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Some mayors collect second paycheck as corporate directors

By Laurie Bennett

March 2, 2009 at 2:28pm

Dallas Mayor Tom Leppert, director of failed banking company Washington Mutual, isn’t the only big-city mayor to sit on a corporate board.

A review by the Dallas Morning News lists two others: Houston Mayor Bill White is on the board of BJ Services and San Diego Mayor Jerry Sanders is a director of Coronado First Bank.

The Morning News also notes that New York Mayor Michael Bloomberg, while not a director, remains involved in decision making at the company he founded, Bloomberg LP.

A check of the Muckety database reveals several mayors of smaller cities who also hold director seats.

Patrick L. McCrory, mayor of Charlotte, NC, was recently named to the board of Tree.com, the parent company of LendingTree and several other financial/real estate companies.

Edwin W. Martin Jr., mayor of Venice, FL, is a director of Pall Corp., a maker of filtration equipment. (He also happens to be a victim of the Bernard Madoff scam.)

Spartanburg, SC, Mayor William Barnet III sits on two boards - Bank of America Corp.and Duke Energy.

Former mayors, particularly those who go on to higher office, are popular choices for director posts. Jake Garn, a former astronaut who served as mayor of Salt Lake City and as a U.S. senator from Utah, sits on at least four corporate boards.

Former Washington, DC, Mayor Anthony A. Williams just took on a big, possibly thankless job, becoming a director of Freddie Mac.

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