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Politics : Ask Michael Burke

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To: John Koligman who wrote (112132)	3/13/2008 12:21:39 PM
From: Madharry	Read Replies (1) of 132070

I have a close friend who was in upper management of a fairly major company, and he loved it when a new ceo came on board. the first thing the guy did was appoint his own people to the board, they in turn appointed him to their boards. as a result everyones salaries and benefits at the board, the ceo, and upper management went up by leaps and bounds. My friend retired in his early 50s and ended up with free health care for life. In the words of my friend-people who sit on the board dont give a S*** about shareholders. Even when I worked for a small bank, I was surprised when i got a call from a board member who wanted me to introduce him to a customer of mine, a watch importer , so he could get a good deal on a watch. That was the only question the board member had for me. I recently read something about somebody joining the board of lehman at 67 and dropping the average of the board a lot because the average age of that board is now over 80. of course these guys get over $35,000 a year. No wonder none of them want to leave.

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