Slate has a delightful piece on the board of Black’s company, Hollinger International. It seems the directors, such as Henry Kissinger and Richard Perle, had little serious business experience and basically rubber-stamped Black’s plans.

Daniel Gross writes, “Most of these more or less honorable folks were basically idle directors. They showed up at meetings, ate lunch, rubber-stamped corporate plans, and cashed their checks.”

And the business types weren’t necessarily top notch either: “But Black seemed to have a genius for recruiting CEOs with legal issues, as Steven Pearlstein noted in Wednesday’s Washington Post. A. Alfred Taubman, the former CEO of Sotheby’s, remained on Hollinger’s board even after he had been convicted of violating antitrust laws. Dwayne Andreas, the paterfamilias of Archer Daniels Midland, the agri-business giant that in 1996 pleaded guilty to price-fixing, was also a longtime board director.”

“Given this cast of characters, it should come as no surprise that over the years the stock of Hollinger International has failed to keep pace with the broad market indexes and many of its peer media companies. After all, putting a bunch of right-wingers with occasionally dubious foreign policy credentials in the position of directing a profit-making business seems almost as illogical as putting a bunch of right-wingers with occasionally dubious business credentials in charge of foreign policy.”
Zing!