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Mayo Shattuck and (former) Wife #2

I first wrote about Mayo Shattuck ’76 and his wife Molly 8 years ago. Below is a very slightly edited version of that post. See the original comment thread for lots of fun discussion. There has been news about Molly recently, which I will cover on Monday.

——
Back in 2008, we were getting a lot of Google hits for “Mayo Shattuck wife”. Our (innocuous) page was #3. The reason was this New York Times article on the search for the next NFL commissioner. Shattuck ’76 was one of the five finalists (although the fix seems was in for the internal candidate).

If the owners of National Football League teams agree to hire Mayo A. Shattuck III as the league’s commissioner this week, he would have to resign his current job — and his wife, Molly, might have to quit hers, too.

Mr. Shattuck, 51, is the C.E.O. of the Constellation Energy Group, a Baltimore-based utility that is being acquired by the FPL Group. Mrs. Shattuck, 39, is a cheerleader for her husband’s favorite N.F.L. team, the Baltimore Ravens.

He would forfeit as much as $23 million of cash and stock in postmerger compensation, but could earn as much as $8 million a year as commissioner. She presumably earns a lot less for shaking her pompoms.

Indeed.

More on Shattuck here. The #1 ranked page for “Mayo Shattuck wife” reported:

D’oh! Hot Blonde Cheerleader for Baltimore Ravens is Actually 38-Year-Old Married Mother of Three – Molly Shattuck is not your average NFL cheerleader. Yes, she’s a perky blonde in great shape, but she also happens to be about 15 years older than most of the other woman on the squad, married and the mother of three. Molly Shattuck also happens to be the trophy–I mean second–wife of Mayo Shattuck, 50, the chief executive of Constellation Energy, a Baltimore-based Fortune 500 company. (Mayo reportedly still has strong corporate ties to the Ravens, helped sell the team to its present owners in the late 1990s while serving as the president of the investment bank Alex Brown.) By all accounts Molly earned a spot on the squad fair and square, based on her good looks and athletic ability (she comes from a long line of cheerleaders) not using her last name on the application form to get any kind of special treatment from the judges when she tried out last March. Now, in addition to running after her kids (all under the age of six), does Martha Stewart-style home crafts by the truckload, hosts elaborate fundraisers . . . and dances around is a crop top and short shorts for thousands of drooling Ravens fans each weekend.

“Trophy wife” is interesting terminology. Shattuck’s first wife, an Eph, is about 13 years older than his second. Very rich men, like Shattuck, seem to have a habit of marrying second wives that are much younger than their first. Wonder why? You can bet that our web searchers want to find pictures of wife #2 and not wife #1. Here is what they are looking for.

mollyravens2702.jpg

Creepiest picture ever on EphBlog or just an artifact from a culture with practices different from our own? You be the judge!

I wanted to write a much longer post on this topic for a long time but lack the eloquence and empathy for the task. See Professor Sam Crane on marriage as duty.

Duty is not a popular idea in contemporary America: it tends to be overwhelmed by notions of fun and self-interest and frolic in our youth-oriented, celebrity-driven popular culture. But, beyond the bright lights and front pages, duty is what defines the lives of most Americans. We discover ourselves in our committed actions toward others, most often family members but also neighbors and community groups and ideals larger than ourselves.

Sam has been married for more than 30 years. (Congratulations!) Shattuck did not make it that far in his first marriage and, I’d wager, is unlikely to make it that far in his second. (Does anyone know the divorce statistics on second marriages? On second marriages in which there is a 10+ year age difference? On such marriages for rich men who are under 50?)

Of course, this might not be Shattuck’s fault. Goodness knows that I have female acquaintances who have ended marriages for reasons that seemed (to me) shallow. Perhaps wife #1 insisted on a divorce despite his pleas to try to work things out. Perhaps he wanted to seek marriage counseling and she refused. In any event, he ended up with someone a decade younger and, probably, much less intelligent. (This might be unfair to wife #2 but her educational background does not scream out “Intellectual!”)

Apologies for the cruelty. There is a tendency for Ephs to value the things that got us into Williams, that mattered to our parents and professors: intellectual accomplishment and ambition. Who is to say that brains are more important than beauty, in a person or in a wife? No doubt my feminist friends regularly decry the habit of rich men to discard their wives for younger, better-looking women. Should we lament this example? Could you begrudge Mayo and Molly some happiness after reading this?

The coming football season will be the first in seven years that Shattuck isn’t expecting a baby or nursing one. Motherhood has been a struggle for her since her first pregnancy, when she went into pre-term labor at a Ravens game. Although she has borne three healthy children, she has miscarried five times. After months of bed rest and the birth of her youngest child, 2-year-old Lillian, she decided not to have more.

Shattuck needed something to take her mind off this unfamiliar sense of emptiness. She considered law school, or mountain climbing.

Instead, she found happiness in a 9-inch purple skirt.

We all find happiness in different places. Could any reader of EphBlog deny Molly hers? Perhaps. Consider Linda Hirshman’s observation that the choices some women make affect the options of others. And look what happens in the skybox.

In the Constellation Energy skybox last week, Mayo Shattuck managed to look both forlorn and delighted, switching from camcorder to digital camera to brand-new binoculars as he searched for a figure four stories down and half a football field away. He could just make out her face above a pair of churning pompoms.

“Just watch,” he said. “That smile will never come off.”

He was grinning pretty hard himself, flanked by executive buddies, some casting hopeful glances at their own wives.

Hmmm. And what glances did those wives cast in return? The choices that Molly Shattuck makes affect more than just her own life and those of her family. Her choices affect all of us. The wives of those executives are unlikely to be cheerleader material, just as their husbands would not stand a chance at linebacker. But Molly’s choice changes the framework in which those executives think about the meaning of “wife” or, perhaps more distressingly, “second wife.”

You can be sure that some of the cheerleaders on Molly’s squad would welcome the chance to live her life, to marry a man who might provide for them in the manner in which Mayo provides for her. Those cheerleaders, many of whom did not go to college and almost all of whom went to colleges unlike those attended by Mayo’s “executive buddies,” deserve a chance at the happiness they see in Molly. Perhaps she could introduce them to some of the men in the skybox.

All of which raises the question: Who introduced Molly and Mayo?

Molly Shattuck became her husband’s second wife in 1997, a few years after meeting him at Alex. Brown, where she worked in marketing.

Hmmm. This sentence calls for some deconstruction. Shattuck had been president of Alex Brown since 1991, when his son Mayo ’03 and daughter Kathleen ’05 were 10 and 8. Does a “few years” mean back to 1991, when Shattuck first moved to Baltimore? Consider this tidbit.

But Shattuck also learned that life in the limelight meant his private life would be fodder for the media and water cooler talk. A 1995 Baltimore Sun article reported his divorce from his first wife Jennifer after nearly 20 years of marriage and suggested that his busy schedule hampered his family life. Shattuck remarried in 1997 to Molly George Shattuck, who used to be director of the Pikesville Sylvan Learning Center.

“Busy schedule” huh? Well, something/someone was doing some hampering. Why do I think that the Sun article reported more than this? Note that this Business Journal puff-piece omits the fact that Molly used to work at Alex Brown. Call me suspicious, but I think that this omission tells us something about when Molly and Mayo met. Hint: It was before Mayo’s divorce in 1995. My speculation ends there, but perhaps a reader with access to Nexis could provide the 1995 Sun article.

Perhaps this explains how Molly and Mayo met.

Best Move: When she was still working as a marketing assistant, walking out of an office backwards while talking to a colleague – and almost literally sweeping stranger Mayo of his feet. “I met him by running into him,” she says. “I almost knocked the guy over.”

Marketing assistant meets company president. A classic love story.

Mayo seems to have no regrets.

“Suddenly”, says her 50-year-old husband, “I’m married to an NFL Cheerleader! How good is that?”

Not as good, I think, as being married to the woman you met at Williams, the women you promised to love and to cherish until death do you part. But there is a problem in the land of how-good-is-that.

She’s received national attention for being one of the oldest cheerleaders in the NFL, and now 38-year-old Ravens cheerleader Molly Shattuck is hanging up her pom-poms and saying goodbye to the job she made her professional career.

Looks like Mayo and his executive buddies will no longer be able to oogle Molly from the comfort of the skybox. Age, alas, catches up with all of us eventually. Fortunately, there are other, younger, cheerleaders, at least some of whom would like to meet a man like Mayo, would like to spend some time in his world. How good is that, indeed? If I were Molly, I would take care that no marketing assistants, much less cheerleaders, “run into” Mayo anytime soon.

In any event, I am not up to the task of a good post. Perhaps some of our readers are. What duties do Eph husbands and wives owe to each other? What duties do we all owe to spouse #1? What do you tell friends who are thinking of divorce?
—————

Those were my thoughts 8 years ago. Come back Monday for an update.

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Mayo Shattuck and Wife #2

We are getting a lot of Google hits for “Mayo Shattuck wife”. Our (innocuous) page is #3. The reason is this New York Times article on the search for the next NFL commissioner. Shattuck ’76 is one of the five finalists (although the fix seems to be in for the internal candidate).

If the owners of National Football League teams agree to hire Mayo A. Shattuck III as the league’s commissioner this week, he would have to resign his current job — and his wife, Molly, might have to quit hers, too.

Mr. Shattuck, 51, is the C.E.O. of the Constellation Energy Group, a Baltimore-based utility that is being acquired by the FPL Group. Mrs. Shattuck, 39, is a cheerleader for her husband’s favorite N.F.L. team, the Baltimore Ravens.

He would forfeit as much as $23 million of cash and stock in postmerger compensation, but could earn as much as $8 million a year as commissioner. She presumably earns a lot less for shaking her pompoms.

Indeed.

More on Shattuck here. The #1 ranked page for “Mayo Shattuck wife” reports:

D’oh! Hot Blonde Cheerleader for Baltimore Ravens is Actually 38-Year-Old Married Mother of Three – Molly Shattuck is not your average NFL cheerleader. Yes, she’s a perky blonde in great shape, but she also happens to be about 15 years older than most of the other woman on the squad, married and the mother of three. Molly Shattuck also happens to be the trophy–I mean second–wife of Mayo Shattuck, 50, the chief executive of Constellation Energy, a Baltimore-based Fortune 500 company. (Mayo reportedly still has strong corporate ties to the Ravens, helped sell the team to its present owners in the late 1990s while serving as the president of the investment bank Alex Brown.) By all accounts Molly earned a spot on the squad fair and square, based on her good looks and athletic ability (she comes from a long line of cheerleaders) not using her last name on the application form to get any kind of special treatment from the judges when she tried out last March. Now, in addition to running after her kids (all under the age of six), does Martha Stewart-style home crafts by the truckload, hosts elaborate fundraisers . . . and dances around is a crop top and short shorts for thousands of drooling Ravens fans each weekend.

“Trophy wife” is interesting terminology. Shattuck’s first wife, an Eph, is about 13 years older than his second. Very rich men, like Shattuck, seem to have a habit of marrying second wives that are much younger than their first. Wonder why? You can bet that our web searchers want to find pictures of wife #2 and not wife #1. Here is what they are looking for.

mollyravens2702.jpg

Creepiest picture ever on EphBlog or just an artifact from a culture with practices different from our own? You be the judge!

I have wanted to write a much longer post on this topic for a long time but lack the eloquence and empathy for the task. See Professor Sam Crane on marriage as duty.

Duty is not a popular idea in contemporary America: it tends to be overwhelmed by notions of fun and self-interest and frolic in our youth-oriented, celebrity-driven popular culture. But, beyond the bright lights and front pages, duty is what defines the lives of most Americans. We discover ourselves in our committed actions toward others, most often family members but also neighbors and community groups and ideals larger than ourselves.

Sam has been married 25 years. (Congratulations!) Shattuck did not make it that far in his first marriage and, I’d wager, is unlikely to make it that far in his second. (Does anyone know the divorce statistics on second marriages? On second marriages in which there is a 10+ year age difference? On such marriages for rich men who are under 50?)

Of course, this might not be Shattuck’s fault. Goodness knows that I have female acquaintences who have ended marriages for reasons that seemed (to me) shallow. Perhaps wife #1 insisted on a divorce despite his pleas to try to work things out. Perhaps he wanted to seek marriage counseling and she refused. In any event, he ended up with someone a decade younger and, probably, much less intelligent. (This might be unfair to wife #2 but her educational background does not scream out “Intellectual!”)

Apologies for the cruelty. There is a tendency for Ephs to value the things that got us into Williams, that mattered to our parents and professors: intellectual accomplishment and ambition. Who is to say that brains are more important than beauty, in a person or in a wife? No doubt my feminist friends regularly decry the habit of rich men to discard their wives for younger, better-looking women. Should we lament this example? Could you begrudge Mayo and Molly some happiness after reading this?

The coming football season will be the first in seven years that Shattuck isn’t expecting a baby or nursing one. Motherhood has been a struggle for her since her first pregnancy, when she went into pre-term labor at a Ravens game. Although she has borne three healthy children, she has miscarried five times. After months of bed rest and the birth of her youngest child, 2-year-old Lillian, she decided not to have more.

Shattuck needed something to take her mind off this unfamiliar sense of emptiness. She considered law school, or mountain climbing.

Instead, she found happiness in a 9-inch purple skirt.

We all find happiness in different places. Could any reader of EphBlog deny Molly hers? Perhaps. Consider Linda Hirshman’s observation that the choices some women make affect the options of others. And look what happens in the skybox.

In the Constellation Energy skybox last week, Mayo Shattuck managed to look both forlorn and delighted, switching from camcorder to digital camera to brand-new binoculars as he searched for a figure four stories down and half a football field away. He could just make out her face above a pair of churning pompoms.

“Just watch,” he said. “That smile will never come off.”

He was grinning pretty hard himself, flanked by executive buddies, some casting hopeful glances at their own wives.

Hmmm. And what glances did those wives cast in return? The choices that Molly Shattuck makes affect more than just her own life and those of her family. Her choices affect all of us. The wives of those executives are unlikely to be cheerleader material, just as their husbands would not stand a chance at linebacker. But Molly’s choice changes the framework in which those executives think about the meaning of “wife” or, perhaps more distressingly, “second wife.”

You can be sure that some of the cheerleaders on Molly’s squad would welcome the chance to live her life, to marry a man who might provide for them in the manner in which Mayo provides for her. Those cheerleaders, many of whom did not go to college and almost all of whom went to colleges unlike those attended by Mayo’s “executive buddies,” deserve a chance at the happiness they see in Molly. Perhaps she could introduce them to some of the men in the skybox.

All of which raises the question: Who introduced Molly and Mayo?

Molly Shattuck became her husband’s second wife in 1997, a few years after meeting him at Alex. Brown, where she worked in marketing.

Hmmm. This sentence calls for some deconstruction. Shattuck had been president of Alex Brown since 1991, when his son Mayo ’03 and daughter Kathleen ’05 were 10 and 8. Does a “few years” mean back to 1991, when Shattuck first moved to Baltimore? Consider this tidbit.

But Shattuck also learned that life in the limelight meant his private life would be fodder for the media and water cooler talk. A 1995 Baltimore Sun article reported his divorce from his first wife Jennifer after nearly 20 years of marriage and suggested that his busy schedule hampered his family life. Shattuck remarried in 1997 to Molly George Shattuck, who used to be director of the Pikesville Sylvan Learning Center.

“Busy schedule” huh? Well, something/someone was doing some hampering. Why do I think that the Sun article reported more than this? Note that this Business Journal puff-piece omits the fact that Molly used to work at Alex Brown. Call me suspicious, but I think that this omission tells us something about when Molly and Mayo met. Hint: It was before Mayo’s divorce in 1995. My speculation ends there, but perhaps a reader with access to Nexis could provide the 1995 Sun article.

Perhaps this explains how Molly and Mayo met.

Best Move: When she was still working as a marketing assistant, walking out of an office backwards while talking to a colleague – and almost literally sweeping stranger Mayo of his feet. “I met him by running into him,” she says. “I almost knocked the guy over.”

Marketing assistant meets company president. A classic love story.

Mayo seems to have no regrets.

“Suddenly”, says her 50-year-old husband, “I’m married to an NFL Cheerleader! How good is that?”

Not as good, I think, as being married to the woman you met at Williams, the women you promised to love and to cherish until death do you part. But there is a problem in the land of how-good-is-that.

She’s received national attention for being one of the oldest cheerleaders in the NFL, and now 38-year-old Ravens cheerleader Molly Shattuck is hanging up her pom-poms and saying goodbye to the job she made her professional career.

Looks like Mayo and his executive buddies will no longer be able to oogle Molly from the comfort of the skybox. Age, alas, catches up with all of us eventually. Fortunately, there are other, younger, cheerleaders, at least some of whom would like to meet a man like Mayo, would like to spend some time in his world. How good is that, indeed? If I were Molly, I would take care that no marketing assistants, much less cheerleaders, “run into” Mayo anytime soon.

In any event, I am not up to the task of a good post. Perhaps some of our readers are. What duties do Eph husbands and wives owe to each other? What duties do we all owe to spouse #1? What do you tell friends who are thinking of divorce?

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Mayo Shattuck

This enthusiastic article on Mayo Shattuck echoes a number of Ephblog running themes: the wisdom of choosing Williams over Harvard and the importance of family. I note that Mayo’s wife (a Baltimore Ravens cheerleader at age 37) was featured in a Sports Illustrated column a few months back. I am sure the final line of this article did not go unnoticed by the alumni fund powers-that-be.

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Williams Trustee Sentenced to Jail

When was the last time a Williams trustee was sentenced to jail? Two weeks ago!

The Oslo City Court has sentenced a wealthy Norwegian investor and his wife to five months in prison each, in a case that has highlighted abuse of Norway’s au pair program. It’s supposed to serve as a cultural exchange for young people from abroad but the couple, aided by two neighbours, was found guilty of fraudulently and illegally using two young women from the Philippines as au pairs at the same time, and putting them to work as their low-paid household help.

The couple are Ragnor Horn ’85 and Joey Shaista Horn ’87. Does the name “Horn” sound familiar? It should! Horn Hall, the College’s newest residential building is named after Ragnor and Joey, in thanks for their $10 million donation. Joey has been a Williams trustee since 2009. The Horns have been generous donors for more than a decade. Consider this snippet from 2008:

horn2

Back to the article:

The au pairs’ testimony was almost entirely at odds with the Horns’, according to media reports. The Horns claimed they considered the women members of their family and had tried to help them. They admitted to having surveillance cameras in their home but claimed they were not focused on the women while they worked. Mrs Horn, who was represented in court by one of Norway’s most famous defense attorneys, John Christian Elden, also confirmed the required use of face masks, but claimed that “was common in Asia” and was only required in the kitchen by one of the women who “coughed so much.”

Evidence prosecutors referred to in court, however, included a chatting exchange Mrs Horn had with a friend that revealed her referring to her household help in derogatory terms and accusing her of coughing on the food or while in the bathroom. Mrs Horn told her friend the au pair would have to use both a face mask and disposable gloves while in the home or with Horn’s children.

The conversation used as evidence in court also recorded Mrs Horn telling her friend that she had threatened to send the au pair back to her “straw mats in Manila.” Mrs Horn defended herself by saying it had been a “private conversation” with an old friend and that she actually “loved straw mats” and had one in her own home that she used for yoga.

1) Who among us does not love straw mats?

2) WA, who tipped us off about this case, wants me to spend a week going through the details. Should I? My last series on the lifestyles of the rich and the Eph involved Mayo Shattuck ’76 and his cheerleader wife.

3) When was the last time a Williams trustee was sentenced to jail? I can’t come up with a single example. Help us Eph historians!

4) The Horns have three children, including two at Williams. Spare a thought for what they must be going through.

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Sexual Contact with Minor

All great stories are tragedies, and the sad tale of Mayo Shattuck ’76, Molly Shattuck (pictured below), and their three children is no different.

molly-shattuck-435

Start by reading our coverage from 8 years ago. Then read the news from last month.

Molly Shattuck, the former Ravens cheerleader who was married to onetime Constellation Energy CEO Mayo A. Shattuck III, was arrested Wednesday and charged with third-degree rape and unlawful sexual contact with a 15-year-old boy, Delaware State Police said.

Read the full story for all the sad, sordid details. I don’t expect to write many follow up posts. Life is too short. But I can resist highlighting some of my forecasts from 8 years ago.

In any event, he ended up with someone a decade younger and, probably, much less intelligent. (This might be unfair to wife #2 [Molly] but her educational background does not scream out “Intellectual!”)

Lots of people took issue with this claim. Any doubters now?

Mayo seems to have no regrets.

“Suddenly”, says her 50-year-old husband, “I’m married to an NFL Cheerleader! How good is that?”

Not as good, I think, as being married to the woman you met at Williams, the women you promised to love and to cherish until death do you part.

Does Mayo wish he had stayed with wife #1? I don’t know. With each passing year, I appreciate more and more my marriage to an Eph woman. Most Williams men (with Williams wive) I know feel the same.

Age, alas, catches up with all of us eventually. Fortunately, there are other, younger, cheerleaders, at least some of whom would like to meet a man like Mayo, would like to spend some time in his world. How good is that, indeed? If I were Molly, I would take care that no marketing assistants, much less cheerleaders, “run into” Mayo anytime soon.

If you believe the comment section in People Magazine, Mayo has already moved on.

Shattuck did not make it that far in his first marriage and, I’d wager, is unlikely to make it that far in his second. (Does anyone know the divorce statistics on second marriages? On second marriages in which there is a 10+ year age difference? On such marriages for rich men who are under 50?)

Mayo and Molly divorced last month. Always trust contact from EphBlog.

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Hold the Mayo

A 2012 column from the Boston Globe:

His name is Mayo Shattuck III, and when the authoritative book about the absurd income disparities that have come to dominate America in the early 2000s is written, his smiling face will almost certainly be on the cover.

Raised in Cohasset and Hingham, educated at Williams, he is now the chief executive of the Baltimore-based Constellation Energy Group, which happens to own four power generating plants around Boston, three in Everett and another in Weymouth.

But enough of the pleasantries, because here’s what Mayo Shattuck III was paid in 2010: $15.7 million. That’s $301,000 a week, or almost exactly twice poor Tom May’s package. So the Constellation Energy Group must be an unbelievably well-run company, right? Well, no. Actually, the company lost $1 billion one recent year, barely avoided bankruptcy, aborted one merger already, and saw its stock plunge from over $100 a share to the low $20s, all with Mayo Shattuck III at the helm.

The Maryland governor has complained about Mayo Shattuck III’s pay, as has the editorial page of the Baltimore Sun, members of the Maryland Legislature, and some of the largest Constellation shareholders, but to no avail. Mayo Shattuck III also chairs the company’s board, the same board that sets his pay, whose members make a minimum of $195,000 a year in cash and stock for nominal work.

Even the company that Constellation is currently merging with, Chicago-based Exelon Corp., has sent hints that it doesn’t want any part of him, but has agreed to make him executive chairman just to get the deal done.

So what is Mayo Shattuck III good at? Golf. And at that, he’s great, sporting a handicap so low that a leading golf magazine ranked him as one of the 10 best golfing CEOs in the nation. For that honor, his board probably gave him another raise.

The Alumni Office will want to invite Mayo out for a round of golf at Taconic as it ramps up planning for the next capital campaign.

Want to do something about executive pay at large (public) companies? Easy! Do this:

The SEC should pass a regulation requiring that all publicly traded companies allow their shareholders to vote on the following (binding) resolution each year.

“The total compensation of both the CEO and the CFO shall not exceed $1 million in the coming fiscal year.”

Those who dislike government meddling in business have little to complain of here since the government isn’t telling any business how to set salaries. The government is just requiring that business owners be allowed to vote on a specific option.

What would happen of such a regulation were in place? Senior executives would complain long and loudly. Many large shareholders — especially pension funds — would gladly vote for lower compensation. Many mutual funds would feel pressured to do so. My guess is that the resolution would pass at many companies.

There would then be significant (downward) pressure on executive salaries across the board. If you’re the CEO/CFO of a big company, there are very few employees who you think should be paid more than you are. Of course, this won’t allow you to pay people (much) less than they could get elsewhere, but the number of people for whose services the “market” is willing to pay more than $1 million per year is small. The very best baseball players, rock stars, entrepreneurs and Wall Street traders would still make millions, but only because any attempt to lower their pay would cause them to go elsewhere with their talents.

Some would say that this plan won’t work since the companies whose shareholders agree to pay more than $1 million per year (whether they be public or private companies) will snap up all the “best” executive talent. Maybe. But, our ability to measure executive talent is so limited that it would be hard for any company to easily identify a CEO candidate who is significantly better than many other candidates for the job.

There is a sense in which such a scheme, if implemented, would amount to implicit collusion among the employers of senior executives. Perhaps. But collusion in the service of class warfare is no vice.

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Doubly Appalling

How did the Williams community respond to the cover of the Student Telephone Directory? An op-ed piece in the Record.

Sexism flourishes

Telephone directory cover “exploitive and appalling”

The cover of this year’s student telephone directory must offend and appall anyone who considers its message. The picture which appears on the cover portrays three Williams men, apparently enjoying themselves tremendously on some sunny shore, posing for the camera with three objects in their possession: a telephone, a beach toy, and a woman. The pose of the woman, who wears a sweatshirt branded with a bold “Williams” and has her backed turned toward the camera, implies that her body and nothing else is what matters about her. We can’t even see her face to know anything about the person inhabiting the body.

That the picture exploits this woman by displaying her as an object for men is appalling enough, but that it should have found its way onto the cover of the phone directory is doubling appalling. In all likelihood, the picture was taken and chosen in good fun. That being the case cannot excuse that such “fun” is not funny, but instead perpetuates exploitive attitudes and actions toward women. It seems to imply that the college administration condones this attitude toward women, which we do not believe actually to be the case. It seem instead that soem student has misused the trust of the administration. Still, one can’t help but wonder: How could this have happened?

That it did happen shows us that, despite the admission of women to Williams, sexism flourishes here as well as it does elsewhere. At least someone at this college must still conceive of Williams as primarily a male institution in order to show such disregard for the worth and qualities of their fellow students who are women. Women are not here at Williams or anywhere else for men, but for themselves and in their own right. To have to look every day at something, our telephone directory, which so blatantly challenges that right, is unjust and unnecessary.

Antje Lewis ’87, Mike Best ’86, Wendy Brown, Lynda Bundtzen, Suzanne Burg ’87, Timothy Cook, Dave Fairris, Elaine Freedman ’87, Kathy Haas ’86, Martha Hughes ’86, Bruce Kendall ’86, Lila Abu-Lughod, Sarah McFarland, Melissa Perkins ’86, Cheryl Salem ’87, Chris Sayler ’86, Sheila Spear, Bob Volz, Mark White ’84

1) What set of facts about the students who took and selected this photo would most validate the claims made in this letter? What set of facts would most challenge those claims? What do you guess are the facts?

2) Among the non-student authors, David Fairris is now at UC Riverside; Timothy Cook passed away three years ago after moving to LSU; Wendy Brown is at Berkeley; Lila Abu-Lughod is at Columbia; Lynda Bundtzen, Bob Volz and Sarah McFarland are still at Williams.

3) Although I differ (!) in my ideological priors with these authors, I am also concerned with anything that “perpetuates exploitive attitudes and actions toward women.” I have two daughters, after all. Alas, I seem to be unable to make this point at EphBlog, at least when it comes to criticizing the behavior of male Ephs. Recall this newspaper description of the interaction between Mayo Shattuck ’76 and his wife Molly, a cheerleader (at that time) with the Baltimore Ravens.

In the Constellation Energy skybox last week, Mayo Shattuck managed to look both forlorn and delighted, switching from camcorder to digital camera to brand-new binoculars as he searched for a figure four stories down and half a football field away. He could just make out her face above a pair of churning pompoms.

“Just watch,” he said. “That smile will never come off.”

He was grinning pretty hard himself, flanked by executive buddies, some casting hopeful glances at their own wives.

My opinion is the same now as it was three years ago.

Hmmm. And what glances did those wives cast in return? The choices that Molly Shattuck makes affect more than just her own life and those of her family. Her choices affect all of us. The wives of those executives are unlikely to be cheerleader material, just as their husbands would not stand a chance at linebacker. But Molly’s choice changes the framework in which those executives think about the meaning of “wife” or, perhaps more distressingly, “second wife.”

You can be sure that some of the cheerleaders on Molly’s squad would welcome the chance to live her life, to marry a man who might provide for them in the manner in which Mayo provides for her. Those cheerleaders, many of whom did not go to college and almost all of whom went to colleges unlike those attended by Mayo’s “executive buddies,” deserve a chance at the happiness they see in Molly. Perhaps she could introduce them to some of the men in the skybox.

Placing a photo of an attractive, scantily clad woman on the cover of the student telephone directory affects, not just the students in the photo, not just the (male) students who look at that photo everyday, but the other female students in the Williams community. Mayo Shattuck, by inviting his executive buddies to the sky box to ogle his cheerleader wife affects, not just his wife and his buddies, but other women who are not a party to the event.

I wonder what Professor Lynda Bundtzen would say about Mayo Shattuck?

UPDATE:

1) Ken/Derek/Ronit and others are very critical of the authors of the op-ed piece, using terms like “simplistic and reductionist,” “ideological,” “ignorance compounded,” and “reads like a Mad Cow parody.” Why does it always fall to me to defend the left-wing members of the Williams community? ;-)

More seriously, recall our discussion about posting the glamor photo of the Princess of York. I understand why someone would say that neither photo is appropriate, that the student in charge of the phone directory should not have used that photo and that I should not have used the glamor shot. I also understand why someone (like me) would argue that both photos are fine. I can’t understand why someone would argue that this photo is fine but that posting the Tattler cover photo was somehow beyond the pale.

2) During the Princess Eugenie discussion, Ronit wrote:

It’s not a question of whether or not David had a “right” to post something, it is more about whether or not the actual content being posted is the sort of thing that we, as a community, would like to see on EphBlog. What I’m proposing is that a voting tool would allow for some measure of editorial “democracy”, such that our readers would feel like their preferences are an important part of what shapes this site.

Exactly right. This post currently has a -45 rating, which is close to a record. Would the folks who voted No have voted Yes if I had not brought up Mayo Shattuck? Are there really no/few readers who like these sorts of posts? If no one likes them, I will devote my energies elsewhere, and no hard feelings either way. Just curious.

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Secret Millionaire

Molly Shattuck, wife of Mayo Shattuck ’76, starred in an episode of Secret Millionaire last night. (Hat tip to this reader.)

Each week, one of the wealthiest Americans, worth millions of dollars, will go undercover into one of the most impoverished and dangerous towns in America. Their job is to spend one week canvassing the town – meeting as many people as possible – some of whom will touch the millionaire with their dedication to helping others while others will have incredible stories of trying to overcome tremendous odds. On the final day, the Secret Millionaire meets with the chosen recipients and reveals his/her true identity and intentions – to give them a sum of money that is going to change their lives forever.

Noblesse oblige or poverty exploitation? The episode is available here. Judge for yourself. Alas, I don’t see an easy way of embedding it or saving a copy. I have watched 20 minutes so far. It is surprisingly good.

More detail here.

shattuckShattuck is married to Mayo Shattuck III, and is the mother of five children. Shattuck is also a civic leader in Baltimore, MD, where her many charitable efforts have focused on raising awareness and funding for the health, education and artistic development of disadvantaged inner-city youth. Shattuck previously served as a Corporate Center Director for Sylvan Learning Systems and as a Marketing Associate for Alex. Brown & Sons, Inc. She recently became nationally known when, at the age of 38, she became the oldest cheerleader in NFL history, cheering for the Baltimore Ravens.

If Molly Shattuck is a “civic leader” then I am the Queen of Persia.

Challenged with living on minimum wage, the millionaires will immerse themselves in situations beyond their comprehension. They work with with community members and befriend those in need. Then they decide who of their new-found friends, neighbors or co-workers should ultimately receive their extraordinary gifts, at least $100,000 of their own money. The millionaires include an internet mogul who last year at age 25 sold his company for $300 million, a co-owner of a multi-million dollar magazine-publishing business, a successful Southern California lawyer, an owner of a restaurant empire, a Baltimore socialite & former NFL cheerleader as well as a software inventor worth $50 million.

Socialite is a fair description. Not that there is anything wrong with that!

Did anyone watch the show?

UPDATE: Watched the whole thing. Highly recommended. Molly’s closing quote is, “There’s a lot of good in people, if you just give them a chance to show it.” Words to live by, for all of us.

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Wholesale Energy Trading Business

According to my Bloomberg, Mayo Shattuck III ’76 was paid $13.9 million by Constellation Energy Group (CEG) in 2007. Given all that money, and the credit crunch that started last summer, one would hope that Shattuck had gotten CEG’s finances into line. Alas, maybe not.

Baltimore Gas & Electric Co. parent company Constellation Energy Group Inc. has lost more than half of its market value this week, on concerns about the company’s financial health.

Its stock continued to fall Wednesday after facing a possible credit ratings downgrade.

Constellation issued a statement saying its credit lines remain intact, and it confirmed it has hired Morgan Stanley and UBS to evaluate strategic alternatives. It is in active discussions with potential strategic partners, Constellation said in a statement.

Constellation also repeated its limited credit exposure to Wall Street financial firms.

Standard & Poor’s said Wednesday it was reviewing Constellation’s credit ratings for possible downgrade, citing what it called “an acute crisis of confidence.”

Facing what Standard & Poor’s called a broad loss of market confidence, it says Constellation’s strategic alternatives include the outright sale of the company, “which management has informed us is at an advanced stage.”

Constellation is seeking a partner for its wholesale energy trading business, which now accounts for the majority of the company’s $21 billion in annual revenue. Concerns that turmoil at Wall Street’s financial firms may make finding an investor more difficult have triggered this week’s selloff of Constellation shares.

Constellation canceled its $12.4 billion acquisition to FPL Group, Florida Power & Light’s parent company, in 2006 after failing to satisfy state regulators.

I haven’t run the numbers, but the failure of that deal probably cost Shattuck tens of millions of dollars. There is a great story to be written on Shattuck’s career at CEG. He moved from an investment bank to a utility company despite no meaningful experience in the industry, other than having served in the CEG board for several years. At the time he was hired, feelings were good.

“We have selected the absolute best person for the job of leading Constellation Energy Group to success in the energy marketplace,” said Christian H. Poindexter, Chairman and Chief Executive Officer of Constellation Energy Group. “When Mayo Shattuck decided a few weeks ago to leave his position as Chairman and CEO of Deutsche Banc Alex. Brown, I knew immediately that we had to seize this unique opportunity to recruit a person of his quality and stature. Mayo Shattuck has a proven record of success in the world of capital markets, trading, investment banking, and corporate finance – – all fields that are vital to the success of our company.

If CEG does blow up, you can be certain that the problem was not, you know, actually delivering gas to Baltimore households. Instead, the fundamental flaw will have been to try to make money trading.

Does that mean that Shattuck in not intelligent? No! Over the last two years, he has cut the number of shares that he owns in CEG by more than one half. And selling 50,000 shares last February at a price of $93 (current price $21.90) is looking especially smart.

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Mayo Online

Who would bother to make these three (separate?) websites about Mayo Shattuck ’76? They don’t seem like vanity sites, but neither are they critical.

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Eph Viking: Andreas Halvorsen ’86

You would think that someone as Eph-focussed and finance-savvy as me would know about most of the most successful Ephs on Wall Street. You would be wrong! A commentator mentioned that Andreas Halvorsen of Viking Global Investors (love the longboat symbol) is an Eph. Indeed, he is a member of the class of 1986 and the Williams ski team. Comments:

1) Background from 2001.

Fronting the offices of Viking Global Investors high above Park Avenue is a solid, 12-foot-wide wall of clear glass. Still, no matter how you position yourself, the inner workings of the hedge fund are invisible. No chance sightings of Andreas Halvorsen, 39, the chisel-featured Norwegian chief investment officer, or one of the other two partners, David Ott, 37, or Brian Olson, 35–the three former Tiger cubs who run the fund.

There’s considerable buzz within the industry that Viking, cloaked in secrecy, is one of the hottest funds around. But sources say the most auspicious fact about the $2 billion fund is that it was up 89% last year after fees. That’s killer performance in light of 2000’s dismal stock market. Viking, a long-short equity fund that primarily invests in the U.S. and Europe, employs a ”bottom-up” fundamental stock-picking strategy. It focuses on financials, telecommunications, media, technology, and consumer stocks. The fund’s nine analysts meet with some 1,000 companies a year. ”Their core strength is that they’re fantastic business analysts. They can really determine good companies from bad,” says an investor.

Viking’s principals learned their stock-picking skills from Tiger Management Corp., where Halvorsen worked for seven years and was director of global equities his last three. Halvorsen, Ott, and Olson all left Tiger in early 1999, more than a year before the fund imploded. ”They had pretty good timing,” says a source. Each considered starting his own hedge fund until Halvorsen contacted them and suggested they try a team approach. Since Viking was launched in October, 1999, they have recruited 15 of their former Tiger colleagues. Their investors include ”very sophisticated businesspeople who can provide insight in the areas in which they invest,” says an insider.

Making 89% in 2000 is, uh, pretty good. I should spend more time working on my portfolio and less time blogging. You can be sure that the assets flowed in after a year like that.

2) For 2004, Bloomberg reported that

One fund that trailed competitors was Andreas Halvorsen’s Viking Global Equities Fund, which climbed 7.6 percent last year. Halvorsen, who, like Ainslie, came from Julian Robertson’s Tiger Management, founded Greenwich, Connecticut-based Viking Global Investors in 1999 and the firm now manages $3.5 billion. Halvorsen has averaged annual returns of about 25 percent since then.

So, Vikings’ assets did increase from 2000 to 2004 but not by as much as one would have thought. If the fund was up 89% in 2000 and is only up an annualized 25% for the five years from 2000 through 2004, then years 2001 — 2004 were not that good. Exercise for the reader: What were Viking’s returns for those four years and how do they compare to the S&P. (It’s not clear if Viking uses, or should use, the S&P 500 as a benchmark.)

2) After that rough patch, Halvorsen did well for his investors and himself. (If we have any Viking investors among our readers, please give us the details.) In 2006, Halvorsen’s estimated income around $75-100 million.

3) How did Halvorsen do in 2007? Not bad, just #20 on the Trader Monthly 100.

Andreas Halvorsen
City: Greenwich, Connecticut
Firm: Viking Global Investors
Age: 47
Estimated Income: $350–$400 million

Right now, it seems, having once traded at Tiger Management is a license to pillage. The quick rundown on Halvorsen’s Viking quest in 2007: victory! Featuring returns of 40.6 percent in the Viking Global Equities III Ltd. — which was short financials and long India — as well as a pile of 2-and-20 assets now north of $10 billion and a newly launched fund, in 2007 VGI stood for very good indeed.

Love the Entourage reference! Trader Monthly readily admits that they are only estimating annual incomes, but there is no doubt that Halvorsen is one of the richest self-made Ephs of his generation. If he hasn’t already gotten an invitation to be on the Board of Trustees at Williams, he will get one soon. He already serves as an adviser (pdf) to the endowment.

4) Alas, wealth brings problems of its own.

Hedge funds have been producing nasty legal battles for years, and a couple of recent spats seem to be coming to a head. One involves Viking Global, whose lead partners, Andreas Halvorsen and David Ott, are facing a claim from an ex-partner, Brian Olson, that he was wrongfully discharged from the firm three years ago. Halvorsen and Ott say he left on his own.

The trio formed Viking in 1999 after leaving Tiger. Assets are now $10 billion, and majority owner Halvorsen is one of the richest traders in the world. Which is why it made sense for him to try to settle, right? Well, Olson wouldn’t budge, demanding his fair share and laying claim to his stake. He has since filed a new complaint that names all of his former shipmates. A trial could happen later this year, according to a source in the Delaware chancery court clerk’s office.

Perhaps one of our lawyer Eph friends could provide links to the documents for this case.

5) Is it just me or do lots of the richest self-made Ephs of recent years seem to be athletes who played preppy sports at Williams? Besides Halvorsen, we also have Bo Peabody ’94 of Village Ventures (skiing), Chase Coleman ’97 of Tiger Global (lacrosse), Mayo Shattuck ’76 (tennis) and Richard Georgi ’87 of Grove Investors (skiing). I think that several of these Ephs were captains of their teams.

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Williams and the Bushes, continued …

There’s a new connection between Williams and the Bush family, and I don’t know how David missed this one.  Jenna’s fiancee, Henry Hager, will be working for Constellation Energy, which is helmed by none other than oft-discussed-on-this-site Mayo Shattuck.  I will leave it to David to figure out a way to tie this news to a photo of Mayo’s wife in a bikini. 

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Indulgences?

Some call it “The Big Razor,” a play on its corporate namesake. To others, it’s simply “Foxborough,” as in the Massachusetts town home to it and its dumpy predecessor. A few unbalanced types think of Gillette Stadium, the dwelling of the National Football League’s New England Patriots, as an oppressive Albert Speer knockoff housing the cheatingest gridiron squad on dry land. Most of us are bitter Bills fans.

But more to the point, did you know the stadium was built with an on-site wastewater treatment facility? And even more to the point, were you aware that the Patriots recently agreed to purchase 2,400 megawatt hours of offsets to match their gameday electricity consumption? Well, that’s kind of the point. And, obviously, there are Eph footprints all over this bad boy, starting with Jonathan Kraft ’86.

But today, the Kraft Group will announce that Midwestern wind will fuel the Gillette Stadium lighthouse, the 612 blazing light bulbs shining down on the field, the scoreboards, and more than 40 concession stands that are juiced with enough power during each game to run 2,269 households for a day. …

“Obviously, energy is vital to our game-day operations and we have made substantial efforts to enhance our energy efficiency,” the Patriots’ president, Jonathan Kraft, said in a statement.

“This not only reduces our carbon footprint, but could help build awareness that other organizations have an opportunity to make a similar choice for the environment.”

The renewable energy credits will be purchased from Constellation NewEnergy, a subsidiary of the Mayo Shattuck ’76-helmed Constellation Energy, as part of an extant power agreement between the Pats and their energy supplier.

There are, naturally, a few doubters.

The idea of buying certificates to offset pollution has its critics, who say some companies may “greenwash” without making substantive changes.

“People have made the comparison to Catholic indulgences – we’ll continue to sin, but look, we’ll send this to the Church,” said David Chernushenko, author of the book “Greening our Games.”

Previous EphBlog discussion on this topic here.

The Krafts have obviously been into the green-conscious thing for a while, so as much as I’d like to claim they’re simply looking for a much-needed PR boost here, that doesn’t really hold water. But the good press doesn’t hurt, huh? And, indeed, it’s part of the stated rationale for the transaction.

“We have been incredibly proud to serve the New England Patriots since 2003, and now we are pleased to support their sustainable environmental practices by securing clean, renewable energy sources to match the electricity usage for home games throughout the season,” said Michael Kagan, president, Constellation NewEnergy. “Given the national prominence of the Patriots, this significant action sets a terrific example for other companies and businesses preparing to introduce renewable energy into their portfolio as part of an overall strategy to address climate change.”

Now, I tend to think Kagan has a point here. The Pats’ appeal (and, perhaps, their influence) cuts across all sorts of social and economic lines, and as a a result, their green example might just carry more weight with the average consumer than would such a move from the average business. Depending on how much overlap one believes there is between the pro-wind power crowd and the pro-Randy Moss contingent, the Krafts are quite possibly helping to expand the roster of environmentally conscious citizens.

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Life Skills

This WSO thread between fans and critics of College GameDay participation got a little too heated for my tastes. Profanity is rarely persuasive. Read the whole thing if you have a lot of time on your hands.

There are so many important ideas and life skills to be gained from playing sports. Athletics can bring about just as much passion within a person as any piece of art. You gain a sense of competitiveness that is extremely necessary in many careers you might pursue later in life, and people who have never played sports just don’t have that drive to win or succeed. Also, people that are strong in athletics AND academics (most athletes at Williams) are the ones who go on to become CEO’s or political leaders, not the math genius who has never stepped on a playing field.

Great topic for a senior thesis! Is there are correlation, among Ephs, between athletic participation/success and further accomplishments in life. (I think that most of the below is true, but corrections are always welcome.)

1) The two Ephs who have probably made the most money in the last 20 years are both athletes: Bo Peabody ’94 (skiing) and Chase Coleman ’97 (lacrosse). Chase has probably made more money just this year then all the other graduates of Williams put together. Chase was captain of the lacrosse team.

2) In the last few years, three Ephs have been S&P 500 CEOs: Clarence Otis ’77, Mayo Shattuck ’76 (squash, captain of the tennis team) and Henry Silverman ’61. The alumni directory does not list any sports for Otis and Silverman, which probably means that they did not play. Can any readers confirm?

3) The most successful female Eph in business is trustee Laurie Thomsen ’79 (tennis and soccer).

4) Among political leaders, we have former Congressman Ed Case ’75 (rugby), Congressman and Senate-candidate Mark Udall ’72 (golf), former Governor Arne Carlson ’57 (football and wrestling).

Clearly, this is not enough data to draw firm conclusions. My sense is that, among male Ephs who are very successful in business and politics, athletes are more common than they are in the Williams population. But I think that the reason for this has nothing to do with athletics per se. Both success in business/politics and success in athletics are helped by common factors: competitiveness, ambition, work-ethic and so on. These factors explain the correlation, not anything that athletic participation itself produces.

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Nothing But The Best

Brief mention of Mayo Shattuck ’76 in an article about executive perks.

Some say the age of company-paid golf memberships, vacations and financial advice is waning for corporate bigwigs. “You’re actually seeing CEOs coming along saying, ‘Take my country club – please!’ ” says Steven Hall, a New York-based executive-compensation consultant. If so, many local companies haven’t heard.

Newly required disclosures reveal a panorama of executive pay and fringes just as “the Hubble Telescope … suddenly provided astronomers with clear views of distant galaxies,” enthuses USA Today.

At Constellation Energy, owner of Baltimore Gas and Electric and No. 119 on the Fortune list, perquisites are not de minimis. CEO Mayo Shattuck got fringes worth $214,344 last year. I know you’re wondering, so I asked: Shattuck doesn’t get free electricity, according to spokesman Lawrence McDonnell.

Constellation owns a part-interest in an airplane, but Shattuck doesn’t use it for personal trips, says the proxy statement. The company also provides a car allowance and a home security system, and pays for his wife, Molly, to accompany him on business trips. But most Shattuck fringes (worth $133,010) involved travel to and from non-Constellation business meetings, McDonnell said.

I wonder if Shattuck’s use of the Constellation box to ogle his wife and other cheerleaders is included in those SEC filings . . .

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Coming Together

Did this deal come together in Mayo Shattuck’s ’76 skybox?

Several former executives from Alex. Brown & Sons, a firm that figured prominently in Baltimore’s history but whose ranks were decimated after being acquired several years ago, announced a comeback of sorts yesterday. Signal Hill Capital Group, a boutique Baltimore investment bank founded by former Alex. Brown workers, will expand its business while adding market research, trading and sales

The new group at Signal Hill came together with the help of Mayo A. Shattuck III, who helped engineer Alex. Brown’s sale to Bankers Trust Corp. in 1997, before it was sold again to Deutsche Bank. Shattuck is now CEO of Constellation Energy Group Inc.

Readers interested in investment banking as a career or industry should start with The Accidental Investment Banker.

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Youthful

Dan Daly ’76 is a sports columnist at the Washington Times. Here he writes on his classmate Mayo Shattuck ’76.

It would have been fun to tell people, “I graduated from college with the future commissioner of the NFL. We took the same Poli Sci class one semester, if memory serves. He was a pretty good tennis and squash player.”

Alas, Mayo Shattuck, Williams College ’76 (and currently CEO of Baltimore’s Constellation Energy), didn’t get the job. Roger Goodell, Washington and Jefferson ’81, did. Maybe the NFL wasn’t ready for Mayo, a fellow whose youthful wife, Molly, is a cheerleader for the Ravens.

Indeed. I like the choice of “youthful” as an adjective. Wonder what others Daly considered and rejected? By the way, assume for a second that the College is considering awarding a Bicentennial Medal to a member of the class of 1976. Assume that the choice is down to Shattuck and Daly, both successful in their fields. Odds are, the College would choose Shattuck because he has been incredibly successful, making fortunes in two different industries: banking at Alex Brown and energy at Constellation. The fact that he is ludicrously rich wouldn’t hurt his chances.

But Daly, unlike Shattuck, is still married to the woman he met at Williams. He has not traded her in for a younger, less educated model. Should that count for anything when the College decides who to honor and who not to? Just asking!

Where are my feminist friends when I need them?

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Eph NFL Commissioner

Sean Denniston ’87 writes:

I was routing for Mayo Shattuck to succeed as NFL Commissioner as an Eph (and I worked with Fred Nance in Cleveland so he was a second choice). However, this new Commissioner Goodell does have a Williams connection. Commissioner Goodell’s father

was class of 1948. Congratulations!

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More Housing Reading

Dave Glick ’02 and other writers did a masterful job of summarizing the history of housing at Williams in a series of Record articles in 2001. Dan’s summary opinion piece, “Community Does Not Come Cheap,” is marvelous.

The history teaches us that restoring the type of community so many of our alumni remember fondly will require substantial payments of both monies and freedoms. The house system they recall evolved into the system of lotteries and room draws because Williams collectively decided to stop “paying” for its maintenance. Any new system which could even offer the potentiality of true residential community would require all of us to pay a substantial price, and not just financially. Community does not thrive on temporal programming but instead requires the durable foundation of genuine sacrifice, especially the collective sacrifice of individual freedoms.

Exactly right. In many ways, money — barring a complete redesign of the College’s physical plant — is almost besides the point. There is a trade-off between freedom and community — or rather a certain kind of community, one in which the different sub-communities are both diverse and of similar status.

Glick goes one to write:

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Otis ’77 new CEO of Darden

Great article about former Williams trustee (and CEO of Darden Restaurants) Clarence Otis ’77.

Otis was an unlikely choice in the eyes of some Wall Street observers to replace the retiring patriarch, considering his financial, rather than operational, background.

But Darden’s former chief financial officer did serve a two-year stint starting in 2002 at the helm of the company’s Smokey Bones barbecue unit, which doubled in size under his direction.

He is a decided change of pace for the company and its 141,000 employees. During a recent interview, Otis balked at discussing himself or his past, saying he didn’t want the spotlight during this important time of change at Darden.

I can’t think of an Eph who has more people working for him than Otis does. He is one of only three Ephs in charge of a S&P 500 company. The other two are Mayo Shattuck ’76 of Constellation Energy and Henry Silverman ’61 of Cendant.

Fans of the web of Eph influence will note that Otis serves on the board of St. Paul Travelers, along with trustee Robert Lipp ’60 and Dean Nancy Roseman. Lipp, chair of the executive committe of the board of trustees (i.e., lead trustee in charge) is almost certainly the person who recruited Otis (and Roseman) to the board.

There is nothing wrong with that, of course. Indeed, part of Lipp’s job as chairman of Travelers is to find smart, hard-working folks like Otis and Roseman to recruit to the board of directors. But critics of, say, George W. Bush’s business career should note that personal relationships play a role for everyone.

Indeed, one of the quips back in the day was that the main thing that we learned at Williams was how to make conversation aroun the keg. There was more than a little truth to that, of course. But what I didn’t realize till many years later is that being able to make conversation around the keg is a critically important skill in the business world.

Although I have never met Otis (or Lipp, Silverman, Shattuck, et al), I feel certain that he is a charming, engaging, personable fellow. It is almost impossible to climb to the top of a large company without these sorts of people skills, as well as many other talents.

So, current Ephs should be sure to spend a lot of time standing around the keg and making conversation this Winter Study. Your future success in the business world depends on it!

The whole article is a great read, but, for me, the best part is:

Family and friends describe Otis as intelligent, humble and driven to succeed.

His father, Clarence Otis Sr., 72, remembers the day he picked up the phone to hear the news of his son’s promotion at Darden: “I finally made it to the top, dad,” his son told him.

Otis is not the only Eph who hopes to impress his father some day.

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Eph 500

Today’s Eph trivia question is: Which Ephs are CEOs of companies in the S&P 500? One answer is Mayo Shattuck ’76, head of Constellation Energy. The Economist ran a profile on Shattuck in August (link not available but article provided below the break). Here is a longer, albeit somewhat dated, overview on Shattuck’s career. Fellow Ephs provide some commentary.

Christopher Grant [’76], another Nobles grad who was also Shattuck’s roommate at Williams for four years, said Shattuck always had a quiet confidence and a natural leadership ability even at a young age. Shattuck was elected president of the student government at Williams his senior year and was also captain of the tennis team.

“Mayo dedicates himself to things, and what Mayo wants, Mayo gets,” Grant said. “Everyone felt that Mayo was a decent person with a good brain.”

Other friends and colleagues note that for all of Shattuck’s wealth and power — Deutsche Bank was paying him more than $7 million a year — he still remains very grounded, loyal to old friends and not as arrogant as many chief executives.

“He’s just as nice and natural a person as you’d ever like to meet,” said Frederic M. Clifford [’58], a Nobles grad who served as president of the school’s board of trustees. “He doesn’t carry an ego in any shape or form.”

For those wondering if Shattuck is our still mysterious Eph Donor, I think that he isn’t — even though his son (Mayo IV) is class of 2003 and his daughter Kathleen is (I think) a senior. Why not? Recall that our mystery donor was a scholarship student at Williams. Shattuck’s family was well-off (although his father did pass away when he was 19) and he attended one of Boston’s tonier prep schools. So, I suspect, but don’t know for sure, that he was not on financial aid at Williams.

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