Rance Bachman sits on the boards of four oil companies and two propane manufacturers. His friend, Kimmel Evans, sits on five of the same boards. Such a situation where the same directors sit on multiple boards and control the economic and political activity of the industry is called ________.

Question

Quizplus · Accepted Answer

The situation described is an example of corporate interlock, where the same individuals sit on multiple boards and exercise control over the economic and political activity of the industry. This can contribute to a lack of diversity and competition within the industry, potentially leading to negative consequences for consumers and the overall economy.

Rance Bachman Sits on the Boards of Four Oil Companies