David Silenus
The corruption — and conflicts of interest — in the Trump regime are unparalleled in modern US history …
“Regardless of the expressed reason, there is the perception that the company is cementing its relationship with a high-level official by handing out an expensive parting gift.
A board of directors is well within its authority to confer the benefit under the “business judgment rule” by which courts refuse to review most compensation decisions, so any shareholder challenge would be doomed to failure.
As long as the company stays within the letter of the law, there is no danger that handing out a benefit to a departing executive will be deemed improper …
“These laws present challenges for the corporate executives Rex W. Tillerson from Exxon Mobil [ State ] and Gary D. Cohn of Goldman Sachs [ National Economic Council ] ,
along with the investment billionaires Wilbur L. Ross [ Commerce ] and Steven Mnuchin [ Treasury ] …
Their nominations will raise additional questions beyond those facing Trump about how they will set aside their business ties when entering public service …”
How much should business and government mix when corporate executives and investors join the government?
Source: With Cabinet Nominees, a Challenge to See Which Master Is Served – The New York Times