Yesterday, Las Vegas Sands’ CEO’s wife, Dr. Miriam Adelson, gave a further $5 million to Winning Our Future, a so-called “super PAC” set up to support Newt Gingrich’s presidential candidacy, on top of the $5 million already given by the CEO himself, Sheldon Adelson. These actions give us at GMI pause for thought. Such political action committees (PACs) can take in unlimited donations from corporations, unions and individuals. This much support makes the Adelsons among the largest known individual contributors to the current Republican primaries. But coming from individuals who have a controlling interest in a company – Las Vegas Sands – that is so beset with governance and social issues, the reputation of the super PAC and the campaign it is supporting might be impugned. For example, elections are typically something over which Mr. Adelson exercises considerable control, since his position as controlling shareholder and his membership on the board’s nominating committee means that he can nominate and elect the entire board.
via forbes.com
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