Retirement plan

The mechanisms of crony capitalism laid bare...

Chesapeake, based in Oklahoma, has two powerful politicians on its board — former member of the Senate from Oklahoma, Don Nickles, and former Oklahoma Gov. Frank Keating. The company’s board members used the firm’s private planes for travel — a perk most governance experts frown upon. Perhaps the more salient question is why the two have stayed on the board under the current circumstances. It is equally reasonable to ask why politicians, with their backgrounds unrelated to running big companies, were even appointed to the board.

(link) [NBC News]

via Dispatches from the Culture Wars

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