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April 15, 2004
Not Quite One in 25 Million

This is an amazing little tale.

Originally posted onUnfogged, noted last July, and then resurrected today by Brad DeLong.

Carlyle Group ("The World's Largest Private Equity Firm" and 11th Largest Defense Contractor in America) founder David Rubenstein, solid Republican, said this in a speech in L.A.:

But when we were putting the board together, somebody [Fred Malek] came to me and said, look there is a guy who would like to be on the board. He's kind of down on his luck a bit. Needs a job. Needs a board position. Needs some board positions. Could you put him on the board? Pay him a salary and he'll be a good board member and be a loyal vote for the management and so forth.

I said well we're not usually in that business. But okay, let me meet the guy. I met the guy. I said I don't think he adds that much value. We'll put him on the board because - you know - we'll do a favor for this guy; he's done a favor for us.

We put him on the board and [he] spent three years. Came to all the meetings. Told a lot of jokes. Not that many clean ones. And after a while I kind of said to him, after about three years - you know, I'm not sure this is really for you. Maybe you should do something else. Because I don't think you're adding that much value to the board. You don't know that much about the company.

He said, well I think I'm getting out of this business anyway. And I don't really like it that much. So I'm probably going to resign from the board.

And I said, thanks - didn't think I'd ever see him again. His name is George W. Bush. He became President of the United States. So you know if you said to me, name 25 million people who would maybe be President of the United States, he wouldn't have been in that category. So you never know. Anyway, I haven't been invited to the White House for any things.


(emphasis mine)
source1 and source2

Ladies and Gentlemen, the CEO of the free world.

Comments

Previous Comments

The Funny thing to me is conservatives will tell you this kind of "legacy" is not as big an advantage as affirmative action is to women and minorities. When was the last time anyone other then family of a rich white man been given an executive position? What is really disgusting is that he got to leave after 3 years of doing nothing with a stellar item on his resume that would take the average person all of their life to acieve. That my friends is why it is the American Lie.

I'll bet he got a golden handshake as well.
I sometimes think that the dumber you are the easier it is to get the top jobs.