# long leftist labor lecture **URL:** \ **Category:** The BBQ Pit\ **Created:** [October 16, 2003, 6:28pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826 "2003-10-16T18:28:58Z")\ **Posts on this page:** 20\ **Page:** 6
**Author:** ![mske](https://avatars.discourse-cdn.com/v4/letter/m/ccd318/32.png) [@mske](https://boards.straightdope.com/u/mske)\ **Post date:** [October 20, 2003, 4:13pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/101 "2003-10-20T16:13:48Z")
> [@](#): > > \*Originally posted by Hyperelastic \* > \*\*msmith537, your interpretation of my comment about only people who cure cancer or invent perpetual motion deserving big money shows your bias and confusion. I said that the people who do the work deserve the money, not that the CEOs of the corporations who employ the people who do the work deserve the money. You seem to have difficulty grasping that it’s actually the workers who create the wealth, whereas the fatcats at the top just skim the profits. Of course, those CEOs really earn their millions, though. Anyone who can go into a quarterly telecon with fund managers telling how they’re going to boost the stock price by laying off loyal employees, ruining their families, and horse-fucking the employees who are left over certainly speaks of a rare ability. \*\* I don’t get it. Are you saying that in absence of CEOs, hundreds of free-range unskilled workers would start clumping together and spontaniously create wealth? ---
**Author:** ![TaxGuy](https://avatars.discourse-cdn.com/v4/letter/t/b19c9b/32.png) [@TaxGuy](https://boards.straightdope.com/u/TaxGuy)\ **Post date:** [October 20, 2003, 7:20pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/102 "2003-10-20T19:20:41Z")
> [@](#): > > \*Originally posted by Evil Captor \* > \*\*What an interesting definition of “humane” you must have. Ah, well. Ta! Ta! Send us all a postcard! \*\* Sounds like you should read The Fountainhead if you haven’t done so already. I’m in the Dominique Francon and Howard Roark camp while you’re in the Ellsworth Toohey and [the other main architect guy] camp. ---
**Author:** ![TaxGuy](https://avatars.discourse-cdn.com/v4/letter/t/b19c9b/32.png) [@TaxGuy](https://boards.straightdope.com/u/TaxGuy)\ **Post date:** [October 20, 2003, 7:49pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/103 "2003-10-20T19:49:27Z")
[hijack] Man, I have no idea how folks like **Bricker** , **msmith537** , **mske** , and others can keep on keeping on in this thread. OG bless you guys. I really wish I had your patience, but it seems to me that some ignorance is just so pervasive and virulent that it just sucks out my will to fight it. [/hijack] ---
**Author:** ![msmith537](https://avatars.discourse-cdn.com/v4/letter/m/d9b06d/32.png) [@msmith537](https://boards.straightdope.com/u/msmith537)\ **Post date:** [October 20, 2003, 8:48pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/104 "2003-10-20T20:48:21Z")
> [@](#): > > \*Originally posted by TaxGuy \* > Man, I have no idea how folks like **Bricker** , **msmith537** , **mske** , and others can keep on keeping on in this thread. OG bless you guys. > > I really wish I had your patience, but it seems to me that some ignorance is just so pervasive and virulent that it just sucks out my will to fight it. > \*\* Eh… beats looking at financial statements and budgets all day. ---
**Author:** ![Muad\_Dib](https://avatars.discourse-cdn.com/v4/letter/m/35a633/32.png) [@Muad\_Dib](https://boards.straightdope.com/u/Muad_Dib)\ **Post date:** [October 21, 2003, 6:20am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/105 "2003-10-21T06:20:48Z")
> [@](#): > > \*Originally posted by mske \* > \*\*I don’t get it. Are you saying that in absence of CEOs, hundreds of free-range unskilled workers would start clumping together and spontaniously create wealth? \*\* Isn’t that the way the universe formed? ---
**Author:** ![Bill\_H](https://avatars.discourse-cdn.com/v4/letter/b/a5b964/32.png) [@Bill\_H](https://boards.straightdope.com/u/Bill_H)\ **Post date:** [October 21, 2003, 7:24am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/106 "2003-10-21T07:24:01Z")
**Hyperelastic** wrote > [@](#): > > A bunch of horseshit, ignoring the core fact that he earlier claimed Mr. Burd made $26m in 2002, when in fact he lost $56m in direct compensation. You’ve made clear that logic, fairness and rationality aren’t really priorities for you. As they aren’t for Union leadership, as clearly shown in your cite. But we knew that already. So take joy in this bit of emotional happiness: In the US, Union membership, power and influence have been on the decline for a long time, and it looks like it’s going to be that way for a while longer. So hooray! The market speaks, and says your lies are painful today, but less painful than 10 years ago, and more painful than they will be in another 10 years. ---
**Author:** ![Evil\_Captor](https://avatars.discourse-cdn.com/v4/letter/e/f17d59/32.png) [@Evil\_Captor](https://boards.straightdope.com/u/Evil_Captor)\ **Post date:** [October 21, 2003, 11:36am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/107 "2003-10-21T11:36:00Z")
> [@](#): > > \*Originally posted by Bricker \* > \*\*We started this conversation because you suggested that these sorts of government contracts represented corporate welfare. I’m making the case that they arise simply due to government inefficiency. The corporations that enter into these contracts are responding to the government’s “complicated and expensive way of buying things” because that’s what the government demands. > > Are you with me so far? (There’s more, believe it or not!) > > - Rick \*\* I don’t know that I’m “with” you but I follow your arguments. There is still ample evidence that much of the military procurement process works in the favor of corporations because that’s the way corporations like it. You are no doubt familiar with the “revolving door” phenom, in which top military procurement guys get cushy jobs for civilian contractors after they retire from the military. It happens for a reasons. And the military stuff is just part of corporate welfare. Tax breaks, pork barrel projects and special interest legislation all are part of the picture. I know some conservatives condemn corporate welfare as vigorously as as liberals do, but a lot of them don’t. ---
**Author:** ![Evil\_Captor](https://avatars.discourse-cdn.com/v4/letter/e/f17d59/32.png) [@Evil\_Captor](https://boards.straightdope.com/u/Evil_Captor)\ **Post date:** [October 21, 2003, 11:39am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/108 "2003-10-21T11:39:58Z")
> [@](#): > > \*Originally posted by TaxGuy \* > \*\*[hijack] > > Man, I have no idea how folks like **Bricker** , **msmith537** , **mske** , and others can keep on keeping on in this thread. OG bless you guys. > > I really wish I had your patience, but it seems to me that some ignorance is just so pervasive and virulent that it just sucks out my will to fight it. > > [/hijack] \*\* Oh, you poor dears – having to read and respond to the posts of those who disagree with you – let me get you a tissue … ---
**Author:** ![Evil\_Captor](https://avatars.discourse-cdn.com/v4/letter/e/f17d59/32.png) [@Evil\_Captor](https://boards.straightdope.com/u/Evil_Captor)\ **Post date:** [October 21, 2003, 11:51am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/109 "2003-10-21T11:51:15Z")
> [@](#): > > \*Originally posted by msmith537 \* > **"The Market" is not some mystical force. It is the expression of the wants and needs of millions of consumers. It is the “invisible hand” that guides society in determining how much steel or DVD players or ball bearing lubricant to produce.** And according to many conservatives, who eats and who doesn’t, who keeps their home and who loses it, what kids get great schooling and what kids get lousy schools … **Could you run a billion dollar company? Could you create a multi-billion dollar company out of thin air like Gates or the Waltons? How many people do you know who can?** You’re dodging the issue. The person identified was Steven Burd. I’m sure I could run a big company into the ground and would GLADLY accept millions to do so. ---
**Author:** ![Cheesesteak](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cheesesteak/32/3694_2.png) [@Cheesesteak](https://boards.straightdope.com/u/Cheesesteak)\ **Post date:** [October 21, 2003, 12:36pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/110 "2003-10-21T12:36:07Z")
Let me put the CEO issue a slightly different way. Let’s say I own $10,000 worth of stock in Safeway. Safeway is a $10B company ($9.8B really, but work with me) This means that I own 1 millionth of the company. The CEO, who is in charge of the company, whos decisions make or break this company, gets paid $1M per year and has options worth, currently $76M. What does this mean to me, the stockholder? For the $10,000 of stock I’m keeping for retirement, I’m paying $1 annually and $76 in potential options to make sure the company is run properly. The options will be worth more or less depending on whether the $10K goes up or down. This is not a lot of money to spend to ensure the company is run correctly. Sure I can pay YOU $0.10 to run my millionth of the company, but you’re going to turn my $10K into $5K or $2K quick as a wink. Why? Because you don’t know jack shit about running a company! No thanks, I’ll find someone _qualified_ to manage the company and pay him a reasonable amount to keep my investment safe. ---
**Author:** ![Bricker](https://avatars.discourse-cdn.com/v4/letter/b/977dab/32.png) [@Bricker](https://boards.straightdope.com/u/Bricker)\ **Post date:** [October 21, 2003, 1:43pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/111 "2003-10-21T13:43:06Z")
> [@](#): > > \*Originally posted by Evil Captor \* > I don’t know that I’m “with” you but I follow your arguments. There is still ample evidence that much of the military procurement process works in the favor of corporations because that’s the way corporations like it. You are no doubt familiar with the “revolving door” phenom, in which top military procurement guys get cushy jobs for civilian contractors after they retire from the military. It happens for a reasons. Sure. The reason is that the the top military guys have proven leadership and management experience, as well as experience with the government procurement and contracting process, making them well-qualified for the jobs in question. Or are you suggestiong, without any supporting evidence, another, more sinister reason? > [@](#): > > And the military stuff is just part of corporate welfare. Tax breaks, pork barrel projects and special interest legislation all are part of the picture. I know some conservatives condemn corporate welfare as vigorously as as liberals do, but a lot of them don’t. The question is not whether pork-barrel projects exist – but at whose behest they exist. I content it’s to win the votes of the workers involved in such projects… “Senator Jones brought 5,000 jobs to Harrison County this year!” rather than at the behest of the corporations who profit. Again, some evidence would be nice if you’re going to offer an assertion. - Rick ---
**Author:** ![msmith537](https://avatars.discourse-cdn.com/v4/letter/m/d9b06d/32.png) [@msmith537](https://boards.straightdope.com/u/msmith537)\ **Post date:** [October 21, 2003, 1:46pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/112 "2003-10-21T13:46:02Z")
> [@](#): > > \*Originally posted by Evil Captor \* > Oh, you poor dears – having to read and respond to the posts of those who disagree with you – let me get you a tissue … I think he means that finds it a bit tedious explaining basic economics to people who, while good-intentioned, have very little idea how and why business and economics actually and are unable to understand that what works on the level of individual families does not work when making decisions for thousands or millions of people. > [@](#): > > \*Originally posted by Evil Captor \* > There is still ample evidence that much of the military procurement process works in the favor of corporations because that’s the way corporations like it. You are no doubt familiar with the “revolving door” phenom, in which top military procurement guys get cushy jobs for civilian contractors after they retire from the military. It happens for a reasons. > \*\* Uh…yes. It’s called 20 years of experience in a related field with demonstrated leadership experience. Is that crazy or what? > [@](#): > > \*Originally posted by Evil Captor \* > And according to many conservatives, [the market decides] who eats and who doesn’t, who keeps their home and who loses it, what kids get great schooling and what kids get lousy schools … Who would you rather decide? Who should starve and who should lose their farm because their produce revenues can’t cover their expenses? Who should lose their home and who should rent their property as a loss so some deadbeat can squat there? Who should get great schools and who should be forced to pay high taxes to support them? > [@](#): > > \*Originally posted by Evil Captor \* > You’re dodging the issue. The person identified was Steven Burd. I’m sure I could run a big company into the ground and would GLADLY accept millions to do so. I’m not dodging the issue. You are taking a single example and holding it up as the norm. Apparently because there is some level of corruption, that means the entire system is broken. What about all those thousands of companies that are successful? And it isn’t an issue that I even disagree with you on. CEOs and executives shouldn’t be able to loot a company for millions as it goes bankrupt. As a shareholder (and part owner), I want to be certain that management is looking out for the companies interest, not their own pocketbooks. ---
**Author:** ![Duke](https://avatars.discourse-cdn.com/v4/letter/d/e8c25b/32.png) [@Duke](https://boards.straightdope.com/u/Duke)\ **Post date:** [October 21, 2003, 4:34pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/113 "2003-10-21T16:34:29Z")
> [@](#): > > \*Originally posted by Cheesesteak \* > \*\*The CEO, who is in charge of the company, whos decisions make or break this company, gets paid $1M per year and has options worth, currently $76M. What does this mean to me, the stockholder? > > For the $10,000 of stock I’m keeping for retirement, I’m paying $1 annually and $76 in potential options to make sure the company is run properly. The options will be worth more or less depending on whether the $10K goes up or down. This is not a lot of money to spend to ensure the company is run correctly. \*\* But if the company is _not_ run correctly, it _is_ too much to pay. Especially if that $10,000 in stock starts shrinking. Heck, if your stock value was cut in half or worse (and it’s happened to more than one company over the past five years), the $1 would probably seem too much to pay. I don’t think most people in the US really resent CEO pay being high when “the job is being done”–i.e. the company turns a profit and stock values rise. Let me use a baseball analogy. I don’t think many Yankees fans are thinking, “Gee, I wonder if they’re paying Derek Jeter too much money?” right now. They are succeeding, in part because of Jeter’s performance, so few would complain about the millions Jeter and teammates are receiving. Now, how many Red Sox fans are thinking Grady Little was overpaid this year? At least in the States, complaints against CEO pay have traditionally arisen in two situations: times of economic hardship (indeed, the first time it was really seen here was during the recession of the 70’s), and in cases where the company is failing. The biggest complaints, IMHO, about CEO pay recently have been in the cases of Enron, WorldCom, Tyco, and in the airline industry after the requests for government bailouts. Can you really blame any of the complainants? And anyone who thinks CEOs have it bad here should check out the situation in…well, just about any other G8 country. ---
**Author:** ![Evil\_Captor](https://avatars.discourse-cdn.com/v4/letter/e/f17d59/32.png) [@Evil\_Captor](https://boards.straightdope.com/u/Evil_Captor)\ **Post date:** [October 21, 2003, 5:50pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/114 "2003-10-21T17:50:38Z")
> [@](#): > > \*Originally posted by Cheesesteak \* > \*\*Sure I can pay YOU $0.10 to run my millionth of the company, but you’re going to turn my $10K into $5K or $2K quick as a wink. Why? Because you don’t know jack shit about running a company! No thanks, I’ll find someone _qualified_ to manage the company and pay him a reasonable amount to keep my investment safe. \*\* It has been observed that American CEO compensation is WAAAY out of line iwth CEO compensation in the rest of the world. Maybe you whizbangs should think about importing some of those relatively cheap corporate whizbangs from other countries from other countries, instead of paying the overpriced jerkoffs we have way too many of in the U.S. I also have to point out that the major reason for high CEO pay isn’t what you say, but the fact that CEO get to pick their own bosses – the board of directors – in many corporations, and the bosses they pick tend to be … their GOOD BUDDIES!!! Who are only too glad to vote them all sort of generous goodies. That’s why the salaries go up even when the ships go down. Please, let’s stop the charade that this is all good business sense when it’s actually just a bunch of mutual back-scracthing at its worst. > **[US executive pay soars again in 2001](https://www.wsws.org/en/articles/2002/04/ceo-a04.html)** > > Despite a recession, massive layoffs and declining stock prices in 2001, the compensation of US executives at the biggest corporations surged ahead last year, with CEOs raking in billions in salaries, bonuses and stock options. ---
**Author:** ![Evil\_Captor](https://avatars.discourse-cdn.com/v4/letter/e/f17d59/32.png) [@Evil\_Captor](https://boards.straightdope.com/u/Evil_Captor)\ **Post date:** [October 21, 2003, 6:06pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/115 "2003-10-21T18:06:23Z")
> [@](#): > > \*Originally posted by Bricker \* > \*\*Sure. The reason is that the the top military guys have proven leadership and management experience, as well as experience with the government procurement and contracting process, making them well-qualified for the jobs in question. > > Or are you suggestiong, without any supporting evidence, another, more sinister reason?\*\* Yeah, I’m suggesting that military personnel are VERY nice to outfits like Boeing aned Lockheed because they KNOW they can be taken care of as execs there when they retires. Some support for this viewpoint: [http://www.motherjones.com/arms/boeing.html](http://www.motherjones.com/arms/boeing.html) I’ve got no direct evidence of a quid pro quo, but all the overpriced thises and thats and “bad contracting procedures” and other things “there’s just no way to control” are strong indirect evidence that the people in charge don’t WANT to control things, very much for thier own benefit. That sinister enough for ya? \*\*The question is not whether pork-barrel projects exist – but at whose behest they exist. I content it’s to win the votes of the workers involved in such projects… “Senator Jones brought 5,000 jobs to Harrison County this year!” rather than at the behest of the corporations who profit.- Rick \*\* [/QUOTE] Yeah, but it’s not the workers who bribed Senator Jones because they don’t have the money. It’s the corporate execs. Or would you suggest 5,000 clandestine meetings of Senator Jones with workers, each of whom gave $20. If so … CITE! (See how just calling for a cite doesn’t necessarily win an argument, even on SDMB?) ---
**Author:** ![Bill\_H](https://avatars.discourse-cdn.com/v4/letter/b/a5b964/32.png) [@Bill\_H](https://boards.straightdope.com/u/Bill_H)\ **Post date:** [October 21, 2003, 6:39pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/116 "2003-10-21T18:39:34Z")
**Evil Captor** wrote > [@](#): > > I also have to point out that the major reason for high CEO pay isn’t what you say, but the fact that CEO get to pick their own bosses – the board of directors – in many corporations, and the bosses they pick tend to be … their GOOD BUDDIES!!! Who are only too glad to vote them all sort of generous goodies. That’s why the salaries go up even when the ships go down. Well, my personal experience is very different from what you’re proposing. I’ve been a CEO reporting to a Board of Directors, and I’ve been a Director managing a CEO. In fact, I hold both of those roles in a few companies currently. The fact is that things just aren’t as you say. Not in my world anyway. Sure, there are exceptions. There are idiot Directors and there are idiot CEOs. There are CEOs and Directors who got their jobs because they knew someone, or were related to someone, etc. But these are huge exceptions. In fact, I’d dare say they are much rarer than seeing unfair appointments in other jobs because they are so high profile. The Directors represent the shareholders, and if the CEO isn’t working hard enough or doing the right things for those shares, they’ll replace him in a heartbeat. And a CEO who’s lost his job for poor performance finds it very hard to get his next job. Because again, he lives in a very public world. All of his potential future bosses (i.e. Directors of other companies) will know all about his successes and failings, and will likely know a few of his previous Directors. There’s no hiding. By the way, all this is true even when a CEO is one of his own Directors. In my current role, I’m both the CEO and the Chairman of the Board. But there are other Directors and they represent shareholders, i.e. investors. And to the investors the success of the company isn’t a passing interest; it’s how they make their living. If I don’t do my job, I’m canned; it’s that simple. ---
**Author:** ![msmith537](https://avatars.discourse-cdn.com/v4/letter/m/d9b06d/32.png) [@msmith537](https://boards.straightdope.com/u/msmith537)\ **Post date:** [October 21, 2003, 9:14pm UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/117 "2003-10-21T21:14:44Z")
> [@](#): > > \*Originally posted by Bill H. \* > Well, my personal experience is very different from what you’re proposing. > > I’ve been a CEO reporting to a Board of Directors, and I’ve been a Director managing a CEO. In fact, I hold both of those roles in a few companies currently. > \*\* Yes, but you come from the real world. People like Evil Captor live in a fantasy-world of drama and inuendo created by reading too many conspiracy sites, watching too many “evil corporation” movies and only interacting with other arthouse psuedo-intelectuals just like them. It’s like listening to some high-school English teacher who’s never made more than $45,000 in his life lecture a class on his personal politics based on stuff he catches a glimpse of on CNN. ---
**Author:** ![Typo\_Negative](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/typo_negative/32/484_2.png) [@Typo\_Negative](https://boards.straightdope.com/u/Typo_Negative)\ **Post date:** [October 22, 2003, 8:56am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/118 "2003-10-22T08:56:57Z")
> [@](#): > > \*Originally posted by Evil Captor \* > **It has been observed that American CEO compensation is WAAAY out of line iwth CEO compensation in the rest of the world. Maybe you whizbangs should think about importing some of those relatively cheap corporate whizbangs from other countries from other countries, instead of paying the overpriced jerkoffs we have way too many of in the U.S.** Well, I’m kinda with you there. I do think they are way overpaid for what they do. But if someone offered YOU that kind of dough, you wouldn’t turn it down, would you? I wouldn’t either > [@](#): > > \*\* > I also have to point out that the major reason for high CEO pay isn’t what you say, but the fact that CEO get to pick their own bosses – the board of directors – in many corporations, and the bosses they pick tend to be … their GOOD BUDDIES!!! Who are only too glad to vote them all sort of generous goodies. That’s why the salaries go up even when the ships go down. \*\* As I understand it, and I could way off, the more egregious examples of CEO salaries were offers to attract the _BIG NAME_ free agents. And as they were offers, those CEO’s were not in a position to do ANYTHING until after they accepted. And we only hear about the ones who fall on their faces. We don’t hear about the ones who turn the company around and make it more profitable. ---
**Author:** ![Evil\_Captor](https://avatars.discourse-cdn.com/v4/letter/e/f17d59/32.png) [@Evil\_Captor](https://boards.straightdope.com/u/Evil_Captor)\ **Post date:** [October 22, 2003, 11:39am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/119 "2003-10-22T11:39:32Z")
> [@](#): > > \*Originally posted by msmith537 \* > \*\*Yes, but you come from the real world. People like Evil Captor live in a fantasy-world of drama and inuendo created by reading too many conspiracy sites, watching too many “evil corporation” movies and only interacting with other arthouse psuedo-intelectuals just like them. It’s like listening to some high-school English teacher who’s never made more than $45,000 in his life lecture a class on his personal politics based on stuff he catches a glimpse of on CNN. \*\* Oh, yeah, I live in a fantasy world filled with bizarre fantasy corporations like Exxon, Worldcom, and Adelphia, to name a few. Here are a few others: [http://www.sirotalaw.com/teampublish/104\_436\_1403.CFM](http://www.sirotalaw.com/teampublish/104_436_1403.CFM) And I didn’t know there was a means test for having opinions. How very Republican. ---
**Author:** ![Evil\_Captor](https://avatars.discourse-cdn.com/v4/letter/e/f17d59/32.png) [@Evil\_Captor](https://boards.straightdope.com/u/Evil_Captor)\ **Post date:** [October 22, 2003, 11:52am UTC](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826/120 "2003-10-22T11:52:55Z")
> [@](#): > > \*Originally posted by Bill H. \* > \*\ ***Evil Captor** wrote > > Well, my personal experience is very different from what you’re proposing.\*\* My personal experience has been exactly counter to yours. I worked for an organization for many years, in a position where I often reported directly to the CEO. His board of directors was chosen almost exclusively from his golfing buddies. And when he retired, the new CEO was … one of his golfing buddies. And his board consisted of HIS golfing buddies. The business we were in had very little to do with golf – you’d think. But getting out on the links with the right people had EVERYTHING to do with succeeding in it, and of course our CEO tended to nominate his buddies for other boards, who nominated our CEO for various boards. You wanna talk about networking … Now, I am not saying that ALL CEOS and board behave in this way, but a lot of them do. In fact, a USA Today article shows that top US corporations are tied together in just the sort of way you’d expect from what I describe: [http://www.usatoday.com/money/companies/management/2002-11-24-interlock\_x.htm](http://www.usatoday.com/money/companies/management/2002-11-24-interlock_x.htm) Here’s a nice direct example of conflict of interest from Forbes online: [http://www.forbes.com/free\_forbes/2002/0916/126.html](http://www.forbes.com/free_forbes/2002/0916/126.html) Of course, it’s all very legal and above-board and there are GREAT reasons for doing it: [http://www.eagletribune.com/news/stories/20030918/BU\_002.htm](http://www.eagletribune.com/news/stories/20030918/BU_002.htm) I’ll retain my cynicism on this topic thankyewverymuch. [Previous page](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826.md?page=5) [Next page](https://boards.straightdope.com/t/long-leftist-labor-lecture/207826.md?page=7)