(James) Baker leaves board of EDS

[UpInArms]

http://www.indystar.com/articles/0/100999-6300-031.html

just a blurb

Plano, Texas (AP) -- James A. Baker III, a Houston lawyer and former secretary of state, has resigned from the board of directors at Electronic Data Systems Corp. The company, which manages other companies' computer systems, tied the resignation Wednesday to Baker's appointment last week by President Bush to lead an effort to restructure Iraq's foreign debt.

here is the "press release" from EDS

http://biz.yahoo.com/prnews/031210/daw030_1.html

Since 1993, Baker has been a senior partner of the Houston-based law firm Baker Botts LLP and a senior counselor of The Carlyle Group, a merchant banking firm. Baker served as senior counselor to the President of the United States and White House Chief of Staff from 1992 to 1993, Secretary of State from 1989 to 1992, Treasury Secretary from 1985 to 1988, and White House Chief of Staff from 1981 to 1985.

"It has been an honor to serve on the EDS board, one of only two public company boards that I've served on since leaving government service in 1993," said Baker. "I feel fortunate to have been associated with some exceptionally talented individuals committed to EDS' success. Having participated in Mike Jordan's selection as CEO, I have great confidence in his leadership and that of the EDS management team in meeting the challenges of the future."

<snip>

EDS, the world's most experienced outsourcing services company, delivers superior returns to clients through its cost-effective, high-value services model. EDS' core portfolio comprises information-technology and business process outsourcing services, as well as information- technology transformation services. EDS' two complementary, subsidiary businesses are A.T. Kearney, one of the world's leading high-value management consultancies, and UGS PLM Solutions, a leader in product data management, collaboration and product design software. With 2002 revenue of $21.5 billion, EDS is ranked 80th on the Fortune 500. The company's stock is traded on the New York and London stock exchanges. Learn more at www.eds.com .

...more...

I am posting this because I believe something is going on with a "crew" at the BFEE - Poppy resigned from Carlyle and now Baker from EDS - these guys seem to be gathering away from things and I wonder what their new manifestation is going to be

[Tandalayo_Scheisskopf]

1. It's easy:

Carlyle is making money from the Iraq mess. EDS soon will be.

[realFedUp]

2. but has he broken up with his longtime mistress? n/t

[cosmicdot]

3. what will he do with his 25,799* shares of EDS stock??

(a) Includes shares of Common Stock which may be acquired on or before May 23, 2003, through the exercise of stock options as follows: Mr. Baker—11,335 shares; Mr. Enrico—10,132 shares; Mr. Gray—10,435 shares; Mr. Groves—20,092 shares; Mr. Hunt—25,973 shares; Mr. Kidder—25,080 shares; Dr. Rodin—16,353 shares; Mr. Heller—625,000 shares; Mr. Brown—2,160,750 shares; Mr. Ostermann—49,000 shares; Mr. Chiapparone—475,000 shares; Mr. Daley—430,000 shares; Mr. Frederick—228,500 shares; and all directors and executive officers as a group—1,583,700 shares.
(b) Includes restricted stock units granted to non-employee directors under the EDS Amended and Restated Incentive Plan as follows: Mr. Baker—3,460 shares; Mr. Hassan—125 shares; Dr. Rodin—344 shares; and all non-employee directors as a group—3,929 shares.
(c) Includes compensation deferrals treated as phantom stock under the Non-Employee Director Deferred Compensation Plan as follows: Mr. Baker—1,376 shares; Mr. Enrico—1,855 shares; Mr. Gray—3,660 shares; Mr. Groves—12,268 shares; Mr. Hunt—6,877 shares; Mr. Kidder—6,919 shares; Dr. Rodin—6,923 shares; and all non-employee directors as a group—39,878 shares.
http://www.sec.gov/Archives/edgar/data/1007456/000093066103001465/ddef14a.htm#tx832_17

James Baker has his fingers into so many pies ... I don't think any one bio includes all the Boards and such he gets paid for sitting on. It's difficult to tell just where Baker's conflicts of interests begins and ends. There's nothing "the Honorable" about him.

EDS has had a lot of Statement of changes in beneficial ownership of securities forms filed with the SEC in 2003.
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001007456&type=&dateb=&owner=include&start=80

Changing Minds, Winning Peace -
The Advisory Group on Public Diplomacy for the Arab and Muslim World chaired by Baker Institute Founding Director Edward P. Djerejian has released a report on a "new strategic direction for U.S. public diplomacy in the Arab and Muslim world."
http://www.rice.edu/projects/baker/

February 1, 1996— James A. Baker III, secretary of state under George Bush and secretary of the treasury under Ronald Reagan, has been elected a Trustee of Howard Hughes Medical Institute.
http://www.hhmi.org/news/jamesbaker.html

He's a trustee with Poppy Bush's Presidential Library Foundation
http://www.georgebushfoundation.org/bush/asp/OverView/Trustees.asp

He's on the US-Azerbaijan Chamber of Commerce's Honorary Council of Advisors
http://www.usacc.org/chamber/prof-officers.htm

[UpInArms]

4. one of my personal favorite exposes

of James Baker can be found here:

http://www.citizen.org/congress/campaign/special_interest/articles.cfm?ID=6539

excerpt:

The top three contributing companies were Enron, Southern Company and Reliant Energy. The remaining seven entities are the Edison Electric Institute (an industry association), Williams Companies, Duke Energy, Arizona Public Service, Dynegy, AES Corp. and Calpine.

Enron s CEO is Kenneth Lay, a long-time Bush family friend and an architect of Bush s policies on electricity deregulation, taxes and tort reform while Bush was Texas governor. Baker, who serves on Reliant Energy s board of directors, is also a long-time Bush family adviser who oversaw Bush s legal efforts in the Florida election controversy. Baker Botts, the Houston law firm founded by Baker s great-grandfather and where Baker is a partner, was one of the largest contributors to the Bush campaign, contributing $113,621 in 1999-2000.

Further, two Reliant Energy top brass are members of the Bush "Pioneers," an elite group of people who pledged to raise at least $100,000 each to help launch Bush's presidential campaign. Bush Pioneer Don D. Jordan was CEO and chairman of Reliant Energy until June 1999 and December 1999 respectively. Pioneer Steve Letbetter, Reliant Energy s current CEO, is a long-time top corporate officer of the company. The company and its employees gave $47,000 to Bush's gubernatorial campaigns in 1994 and 1998, and gave Bush and the RNC $289,000 for last year's election.

<snip>

Three of the Houston companies Enron, Reliant Energy and Dynegy reaped huge profits last year. According to company financial reports filed with the federal Securities and Exchange Commission, Enron posted a 42 percent increase in profits last year, while Reliant s profits rose 55 percent and Dynegy realized a whopping 210 percent profit. Profits for the other six companies ranged from 3 percent (Southern Company) to 240 percent (Calpine).