Friday, February 24, 2012

Carlyle's Rubenstein: Ain't No Steve Jobs

CES on the Hill will host a technology session for federal policymakers, members of Congress and the media.  CES will honor two Congressmen and honor Carlyle Group co-founder David Rubenstein for "his role in advancing technology." 

Advancing technology?  When BusinessWeek cited Rubenstein as a member of the Most Influential Fifty people, they wrote:

The secretary of state of private equity travels more than two-thirds of the year,raising new money. Rubenstein, 62, owns a copy of the Magna Carta that is more than 700 years old.

How does someone traveling more than two thirds of the year raising money advance technology?  Rubenstein is no Steve Jobs, who spent his life innovating technology.  Past winners of this award include Bill Gates and Michael Dell. FT reported:

The workaholic Mr Rubenstein denies saying that the happiest day of his life was the day he could send emails from the air.

Rubenstein's innovation pulls management fees and special dividends from Carlyle's tech investments.  It loads firms up with debt, because PEU's would rather pay interest than taxes.  It cut head count and the pension for Brintons, a recent acquisition, albeit not a tech company.

Why would CES on the HIll award a tech prize to David Rubenstein?  It's their technology field of dreams.  Invite Rubenstein and they will come.    "They" are members of the Government-Corporate Monstrosity, Eisenhower's MIC on trillions in federal steroids.  What will pandering to a Carlyle co-founder get CES on the Hill, besides attendees? 

Ironically, there's a different David Rubenstein, one at home in the high tech world.  That Rubenstein doesn't draw crowds like the PEU.

Carlyle's David Rubenstein, Secretary of our PEU State, I like that.

Update 3-13-12:  Rubenstein will get the Digital Patriot award. I wonder how many Carlyle affiliates rooted through citizens' digital information on behalf of Uncle Sam.  Start with Booz Allen Hamilton and follow the Carlyle trails.

Update 4-17-12:  The event begins next week.