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Entry from January 04, 2007
“Chief executives have no more feeling for stockholders than for African baboons” (T. Boone Pickens)

T Boone Pickens is one of the richest people in America. In the 1980s, he headed Mesa Patroleum and successfully bid for Gulf Oil.

He had no sympathy for the entrenched Big Oil managers. In 1985, he said: “Chief executives, who themselves own few shares of their companies, have no more feeling for the average stockholder than they do for baboons in Africa.”

That’s not entirely true today. (Many chief executives get paid in company stock—which they somehow cash out right before the stock goes down.) However, T. Boone Pickens’ expressive language is memorable and appears on several websites.


Wikipedia: T. Boone Pickens, Jr.
Thomas Boone Pickens, Jr. (born May 22, 1928) is an American businessman, Chairman of the private equity firm BP Capital Management, and well-known takeover artist during the 1980s. With an estimated current net worth of around $2.7 billion, he is ranked by Forbes as the 103-richest person in America. 
(...)
Pickens was born in Holdenville, Oklahoma, to a Texas oil and mineral rights leasor. 

Time.com
High Times for T. Boone Pickens
A wily raider shakes up corporate America
By JOHN GREENWALD
Posted Monday, Mar. 4, 1985
(...)
Pickens has contempt for what he calls the entrenched managers who run Big Oil. He views them as high-salaried hired hands who care more about maintaining their jobs than improving stock value for their shareholders. Says he: “Chief executives, who themselves own few shares of their companies, have no more feeling for the average stockholder than they do for baboons in Africa.”

Posted by Barry Popik
Texas (Lone Star State Dictionary) • (0) Comments • Thursday, January 04, 2007 • Permalink