Saturday, February 2, 2019

Rubenstein Reminds Davos of Dubai Ports World

CNBC interviewed Carlyle Group cofounder David Rubenstein from the World Economic Forum meeting in Davos, Switzerland.

Reporter Becky Quick referred to Rubenstein as "deeply sourced in Washington, D.C."  Later she remarked  how comfortable Fed Chair Powell felt with Rubenstein, but failed to mention Powell once worked for The Carlyle Group.

Rubenstein talked about political risk in the United States.  He said:

"Remember the famous Dubai Ports case?" 

Salesman Rubenstein knows Carlyle sold affiliates Landmark Aviation and Standard Aero to Dubai Aerospace just months after the Dubai Ports World debacle.  Fifty airports vs. six ports, which is worthy of greater outcry?  Deeply connected Rubenstein's deal went through without a peep.  He reminded the Davos crowd and CNBC anchors of this accomplishment ever so indirectly

The annual meeting of the billionaire boys club is over.  The world still aims to serve them.  Slap your bootstraps on and enjoy being ridden.  It's the PEU way.