Gorilla and King Portfolio Candidates Message Board

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To: Uncle Frank who wrote (50339)	2/14/2002 10:58:09 PM
From: Stock Farmer	of 54800

Nobody can accuse me of being Uncle Frank's yes man, but on this issue I'm behind him. Unlike the mudge thread, the BOD is not a place for old men to hang around and look important [after finding myself agreeing with UF, I couldn't resist]. The BOD has a fiduciary duty to the shareholders, amongst which is to ensure that the appropriate checks and balances are in place from a governance perspective. When stuff like Enron unfolds, then the function they have been elected (and paid) to serve has not been served effectively. There is no question about this. The captain of the Exxon Valdez was not at the helm when his ship went aground. Nor should he have been, per se. Nevertheless he was responsible for effective piloting of his vessel and thus the consequences. Same with Enron's board. I've held BOD positions myself, and personally wouldn't want to be on a board with folks who don't think likewise. Now, all this being said there is another point of view. Which is to say that each member of Enron's board has just gone through an 80 B$ training program. Shame to waste it. John