The Corporate Board Scam

It’s a lot worse than just failsons. With Eric Fucking Trump trying to accuse Hunter Biden, presidential candidate Joe Biden’s son, of weaseling his way onto corporate boards (an inability to engage in self-reflection appears to be highly heritable, at least in the broad sense), it’s worth putting this whole kerfuffle into context. Most boards do very little and have very little expertise in the actual business area (some do, but they are rare). Consider the board of the Exxon-Mobil corporation, since Beavis–or maybe he’s Butthead–decided to compare Biden’s salary and expertise to that of Exxon-Mobil board members (Beavis–or maybe Butthead–is really very dim; those who might have some relevant expertise are in boldface):

  1. Susan Avery, former head of Woods Hole Oceanographic Institution. She probably knows something about oceans, though the oil bidness?
  2. Angela Braly, a healthcare executive.
  3. Ursula Burns, a telecommunnications company executive.
  4. Kenneth Frazier, a pharmaceutical industry executive.
  5. Steven Kandrian, CEO and long-time employee of MetLife insurance.
  6. Douglas Oberhelman, former CEO and long-time employee of Catepillar. They do make machines, and Exxon-Mobil uses machines, but…
  7. Steven Palmisano, former CEO of IBM. Maybe could say something about computational approaches to finding oil–seems like a real reach.
  8. Steven Reinemund, former head of PepsiCo.
  9. William Weldon, former head of Johnson & Johnson.
  10. Darren Woods, who is the head of Exxon Mobil.

The board members collect $300,000/year for their work, such as it is. Few of them seem to know anything about geology, oceanography, or the oil business. That’s the real scam–they get paid a lot of money to do very little work and provide very little actual expertise (the Mad Biologist would be willing to do the same for half the price. Just saying). It’s a form of corruption. Hunter Biden is par for the course–and that’s the real scandal.

This entry was posted in Bidness. Bookmark the permalink.

1 Response to The Corporate Board Scam

  1. The only purpose of any corporate board is to regularly increase the CEO and other company officers’ compensation.

Comments are closed.