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Freescale acquired for US$18 billion

Freescale Semiconductor was recently acquired by a private equity consortium made up of the Blackstone Group, The Carlyle Group, Permira Funds, and Texas Pacific Group.

Freescale Semiconductor (NYSE:FSL) has confirmed that 20 of its employees were confirmed passengers on Malaysia Airlines Flight MH370 en route from Kuala Lumpur to Beijing. Twelve are from Malaysia and eight are from China. The entire Freescale Semiconductor community is deeply saddened by this news. The company is continuing to monitor the situation and will provide more information as it becomes available.

The biggest private investor in the world, deeply entrenched in the weapons’ sector, is a discreet group that cultivates dealings with influential men, including Bush father and son.

One year ago, May 1, 2003, George Bush, strapped up in a fighter pilot’s suit, landed on the deck of the aircraft carrier USS Abraham-Lincoln along the coast of California. The image became famous. Under a banner proclaiming “Mission Accomplished”, the president prematurely announced the end of military operations in Iraq and his victory. Back on dry land the next day, he made another martial speech, not far from San Diego, in a United Defense Industries’ weapons factory.

This company is one of the Pentagon’s main suppliers. It manufactures, among other things, missiles, transport vehicles, and the light Bradley armored vehicle. Its main shareholder is the biggest private investor in the world, a discreet group, called Carlyle.

It’s not listed on the stock market and doesn’t have to show its accounts to any but its 550 investors- billionaires or pension funds. Carlyle manages eighteen billion dollars today, invested in defense and high tech (notably biotech), space, security-linked information technology, nanotechnologies, and telecommunications. The companies it controls share the characteristic that their main customers are governments and administrations. As the company wrote in its brochure: “We invest in the opportunities created in industries strongly affected by changes in government policy.”

Carlyle is a unique model, assembled at the planetary level on the capitalism of relationships or “capitalism of access” to use the 1993 expression of the American magazine New Republic. Today, in spite of its denials, the group incarnates the “military-industrial complex” against which Republican President Dwight Eisenhower warned the American people when he left office in 1961.

That didn’t prevent George Bush senior from occupying a position as consultant to Carlyle for the ten years ending October 2003. It was the first time in United States’ history that a former president worked for a Pentagon supplier. His son, George W. Bush, also knows Carlyle well. The group found him a job in February 1990, while his father occupied the White House: administrator for Caterair, a Texas company specialized in aerial catering. The episode does not figure in the president’s official biography. When George W. Bush left Caterair in 1994, before becoming Governor of Texas, the company was in bad shape.

“It’s not possible to get closer to the administration than Carlyle is,” asserts Charles Lewis, Director of the Center for Public Integrity, a non-partisan organization in Washington. “George Bush senior earned money from private interests that worked for the government of which his son was president. You could even say that the president could one day profit financially, through his father’s investments, from the political decisions he himself took,” he adds.

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, the present 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.culturechange.org/CarlyleEmpire.html