Chelsea Clinton joins IAC board of directors

[Freddie Stubbs]

Source: Associated Press

NEW YORK — Chelsea Clinton has joined the board of directors of IAC/InterActiveCorp, media mogul Barry Diller's Internet holding company.

Clinton, 31, is a doctorate student at Oxford University and working at New York University. She is also working with the Clinton Foundation and the Clinton Global Initiative, IAC said on Monday.

Previously, she has worked at McKinsey & Co. and Avenue Capital.

IAC, which owns websites such as Match.com and Citysearch, also named Sonali De Rycker, 38, to its board. She is a partner at venture capital firm Accel Partners in London.

Read more: http://moneywatch.bnet.com/economic-news/news/chelsea-clinton-joins-iac-board-of-directors/6304813/

[bigworld]

1. While Chelsea's a lovely lady, does she think she got this for anything other than her last name?

[MineralMan]

2. I don't know what Chelsea thinks. Do you?

People are named to boards for many reasons. Sometimes for just having a certain last name. Beyond that, I don't know much about Chelsea Clinton's capabilities or talents. From what she's doing, she sounds pretty competent to me. But maybe you have information I don't have.

[DURHAM D]

3. Chelsea is a numbers and policy wonk.

She would likely have even more opportunities if her last name was not Clinton.

[ThomCat]

38. Doubtful. Her first job after her first degree

payed $100,000/year in a field that routinely started people out at slightly more than 1/3 of that at the time.

She started at the top, and worked her way up because of who she was.

[DURHAM D]

40. Jealousy is not pretty.

Neither is sexism.

[ThomCat]

39. dupe

[Dogtown]

5. They're probably sour.

So it's ok if you can't reach that high.


:eyes:

[snooper2]

21. She's got the same thing that got Hillary on the board of Wal-Mart

[KamaAina]

23. Well, how do you think Boosh got on the board of Harken Energy?

At least Chelsea won't run the company into the ground!

[Rex]

43. Sour grapes?

She run over your dog? :rofl:

[lunatica]

47. Of course her name opens doors for her

What do you expect? She and her husband married excedingly well. But she also comes from a family that works extremely hard to help people who need it. Hillary has long been an activist and advocate for women and children. We're lucky to have her no matter how she started off. Hillary has done an outstanding job as Secretary of State.

It's the same with the Kennedy family. They're wealthy but their family tradition of serving America has been a great blessing to America.

I think Chelsea will be a real asset to this country.

[Stuckinthebush]

4. Ah, it is nice to have connections

Good for Chelsea, but I'm not surprised. I'm sure she is a bright person but this is likely an example of getting on a Board because of who you are not what you know.

[Scottybeamer70]

9. I'm thinking most board members are there

bedause of "who", and not "what."
Connections are always nice if ya can afford 'em.

[Stuckinthebush]

19. Yes they are!

And Ms. Clinton has them.

[vets74]

11. Why else would ANYBODY be on a Board of Directors ?

What else you think BoD's do ?

New Schmooze City.

[Stuckinthebush]

18. Indeed

That's what they are there for.

[AngryAmish]

26. That is why they are called rent-a-bums

nice pedigree, will go along with management, don't cause trouble...

[Bandit]

13. Can you imagine the Bush* daughters getting a similar job?

I certainly can not.. this position takes a very smart and talented person...I just never got the impression either of the Bush* daughters could fill that bill.

[Stuckinthebush]

17. Absolutely I can

It happens all of the time.

[TwilightGardener]

6. How does one get named to a board? And what does one do on the board?

I have never understood this, being an hourly wage peon.

[rfranklin]

7. You act as a rubber stamp for the CEO who chose you for the board...

and provide him/her with compensation far beyond their contribution to the corporation.

It used to be that the directors were there to protect the shareholders but since corporations are now people with inalienable rights, they can love their CEO long time, baby!

[TwilightGardener]

8. Thanks.

[laundry_queen]

34. So there are no 'rules' anymore

in the US?

Here in Canada board members have certain 'legal responsibilities' and can be held accountable for things like financial fraud or illegal activities. And you can't use the 'I didn't know' defense - it is your responsibility to know so the rubber stamping isn't nearly as bad. If these kinds of rules don't apply in the US it's no wonder your financial system failed. yeesh.

[vets74]

12. CEOs tend to get lost in day-to-day detail. BoDs look further out.

The big thing that BoD members do is to keep out feelers for rumor and for political changes.

Choosing new CEOs is part of it, too. Along with picking the corporate law firm, getting bank connections, setting up lobbying, with where to go for long-term technology choices.

BoDs vary from industry to industry. In tech, this is an active governance team.

[zentrum]

14. You have to be part of

....an inner circle to begin with. Then the prestige goes both ways--the board hires you for your money, contacts (what used to be called "your rolodex") and your last name. Then you can use board affiliation as a feather in your own cap--it gets you on other boards, gets your kids into the right schools, gets you the right social invitations, gets you into the right co-op. The Metropolitan Museum Board, for instance, is an example of being the highest mark of having "arrived".

They draw salaries, make an impression on letter heads, and grease the wheels of fund raisers and elite social events in NY and LA. The key is to make it possible for more exclusive networking to occur. Can you imagine Clinton's contacts?

It's a system of rackets like everything the upper 1% does. Works to increase and protect established power.

PS--the other outfit she works for, NYU, is ruining downtown NY with development.

[vets74]

30. No-no-no.

Getting senior oversight for an enterprise can prove invaluable.

A Board is not trying to push ahead individually, not doing corporate office politics.

That posting is an expression of envy, not understanding.

[Beacool]

10. Congratulations, Chelsea.

I like her. Despite being raised in the public eye since birth, she has turned out very well.

:-)

[liberal N proud]

15. Good for her, BUT

at 31?

When someone with a big name lands a position like this, I always wonder, really, did she do this on her own, or having the parents she has make a difference.

[Missy Vixen]

16. Her parents got her foot in the door

It's what she does when she gets there that counts. I don't see the Bush daughters being asked to do anything even remotely as prestigious.

I should also note that, according to the article, Chelsea's in a doctoral program at Oxford. I'll bet they let her in because her last name is Clinton, too, and not because of her own hard work.

:eyes:

[Stuckinthebush]

20. Most likely she is there because of her name

It looks nice on the letterhead. I'm sure she is a bright person - hell, just look who her parents are. Plus she had the best education money and access could buy.

[Freddie Stubbs]

22. Old enough to be a Congresswoman or Senator. Why not the BOD of a media company?

[alfredo]

24. She's smart, hard working, and well connected. Why not

hire her? Nobody questioned Al Gore's qualifications when he joined Apple's Board.

[Cal Carpenter]

25. And the ruling class marches on...

......

[Tom Ripley]

27. +1,000,000

[maxsolomon]

32. Unlike *, at least Bill broke into that class on their merits.

he had no connections, only his accomplishments.

[Cal Carpenter]

35. I'm not sure what your point is

or how it pertains to my comment.

:shrug:

[maxsolomon]

46. I was agreeing with you, but noting that President Clinton got into that class

on his own merits. One of the few. Now that he's in, the machinery of wealth anoints his daughter in advance of her accomplishments and ensures class perpetuaion.

[Auntie Bush]

28. I say good for her! Who would you rather see? Joe Blow? Or maybe Joe the Plumber?

Give credit where credit is due. The girl is intelligent, hard working and has great credentials as well as great connections. Who better? I wish she'd get into politics.

[EFerrari]

33. Right, because we should cheer for the matrons of Goldman Sachs over Joe Blow.

Because we're Democrats. What?

[Cal Carpenter]

37. I would much rather see a 'Joe Blow' on the board of directors

of all the corporations, or an actual Joe the Plumber - licensed and union, not the clown paraded around the stage of national politics a a couple years back, of course.

I would much rather see the teeming masses in control rather than the ruling class continue to get further entrenched in the ownership of our economy, our labor, our livelihoods.

[CopingBarker]

29. Being a Clinton is good work if you can get it

Having Bill and Hillary as parents, I have no doubt she's way smart. Having a treasure trove of connections is invaluable as well. Good for her, take what you can get.

She's pretty much the Prince Harry of the US

[maxsolomon]

31. See what you can accomplish if you pull yourself up by your bootstraps?

She's 31 and on a board of directors - hard work really pays off! And her only family connections are the former POTUS and a senator/secretary of state!

You indolent hippies could learn a thing or 2 from her.

O yea, :sarcasm:

[BeyondGeography]

36. A total embarrassment for all parties concerned

Including the country.

[unkachuck]

41. yes, but is she a Republican or a Democrat?

....I hate to say it, but these people have absolutely nothing in common with us....or at least me....

[jimbo3]

42. How great!

Did Ms. Clinton get bored helping her last employer, the Wall Street hedge fund crooks Avenue Capital, screw the working-class over? How much profit did Ms. Clinton and the rest of the crowd at Avenue Capital earn off of the misery of the working Americans in the last five years? Congrats, Chelsea, we all love ya!

[Rex]

44. Good that should make the trolls froth at the mouth.

Let the hypocrisy begin!

[truthisfreedom]

45. Children, please. She's stayed in school, she's gainfully employed in a hum-drum field.

She's contributing to society. She's not resting on her inherited laurels. She's busy.

I met her by accident once. I was in NYC in a bicycle cab and it was raining cats and dogs. We were about to cross an intersection near Gramercy Park and she was holding an umbrella and flagging down a cab. By luck, the bicycle driver pulled the cab right up to her face and I could see her perfectly clearly. I was about to exclaim "Chelsea!" when the bicyclist backed up the cab and said "are you the President's daughter?" In the pelting rain, she replied "Yes, and I'm trying to get a cab!" He immediately whisked us away so she could complete her mission.