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#1 |
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Guest
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From the NYT:
THE ABSENTEE DIRECTOR Last year was exceptionally trying for the directors of Morgans Hotel Group, whose former chief executive, W. Edward Scheetz, resigned after a young woman died in his Las Vegas condominium, apparently of an accidental drug overdose. The company’s board held 11 scheduled meetings and a number of ad hoc meetings in connection of the departure of Mr. Scheetz, according to the latest Morgans proxy statement. Having a director with the stamina to repeatedly ride a bicycle up some of the highest peaks in the French Alps would seem to be a bonus in times of such stress. Yet Lance Armstrong, the seven-time winner of the Tour de France, did not attend a single meeting of his fellow Morgans directors last year, the proxy states. Early this year, Mr. Armstrong gave up his seat on the board after collecting more than $70,000 in fees and company stock in 2007. Through a spokesman, the company said: “Lance Armstrong was a valued member of our board of directors. During Mr. Armstrong’s service, he was engaged and readily available to the C.E.O. and other directors for consultation on various issues and projects.” PATRICK McGEEHAN |
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#2 |
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On Apr 22, 8:19 am, dave a <blkcatREMOVET...@gmail.com> wrote:
> From the NYT: > > THE ABSENTEE DIRECTOR Last year was exceptionally trying for the > directors of Morgans Hotel Group, whose former chief executive, W. > Edward Scheetz, resigned after a young woman died in his Las Vegas > condominium, apparently of an accidental drug overdose. The company’s > board held 11 scheduled meetings and a number of ad hoc meetings in > connection of the departure of Mr. Scheetz, according to the latest > Morgans proxy statement. > > Having a director with the stamina to repeatedly ride a bicycle up some > of the highest peaks in the French Alps would seem to be a bonus in > times of such stress. Yet Lance Armstrong, the seven-time winner of the > Tour de France, did not attend a single meeting of his fellow Morgans > directors last year, the proxy states. Early this year, Mr. Armstrong > gave up his seat on the board after collecting more than $70,000 in fees > and company stock in 2007. > > Through a spokesman, the company said: “Lance Armstrong was a valued > member of our board of directors. During Mr. Armstrong’s service, he was > engaged and readily available to the C.E.O. and other directors for > consultation on various issues and projects.” > PATRICK McGEEHAN Look at it from LA's point of view. He joins the board and he's got to deal with the CEO's dead fill-in-the-blank? He's LA, not water carrier. |
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