2,901,692 shares
Percent of Class Represented = 39.5%
Calculated based on 7,341,602 shares of Class B Common Stock outstanding 6,202,149 shares reported by the Company as outstanding on May 3, 2013 plus 1,139,453 shares issuable upon conversion of Class A Common Stock beneficially owned by Mr. Graham, share for share, into Class B Common Stock)
The procedures "would clarify that the National Security Agency (NSA) may analyze communications metadata associated with United States persons and persons believed to be in the United States", Wainstein wrote.
"As revolutionary instruments (when nothing but revolution will cure the evils of the State) [secret societies] are necessary and indispensable, and the right to use them is inalienable by the people." --Thomas Jefferson to William Duane, 1803. FE 8:256
In what may be the most brazen diversification play in media, the Washington Post this week said it’s purchasing Forney, a Texas-based company that makes burners and flame detectors for industrial furnaces.WaPo went from staunch defender of private equity underwriters to being one.
Chief Executive Officer Donald Graham said Washington Post is pursuing a “decentralized operating philosophy.”
The Post’s “ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon.”
The Securities and Exchange Commission put out a press release last week announcing its plans to lift a general solicitation ban on hedge funds and private security offerings.It went on to say:
Two days later, it put out another press release detailing its complaint against Kevin G. White, a purported private-equity and hedge-fund manager from Plano, Texas, for solicitations he’d been making for years.White is accused of taking investor money and spending it on personal items as well as misrepresenting his background and performance.
Blackstone Group LP (BX:US), the world’s biggest manager of alternative assets, is starting a mutual fund that will invest in hedge funds, part of an industrywide push to attract assets from individual investors.The Blackstone Alternative Multi-Manager Fund will charge annual fees of 3.25 percent of assets, including a 1.95 percent management fee.
“After he left the White House, he kept going and going and going, in between skydiving and other activities.”Other activities included advising Rubenstein's Carlyle Group. The same Rubenstein regularly dines with President Obama and his advisors.
Global private equity firm the Carlyle Group is waiting for the end of Ramadan before starting talks on a new $750 million fund for the Middle East and North Africa, according to two investors familiar with the matter.
Mountain Water is asking for 10 percent return on equity, with a rate of return of 9.29 percent.Carlyle's 10% return on equity is magnified by other common PEU moves, adding debt in order to pay their "sponsor" a PEU dividend, charging management fees for Carlyle's management expertise, and flipping the company for a multiple of the original purchase price from an outright sale or IPO. As for Carlyle earning any Mountain Water management fee:
John Alke, the Helena attorney representing Mountain Water, told commissioners the company isn’t willing to lower its rate-of-return request.
“We conceded to several adjustments, not rate of return,” he said.
Mountain Water testimony filed in the case said 10 percent return on equity is a standard measurement used by the commission to determine rate of return.
Mountain Water Executive Vice President Leigh Jordan said that Carlyle’s lack of experience running a water utility hasn’t allowed it to quickly make efficiency and money-saving measures that could potentially help keep rates down.How much are customers of Mountain Water paying to school Carlyle Group executives? At least 10% ROE if the rate increase is approved.
Hillary Clinton addressed an investor meeting in Los Angeles of KKR, the private-equity giant, and fielded questions from firm co-founder Henry Kravis.
Only Clinton’s husband is on a par with her in speaking fees among political figures.Bill advised at least two PEU's to date, Yucaipa and Teneo. I'll bet Hillary will stick to PEU speaking fees and not accept a PEU Senior Advisor position before 2016. However, the family is free to PEU multiply.
Carlyle Group LP is betting that industrial companies rather than buyout firms are more likely to meet its target price of up to $1.5 billion for the aerospace communications firm Arinc Inc, according to four people familiar with the matter.This feels like an anonymous White House senior official story, where the leak is intended to signal something to insiders or test public reaction. Reuters failed to report Carlyle's $1 billion price tag when it shopped ARINC three years ago.
Industrial conglomerate Honeywell International Inc and travel technology company Amadeus IT Holding SA are weighing offers in the second round of bidding for Arinc, the sources said, adding to the roster of companies participating in the auction previously reported by Reuters.
Lockheed Martin Corp, Rockwell Collins Inc and Thales SA, as well as a handful of private equity firms, also made it through to the second round, sources familiar with the matter told Reuters last month.
The Securities and Exchange Commission (SEC) voted to allow a wide variety of companies far greater scope to privately sell their securities to US investors. Importantly, hedge funds and private equity funds were permitted to come along for the ride.A good indicator of a firm's ethics is how they behave under stress. The Carlyle Group pled puffery in a SemGroup shareholder lawsuit. Carlyle defended its strong sales pitch to SemGroup shareholders and Michael Huffington, who lost $20 million in a "safe" investment in Carlyle Capital Corporation.
This opens the door to the possibility of mass mailing, email blasts and cold calling, as well as to full page ads in newspapers and magazines or commercials on Sunday morning television.
Water Pik Inc. closed a deal Monday to change its ownership to an investor group led by New York City-based private equity firm Midocean Partners, CEO Richard Bisson said.
The ownership change came after EG Capital and the Carlyle Group decided to divest their ownership stakes of Water Pik, which makes dental water jets and showerheads. The Midocean-led investor group, which includes private equity firm Vulcan Capital, headed by Microsoft co-founder Paul Allen, now own privately held Water Pik.
The ownership change will benefit Water Pik as it seeks to expand its international sales, Bisson said.
Tim Geithner, the former US Treasury secretary, has been elevated to the highest rank of public speakers, alongside former world leaders Bill Clinton and Tony Blair, after receiving about $400,000 for three speaking engagements.
He spoke in June alongside Nicolas Sarkozy, France’s ex-president, and Mario Monti, Italy’s former prime minister, at Deutsche Bank’s annual conference in the UK. Mr Geithner gave a speech before taking questions from Peter Hooper, the bank’s chief economist who has invited him to participate in a “few client events this year”, the bank said.The Carlyle Group employs a Sarkozy. Mario Monti worked for Goldman Sachs. Note the invitation to work with a few client events, i.e. more huge fees for Geithner. The Government-Corporate Monstrosity, Eisenhower's Military-Industrial Complex on trillions in federal steroids, takes care of its own.
Mr Geithner was also the main attraction at Blackstone’s annual meeting in April, and the following month appeared at Warburg Pincus’s annual meeting. He was paid no more than $100,000 by each of the private equity groups, according to people familiar with the matter.
Obama promised $7 billion in financial support over the next five years to bring “electricity access” to 20 million new households in Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania, as well as help countries like Mozambique develop their oil and gas resources.The Blue team has a number of high profile members, Madeline Albright and George Soros with investments in power generation services
APR Energy LLC, a leading provider of major turnkey temporary power generation services, announced today that private investment funds managed separately by Soros Fund Management LLC and by existing investor, Albright Capital Management LLC, have committed to invest $250 million in the Company. The transaction provides substantial new growth capital, which APR Energy intends to use to significantly increase its fleet of power generators and expand its operating footprint in South America and Africa.How might a portion of that $7 billion make its way into the pockets of Madeline & George? Reuters gave several clues:
The company (APR Energy) primarily supplies government utilities in developing nations with interim solutions from six months to three years while the utilities look to install lasting power solutions. APR is also targeting mining, oil and gas industries for future business.
Soros and Albright teamed up on another investment, adding communication towers in Africa. Towers need power. Follow the money.
Update 8-9-14: PEU's Carlyle Group and Blackstone will joint venture with Africa's richest man on powering Africa. Good thing these people have rich government subsidies.
Update 3-23-22: Madeline Albright died today. Cancer took her life at the age of 84.
David Rubenstein, the co-founder of the powerful Washington investment firm the Carlyle Group, noted that sequestration – designed to be terrible – has not increased Congress's desire to pass a real budget. In fact, it's done the opposite:Why do politicians need ardor to lead? Passing a series of budget bills is their job, which they've long abdicated into an omnibus spending bill. When that got too hard they lowered the bar to sequestration. It seems Congress can only do things by passing bills with automatic triggers.
"The deficit is down to $350bn [from more than $1tn], so the ardor to do anything has completely gone."