"At a very young age Minow became a leading figure both on the governor's [Adlai Stevenson] staff and in his presidential campaigns of 1952 and 1956. During the latter, Minow became acquainted with members of the Kennedy circle and in 1960 worked for the Kennedy presidential bid, becoming close friends with the President's brother, Robert. Reportedly, the two men frequently talked at length about the increasing importance of television in the lives of their children. It therefore came as little surprise that after the election Minow eagerly pursued the position of FCC Chair. Some observers nevertheless considered it unusual given his lack of experience with the media industry and with communications law.... During his two years in office, it was estimated that, other than the president, Minow generated more column-inches of news coverage than any other federal official.
"Newton (Norman) Minow. Born in Milwaukee, Wisconsin, U.S.A., 17
January 1926. Northwestern University, B.S. 1949; J.D. 1950. Married:
Josephine Baskin, 1949; children: Nell, Martha, and Mary. Served in
U.S. Army, 1944-46. Admitted to Wisconsin Bar, 1950; Illinois Bar,
1950; with firm of Mayer, Brown & Platt, Chicago, 1950-51 and
1953-55; law clerk to chief justice Fred M. Vinson, 1951-52;
administrative assistant to Illinois governor Stevenson, 1952-53;
special assistant to Adlai Stevenson in U.S. presidential campaigns,
1952, 1956; partner in firm of Stevenson, Rifkind & Wirtz, Chicago,
New York City and Washington, D.C., 1955-61; chair, the Federal
Communication Commission, 1961-63; executive vice president, general
counsel and director, Encyclopedia Britannica, Chicago, 1963-65;
partner, Sidley & Austin, Chicago, 1965-91; of counsel from 1991;
board of governors, Public Broadcasting Service, 1973-80; chairman of
the board, 1978-80; past chair, Chicago Educational TV, currently
honorary chairman; chair, publications review board, Arthur Andersen
& Co., 1974-83; chair of the board of overseers, Jewish Theological
Seminary, 1974-77; co-chair, presidential debates League of Women
Voters, 1976, 1980; professor of communications policy and law,
Annenberg Program, Northwestern University, from 1987. Board of
directors, Foote, Cone & Belding Communications, Inc.; Tribune Co.
[1991-96 -cast]; Sara Lee Corp.; AON Corp.; Manpower, Inc. Trustee,
Notre Dame University, 1964-77, from 1983; Mayo Foundation, 1973-81;
trustee, past chair of board, Rand Corporation; Chicago Orchestral
Association, 1975-87; life trustee from 1987; trustee, Northwesterrn
University, 1975-87, life trustee from 1987." (Minow bio, Museum of
Kloepfer Jr., public relations director of The Tobacco Institute
since 1967, got his bachelors degree in political science at
Northwestern in 1949.
"Minow has already shown his tastes to be pseudo-intellectual and downright lousy. He would impose Hamlet on the masses with all the ferocious conviction of a medieval torturer turning the screws for the victims' own good.... he is an arrogant young man who glories in his ignorance and is secretly laughing at the chaos he is stirring up with his plaything." (Should Ads Tell All? Printers Ink 1961 Feb. 22.)Printers Ink, 1961 / tobacco document
"Paul, Weiss, Rifkin, Wharton & Garrison... Partners from the
Chicago office, which is no longer in existence, were the following:
Adlai Stevenson, U.N., Willard Wirtz, Labor Department; Newton Minow,
chairman of the FCC; and William McCormick Blair,
Denmark. After Paul's death and Stevenson's departure, what was left of
the Washington office was merged into the Washington firm of Arnold,
Fortas and Porter...." Clients included Brown & Williamson Tobacco
Co. and Young & Rubicam International, Inc. The source given for
this is the book, Lions in the Street; the Inside Story of the Great
Law Firms, by Paul Hoffman (1973). In 1998, Arnold & Porter attorney
Murray Garnick helped Philip Morris throw the Minnesota tobacco lawsuit.
"In 1958, helped by testimony from Encyclopedia Britannica's Bill Benton, former FCC Chairman Newt Minow, Anna Rosenberg Hoffman, and Adlai Stevenson (who would become chairman of the board of directors of EB Films the following year), the Congress passed Public Law 85-864, the National Defense Education Act (NDEA), authorizing the government to distribute $480 million in matching funds to assist educational institutions in developing curriculum, programs, and learning aids, including film and audio-visual equipment... Elementary and Secondary School Act of 1965 (ASEA): Title II, authorizing $100 million for library resources, and Title III, which allocated $100 million for use in several areas, audio-visual aids and programmed materials among them (Project Discovery, and lobbying by Benton et al. changed focus away from textbooks)..." (Key federal programs leading to increased funds for academic films. Geoff Alexander, Association of Moving Image Archivists Conference, Boston, Nov. 2002.)
Newton Minow lobbies for propaganda to Arab countries: "In the midst of World War II, my old boss, William Benton, then assistant secretary of State and later a senator from Connecticut, came up with the idea of the Voice of America (VOA). One day, he described the VOA, which transmitted by shortwave radio, to RCA Chairman David Sarnoff, the tough-minded and passionate pioneer of American broadcasting. Sarnoff noted how little electronic power and transmitter scope the VOA had, then said, 'Benton, all you've got here is the whisper of America.'" (Mass media can battle mass destruction, by Newton N. Minow. USA Today, March 19, 2002.)Minow / USA Today 2002
"WALTER J. CUMMINGS, JR.* Chicago, IlL; Delegate-Director (1963- ).
Attorney; Member law firm, Sidley, Austin, Burgess & Smith. ACS
Illinois Division, Member: Board of Directors, Executive Committee;
Chairman, Legacy Committee. Former Solicitor General o£ the
United States. Secretary and Director: Breakwaters, Inc. President, Bar
Assn., 7th Fed. Circuit. Board Member: Citizens of Greater Chicago; St.
Vincent's Hospital; Madonna Center Settlement House; Lay Trustees,
Loyola University." (1966 House of Delegates and Board of Directors.
American Cancer Society Inc.)
Newton Minow had ties to the Federal Communications Commissioners who concocted the corrupt Fairness Doctrine interpretation for anti-smoker lawyer John Banzhaf.The Fairy Tale of John Banzhaf and the Fairness Doctrine
In 1984-85, Brown & Williamson Tobacco sued Walter Jacobson of CBS Channel 2 for libel, for claiming that B&W used a slimy advertising campaign for Viceroy cigarettes. "Along the way, Brown & Williamson booted its original lawyers at Chicago's Mayer Brown & Platt and headed to New York's Paul Weiss Rifkind Wharton & Garrison. On the other side, Channel 2 gave walking papers to Chicago libel specialists Reuben & Proctor whose clients include The Tribune, and headed to giant Sidley & Austin. The Sidley firm - despite the presence of powerhouse Newton Minow, Establishment fixture and media attorney (he advised Marshall Fields on the sale of the Chicago Sun-Times to Rupert Murdoch) - had little trial experience in libel." (Libel trial that may smoke. Warren, Possley & Tybor, On the law. The Chicago Tribune 1985 Nov. 12.) B&W eventually won a $3.05 million verdict, the largest ever paid by a news organization.Chicago Tribune, 1985 / tobacco document
The Board of Directors of CBS in 1986 included Marietta Tree, a member of the American Cancer Society's National Commission on Smoking and Public Policy; newscaster Walter Cronkite; anti-smoking activist Newton Minow; Henry Schacht; Michael Bergerac, the former chairman of Revlon; James Houghton; Franklin Thomas; Edson Spencer; James Wolfensohn; Roswell Gilpatric; and Harold Brown. Thomas Wyman was the CEO. (In All His Glory. The Life of William S. Paley. By Sally Bedell Smith. Simon and Schuster, 1990, page 583.) Brown, Schacht, and Thomas were also directors of Cummins Engine Company.
Minow was a Trustee of the Carnegie Corporation of New York since 1986, and its chairman from 1993 until retiring in 1997. His replacement as chairman was Thomas H. Kean, the anti-smoker former governor of New Jersey and a trustee of the Robert Wood Johnson Foundation. Vartan Gergorian was elected to replace President David A. Hamburg; Minow and James A. Johnson, who was on the board of directors of United HealthCare with Kean, were members of the search committee. (Carnegie Corporation elects new president. Press release, Jan. 9, 1997.)Carnegie Corporation elects new president / Carnegie Corporation of New York
"The creation of the Commission on Presidential Debates was the direct result of a recommendation by the Commission on National Elections, a panel sponsored in 1985 by Georgetown Unversity's Center for Strategic and International Studies. That panel, which was co-chaired by Melvin Laird and Robert Strauss, recommended that steps be taken to establish an organization whose sole purpose is to sponsor presidential and vice presidential debates during the general election period. A second study was conducted in 1986 at Harvard University's Institute of Politics under the sponsorship of the Twentieth Century Fund. Chaired by Newton N. Minow, the group issued a final report: 'For Great Debates,' which also urged that such an organization be built." Newton N. Minow was a director of the 1996 Commission on Presidential Debates.1996 Commission on Presidential Debates / tobacco document
"Opening Salvos: Who Should Participate in Presidential Debates? By Newton N. Minow, Clifford M. Sloan, and Carlos Angulo. A Century Foundation Report," which advocates limiting participation to Republicrat and Demopublican candidates. Angulo is an anti-smoker lawyer who files petitions for FDA regulation of Vector's Omni cigarettes, Star Scientific and Brown & Williamson's Advance cigarettes, and Ariva tobacco lozenges. The Century Foundation (formerly the Twentieth Century Fund) also published Minow et al.'s "Presidential Television" in 1973.Minow, Sloan & Angulo / Century Foundation
Minow was a member of the Advisory Board of the Institute for the
Study of Smoking Behavior at Harvard University, circa 1987. Other
members of the Advisory Board included Joseph A. Califano, Beatrix A.
Hamburg, Joseph P.
Newhouse, former Surgeon General Julius B.
and former NCI director/AHF Trustee Arthur Upton.
The Institute Staff
included Thomas C. Schelling, the Director; and John Mercer Pinney (Skull
& Bones 1965), Nancy
A. Rigotti, and Michael A. Stoto. The Research Advisory Committee
included David M. Burns, Ellen
R. Gritz, Jeffrey E. Harris, Michael
Pertschuk, and Kenneth Warner. Burns a member of the Science
Advisory Board of the EPA ETS report, and also testified against the
tobacco industry in the US Department of Justice lawsuit.
Minow and his longtime crony Jack R. Bierig, and other members of Sidley & Austin (Michael W. Davis, Thomas W. Merrill, and Larry J. Nyhan) were consultants to the 1997 "Analysis, Report, and Recommendations of the American Medical Association Task Force on the Proposed Tobacco Settlement Agreement." The Task Force included rabid anti-smokers Ronald M. Davis, John Slade, and Randolph D. Smoak. (Bierig accompanied Minow at Senate hearings in 1979, at which they represented the AMA concerning the FTC's ophthalmic goods rule.)AMA Task Force, 1997 / tobacco document
Bierig has been a partner of Sidley & Austin since 1978. "He has extensive experience in litigation challenging government action affecting health care providers, copyright and landmark cases, and FDA matters. He has represented numerous associations and health care providers in government antitrust and health fraud investigations, in actions brought by the Department of Justice and the Federal Trade Commission, and in private antitrust cases." The American Medical Association is one of his principal clients.Bierig bio / Sidley & Austin
Bierig represented the AMA in its 1992 amicus curiae in Daubert v.
Merrell Dow Pharmaceuticals, Inc. Minow's old crony from the FCC,
Lee Loevinger, is an Advisor Emeritus to the Atlantic Legal Foundation
which brought the Daubert suit; and Stephen T. Whelan, husband of
Elizabeth Whelan of the American Council on Science and Health, is a
director of this foundation.
Minow is a current Advisory Trustee of the Rand Corporation. His
past terms have been 1965-1975, 1976-1986, and 1987-1997. Other curent
trustees include Frank Carlucci and Arthur
Levitt of The Carlyle Group;
former Rep. John Edward
Porter; and Harold Brown and John S. Reed,
members of the Council on Foreign Relations and the Board of Directors
of Philip Morris. Past Trustees include Kenneth I. Shine, president of
the Institute of Medicine (1993-2002); Secretary of Defense Donald
Rumsfeld (1977-1987, 1988-1998, and 1999-2001). Minow, Brown,
Reed, Carlucci, Rumsfeld and former Rep. Paul G. Rogers were all RAND trustees during the Manning study of
smoking costs, which was intended as a fallback position in case the
flagrant frauds of the OTA and SAMMEC were too openly attacked.
In 1969, Minow's fellow RAND Trustees included William R. Hewlett, President of the Hewlett-Packard Company; and Frank Stanton, President of Columbia Broadcasting System, Inc.RAND Trustees, 1969 / tobacco document
Minow was a founding director of Big Flower Holdings Inc. Directors Robert M. Kimmitt and Mark A. Angelson were also at Sidley & Austin, and Joan D. Manley was on the board of directors of Aon with Minow.Big Flower Holdings 1999 DEF 14A / Securities and Exchange Commission
Wolverine Investors of Chicago
owned 12.49% of its stock in 1999.
Newton Minow and Daniel Tisch were trustees of each of the Trusts which
were the general partners of Wolverine Investors. The beneficiaries of
each of the Trusts were family members of J. Ira Harris.
Ira Harris and Felix Rohatyn of Lazard Freres were advisors to the RJ Reynolds special committee of outside directors concerning its buy-out. (RJR Board Asserts Independence In Buy-Out Decisions. By J. Helyar et al. Wall Street Journal Nov. 9, 1988 p. A1. In: News Briefs. Awareness Bulletin, Lorillard Inc. Nov. 23 1988;18(18).)Awareness Bulletin Nov. 23, 1988 / tobacco document
Lionel N. Sterling, a director of Specialty Chemical Resources since 1989, was a co-founder of Whitehead/Sterling with Edwin Whitehead in 1988. Whitehead was the millionaire industrialist who funded the Whitehead Institute for Biomedical Research at MIT. Sterling is a crony of Research!America director John Whitehead and other members of the Whitehead family.
In 1988 and 1989, a person named Daniel R. Tisch was Project Director of the Smoking and Health Project of The Circle, Inc., a McLean, Virginia firm which was highly involved in two Surgeon General reports: "The Health Consequences of Smoking NICOTINE ADDICTION," 1988, Introduction, p. 21; and "Reducing the Health Consequences of Smoking 25 YEARS OF PROGRESS," 1989, Introduction, p. 22.Nicotine Addiction, 1988 / CDC (pdf)
Newton Minow was a director of Manpower from 1991 until 2001. A fellow director is J. Ira Harris of The Pritzker Organization LLC, also a senior managing director of Lazard Freres.Manpower 2000 DEF 14A / Securities and Exchange Commission
Newton Minow was a director of FCB from 1980 until 1997. Now called
True North Communications, it was founded by Emerson
Cone, and Don Belding, former members of Albert Lasker's firm Lord
& Thomas when it was dissolved in the 1940s. Emerson Foote was
Director and Vice Chairman of the American Cancer Society from 1944 to
1952, and a founding director of the American Heart
(FC&B hatches three subsidiaries. Broadcasting, May 1969.)
Foote, Cone & Belding handled Lorillard's advertising in 1983. (Memo from Stephen M. Molloy of Lorillard to Joseph Robbie (who besides heading the Minnesota Candy and Tobacco Distributors Association had also been a Trustee of the American Health Foundation), April 25, 1983.)Memo from Molloy to Robbie, 1983 / tobacco document
Minow was a director of Nixon and GHW Bush presidential advisor W. Clement Stone's Aon Corporation from 1990 until retiring in 2001.
Minow is an emeritus public trustee of the Mayo Foundation, along with the former Assistant Secretary for Health in the Johnson and Clinton administrations Philip R. Lee, and Hanna H. Gray and J. Irwin Miller, directors of Cummins Engine Company.Board of Trustees / Mayo Foundation
Newton Minow is on the board of directors of FIRM, "Families Interested in Responsible Media."Minow / Families Interested in Responsible Media
In 1985, Martha L. Minow and Beatrix A. Hamburg were
trustees of the William T. Grant Foundation, with $102,863,000 in
assets. Robert J. Haggerty
was president; he became a trustee of the American Health Foundation
around 1989. "Since 1978, at least 21 foundations have supported either
anti-smoking organizations or anti-tobacco programs pursued by firms
without histories of anti-smoking activity. Awards range from $5,000 to
$726,300 and total $2,656,426. Although these awards date back ten
years, the majority of the donations were made in the mid-1980s. During
the last five years, foundations gave $2,615,926 to further the efforts
of the anti-smoking 'movement.' The grantors include several prominent
organizations, e.g., The Rockefeller Family Fund, Carnegie Corporation
of New York, and The Kaiser Family Foundation. In addition, corporate,
banking and media-related interests are among the contributors." (Memo
from Carol Hrycaj of the Tobacco Institute to Richard Marcus, Peter
Sparber, and Susan Stuntz, Jan. 14, 1988.)
Martha Minow, a professor of law at Harvard University, is a director of the Charles H. Revson Foundation. Beatrix A. Hamburg and Joshua Lederberg are directors emeritus. Simon H. Rifkind, its chairman from 1977 to 1987 and honorary chairman until 1990, was a senior partner of Paul, Weiss, Rifkind, Wharton & Garrison. In 1960, he was was a director of Loew's Theatres, Inc., which later acquired Lorillard Tobacco. Rifkind's partner Paul F. Wharton was a director of Benson & Hedges and Tobacco and Allied Stocks, which acquired Philip Morris. The foundation supports fellowships at Cornell University Medical College, Memorial Sloan-Kettering Cancer Center, Mount Sinai Medical Center, and Rockefeller University.Board of Directors / Charles H. Revson Foundation
Newton Minow's daughter Nell Minow carries on his cause of expressing 'anxieties about consumerism, child-rearing, and suburban living' as "Movie Mom." "Washington attorney Nell Minow watches for corporate corruption by day and, as 'Movie Mom,' screens flicks for kids at night." (The Mother of all critics, by Steve Friess. Newsweek Dec. 6, 2002.)Friess / Newsweek 2002
Memo from Jim Hedlund to Nell Minow, March 22, 1982, griping about the Federal Trade Commission's proposed cigarette warning size label. Includes Hedlund's hand-drawn skull and bones, with simpleton messsage, "Cigarettes Cause Cancer!" From the Files of FTC: WATCH.Hedlund to Minow, 1982 / tobacco document
"At the Corporate Library research group in Washington, governance expert Nell Minow sees a correlation between tobacco's problems and the rest. 'It is only one of countless examples to support the most cynical view of Corporate America,' she said." The examples given include Enron and ImClone, both of which were infested with the health fascist crowd. So, the media sponsor the bloodsucking leeches who are causing all the problems to stand there and go tsk-tsk at everyone else. (Burns: Anything for the almighty dollar?: Big business: A steady erosion of public's trust. Chicago Tribune 2002 June 16.) P.S., her daddy, Newton N. Minow, was a director of The Tribune Company from 1991 to 1996.Chicago Tribune 2002 / tobacco document
Lens Investment Management was founded in 1991 by Robert Monks and Nell Minow. As of 1999, both were Principals. Monks and Minow have also co-authored several books, including "Corporate Governance" (Blackwell 1995); "Watching the Watchers;" and "Power and Accountability" (HarperCollins 1992). "Power and Accountability" includes a chapter on how Henry B. Schacht has turned Cummins Engine Co. into a little dictatorship.
"Monks is admired - and feared - as one of the world's most prominent shareholder activists. He co-founded and is a Principal of an investment fund that targets poorly performing companies and, with active shareholder participation, turns them around. He is also the great-grandson of a founder of both General Electric and AT&T." (The Paula Gordon Show, Sep. 9, 1998.)Monks / The Paula Gordon Show
"In a seaside epiphany Monks decided to use his knowledge of the mechanics of corporate decision-making to show how to make corporations accountable for their actions.... Where once shareholder activism had been synonymous with the Gilbert brothers and the clownish Evelyn Y. Davis, Monks took it to a new level of behind-the-scenes respectability. Financial deregulation had created new markets for corporate control. Monks learned to exploit them by becoming a consultant on good-government issues to the richest organizations. His Institutional Shareholder Services slowly began advising blue-chip institutional investors: the California Public Employees Retirement System, General Motors, Fidelity, Wells Fargo, and TIAA-CREF, the university teachers' retirement system.
"...Though born into a wealthy and powerful Boston family whose roots were established in New England before the Revolution, Robert Augustus Gardner Monks was never intent on simply leading a life of privileged luxury. Driven by a deep desire to make himself 'useful to the world,' he took steps to meet this end. He graduated from Harvard University - Phi Beta Kappa, magna cum laude - and Harvard Law School, and subsequently joined Boston's second largest law firm where he became one of its youngest partners ever. Monks then embarked on a new path which led him towards his ultimate goal of far-reaching public service.
"Included are his term as the Department of Labor's pensions administrators, his bid for the Sears board of directors, a run that won him recognition as 'the leader of the battle to reform American corporate governance'; and his three attempts at the Senate, all of which were invaluable training for the guerrilla war he would wage on big business." (A Traitor to His Class: Robert A.G. Monks and the Battle to Change Corporate America. By Hilary Rosenberg. The Boston Globe, Jan. 19, 1999.)Rosenberg / Amazon.com
"Miss Olivia Phelps Stokes, daughter of Canon and Mrs. Anson
Phelps Stokes, has gone to Lenox, Mass., where she will be a godmother
at the christening at Trinity Episcopal Church tomorrow of Robert
Augustus Gardner Monks, son of the Rev. Dr. and Mrs. George Gardner
Monks, of Clipston Grange, Lenox." (Elizabeth Stokes To Be Godmother.
Washington Post, Jun. 9, 1934.) Rev. Dr. George G. Monks's father was
Dr. George Howard Monks, former
surgeon-in-chief at Boston City Hospital and lecturer on surgery at
Harvard Medical School from 1886-1914. He studied four years at Vienna,
Liepzig, Heidelberg, and Dresden and Paris. (Dr. George H. Monks. New
York Times, Jan. 27, 1933; Mrs. Geo. H. Monks, A Civic Leader, 74. New
York Times, Apr. 24, 1944.) Anson Phelps Stokes (1838-1913), the
business partner of Isaac N.
Phelps of the Central Trust, was the forebear of two
successive generations of Bonesmen named Anson Phelps Stokes (S&B
1896 and 1927). The Monkses gave a dinner party for Olivia Stokes and
for Robert Monks's godfathers, Nathaniel Noble and John M. Harris.
(Mrs. E. Prentice Gives a Musicale. New York Times, Jun. 11, 1934.)
Mrs. Monks gave a large reception honoring her and her husband's
mothers. "At the tea tables were the Misses Mary Parsons and Olivia
Phelps Stokes, Mrs. Samuel Frothingham, Mrs. George S. Reynolds, and
Mrs. Walter Clarke. (Mrs. George Monks Hostess in Lenox. New York
Times, Sep. 26, 1937.) Mrs. Reynolds was the sister of Charles Dewey Hilles Jr., S&B 1924, who
became a director of the American Cancer Society two years later. Mary
Parsons was the sister of John E.
Parsons, a founding member of the ACS's predecessor, the American
Society for the Control of Cancer, and the head of Memorial Hospital.
(Miss Parsons, 77, Berkshire Leader. New York Times, Feb. 7, 1940.) The
Monkses gave a dinner for around seventy guests, "chiefly Episcopal
clergy," including Rev. Dr. William Appleton Lawrence. (Tea Given In
Berkshires. New York Times, New York Times, Oct. 9, 1941.) Robert A.G.
Monks was enegaged to Millicent S.C. Sprague, the granddaughter of
Andrew Carnegie II. (Troth Announced of Miss Sprague. New York Times,
May 2, 1954.) Mrs. Robert A.G. Monks was an attendant at the
wedding Patricia White to Carl W. Timpson Jr. Her fellow attendants
included Joan Babcock, who
married James Cox Brady, and Kate P. Todd, the sister of anti-smoker
New Jersey Governor Christine
Todd Whitman. (Patricia White Is Wed in Peapack. New York Times,
Dec. 4, 1955.)
Robert A.G. Monks "was born into a family of old money and married
into a family with even more money." After graudating from Harvard and
Harvard Law School, he "spent seven years with a prominent Boston law
firm, then bought out his wife's family coal and oil business and
turned it into a diversified multimillion-dollar enterprise." In 1970,
he sold his interest in it and moved from his hometown of Boston to his
wife's family estate on Cape Elizabeth in Maine. He ran the most
expensive primary campaign in Maine history against Sen. Margaret Chase
Smith (R-ME). (Is the Great Lady From Maine Out of Touch? By Berkeley
Rice. New York Times, Jun. 11, 1972.) "Monks has also been a key figure
in Massachusetts Republican politics. He was an alternate delegate to
the 1968 Republican National Convention and was chairman of a
Republican state finance committee. But he also was the single largest
contriubutor in 1968 to the state campaign funds of Rep. William
Hathaway (D-Maine), who has been a strong backer of proposals for
low-cost oil imports into New England. Monks gave Hathaway $2500."
Monks was formerly an officer of C.H. Sprague & Son, a Boston-based
petroleum distributor, before becoming a key figure in Atlantic World
Ports, a proposed free trade zone; and he or companies associated with
him had options on land which the State of Maine wanted to use.
(Chemical Concerns, New Firm Offer Oil Plans. Washington Post, Times
Herald, Jun. 24, 1969.) C.H. Sprague was former 25% owned by Shell Oil.
(Second Oil Firm Eyes Machiasport. Washington Post, Times Herald, Jun.
26, 1969.) In 1976, he was named a director of the Boston Co. Inc., the
holding company for the Boston Safe Deposit and Trust Co., and was
chairman from 1968-71. He was a large contributor Vice President Bush's
1980 campaign, and received a post as administrator of the Labor
Department's pension and welfare benefits program. (Labor Department
Post Filled. New York Times, Dec. 23, 1983.) The Boston Company merged
with Shearson / American Express Inc. in 1981. "He went to Harvard with
Sen. Edward M. Kennedy and is a close friend of Vice President George
Bush." (Robert Monks: A Pension Boss With Unorthodox Ideas. New York
Times, Jul. 15, 1984.)
In 1991, Monks targeted Sears, Roebuck and Co. on the grounds of low performance and too many inside directors, but lost his bid for a seat on the board of directors. In 1992, Monks was joined by others, including the $80 billion California state pension fund, CalPERS, and the United Shareholders Association. Bad things just happened to happen to Sears: "The Sears auto repair facilities were charged with fraud by the Attorneys General of California and New Jersey, who complained about the 'company culture.' A law suit was filed in connection with Martinez' appointment as CEO of the merchandise group. Dean Witter partnerships had 'roll up' problems." Finally, "The company announced the appointment of two new outside directors, Michael Miles, chairman of Philip Morris, and William LaMothe, former CEO of Kellogg."Monks website
The end result of this maneuvering was that directors with ties to the company were almost eliminated. And, thanks to the adoption of a shareholder proposal that members of the nominating committee be outside directors, they brought in their friends to dominate the board.
Monks calls pension funds to arms. E Financial News, June 18, 2001. "Monks's new book develops his belief that pension funds should exercise proper stewardship over corporates which have gained increasing amounts of power, often at the expense of society, and even over their own customers. Harm done by tobacco companies particularly irritates Monks, as do the way corporates lobby for influence over government." [Obviously he prefers to have control by a secret cabal of insiders, e.g., the Lasker Syndicate. -cast]Monk / Ragm.com 2001
The Calvert Social Investment Fund regurgitates the standard anti-smoking hate propaganda, including the Centers for Disease Control's lie of the "400,000" deaths supposedly caused by smoking, which is based on the scientific fraud of purposely using defective studies to falsely blame smoking for diseases caused by smoking; and the Office of Technology Assessment's Big Lie that smoking supposedly "burdens our society" with "more than $20 billion in direct health care costs in addition to tens of billions of dollars in indirect costs and lost productivity," which is based on falsely pretending that costs paid by smokers were paid by nonsmokers, while simultaneously pretending that nonsmokers' health costs do not exist. This demonstrates that these people do not have the slightest glimmer of either intelligence or ethics.Rationale for the Fund's Policy on Tobacco / Calvert Social Investment Fund
"Look Who Demands Profits Above All," by Robert Reich (Los Angeles Times Sep. 1, 2000.) How CalPERS and other institutional investors help force layoffs, and make European companies to abandon their traditional social democracy.Reich / Commondreams.org