Booz Allen Hamilton (NYSE:BAH) formed in 1914 has a whistle-blower making some huge allegations about the US government spying on citizens through the telecommunications infrastructure. One of its own employees or consultants who was working inside the NSA opened up his kimono and let the secret out. Edward Snowden a former employee of the CIA; I’m sure he knows what he is doing. Wonder if he will get whacked one day.
The very interesting side bar is Booz Allen Hamilton is appointing as at June 12 a brand new director of the board. Joan Lordi Amble is coming on board.
The big question is when she received her briefings to bring her up to speed as a member of the board, did Booz Allen Hamilton give her with any information on the lyrics the whistle-blower is singing. If they did what does that say about Joan Lordi Amble. If they did not what does that say about the corporate governance process of keeping directors particularly new directors up the curve so that they can discharge their fiduciary responsibilities.
Joan Lordi Amble probably wants a good meeting with her own lawyer. If her hands are clean you want to keep them that way.
Her background is impressive and she brings a lot to the table. Women director gets a big check mark here. The résumé includes being executive vice president at American Express. She is an alumnus of Ernst Young with work experience from 1977. she has spent 14 years at General Electric where she was chief operating officer and chief financial officer of GE Capital Markets. She is also a director of Brown Forman and Sirius XM Radio.
So before your lawyers meeting you want some ibuprofen and if you do lunch a martini would be understandable.
Good Luck. By the way do you remember who first approached you. That will speak volumes when those dots are connected.
George Gutowski writes from a caveat emptor perspective