J. Roderick MacArthur: Difference between revisions

Revision as of 13:03, 16 April 2017

Revision as of 19:02, 18 November 2017

Line 51:

Rod MacArthur filed two lawsuits in an effort to redirect the board and foundation. In February 1984 he sued fellow board members, charging that they were acting as executives of Bankers Life and were looking out for their own best interest and not the needs of the foundation. He alleged that the foundation was not managing its assets properly. MacArthur said that high fees were being paid to board members for their foundation work, and he believed that Bankers Life was not being managed well and had lost value. He requested that either the foundation be dissolved or that the court appoint a receiver to manage and sell Bankers Life.

After MacArthur blocked the sale of Bankers Life at $268 million, the board found a buyer that was willing to pay $384 million for the company.<ref>[{{cite web |url=http://www.learningtogive.org/papers/index.asp?bpid=152&print=yes] |title=Archived copy |accessdate=2006-09-22 |deadurl=yes |archiveurl=https://web.archive.org/web/20070312074758/http://www.learningtogive.org/papers/index.asp?bpid=152&print=yes |archivedate=2007-03-12 |df= }}</ref> This sale removed the Bankers Life issue from the suit. MacArthur's allegations that board members and key foundation executives were profiting at the expense of the foundation were still open.

While still on the board of the John D. and Catherine T. MacArthur Foundation, MacArthur pushed the Board to offer the MacArthur fellowships, also called "Genius Grants".<ref>{{cite web|url=http://www.macfound.org/site/c.lkLXJ8MQKrH/b.959481/k.7895/Frequently_Asked_Questions.htm |title=Archived copy |accessdate=2013-10-11 |deadurl=yes |archiveurl=https://web.archive.org/web/20120204053858/http://www.macfound.org/site/c.lkLXJ8MQKrH/b.959481/k.7895/Frequently_Asked_Questions.htm |archivedate=2012-02-04 |df= }}</ref>

Line 65:

==External links==

* [https://web.archive.org/web/20060928174115/http://www.macfound.org/site/c.lkLXJ8MQKrH/b.959481/k.7895/Frequently_Asked_Questions.htm/ John D. and Catherine T. MacArthur Foundation Website noting J. Roderick' MacArthur's role in the Genius Grant's]

*[http://www.winstonbrill.com/bril001/html/article_index/articles/1-50/article23_body.html Independent Article about the founding of the Genius Grants], Winston Brill

*[https://query.nytimes.com/gst/fullpage.html?res=950DE2D71638F937A35755C0A96F948260/ letter to the Editor of the New York Times by MacArthur’s Lawyer regarding the Law suits]