Posted on 11/11/2011 5:56:56 PM PST by southernmomma
I am not sure of I am recalling this episode correctly, but wasn't Soros very upset about the deal falling through?
http://www.highbeam.com/doc/1G1-7293455.html
Fairchild responds to Carlyle and closes Soros repurchase and ESOP stock sale. (Fairchild Industries Inc.; employee stock ownership plan; George Soros; Harvey L. Karp; Carlyle Group)
The collection of influential characters who now work, have worked, or have invested in the group would make the most convinced conspiracy theorists incredulous. They include among others, John Major, former British Prime Minister; Fidel Ramos, former Philippines President; Park Tae Joon, former South Korean Prime Minister; Saudi Prince Al-Walid; Colin Powell, former Secretary of State; James Baker III, former Secretary of State; Caspar Weinberger, former Defense Secretary; Richard Darman, former White House Budget Director; the billionaire George Soros, and even some bin Laden family members. You can add Alice Albright, daughter of Madeleine Albright, former Secretary of State; Arthur Lewitt, former SEC head; William Kennard, former head of the FCC, to this list. Finally, add in the Europeans: Karl Otto Poehl, former Bundesbank president; the now-deceased Henri Martre, who was president of Aerospatiale; and Etienne Davignon, former president of the Belgian Generale Holding Company.
http://www.sourcewatch.org/index.php?title=Carlyle_Group
As the company’s reputation grew, so did its cast of players. Among its new backers were James Baker and Richard Darman (both Reagan and Bush administration alums) and investor George Soros, who chipped in some $100 million into the Carlyle Partners L.P. buyout fund.
An investor group may boost its stake in Fairchild.
BRIEFLY
March 09, 1987
The group, led by New York investor George Soros, said it was considering boosting its stake in Fairchild Industries Inc. to as much as 49.9% of the aerospace and aviation company’s outstanding stock. The group, which said it was dissatisfied with Fairchild’s management, already controls 1.65 million Fairchild shares, or 11.5% of the total outstanding. The group said it filed with federal antitrust regulators for clearance to buy enough additional shares to increase its total stake to up to 49.9%.
http://articles.latimes.com/1987-03-09/business/fi-8218_1_investor-group
BUSINESS PEOPLE Top Fund Manager Overcame ‘81 Loss
http://www.nytimes.com/1987/07/13/business/business-people-top-fund-manager-overcame-81-loss.html?pagewanted=print&src=pm
By Daniel F. Cuff
Published: July 13, 1987
George Soros, the New York investor who took a seat last week on the board of Fairchild Industries, the military contractor, is a superstar among money managers.
Mr. Soros, who is 56 years old, manages the Quantum Fund, which is based in the Netherlands Antilles and invests globally. Last year he made $90 million, the year before more than $100 million. He has his own money in the fund and also takes an annual management fee of 2 percent of the fund’s asset value.
Mr. Soros had been interested in taking control of Fairchild through the Quantum Fund but was persuaded not to pursue the acquisition when Fairchild pointed out that foreign ownership could endanger its security clearances and set back its lucrative military work. Quantum owns 11.4 percent of Fairchild’s stock.
Now Mr. Soros, who did not return telephone calls to his office, plans to invest $34 million in Fairchild to further a restructuring program intended to strengthen it financially and focus on its aerospace and military work. Fairchild is selling many of its other businesses, which range from commuter aircraft to doorknobs.
Mr. Soros has been called ‘’The World’s Greatest Money Manager’’ by Institutional Investor magazine, but he does not work round the clock at the business. He found time to write a book on his financial philosophies, ‘’The Alchemy of Finance,’’ published last month by Simon & Schuster. He also writes articles on finance and has testified before Congress on international debt.
His career has been exceptional, except for one bad year, 1981, when market reverses cost clients $80 million. He learned from the experience and rebounded, however.
Mr. Soros, who speaks five languages, grew up in Hungary, hid from the Nazis after Hungary’s alliance with Germany, and then, at age 17, made his way to Paris and later studied at the London School of Economics, arriving in New York in 1956.
He went to work on Wall Street, selling European securities and went into business in 1969 with James B. Rogers Jr., a Yale graduate from Alabama. Four years later they established Soros Fund Management, but Mr. Rogers left in 1981. He is now a private investor and a professor at the Columbia Business School.
I never knew Soros was such a mega huge weapons maker.
Thanks to all for the info. I may be wrong about this, but wasn’t there something said about him not being an American citizen? Was something said that he could not own a controlling interest in the company because of this and also because Fairchild Industries was a defense contractor? I know this man hates America. I am just trying to figure out when he started on his crusade to destroy our country.
Who would have thought the New York Times would have the answer? Second paragraph explains it. I just remember the uproar that went on about Fairchild Industries and with good reason. This must have put a big, big chip on his shoulder.
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