The King children are back in the news, with Martin III and Bernice still struggling to protect their parents' reputation and legacy from the seeming greed and exploitiveness of brother Dexter, who is out in California living a high life style and trying to make money off the legacy. A judge has ordered them (meaning Dexter) to have a meeting of the corporation next week, which the other two have long been demanding.
Once the corporation set up to handle the King legacy had five members: these three plus widow Coretta and sister Yolanda. Now there are only the three. Dexter is the CEO and has apparently been running things on his own. Martin and Bernice say that he has not held a meeting in five years, will not give them financial accounting, and there have been embarrassing public disputes between the two camps over Coretta's papers and now some love letters between the parents. Dexter wants to turn everything into money; the other two seem to want a more dignified handling of the legacy. And they also want their share of the money, which they claim they have not been getting.
It's sad.
It seems clear that if there is a meeting, the other two will outvote Dexter, and there will be some changes. On the other hand, according to the AJC, the charter says a meeting requires 80% of the members of the corporation to be present. When there were five, it meant four of them had to be there. Now it means that all three must be present. So Dexter can avoid a meeting simply by not coming. Unless a judge orders it -- and he has.
So, stay tuned. Unless it's more than you want to know about the sad tarnishing of an iconic family's reputation.
Ralph
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment