January 5, 2003

Brother Marvin Gets His Share of the Take

Another Bush brother gettin' while the gettin' is good. See The St. Petersburg Times.

As Times business columnist Robert Trigaux says, "the Bush brothers' track record as directors of troubled companies is gaining legendary status".

The most recent incident to surface involves brother Marvin Bush, who recently resigned from his director's seat on the board of Fresh Del Monte Produce Inc., a Florida company spun off from Del Monte. He resigned "for personal reasons," though his term was supposed to go until 2005.

The personal reasons may have something to do with a $60-million lawsuit filed by former investors in Fresh Del Monte "accusing majority shareholders IAT Group and Palestinian chairman Mohammad Abu-Ghazaleh of paying bribes to buy the banana and pineapple produce company in 1996 at a 'ridiculously low price.'"

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