There is good reason to sell your stock
in the following companies: Aflac, Alltel, Barnes & Noble,
Cablevision, Comcast, Ford, News Corp., Playboy, PPR, Qualcomm,
Viacom and the Washington Post. All of these were listed in the Wall
Street Journal as public companies where the CEO was a family member
succeeding a previous CEO. The same was true of Motorola but the
Board kicked out the family CEO. Ford Co. hasn't succeeded in doing
the same thing yet (William Jr is a power behind the throne.)
Could this nepotic behavior possibly be meritocratic? No.
No one has ever heard of the scion of a CEO stolen away from a major company because he or she was so good that they were desirable candidates for another CEO position. Finding a top flight CEO is a tough job. Scions of CEO's are usually below par on their own; barely good enough to get a job without their family help.