Secret of board member success? Sucking up (So what else is new?)

Al-Reuters ^ | April 30 2007 | Al-Reuters

[Parody]

NEW YORK (Reuters) -- The most sought-after corporate board members are those who curry favor with fellow directors, not those who are active in standing up for shareholders, a new academic study has concluded.

The study paints an unflattering picture of outside directors in corporate America, who have come under increased scrutiny in recent years following a series of major U.S. business scandals. boardroom_meeting.03.jpg NEWSMAKERS

The study by business professors James Westphal of the University of Michigan and Ithai Stern of Northwestern University suggests that directors - who are supposed to be watchdogs for shareholders - still are not independent enough.

The study, based on a survey of 760 directors at large and medium-size U.S. companies, found that directors who ingratiate themselves with peer directors and avoid challenging management can increase their chances of gaining additional board seats at other companies.

[Parody]

Of course, www.despair.com already noted this fact, as demonstrated here:

[cherry]

this can't be right because we've been lectured here on FR that these people are the real PRODUCERS in this economy...not the rabble like most of us.....that their work on company boards requires the most intelligent, most innovative, the brightest and the best minds.....

now we learn that they basically are scratching each others backs and racking in millions for doing it....