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Andrew HeiskellAndrew Heiskell
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Session:         Page of 824

Heiskell:

The finance committee would meet regularly and independently under Charlie Stillman, originally, and it was fairly active, particularly in terms of Texas and the development of the forest products industry.

Q:

What about--what about potential conflicts of interests with board members, for example, in the fact that their corporations would be covered by the publications? Did that ever arise?

Heiskell:

It was always a problem. There were--let me approach it from a different point of view. We never could have anybody from the tobacco business, because they were very big advertisers, and it would be assumed that if there was anybody from tobacco industry on our board that they would influence our editorial position. You never could have anybody from the automotive business, because the automotive business was so competitive that if you had somebody from General Motors, the odds are that you would suffer on the advertising front from Chrysler and Ford. Practically the same was true of the food business--

Q:

Pepsi or Coke.

Heiskell:

Pepsi or Coke, or General Foods, Nabisco, or what have you. So your choices were reasonably limited as to who you would approach.





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