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Evan Bayh: Hypocrisy on the Public Option

Stocks in this article: WLPEMMSLLY

What does this say? To me, it clearly shows that she has no long-term interest in seeing WellPoint's stock price increase. She's there to get her cash and stock and cash out as soon as she possibly can. She's doing this for the money, not for the benefits of seeing shareholder value increase.

There is more proof that Susan Bayh seems oblivious to the concept of increasing shareholder value -- the very purpose of a corporate director -- through effective monitoring of the company's management.

Since 1994, she has served as a director for a small Indiana radio company called Emmis Communications (EMMS). This is a company with a $40 million market capitalization. Bayh currently serves on the compensation committee. For some unfathomable reason, despite Emmis' tiny size, Bayh has agreed that Emmis should have a corporate jet.

The CEO and COO/CFO are able to fly on the jet for personal use -- paid for by Emmis' shareholders -- at a cost of almost $100,000 last year. This is simply a ridiculous waste of money. A company this size should see its execs flying AirTran (AAI) and Southwest (LUV), not in a corporate jet.

A tip to Susan Bayh: When your company's stock is down 93% over the last five years and is being warned that it will be delisted by Nasdaq, it shouldn't own a corporate jet.

I don't begrudge the Bayhs making money; this is America. However, I am highly dubious when I read that Evan Bayh has repeatedly said that he is not influenced by the corporate ties of his wife.

In 2007, he told the Fort Wayne Journal Gazette: "I can honestly tell you that if my wife did not have a job, none, I can't think of a single decision I've made that would be any different. I look at what's best for our state and our country and my own conscience. My integrity matters more to me than anything, so I always do what's right for the people who put their trust in me."

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