Posted on 04/23/2006 10:18:46 AM PDT by wagglebee
Ex-president Bill Clinton stands to reap "tens of millions of dollars" in personal income from his job as an advisor to Yucaipa Companies, a California private equity firm controlled by one of his best friends and biggest political donors, billionaire Ron Burkle.
The New York Times reports Sunday that the sweetheart deal comes "without great effort and at virtually no risk" for the former president.
"He has put up little of his own money and has no day-to-day responsibilities over how the more than $1 billion in the funds is invested," the paper said.
Mr. Burkle, who built his financial empire by operating supermarkets in Los Angeles, tells the Times that Mr. Clinton's role is to help find investment opportunities for Yucaipa projects.
"He explains to people better than we can why these are good things to invest in," the former bag boy billionaire told the paper Thursday night, while sitting in Mr. Clinton's Harlem office. "If we make money, he makes money."
Though the supermarket magnet declined to offer specifics about Mr. Clinton's jackpot, the Times said that based on Yucaipa's track record, it could reach "into the tens of millions of dollars."
Clinton himself declined to be interviewed about the lucrative arrangement.
But in a 2003 speech he explained that Yucaipa had "earned a phenomenal return investing in three things I care about: in underserved communities, in underperforming companies that are friendly to their workers and their families, and in minority-owned businesses."
Also, will state the obvious. How "special" that BJ is the first Ex-President to make a spectacle of increasing his wealth as his major work after leaving office.
It think it was the Page Six columnist that was extorting money from Burkle. In any case, the Page Six guy is going to prison and Burkle is not.
Nah, if he has a wife somewhere he doesn't have to commit to anyone else...it's just about living in the moment. I can't see him giving up his chance to live in the White House again and Hillary seems to be his best shot at that.
Well, there must be some REALLY bad dirt on Burkle if he's willing to be bribed!!
Not bad enough to cooperate with law enforcement, including wearing a wire, or so I've heard.
This ain't nothing compared to what Tom DeLay did < /MSM hypocrites >
It's typical Old Gray Whore stuff about how BJ is probably going to save the world.
http://www.nytimes.com/2006/04/23/nyregion/23burkle.html?hp&ex=1145851200&en=71526030d8e5f8f8&ei=5094&partner=homepage
I feel you may have stumbled upon something. In ten ears FCC standards will be lowered and sex toys will be advertised on the tube.
"Recent transactions: invested $100 million in Sean (P. Diddy) Combs' Sean John clothing line;"
Am I so unhip that this idea sounds like throwing money away?
"Though the supermarket magnet declined to offer specifics about Mr. Clinton's jackpot..."
That magnet should be magnate; how magnificent these graduate journalists.
Someone told Bubba that in California you can find a "good beech". "I have one already. She's in Washington", he replied.
Attn NewsMax writers:
Though the supermarket magnate declined to offer specifics about Mr. Clinton's jackpot...
****
What ......... did Willie get back with his old sweetheart, Dolly Kyle Browning?
A poor pervert or a rich pervert is still a stinking pervert!!!
Maybe he can do business from a jail cell where he really belongs.
I saw the same thing, but this is Newsmax and I doubt there are very many journalism graduates there.
Wouldn't that be something if nobody invested because of business partner, Bill Clinton. I sure wouldn't want to get involved in an investment deal with him. He has already shown his greedy and crooked side.
Now, I suppose we will see stories about how wonderful he is and how he made money for lots of the little people all the while he is screwing them out their hard earned money.
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