A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


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  Part III - Chapter 18 : CEOs  > Why CEOs are overpaid  :    « Previous    1 - 2 - 3 - 4 - 5 - 6 - 7 - 8  Next »

   Why CEOs are overpaid    

Page entitled : The Enron Board - example of a weak board of directors

Content of this page is about :
The Enron Board of Directors made of executives, former executives of subsidiaries, scholars and public officials, all owing allegiance to the chairman, Kenneth Lee Lay


Extract :
... two former public officials (Wendy Gramm and Lord Wakeham) did Enron great favors before being admitted to its Board of Directors. As chairwoman of the U.S. Commodity Futures Trading Commission, Wendy Gramm was instrumental in keeping energy derivatives away from federal regulation, to the great benefit of Enron and its consorts, and to the great damage of these firms’ shareholders, employees and the general public. Through her husband, Philip Gramm, Enron also had a valuable ally in the U.S. Senate  ...

 

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