operating capital on hand. The majority of its funds have gone to fund continued operations by the Caldari Providence Directorate, which has vast needs for manpower, materiel, and logistics, yet creates little revenue of its own. The megacorporation has apparently operated at a loss for the past three years, with losses spiking in recent months as Heth's policies continue to grow more and more unpopular.
These reports have sent Kaalakiota stock tumbling, as analysts worry the corporation will be unable to make scheduled debt payments to Caldari Funds Unlimited in the coming quarter. The corporation has not yet released any statements.