Chapter 13 - THE COLLINS BOARD
The family company faced crisis.
Investors feared succession fraud.
Board members asked Arthur to separate personal matters from corporate governance.
Arthur said the personal fraud occurred through company resources.
Security.
Attorneys.
Foundation payments.
Medical contracts.
Separation was the problem.
He proposed independent investigation.
Removed Eleanor from all authority.
Placed his own voting control under temporary review.
Directors resisted.
Arthur threatened resignation.
The board accepted.
Auditors found decades of concealed payments, intimidation settlements, and private medical arrangements.
Eleanor had used philanthropy as access.
Hospitals.
Judges.
Politicians.
Lawyers.
She created loyalty through grants.
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Then collected silence.
The company survived only by exposing itself.
