"Board members must have no connections
with business enterprises that would affect
their judgment as directors"
Article in Consumers Reports
looking for new members for
their board of directors
I ran into a guy on the street one day that talked to Mike Smith at the YMCA one day and three days later got a check in the mail for a plane he wanted to buy. A couple weeks later he got a somewhat embarrassed phone call from a woman at the bank saying that she couldn’t find any paperwork on this plane purchase. Could he please come in and sign a note?.
"Oh," he said, being a kidder, "That money?. I thought that was some kind of promotional offer from the bank. You know, buy me a plane and I’ll tell all my friends I got my money from Heritage. "
A long silence ensued, and somewhat chastened, he came in and signed the note.
If Mike Smith was looking to his boss Dick Covell to be the role model, there’s no doubt how he got into trouble. Read the full article here