Ho-Chunk CEO criticizes outside financial review

The CEO of the economic development corporation owned by the Winnebago Tribe of Nebraska criticized an outside review of the company's finances as “a load of crap’’ and “obviously a slanted document.’’

Lance Morgan, a tribal member, said Ho-Chunk Inc. is in stable financial condition despite a high level of debt. He said the company has always made its payments on time.

The review by Deloitte Financial Advisory Services said HCI has $13 million in debt. The company posted $113 million in revenues in 2006.

Some tribal members say they deserve a greater financial share of HCI's success. They say Morgan hasn't responded to their requests for more information.

HCI owns Indianz.Com and AllNative.Com.

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Review of tribe's $100 million business shows shaky outlook (AP 3/17)

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