Newspaper article St Louis Post-Dispatch (MO)

If Not Jim, Who? If Not Then, Now?

Newspaper article St Louis Post-Dispatch (MO)

If Not Jim, Who? If Not Then, Now?

Article excerpt

I RISE THIS MORNING in defense of a colleague, Jim Gallagher.

He's one of our financial writers. He is quiet, low-key and unassuming. He is methodical in his research, thorough and understated in his reporting.

Yet, he was subjected to a vicious verbal attack at the NationsBank shareholders' meeting Wednesday. One of the shareholders drew a round of applause by criticizing an unnamed reporter for "salacious, unfair, incomplete and inaccurate" coverage of the bank. This same shareholder apologized to NationsBank chief executive Hugh McColl for the "slop" that has been written about him. I made a quick check of our database to see who the shareholder was talking about. It had to be Gallagher. The only other person who has been writing about NationsBank and McColl is me. As regular readers know, I have been offering advice to McColl. It's been good advice, sound advice, and offered with the most generous of intentions. Sadly, McColl hasn't taken much of it. Oh, sure, he announced Wednesday that the bank would not be selling the collection of Missouri art that it inadvertently acquired when it bought Boatmen's Bank. But my advice went beyond just not selling the art. Because the art was gathered long ago by Missourians for Missourians, I had suggested that McColl donate the art to the St. Louis Art Museum. Not only did McColl reject that idea, he was downright insulting about it. He told the shareholders that he had no plans to donate the art to the museum but would, perhaps, consider it. "We need to get to know some people better - to know it won't end up in someone's basement," he said. That was, I thought, a real slap in the face at the people who run our Art Museum. Can't Andy Craig vouch for the folks at the Art Museum? Admittedly, I don't think too highly of Craig, but McColl must. Not only has he guaranteed Craig a salary of at least $3 million for what seems like a make-believe job, he gave him $10 million in stock and is going to pay him $1.5 million a year for life after he retires. And if Craig's wife outlives him, she's going to get $1 million a year for life. So he's got to like the guy. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.