03-11-2010, 08:05 AM
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#12 (permalink)
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Easy Rider
Location: Moscow on the Ohio
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I believe Bayh is one of our politicians who we would be better off without. Between 2006-2008 his wife made over 2 million dollars serving on the board of WellPoint and four other health-care related companies. I don't mean to just single him out as I believe many of our politicians use their influence to enrich themselves and their families.
Quote:
The lovely Susan Bayh, formerly a mid-level attorney for the Eli Lilly Corporation headquartered in Indianapolis, has seen her income skyrocket since Evan joined the auspicious upper chamber of Congress in 1998.
The Bayhs are embroiled in a controversy over the inordinate number of corporate boards on which Mrs. Bayh serves. She is described by the liberal advocacy group Public Citizen as a "professional board member." The controversy will be certain to generate a closer examination of the couple's finances. Formerly overlooked tidbits like Susan Bayh's Wellpoint stock dumping profit should raise a few eyebrows as well:
On January 7, 2007, Susan Bayh exercised her options to acquire 3,333 shares of Wellpoint for an estimated cost of $147,000 and sold them the same day for an estimated price of $260,000, netting a tidy sum of $113,000. She repeated the process on May 17, 2007 for a net profit of $136,000. On December 11, 2007 she dumped an additional 1,430 shares of Wellpoint for $123,000. Why not? The entire Wellpoint board of directors was doing the same thing.
Bayh's total profits from stock dumping were $372,000. How much health care could the state of Indiana purchase for $372,000?
It appears that since Evan Bayh was elected to the Senate in 1998,
... numerous companies recruited her, and she eventually served on the boards of eight companies. At least one of them asked her to reduce the number of boards she served on, apparently because she was spread too thin to be effective.
And Susan is really hauling in the dough while strolling the medical corporation Board walk. Daniel Lee writes in the Indianapolis Star:
Susan Bayh served on these five boards from 2006 through 2008. All have a stake in health-care reform...
...Bayh's compensation during those years:
•WellPoint $976,000: Indianapolis-based health insurer, includes Anthem Blue Cross and Blue Shield.
•Dendreon $370,391: Seattle-based biotech company focused on cancer treatments.
•MDRNA* $388,169: Bothell, Wash., biotech company developing therapeutics to treat liver diseases.
•Curis $184,001: Cambridge, Mass., drug-development company focused on cancer treatments.
•Dyax $221,692: Cambridge, Mass., biopharmaceuticals company developing treatments for use in oncology and inflammation.
Total $2,140,253
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American Thinker Blog: Mrs. Evan Bayh Does the Board Walk |
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