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Profile: Edward H. Crane III
Edward H. Crane III was a participant or observer in the following events:
The billionaire oil magnates and conservative political financiers Charles and David Koch (see 1979-1980, 1981-2010, 1984 and After, Late 2004, May 6, 2006, April 15, 2009, May 29, 2009, December 6, 2009, November 2009, July 3-4, 2010, August 28, 2010, August 30, 2010, September 24, 2010, January 5, 2011, October 4, 2011, and February 14, 2011) launch a court battle to take control of the libertarian Cato Institute, a Washington-based think tank. The Cato Institute began in 1974 as the Charles Koch foundation and changed its name to the Cato Institute in 1976, with the support and funding of the Koch brothers (see 1977-Present). Until last year, the institute had four primary shareholders with a controlling interest: the Koch brothers, Cato president Edward H. Crane III, and William A. Niskanen, a former Reagan administration economic advisor who died in 2011. The Kochs believe that there should be only three shareholders now, which would give them complete control of the organization, but Crane says Niskanen’s 25 percent share should go to Niskanen’s widow, Kathryn Washburn. Koch lawyer Wes Edward says the dispute is about nothing but shareholder rights. Cato has 120 full-time staffers and around 100 visiting or adjunct scholars. Its annual operating budget is $23 million. [Politico, 3/1/2012]
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