"You're the one!"
- Carl Bennett, a Quad
Senior VP and Member of
the Board of Directors,
visibly frustrated and
pointing his finger at me,
urging me to bring a
lawsuit against Quad over
the employee retirement
plan fraud.  From my  
deposition, under oath,  
August 2003, Federal
Case #02-C-1149, Eastern
District of Wisc.  Carl and I
had several discussions in
in his Sussex office where
he expressed to me, force-
fully, his frustration with the
retirement plan fraud that
the company was engaged
in, and also the integrity of
the Board of Directors and
a company officer asso-
ciated with the retirement
plan.  Mr. Bennett passed
away in early 2006.
"We've set up a
program...Retire in
the lap of luxury!
- Harry V. Quadracci,
Plan Trustee, 02/03/2001
addressing employee/
owners concerning the
Quad retirement plan.
"Fennell 'couldn't have
done a better job' in
presenting an accurate
portrayal of her husband,
Betty Quadracci said...  'I
didn't want a whitewash
of Harry's life.'"
- The Business

The wretched Betty Quad
commenting on  "author"
John Fennell  and what is
the most thorough white-
wash of a biography

If Betty didn't want a white-
wash, then why is the end
result the most laughably
dishonest  biography ever
distributed in Wisconsin
corporate history.   Is there
a Quadracci that will step
up on a stage and debate
this book being an honest
portray of HVQ?   Fennell
won't defend his own book,
I tried!  What garbage! Just

Where is the retirement
plan fraud that made the
family wealthy?  Where is
the HVQ plan to rid the
company of older workers
(documented) in violation
of Federal law?  Where  
are HVQ's claims on Quad
paying the highest wages
in the land?   Etc., etc.  

Where are the pages of
Harry The Family Man's
wandering eye and the
claims from young women
on the Quad payroll who
where on the receiving end
of his sexual advances? I
can  name a couple of
them... One is completely
willing to come forward if I
request her to!

"He was a genius." - The
opening sentence inside
the book's dust jacket.

Reality: The "visionary"
Harry once compared the
Internet to the Hula-Hoop.

The book Ready, Fire, Aim
is destined to go down as
the most dishonest and
most thorough whitewash
in Wisconsin corporate
history.  Facts are facts.
Quad/Graphics has a
better retirement plan
than General Electric!   

Harry V. Quadracci made
that fraudulant claim on the
morning of  December 15,
1997 (with Chief Financial
Officer John Fowler sitting
at his right hand)  to a room
full of retirement plan
participants as he was
trying to convince me that
my questioning of the Quad
retirement plan was

This particular meeting is
noted by a Quad internal
document that was
provided by me as
evidence for Federal Case
No. 02-C-1149.

General Electric is the
other big employer in the
Pewaukee area of
Waukesha County, WI.  The
two company's plans are at
opposite ends of the
spectrum.  GE's is the real
"The Boy Scout oath
Harry took so many
years ago to be loyal and
trustworthy seemed to
be as much a part of him
as his creativity and
- page 281 of "Ready,
Fire, Aim" - the 388-page
hardcover tribute book,
published in July 2006,
that Quad/Graphics has
handed out to employees

The fact of the matter is
that HVQ was the most
thoroughly  dishonest,
inept, corrupt, ethically
bankrupt degenerate I
ever had the displeasure
of knowing in my life.
"Don't look a gift horse in
the mouth!
- Quad Retirement Plan
Trustee Harry V. Quadracci,
April 2000 (documented),
responding to a plan
participant question during
a retirement plan meeting
in West Allis.

The question involved a
little-understood nuance of
the plan that increases
Quadracci family wealth
while short-changing the
The Hushed-up Truth On
How The Quadracci Family
Became Wealthy Through
Explicit Pornography,  
Click Here
(Updating  Dec. 2007)
"They're too many pigs at
the trough!
- Harry V. Quadracci, in
2000, referring to the
company's management
team - people who made
him and his family wildly
wealthy and worked long
hours for years believing
the false claims on the
retirement plan.
Interviewer: "Couldn't
one say that what you
are doing is brain
washing employees?"

Harry V. Quadracci:
"Mind cleansing."
"Build a cult-like
-a "Quick Lesson In
Theory Q" from the
"Remembering Harry"
Cult:  1. A system of
religious worship and
ritual 2. A religion or sect
considered extremist or
false. 3. Obsessive
devotion to a person or
- American Heritage

"One more message
and you're fired!  Is that
- Harry V. Quadracci,
President, CEO and
Trustee of the Quad
Retirement Plan,
05/16/2000,  threatening
me with termination if I
did not keep quiet about
the deceptions and
illegal activities involved
in the retirement plan.  

Incident covered very
thoroughly in hard-copy
evidence and deposition
for Federal Case
"Our wages are
superior to the national
range of wages of the
printers throughout the
United States,"
Quadracci  said...He
gestured toward a
press.  "Pressmen who
work on these presses
make far more than any
other pressmen in the
- Harry  V. Quadracci
making wildly  phony
claims in the Milwaukee
Journal, 01/22/96, about
Quad's wage/salary

Here is a link examining
this claim about pay
Click Here
"We're an employee-
owned company and
- Quad/Graphics
Chairman and CEO Tom
Quadracci, Small
Business Times,

"We want employees to
appeal! That way we find
out what they're going to
court with!!"
- Harry V. Quadracci,
addressing a manager
group in the Sussex plant
auditorium after the
"Employee Advocate"
program was initiated.  
Employees at large were
never told of the true
benefit the leadership of
Quad saw in the appeal
process and the
Employee Advocate

Employees probably
thought that the Quad
internal appeal process
was for THEIR benefit.  A
mistake, as usual, to
trust the Quad leader-
ship.  Taken from my
deposition (under oath)
for Federal Case
#02-C-1149.  I can also
pass a polygraph for this
one and name others
who witnessed this.
News, Research and Commentary on     
Quad/Graphics, Inc. And Related Matters


New at the QuadWatch Blog

* 08/05/2010:  Quad slashes 2,200 workers, vast majority from
World Color;  Flashback to 01/26/2010 - "I look forward to
welcoming them (World Color employees) into the Quad family..."
Joel Quadracci;  Publicly-traded shares zoom over 5% BEFORE
announcement made public?
Click Here

* 08/01/2010:  The Inside Story:  How the Quadracci family played
key client Newsweek for a public fool.    
Click Here

* 07/25/2010:  Quad recently claimed "generosity" on employee
benefit,  factually  may be the worst of any of the 3,600+
companies listed on the New York Stock Exchange.   
Click Here

* 07/25/2010:  CEO Joel Quadracci grabbed over $2.78- million in  
compensation for 2009, while the employee retirement plan
contribution was cut to the barest bone.   
Click Here

* 07/20/2010:  Comparing Quad's "World Class" employee
retirement plan to the one at fast-food giant
Click Here

Click Here For The QuadWatch Blog Archive

Latest Updates: 12/23/2010                     Made possible by  Article 1 in the Amendments
                                                                               to the Constitution of The United States
"My father founded Quad/Graphics on honesty, integrity
and trust, and I will continue to advance those values
as our company's next president."  
Joel Quadracci ,
Business Journal of Milwaukee, 11/30/04.  Joel is
currently CEO of Quad/Graphics.  
"This $200,000 (which he claimed the average
20-year employee had in their  profit sharing
account)... we'll now take and turn into over $600,000
at 25  years of service!...That's not a pipe dream,
that's not a projection.  That is fact!"
 - Harry V.
Quadracci in 1988, in full-throttle fraud mode, trying to convince
employees that their industry-low wages and salaries were
justified because their  profit-sharing accounts will more than
triple every 5 years.  Perhaps the absolute low point, ethically, in
Wisconsin corporate history.  It's on videotape, as are so many
other golden moments of Quadracci fraud.

Tom, a Senior VP and on the Board of Directors at the time, failed
to mention during his rah-rah speech that the Quadracci family  
was engaged in the most remarkably corrupt and dishonest
employer/employee retirement plan fraud in Wisconsin corporate
history (I defy anyone to prove that statement incorrect, either in
court or on a stage on videotape).   A  freakishly dishonest plan
that  made the Quadracci Family one of the wealthiest in
Wisconsin (according to Forbes magazine) but wildly misled
employees on contribution levels, investment performance, and  
plan structure.   That is documented fact and I welcome members
of the Quadracci family or any Quad/Graphic execs to dispute that.

The Quad leadership also engaged in a campaign to convince
employees to accept lower wages/salaries in exchange for
participation in the phony retirement plan, which would make them
"millionaires" much faster than they could be at other employers.  
That, my friends, is  the REAL Quad/Graphics competitive
advantage and the primary engine behind company growth and
Quadracci Family wealth over the years.  Trick people to accept
lower salaries/ wages in return for an incredible retirement plan.  
But don't actually provide the stated retirement plan.  If
Quad/Graphics Chief Financial Officer John Fowler cares to
dispute that claim during a videotaped debate on a stage before
Quad/Graphics employees (both current and former), I am game.   
Please.  And  I have a cart load of  video/audio tapes and
documents to back up my claims.  

But Tom Quadracci wasn't finished.  Here is Tom in the May 27,
2005 issue of Small Business Times,  AFTER all the true facts
about the Quad retirement plan sham had been covered in
Federal Court::
 "Our company, we feel, is really built on
trust...From day one, we've had the best employee benefits of
anyone in our industry."

If Tom Quadracci can successfully defend that claim in a debate
on a stage against me, on videotape, I, Roy Donald Raush, will
put a bank check for $100,000.00 in his hand.  Now one would
think that Tom would jump at that opportunity...   But the truth is
that it is just one more in a long line of freakishly dishonest state-
ments that the Quadracci Family has deceived the people of
Wisconsin with for decades.  I'm ready when you are, Tom!  Joel?
Quad/Graphics Rigged "The 100 Best Companies
To Work For" Surveys To Falsely Portray Itself As A
Top Company; The Ranking Was Also Used By Quad
To Spread Wildly Bogus Retirement Plan Claims

The Quadracci Family, through
Quad/Graphics, distributed this
brochure touting Quad making
the "100 Best Companies To
Work For" list from 1993 to
2000 or possibly later.  It was
distributed to Quad employees,
customers, prospects, public
school job fairs, and the public
at large.

Quad made it onto the list by
providing phony retirement plan
contribution data:  "The pay at
Quad/Graphics is augmented
15 percent by a combination of
two plans: profit sharing that
allocates stock to each
employee's account and a savings program in which the company
now matches every dollar saved by an employee with 30 cents of
its own, up to 6 percent of pay."

The fact of the matter is, the trouble with this is,  Quad/Graphics
wasn't doing anything remotely close to this -- a small fraction,
with under 5% per year, being a common year.  Did the Quadracci
Family alert the group that compiles the list of this jaw-dropping
misrepresentation in contribution levels?  Nope.  Quad instead
got permission to have the Quad pages done as a brochure
reprint and distributed it  to the unsuspecting for years and years.   
Simply amazing.  The Quadracci Family has yet to issue a public
apology for deceiving the public and its employees on this matter.

Documented:  In a later year, Harry V. Quadracci sent an e-mail to
a very small, select group of officers and need-to-know managers
ordering them to selectively distribute the employee surveys for
"The 100 Best Companies To Work For" list, despite the
that they be randomly distributed to employees
(more of that "HVQ honesty and integrity" stuff that Joel spouts off
about  occasionally).  Per Harry's own email words, he was not
going to "play Russian Roulette" with the surveys.  So the Quad
leadership rigged the surveys.  I have been informed of one key
department where the surveys were particularly rigged for the
"right" employees -- Quad/Tech.  I believe, no I am positively sure,
that Tom Quadracci was directly in charge of Quad/Tech during
the time of HVQ's email.  Hmm...  
Quad/Graphics Used Its Key Client, Time Inc., To
Spread A Bogus Retirement Plan Claim Nationwide

"At Quad/Graphics, a Wisconsin Printing company, the average
five-year employee owns shares worth $250,000."  - Time
magazine touting the miracle of Quad/Graphics, 02/06/1989

The Reality:  A thorough examination and generous
reconstruction puts the total at only $2,941.35!!!!  

Remarkable.    Has the Quadracci Family ever, in these nearly
20 years, publicly apologized to Time and its valued readers for
the distribution of this false data?  No.  Did Time ever run a
correction?  No.  Does the Quadracci family want to address
this at all?  Take a guess.

For a thorough examination, reconstruction and commentary on
this remarkable Quad episode involving the national media
(funny, I don't  recall seeing anything whatsoeverabout this  in
that HVQ biography about this) you can
Click Here

For a direct link to the Time acticle, Click Here
The Sudden, Mysterious Death of Harry V.
Quadracci And The Federal Lawsuit That Was
Coming At Him Like A Train; A Judge's Words    
And The Quad Exec Who Committed Perjury

Harry V. Quadracci mysteriously passed away in
July of 2002.  I, along with quite a few others, put
the odds of suicide at better than fifty/fifty.  There
are a lot of unanswered questions about just what
happened that day, and the preceding days, but
the Quadracci family won't go down that road and
they hold fast to the claim that it was accidental

The trouble for the Quadracci family is that they
have told so many lies, made so many freakishly
dishonest statements over the years to the public
and internally to employees that the fact of the
matter is this : Why on earth should any start
believing them now?

The fact of the matter is, at the time HVQ died, a top
law firm in Washington, D.C. was putting together
not only my lawsuit, but two class-action lawsuits -
one on the retirement plan and one on race
discrimination at Quad.  We had the documents,
had the tapes, and had those who would come
forward and testify (not only me, by a long shot).

HVQ's death changed it all.   The Washington, D.C.
firm dropped out but I had great representation
from a great firm here in Wisconsin, though with
HVQ gone, we only went with my individual suit.  I
know for a fact, by the way, that more than one
Quad exec lied under oath during the depositions.  
Time will tell if the right documents and tape make
it to the right Federal authorities.  Perjury?

Here is what the Federal Judge concluded
concerning my suit, and remember that it is Quad's
position that I was terminated because my position
was eliminated:

"Raush has presented persuasive arguments that
he was fired because he continually questioned
and complained to Quadracci about his
management of the Quad/Graphics retirement

...To be sure, the plaintiff may have arguably
presented sufficient evidence to demonstrate that
he was fired because of his internal complaints
regarding the retirement plan.  But, as this court
has already concluded above, ERISA does not
protect an employee in that situation."

- William E. Callahan, Jr.  United States Magistrate
Judge 09/07/04; United States District Court,
Eastern District of Wisconsin

Roy Donald Raush, plaintiff, vs. Quad/Graphics,
Inc., and Elizabeth Quadracci and John C. Fowler,
in their capacity as personal representatives of the
Estate of Harry V. Quadracci, deceased.
Have a comment,
suggestion or opinion?  
Your feedback is valued
and confidentiality is fully

Write to:  

Roy Raush, Editor
Former Market Research
Manager (and Harry V.
Quadracci's "CIA") of
"Just lie!"
- Harry V. Quadracci's
strategy (quote is verbatim)
to get on Working Mother
magazine's "100 Best
Companies For Working
Mothers" during the late
1990's.  Quote attributed to
HVQ during under-oath
testimony in August 2003
for Federal Case
#02-C-1149, Eastern
District of Wisc.
"My goal is to make all of the people out there on the
floor today, all of my employees, my partners, rich."
Tom Quadracci, 02/22/ 2001, addressing a group of
more than 1,000 Quad employees.  Tom attributed
the words to HVQ, stating how it was  HVQ's primary
goal was to make OTHER'S rich --  his employees.
John Torinus: The clue-
less  Milwaukee Journal
Sentinel business colum-
nist who idolizes Harry V.
Quadracci.  Why has he
compromised the integrity
Wisconsin's largest
newspaper to blow kisses
to the Quadracci family?  
Click Here
Total Return Investment
Results Since Quad
Went Public on July 6,

S&P 500           + 23.2%
Quad                  - 15.

Gain Needed For Quad
To Get Back To IPO
Price:    +  1

(At close of  12/23/2010)
Useful Links:     Quad SEC Documents       Quad Message Board