The Stonecutters controlled all.
Posted on 03/14/2006 1:21:16 PM PST by Mike Darancette
Private equity firm The Carlyle Group established a team to acquire public-purpose facilities such as ports a day after a United Arab Emirates company said it would transfer newly acquired operations at American ports to a U.S. organization.
Washington, D.C.-based Carlyle Group announced an eight-person team would invest in public-purpose infrastructure projects such as ports, transportation and water facilities, airports, bridges and stadiums. The team will begin work March 13.
The new infrastructure team had been planned for six months, but the Carlyle Group decided Thursday to launch it.
DP World, a company owned by the United Arab Emirates, acquired a British company that manages operations at six U.S. ports, but the House Appropriations Committee voted 62-2 on March 8 to prevent it from taking control of the ports.
DP World will transfer the operations to a "U.S. entity," Sen. John Warner, R-Va., said Thursday.
The Carlyle Group, however, doesn't want to be that entity, says spokesman Chris Ullman. "We have zero interest in that deal, and we will continue to have no interest."
Rep. Duncan Hunter, R-Calif., and others in Congress are considering legislation that would block any foreign company from operating ports and other key U.S. infrastructure. If that legislation is approved, it could give The Carlyle Group and other private equity firms opportunities to buy foreign-owned operations at a discount.
The new public infrastructure investment group is co-headed by Robert Dove, former executive vice president at Bechtel Enterprises, and Barry Gold, former managing director and co-head of the structured finance group at Citigroup/Salomon Smith Barney.
"We are at a crossroads of the right market, right private equity firm and right team with complementary skills and experience," Gold says in a statement. "As a U.S. firm with exceptional experience in government contracting, Carlyle is now well positioned to invest in U.S. and other infrastructure either alone or as part of a consortium."
Carlyle's infrastructure team will invest primarily in U.S. infrastructure in transactions ranging from $100 million to more than $1 billion. It will enter into public-private partnerships with federal, state and local governments by purchasing projects outright or through long-term concessions.
this ought to get the conspiracy folks churning.
Anybody know anything about the Carlyle group?
Isn't that basically one of those hooked up old rich guys "clubs" - so to speak?
I'm thinkin' this is just a work around to avoid the furror.
It'll be fun to watch the DUmmy's heads exploding over this news
Oh yes, these guys are mostly Ex CEOs and Government types. Many Neocons, LOL.
The Carlyle group are just investors. They won't run the ports, but they will finance anybody else running the ports (like Bechtel, or Haliburton).
FWIW: Wikipedia says;
Carlyle Group is a Washington, D.C. based global private equity investment firm with more than $30 billion of equity capital in 2005. This large pool of money belongs to just 800 individuals from all over the world, making an average contribution of approximately $37.5 million. The firm employs more than 300 investment professionals in 14 countries with multiple offices in North America, Europe and Asia. It boasts of having on its staff, 138 MBAs, 24 JDs and 14 Ph.D/MDs from many of the world’s most prestigious universities. The firm operates four fund families, focusing on leveraged buyouts, venture capital, real estate and high-yield investments.
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Many members from different administrations including both Bush's
But they will make big bucks.
Of course. My bet (and hope) is that Haliburton will take over the ports. The LIBs will eat their young over that, and besides, Dick Cheney will need a job in 3 years. LOL
"Many members from different administrations including both Bush's"
That's what I thought I'd heard: an "old boys" club for the wealthy and powerful.
If I had my roll of tin foil handy, I'd mention that its just the kind of group that actually "runs the world" so to speak.
If money talks these guys scream. What was the name of the lodge that Homer Simpson joined?
I didn't see that one...
The Stonecutters controlled all.
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