GWB: Master of Business Administration

[iorg]

Back in the days when that'd get you somewhere.

A series of beneficial moves

http://espn.go.com/mlb/bush/timeline.html

By Tom Farrey
(snipped from ESPN.com)

The sequence of events related to the purchase and sale of the Texas Rangers by George W. Bush and his partners:

1988

October: While helping manage his father's presidential bid, George W. Bush learns that Bush family friend and Fort Worth oil man Eddie Chiles is putting the Texas Rangers up for sale. (His father is elected president in November.)

1989

January: Bush is first mentioned in news reports as a potential candidate to run for governor of Texas in 1990, despite never having held public office. Republican leaders express concern about his lack of credentials and experience.

April: Bush helps arrange a syndicate to purchase controlling interest in the Texas Rangers for $89 million. He borrows $500,000 to buy a small stake in the team and convinces the investor group to make him managing general partner. Bush becomes the public face of the team, while co-general partner Rusty Rose assumes control over the financial side. He receives a reported salary of $200,000 and begins lobbying for a new stadium for the club, which plays in a renovated minor-league facility, Arlington Stadium...

[stellanoir]

1. does anyone else find it a bit odd. . .

that the first pResident with an MBA has damn well bankrupted us, has looted both Medicare and Social Security, not included funding for the conflicts in Iraq and Afghanistan in the budget. Aaaaaand misappropriated funds intended for Afghanistan for his obsession with Iraq. ( that's unconstitutional) That's to say nothing of the heinous war profiteering "sans" any scrutiny or oversight whatsoever, all the no bid wonders, and the fact that he's spent 70% of his term on vacation or fundraising, often on the tax payers dollar.

Where's the outrage. . .?

[acmavm]

2. Hey, the guy only had a C average, and I bet that was fudging it a bit.

.

[TN al]

3. Hey, running a business is different...

...then running a country. You run a business for profit. Why would anybody think that having an MBA qualifies you as president. I am sick of hearing people say that we need a businessman to run things. Sure * is inept in his own right but anyone with an MBA will fail if they try to use their business skills excusively in running the country.

[unblock]

4. not if you're a bush, you don't run a business for profit

at least, not for profit of the shareholders. you run it for profit of yourself and your buddies, whether they're directors, executives, suppliers, competitors, clients, whatever.

having worked for a small business in texas myself, i saw the ceo piss away a serious amount of money by throwing unneeded business to a friend of his. the company is now defunct, but the friend's business is doing well and the ceo is still good buddies. so the shareholders get screwed, but the ceo has a steadfast connection for whatever his next gig might be.

cronyism exists because it works. it sucks for everyone else, but it works for the cronies.