After retiring as head of the railcar-leasing company GATX Corp. in 1996, James Glasser dreaded the risk of boredom. He wasn’t a golfer and no longer played much tennis.
The Chicago Community Trust, which funds programs aimed at reducing poverty, provided a worthy perch. His work there proved trickier than expected, however. Relations between the trust and one of its biggest backers—the Searle family, heirs to a pharmaceutical fortune—had soured by the time Mr. Glasser became chairman of the trust’s executive committee in 1998.
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