T. Boone Pickens’ motives in energy plan questioned
Railing against the “club” of Big Oil and promising to shake up “management entrenchment,” T. Boone Pickens once turned his epic takeover battles with oil companies into a national effort to make public companies more accountable to shareholders.
He modeled his effort on a political campaign - complete with lobbyists, grass-roots supporters and his own money. A corporate raider whose duels with incumbent managers earned him millions, Mr. Pickens became the public advocate of shareholders betrayed by dull corporate bosses.