You scratch my back, I'll give you $210 million

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This just in – people who serve on company boards are connected. In other news, the sky is blue and poop a corn pile smells.
If it’s not the direct “election” of golfing buddies, which the Home Depot board didn’t necessarily partake in, it’s CEO altruism, which is just a more nuanced version of cronyism – in which the expectation of connections a board member might have leads to increased generosity in pay packages. It’s good to see board members using the CEO golden rule: do unto other CEOs as you would have them do unto you, in a CEO capacity. Perhaps it’s just cronyistic boardroom panopticism, in which CEOs always feel they are being paid by unseen observers in a freakish Millian uber-boardroom in which all board members can be seen by one compensation committee.
The presentation of such news in such a revelatory manner sustains a disturbing assumption of average shareholder intelligence. What will be “discovered” next – nepotism or class immobility? Where's that third estate when you need it...(answer - Naples, for late autumn)

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