Sunday, September 27, 2015

Carlyle Co-founder Makes Head Table for Chinese State Dinner

Carlyle Group co-founder David Rubenstein and his wife Alice sat at the prestigious head table at the White House State Dinner for Chinese President Xi Jinping.  Politico referred to affair as "a glitzy and glamorous good time."  WaPo reported the wealth at the head table to be $49 billion.  That's from a mere fourteen guests.  As four of the guests are couples the $49 billion comes from ten people, an average of nearly $5 billion per power person/couple.

The Carlyle Group taught the Chinese about private equity, with its numerous PEU investments in China.  Carlyle's Chinese affiliates killed and sickened babies (Yashili) and exposed children to toxic jewelry (Oriental Trading).  That's what happens when greed combines with management practices that erode quality.

Carlyle has its sights set on turning Alaska into a Chinese like economy.  Mrs. Rubenstein, Alice Rogoff Rubenstein is in a unique position to advance this as owner of the largest newspaper in Alaska.  President Obama visited Mrs. Rubenstein's home less than a month ago.  Rogoff wants the government's help to develop deep water ports on the west coast of Alaska. 

President Obama hosted the billionaires' head table.  He is putting the finishing touches on his legacy and likely future employment.