Posted by
Gabrielle Cusumano on Thursday, March 29, 2007 7:36:18 PM
Sen. Hillary Clinton, quoted in Tuesday’s New York Times:
“I can tell you this: It’s very hard to stop people who have no shame about what they’re doing. … It is very hard to stop people who have never been acquainted with the truth.”
Hillary Clinton's $2.6 Million Hollywood Hit
Tuesday, March 27, 2007
By Roger Friedman
AP
Sen. Hillary Clinton, D-N.Y.
Hillary Clinton | Anthony Pellicano | Live Earth | Hugh Hefner's Love
Hillary Clinton's $2.6 Million Hollywood Hit
Sen. Hillary Clinton hit Hollywood last night at the estate of grocery store mogul Ron Burkle and took home $2.6 million for her presidential campaign.
It was twice as much as Sen. Barack Obama raised last month at a similar fundraiser thrown by DreamWorks SKG's David Geffen — a point that was made privately during the Clinton event by many of the fundraisers.
And while the Burkle event didn't have the quantity of star power that the Geffen event had, it sure had the quality. Clinton was seated at the head table with Barbra Streisand and her husband, actor James Brolin; Yahoo chief executive Terry Semel, who once was the co-head of Warner Bros. with Robert Daly; and Daly, with wife, songwriter Carole Bayer Sager.
was also represented by current Warner's chief Alan Horn, as well as actors and longtime Clinton friends Mary Steenburgen and Ted Danson; "Entourage" star Jeremy Piven; "American Idol" judge Paula Abdul; record exec Jeff Ayeroff; HBO chief Chris Albrecht; esteemed producer Norman Lear; and Motown founder Berry Gordy Jr. Close Clinton friend Quincy Jones was absent, but sources said there was an unavoidable conflict.
There were also cadres of agents from the various Hollywood talent agencies: Emmy-winner Christine Lahti; producer/billionaire Steve Bing; TV producer Peter Locke; and even iconic TV actress Catherine Bach, aka Daisy Duke from "The Dukes of Hazzard."
They weren't Jennifer Aniston or Denzel Washington, some of the celebrity guests who attended the Geffen/Obama event. But as one observer pointed out: The 500 or so Burkle guests all paid for their tickets.
"There was no padding," the source said.
And there was money: Haim Saban, the billionaire mogul whose fortune comes from children's television, was front and center. So was Los Angeles philanthropist and real-estate magnate Richard S. Ziman and the man who invented Ticketmaster (and made a fortune from it), Fred Rosen. Yahoo! co-founder Jerry Yang was also spotted.
As has been reported in the last few days, another Clinton Hollywood fundraiser is being planned for next month. Steven Spielberg, Geffen's partner, is the host.
Key to last night's event, though, was the appearance of Streisand. A longtime, steadfast Clinton friend, Streisand attended the cocktail party, stayed until the end, ate the chicken-and-mashed-potato dinner and even led the question-and-answer session that followed the presidential candidate's enthusiastic speech that covered the Iraq war, climate change, Sept. 11 funding in New York and, of course, health care.
Streisand, taking the microphone at her table, at first fumbled.
"I'm scared of microphones," the legendary singer quipped. Then she asked, "Did New York ever get the money for 9/11?"
The answer, Clinton said, was yes, but only because she and New York's other senator, Chuck Schumer, went to President Bush with the request. Clinton said that the big fear now was not enough continued funding for those who suffered from illnesses stemming from the World Trade Center tragedies.
The second question of the night came from John Emerson, a former member of the Bill Clinton administration and now head of the Los Angeles Music Center. He asked Hillary Clinton what the role of "first spouse" would be for former President Clinton if she became president.
"It's a somewhat unusual circumstance," she replied. "What would a first man be called? I have no idea."
She said it would be a great blessing to have former presidents doing PR for America around the world and cited the recent teamwork of former Presidents Bush and Clinton for tsunami relief.
"Bill is probably the most popular person in the world," she said.
And where was the former commander-in-chief? Considering he often stays at Casa Burkle, it seemed a reasonable question.
But apparently, every appearance by Hillary Clinton's husband at one of her fundraisers includes his security detail and must be charged to the campaign — a cost of $200,000, according to one insider. So, Bill Clinton's work on behalf of his wife has to be employed judiciously.
By the time the dinner was over and Sen. Clinton had wowed the audience under a pale gold tent in Burkle's backyard, we also got to hear a pro-Hillary song recorded by "the very right-wing" country star Merle Haggard called "Let's Put a Woman in Charge" — very catchy.
We learned, too, thanks to Steenburgen — who introduced Clinton — that the former first couple recently focused their amazing conflict-resolution skills on the 1981 Oscar-winning actress' lagging career.
It must have worked: She has five projects scheduled for this year alone.
http://www.foxnews.com/story/0,2933,261020,00.html_________________________________________________________________
Bill and Belinda’s excellent adventure |
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But Clinton’s new, er, friendship isn’t helping his wife’s presidential aims, writes eric reguly |
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As potential girlfriends go, Belinda Stronach would rank as a true catch. She is single, youngish (she just turned 40), attractive, wealthy, impeccably well-connected and politically ambitious - glamorous in every respect. Two years ago, Time magazine listed her as one of the 100 most powerful people on the planet. The tabloids cut to the chase: they called her the "blonde bombshell" or "Bubba's blonde."
Bubba, of course, is Bill Clinton. He has been photographed with Stronach (right) several times. The sightings seem to be getting more frequent, leading to  |
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press speculation that their relationship has moved beyond official "friendship" - the description used by Stronach's PR people - to true romance. Poor Hillary Clinton. In the run-up to her presidential campaign, the last thing the New York senator needs is lurid stories about her skirt-chasing husband.
Two years ago, the woman Canadians refer to as "Belinda" quit both her job as CEO of the C$10 billion Magna International auto parts empire (created by her father, Frank Stronach) and her then husband - Norwegian speed-skating champion Johann Koss - for politics.
She was elected in a Conservative riding (constituency) just north of Toronto. More important, despite supporting abortion rights, gun control and same-sex marriages, she ran for leadership of the Conservatives - but lost to the right-winger Stephen Harper. |
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A year later she crossed the floor to join the governing Liberal party and was rewarded with a minor cabinet post. Alas, in January 2006, after barely six months in government for Belinda, the Liberals lost power. Belinda, though, held on to her seat and, less than two years after seeking to lead the Tories, found herself considering running for the Liberal leadership. But in April, after sizing up the competitors, including former Observer columnist and BBC presenter Michael Ignatieff, she dropped out of the race.
Clinton may not care too much. An acquaintance of Belinda's says: "Bill was always more interested in her money than her breasts." Still, you can't help but wonder if his ultimate fantasy revolved around Hillary in the White House and Belinda running Canada: Which G8 leader should I visit this weekend?  | |
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go back...page 3 of 3http://www.thefirstpost.co.uk/index.php?menuID=2&subID=578&p=2__________________________________________________________________
Bill Clinton Legitimizing the Anti-Semitic U.A.E.
Comment by Jerry Gordon
What’s the expression, “money talks, people walk” especially ex-President Bill Clinton and his coterie of former Administration insiders: Former Secretary of State Madelaine Albright and defamed former NSC Head, Sandy Berger. But, hey, the Republicans have sucked up to Sheik Al Maktoum the Emir of Dubai World Ports infamy who funds the Israel Boycott. They include Bush Senior, his son Neal of $1 billion bailout by us taxpayers of failed Silverado S&L “fame,” former New Hampshire Senator and White House Bush aide, John H. Sununu [his son John E. is currently one of the granite state’s Senators] and even GOP Presidential hopeful, former NYC Mayor Rudy Guiliani. You remember Rudy after 9/11 giving back Saudi Prince Alaweed bin Talal of Kingdom Holdings his $10 Million check, don’t you? Apparently, Emir Sheik Al Maktoum’s dough is ‘kosher.” Sure, and what’s the expression …”and pigs fly.” Sheik Al Maktoum has permitted terrorist dough to be funneled to the 9/11 perps from Dubai banks. He has a halacious human rights track record that includes virtually slavery for foreign worker kaffirs and how about those Paki kid camel jockeys. But Bill Clinton is in bed with the Al Maktoum entourage vis a vis their joint venture investment with Yucaipa Holdings headed by L.A. buddy and supermarket mogul, Ron Berkle. I guess it must be the indoor skiiing in Dubai that they all hanker for. So read this NewsMax.com piece by Dick Morris and Eileen McGann and ask yourself if Clinton, Bush, Dems and GOPers haven’t been taken in by the ton of mezumeh they have been “shtupped” with.
Dick Morris and Eileen McGann, NewsMax.com, Saturday, March 24, 2007
The past few years have seen a concerted international PR campaign to promote Dubai as a tolerant new Mecca of Middle East moderation and amazing economic growth.
And it’s working. Corporate giant Halliburton is moving its headquarters there; the famed Louvre is opening a branch in the emirate. Tourists are flocking to Dubai’s luxury hotels. But don’t be fooled. Dubai, which is one of the seven princedoms of the United Arab Emirates (U.A.E.), is anything but tolerant and progressive.
To put it bluntly: They don’t like Jews.
In fact, Dubai, like the rest of the U.A.E., is blatantly anti-Semitic. It bars all Israeli citizens from ever setting foot in the country. People from other nations whose passport have stamps indicating they’ve even visited Israel must notify Dubai immigration authorities of the stamp before entering.
Dubai is also actively involved in the Arab boycott of Israel: It bans all products made in Israel and even ones with parts made in Israel. But the emir of Dubai, Sheik Mohammed bin Rashid Al Maktoum, understands the value of using prominent Americans to legitimize his country and burnish its image in the American media.
That’s why former Presidents George H.W. Bush and Bill Clinton have been the objects of Dubai largesse. Their Dubai friends have given millions to each of their presidential libraries. And Bill Clinton has raked in more than $1 million for speeches he’s given in Dubai and the U.A.E.
Dubai’s PR machine went into high gear after 9/11 — in part to distract attention from the extensive use the terrorists made of the emirate. More than half of the hijackers traveled to the United States via Dubai. The 9/11 Commission noted that $234,500 of the $300,000 wired to the hijackers and plot leaders in America came via Dubai banks.
Several months after 9/11, Dubai’s newest best friend began his public association with the country. In January 2002, Bill Clinton gave his first Dubai speech (for $300,000). He’s been legitimizing the country ever since.
Clinton was the rainmaker who introduced the emir to his friend and employer, Ron Berkle, the owner of Yucaipa companies and a major fund-raiser for Bill and Hillary.
Last year, Yucaipa and the emir formed a new company, DIGL, for their joint ventures. So Bill Clinton is now an adviser and member of the board of directors of a company that is in partnership with the anti-Israeli government of Dubai.
The Clintons won’t reveal how much the former president pocketed for setting up this deal, except to report on Hillary’s Senate disclosure form: “more than $1,000.”
A lot more.
According to San Francisco Examiner columnist P.J. Corkery, Clinton makes $10 million a year from Yucaipa.
Bill isn’t alone in legitimizing Dubai.
Other Clinton pals — including disgraced former National Security Adviser Sandy Berger, ex-Secretary of State Madeline Albright, and Al and Tipper Gore — have attended highly publicized events there.
So have some Republicans — including former Bush Sr. Chief of Staff John Sununu, presidential brother Neal Bush and Rudy Guiliani.
Republican ex-Sen. Bob Dole and Democratic ex-Rep. Tom Downey lobby for Dubai; so does The Glover Park Group, home of Hillary Clinton spokesman Howard Wolfson and former President Clinton press secretary Joe Lockhart.
Major U.S. business leaders populate the many conferences sponsored by Dubai and its industries.
All of this helps legitimize Dubai. And no one mentions the problem with Israel.
Bill Clinton even created a Dubai Scholars Program at the American University in Dubai under the sponsorship of the William Jefferson Clinton Foundation. Laura Tyson, Clinton’s chairman of the Council of Economic Advisers, created a similar Dubai study program at the University of London. But not everyone is blind.
Last month, the University of Connecticut correctly abandoned plans to open up a campus in Dubai after serious complaints about Dubai’s state-imposed discrimination of people based on their national origin and religion and its documented violations of human rights. (For example, Human Rights Watch has said Dubai abuses tens of thousands of migrant workers from India and Pakistan.)
The Clinton Foundation certainly wouldn’t sponsor a program in America that banned Israeli students.
It shouldn’t sponsor one in Dubai, either.
It’s time to stop legitimizing an anti-Semitic state.
By James Rainey, Times Staff Writer
March 16, 2007
Former Los Angeles Times Publisher Jeffrey M. Johnson has taken an executive position with Yucaipa Cos., the private investment firm that last year joined in a bid to buy the newspaper's parent, Tribune Co. of Chicago.
Johnson will be a principal in Los Angeles-based Yucaipa, founded by supermarket magnate Ron Burkle, and will oversee its current media interests, which include parts of former Vice President Al Gore's Current TV channel and Source Interlink, a major distributor of magazines and CDs.
Johnson gained wide attention last year when he and then-Editor Dean Baquet defied demands by Tribune to cut the editorial staff of The Times. Weeks later, Tribune forced Johnson to resign. Not long after, Baquet also left under pressure.
Yucaipa executives said Thursday that the hiring of the former newspaper boss was unrelated to the private equity firm's joint bid in November for Tribune, whose holdings include The Times, 10 other daily newspapers, 23 television stations and the Chicago Cubs baseball team.
Burkle made that proposal in partnership with fellow Los Angeles billionaire Eli Broad. It would have required heavy borrowing to pay a large dividend to Tribune shareholders.
But the plan has apparently not gained traction with Tribune directors, who were supposed to decide the company's future as soon as this weekend. But the board is now expected to put off a decision until later this month.
In another media play, Yucaipa last year joined with the Newspaper Guild in an attempt to buy newspapers that were once part of the Knight Ridder chain. The bid failed.
The investment firm said Thursday that Johnson would "lead efforts to explore additional media investment opportunities."
"This is a chance to take advantage of my experience in the media, to work in a related field and to be a part of what I think is a great organization," Johnson said.
The 47-year-old executive said he met Burkle during the course of his duties as publisher of The Times.
He declined to say how long they had been discussing his move to Yucaipa.
james.rainey@latimes.com
A scandal-ridden billionaire who pays Bill Clinton millions of dollars annually to be an “adviser” is one of Hillary Clinton’s major donors and fundraisers although the New York Senator often votes on legislation that affects his massive empire.
Ron Burkle, the owner of Los Angeles-based equity firm Yucaipa, contributed millions of dollars to Bill Clinton’s campaigns, the Democratic Party and Bill’s longtime wife, Hillary. Burkle also paid a big chunk of the $11 million in legal bills Bill accrued during his presidential scandals and he is a huge benefactor of the Clinton Library in Little Rock.
Yucaipa supposedly operates funds that invest capital into poor urban and rural areas in the United States and abroad, the kind that traditional equity funds and banks are reluctant to serve. Among them is a clothing enterprise owned by multi-millionaire rap mogul Sean Puffy Combs, a major contributor to Hillary Clinton’s campaigns who has vowed to support her White House run in 2008. One writer called this an example of Democratic cronyism.
Hillary has refused to provide details of her hubby’s multi-million dollar ties to Yucaipa, claiming on her 2003 and 2004 Senate financial disclosures that Bill’s only Yucaipa income is “more than $1,000 in guaranteed payments” since some of the payments are back loaded until funds are actually cashed in even though they are guaranteed dollars in the bank.
This kind of deceit may bring back memories of Hillary’s infamous 1978 commodity trade in which she turned an initial investment of $1,000 into $6,300 overnight by ordering cattle futures contracts worth twelve times the amount in her account. In the subsequent ten months of trading the former First Lady made nearly $100,000 thanks to “inside” tips.
These kinds of lies and cover ups are par for the course for Hillary as has been well-documented through the years. This is why Emirates Economy calls Hillary the most ethically-challenged person in her marriage while saving others the trouble of drawing attention to the skeletons in her closet.
Posted by Anne
Now that California State Treasurer Phil Angelides has officially announced his candidacy for governor, it’s noteworthy to mention that he has steered hundreds of millions of dollars in state public pension funds to a company that employs his good friend, Bill Clinton, as an investment advisor.
The former president makes millions advising the Los Angeles-based equity firm Yucaipa, which happens to be owned by a close friend of the Clintons’, a scandal-ridden billionaire named Ronald Burkle. Over the years, Burkle has contributed millions of dollars to Clinton’s campaigns and the Democratic party and he paid a big chunk of the $11 million in legal bills Clinton accrued during his presidential scandals. Additionally, Burkle is a huge benefactor of the Clinton Library in Little Rock.
Supposedly, Clinton helps find investment opportunities that help fulfill Yucaipa’s mission of investing in poor areas. Thanks to Angelides, whose gubernatorial campaign features U.S. Senator Barbara Boxer and House Democratic Leader Nancy Pelosi as honorary co-chairs, Yucaipa has received $400 million from the California Public Employees Retirement System (CalPERS) since Clinton became an adviser. Additionally, the California teacher pension system, also guided by Angelides, has invested $61.9 million with Yucaipa but has yet to see the “stellar” return promised by the firm.
The CalPERS investments aren’t doing much better. Documents show the Yucaipa funds were paid $8.7 million in management fees in 2003 and two of the three Yucaipa funds have negative rates of return. Independent Sources encourages California’s public employees to ask whether their pension money is being invested with their long-term financial health in mind, or the short-term political health of Phil Angelides.
In the meantime, Angelides will continue to cut deals that fill his famous friends’ pockets with public funds as he strives to take over the Golden State. Not surprisingly, Angelides and his family have contributed thousands of dollars to Hillary Clinton, several of the infamous Kennedy family members as well as Boxer and Pelosi, the “honorable co-chairs” of his campaign.
Posted by at May 17, 2006 08:30 AM
Part Three: Obscenity and (Public) Retirement Money
Regardless of their political views, the American people believe in keeping politics out of decisions made about pension funds, private and public. That fact accepted, it must be true that they will take a few minutes to educate themselves about the obscenities associated with the nation’s former Number One Politician as adviser to an investment company that does business with state employee pension funds.
The introduction to this education is succinctly provided by Messrs. Broder and Healy (as previously cited), who report that since 2002 the California Public Employees Retirement System (CALPERS) has chosen to invest “$400 million [in Yucaipa funds] with an option to invest another $275 million.” The reason for this decision? “Calpers officials said they chose to invest with Yucaipa because it has a stellar track record and it invests in communities that have trouble attracting other investment capital.”
Now, the mix of a former President and a company that receives that kind of money from public pension funds is enough to make Americans reach for the word “obscene.” But when they read what Peter Schweitzer, writing in the NY Post, adds to the statements quoted above, they consider screaming that word: “The hundreds of millions flowing [into Yucaipa] from California retirement funds come courtesy of California Treasurer Phil Angelides, a longtime Clinton political ally.”
(To help confirm the aptness of Mr. Schweitzer’s use of the term “ally,” Americans can open the Phil Angelides For Governor website to see Mr. Angelides proudly receiving a hug from Senator Barbara Boxer, the Queen of American Clintonites.)
It is essential, however, that the public understand that the “discovery” of Yucaipa is not limited to California Democrats, a fact revealed when Mr. Schweitzer writes that New York State pension money is also flowing into the company because of the diligent efforts of Democrat “Carl McCall, then the comptroller of New York and thus the sole trustee of the New York State Common Retirement Fund, [who] began the ball rolling.”
The New York/Yucaipa connection becomes even more interesting (and more obscene) when Mr. Schweitzer informs us that Mr. McCall began shipping money to the Yucaipa Corporate Initiatives Fund “just as Sen. Hillary Clinton surprised many Democrats everywhere by endorsing his bid for governor.”
(After that “surprise” Democrat Andrew Cuomo dropped out of the primary race. Imagine all the time he has wasted in the years since trying to figure out why Mrs. Clinton would have pulled a trick like that out of her hat when all he had to do was think purse, purse, purse.)
With the fetid smell of political obscenity fouling the air, the education continues with a look at how well the funds Mr. Clinton advises have fulfilled their mission of investing to help “lower-income urban and rural communities.” With respect to that goal, Mr. Schweitzer (perhaps firmly holding his nose) explains that The Yucaipa Corporate Initiatives Fund “seems to have done anything but.”
Well, if the Fund has not been fulfilling its purpose, what has it been doing? According to Mr. Schweitzer, one thing it has done is to dump “millions into Al Gore’s new cable channel . . . headquartered in a tony neighborhood of San Francisco [and headed by] major investors [who are not only] white males [but also] a who’s who of major Democratic Party money people.”
With respect to this obscenity, it is safe to say that the American people will find it repugnant but not shocking. After all, they understand perfectly that for a select few politicians, obscenity and politics are joined at the heart and mind, a fact especially true of Mr. Clinton, who loved publicly lending his heart to an investment fund ostensibly dedicated to advancing the prospects of “lower-income” communities and then, far from the madding crowd of cameras and microphones, privately employing his mind to “advise” associates who, according to Mr. Schweitzer, have invested not only in Mr. Gore’s adventure but also in a clothing business run by Sean “Puffy” Combs, the “rap mogul” who is “a contributor to Hillary Clinton’s campaigns . . . [and] likely to play a prominent role in supporting a Hillary run for the White House in ‘08.”
Moving on from obscenities related to an ostensibly noble purpose, the syllabus next looks into the “stellar track record” achieved by a company that hired as an “adviser” a life-long politician turned financial guru (whose resume boasts that at a moment’s notice he can consult his former futures trader wife about a particularly difficult investment decision).
Here is what we learn. Mr. Schweitzer cites reports from CALSTARS (the California teacher pension system) to establish that it has already invested $61.9 million of the $150 million it promised to invest with Yucaipa. And the “stellar” return on this investment? Depicting Yucaipa more as a fee-sucking black hole than a shining star, Schweitzer tells us that as of “March 31, [2005], three years after the venture started [CALSTARS has] seen a grand total of $837 come back to them.”
(To put this return in its obscene perspective, we should note that a 1% return on $61.9 million is $619,000. A return of $837, then, constitutes a total return of .00135% or approximately .00045% a year for each of the three years.)
Turning to CALPERS, Mr. Schweitzer announces that this giant among public pension funds “has not done much better.” Not much better, indeed; for he points out that after “pouring more than $116 million into various Yucaipa ventures since 2002, [the system has] seen a return of $55,963.”
(Forget about investment gurus. Given a few minutes, sixth graders Beth and Carol will not only inform their classmates that over three years CALPERS earned a total of one-twentieth of one percent but also that had it placed $116 million into T-bills for thirty-six months, it would have earned its pensioners a minimum of $10 million, fully guaranteed. Then, as only sixth graders can, they will conclude with the following statement and question: “On the same amount of public retirement money invested, one fund adviser earns $55,963 and another $10 million. Which one is a star and which one a big, fat fake who ought to be so fired?”)
Mr. Schweitzer’s numbers clearly reveal that the “stellar” performance that the prudent pension fund managers had prudently hoped for did not materialize. But a thorough education requires some facts about Yucaipa’s performance for its own bottom line. As we might expect, investment advice doesn’t come cheap (regardless of its quality); for Mr. Schweitzer report that Yucaipa’s “fees for managing the pension funds amount to “$3 million a year from CALPERS and $3.5 million a year from the New York Common Retirement Fund.”
And what of the bottom line of Yucaipa’s celebrated “adviser”? With respect to this very, very interesting question, Mr. Schweitzer (and others) can report only that how much “ends up in Bill Clinton’s pocket is anybody’s guess. He’s not disclosing his fees.”
What’s this? The nation’s former Politician-in-Chief plies the phones for a lush investment farm (with muddy political waters running like a river right through it) to help the enterprise yield millions of dollars per acre per year and he doesn’t disclose his fees. Now, that’s obscenity that's obscene!
This education about how public pension money makes Mr. Clinton’s new job especially obscene concludes by asking the public to consider a question Mr. Schweitzer asks about Mrs. Clinton: “Why is Sen. Hillary Clinton, who appears to be so concerned about the state of our pension systems, silent about this?” And what an excellent question that is about the Senator from New York who has a (calculated) opinion about everything, unless the (daily) polls tell her otherwise or she suffers one of her (expediently recurring) bouts of memory loss.
(As the American people are left to ponder whether Mrs. Clinton’s silence adds another lump of obscenity to the pile already created by her husband’s association with Yucapia, they should know that in addition to concluding Part Three, Mr. Schweitzer’s question serves as a prologue to Part Four, which, in addition to analyzing other obscenities associated with Mr. Clinton’s new job, will examine the ugly lump mentioned above.)
Copyright by A.J. DiCintio
Copyright© MichNews.com. All Rights Reserved.
before about L.A.-based Yucaipa Companies, the investment group run by Democratic mega-contributor Ron Burkle. Some Yucaipa funds appear to receive their funding from CalPERS and other public pension funds based on party affiliation, not performance.
Yucaipa’s investments also have a political tinge to them, such as funding Al Gore’s cable channel (this from an investment pool that was sold as targeting “lower income urban and rural communities”).
Yesterday the New York Post’s Peter Schweizer looked at who controls the public pension fund money funding Yucaipa, and what they might hope to gain:
CALPERS, the huge California public-employee retirement fund, has agreed to commit $500 million to Yucaipa, and the California State Teachers Retirement System (CALSTRS) another $150 million.
… The hundreds of millions flowing from California retirement funds come courtesy of California Treasurer Phil Angelides, a longtime Clinton political ally. Now running for governor, his bio mentions his important role (as state California Democratic Party chairman) in electing Bill Clinton to the presidency. The banner photo across his Web site features him standing side-by-side with the ex-president.
Bill Clinton is an advisor to Yucaipa.
LegalAffairs.org tells us more about incestuous CalPERS investment:
… people at the firms that manage CalPERS’s investments contribute to the political campaigns of CalPERS board members. The coalition cited press reports that three funds managed by Yucaipa Companies, to which CalPERS has committed $450 million, were headed by Ron Burkle, who made campaign contributions to California Treasurer Phil Angelides, a member of the CalPERS board and a candidate for governor. Another CalPERS board member, former San Francisco mayor Willie Brown, worked directly for Burkle.
California’s public employees should ask whether their pension money is being invested with their long-term financial health in mind, or the short-term political health of Phil Angelides.
—
H/t: Powerline
* this and other sources note that two of CalPERS three Yucaipa investments have negative rates of return, but this is not meaningful in young funds. CalPERS reports its data here.
A great piece in SF Weekly on Yucaipa’s involvement with Al Gore’s cable network is here.
tags: angelides, contributions, yucaipa
Excerpts from Book Alleges Donors Sway Parties' Policies; Group Says Candidates Are Beholden
by John Mintz, Washington Post [01/06/00]
Six of the Democratic Party's top 10 donors in the last decade were labor unions at the same time the party was promoting labor's policy agenda while burying the issue of union corruption.