Whitehaven Chairman Mark Vaile (left) and CEO Paul Flynn (right)

There aren’t too many former politicians who make the transition to the Directors’ Club and generate good returns for investors. As Warren Truss contemplates his exit, one of his predecessors as National Party leader and deputy prime minister, Mark Vaile, has been seriously exposed by the commodities crunch. Not that he’s admitting there are problems out there for cratering coal companies like the one he chairs.