Funny how some are fine taking the financial gains of these robber barons in the form of dividends and capital gains, but will bad mouth the "greed" of the C-levels from the same companies.
Hello pot, this is kettle.
After a quick look to find successful businessman who became President I came up with this list.
Jimmy Carter - very successful farmer
Herbert Hoover - very successful mining executive
George Bush Jr - turned a nice profit with the Texas Rangers and a couple of Oil Companies
A look at the first half dozen Presidents of the US paint another picture. All very wealthy land owners of their day. But it all cases it wasn't their business acumen that made them great leaders. A common link seems to be Military Careers or acedemics more than anything.
There doesn't seem to be a blueprint for an appropriate preparation for Greatness in the White House.
Last edited by luvmylabs23139; 01-16-2011 at 05:52 PM.
Hihope Hiland Heathen of Perth CD, RE, CGC, TDI. (RIP)
Yeah, right successful in the oil business As far as the Texas Rangers ***
- Arbusto, an oil exploration company, lost money, but it got considerable investments (nearly $5 million) because even losing oil investments were useful as tax shelters.
- Spectrum 7 Energy Corp. bought out Arbusto in 1984 and hired Mr. Bush to run the company's oil interests in Midland, Texas. The oil business collapsed as oil prices plummeted by 1986, and Spectrum 7 Energy was near failure.
- Harken Energy acquired Mr. Bush's Spectrum 7 Energy shares, and he got Harken shares, a directorship, and a consulting arrangement in return. Harken, under Bush, brought in Saudi real estate tycoon Sheikh Abdullah Bakhsh as a board member and a major investor. Over the next few years, Harken would turn out to have links to: Saudi money, CIA-connected Filipinos, the Harvard Endowment, the emir of Bahrain, and the shadowy Bank of Credit and Commerce International.
- A 1991 internal SEC document suggested George W. Bush violated federal securities law at least 4 times in the late 1980s and early 1990s in selling Harken stock while serving as a director of Harken. This is essentially the same kind of activity that Martha Stewart is going to prison over. Except at the time of the investigation, Mr. Bush's father was president and the case was quietly dropped.
Famous Texas baseball team the Texas Rangers just filed for bankruptcy. This dumb sports franchise in Texas owes “between $100 and $500 million” to its creditors. What does this mean, and how is it George W. Bush’s fault? Bush Junior “bought” the Rangers in 1989 by ponying up only $600,000 while his daddy’s oil buddies cronyed up the real money — and when the team was sold a decade later, Dubya walked away with $15 million.
Last edited by Roger Perry; 01-16-2011 at 06:03 PM.
BUT, I'm not sure I would agree that TR and FDR (AJ really predates the Industrial Revolution) fought corporate america "tooth and nail." I just finished reading the Wilderness Warrior, and while Teddy (one of my heroes) took issue with corporate exploitation of natural resources....his passion did not come from any disgust with profits...rather it was rooted his own love of wild creatures, particularly birds. BOTH Roosevelts also had the distinct advantage of being born into a very wealthy family.....they could AFFORD to pretty much pick whatever fight they wanted.
We all need to remember that WE, as consumers, are the ones that drive profits based on our demand of goods and services. How many here that are railing against the "corporate greed" of the banks have pulled all their cash out or divested themselves completely of these companies? My guess is none, but just a guess. If my guess is correct, then the guilty are hypocrites.