Huge problem with American business had been the trend to stack Boards of Directors with politically correct professors.
Most companies have their designated black board member (what is Vernon Jordan for?) and their designated woman board member and their designated hispanic board member.
These people are often professors, or corporate “rainmakers” who know virtually nothing about the industry.
And they are paid a ton more than they historically were paid. So they rubberstamp management.
This trend was to offset “insiders” on boards, who were execs of the company and knew the business.
The consequence of all this is the Chairman and the CEO are more powerful, ruling the board and all policies.
No wonder they get such big bucks.
RE: Huge problem with American business had been the trend to stack Boards of Directors with politically correct professors.
I have always wondered if Nobel Prize winner, Paul Krugman is one of those you mentioned.
How about Al Gore ?