There are two kinds of private-equity folks. Evil Romneys, and Good Friends of Barak.
...Homeowner Schulte deserves special attention. If this deep-pocketed
donor and private-equity whiz were a Republican, the Occupy hordes and
left-wing super-PACs would have made him a household name by now. The
SEIU already would have picketed his private residence. Cher, Bette
Midler and Chris Rock would be tweeting furiously about this privileged
white robber baron in all caps.
Schulte, you see, earned his money in much the same way the demonized
Mitt Romney did: through corporate restructuring and rescuing
debt-burdened companies. He and his former partner, Sam Zell, have
happily embraced the nickname “grave dancers”
since the early 1990s. By 1993, their billion-dollar “vulture fund”
based in Chicago had purchased all or part of Jacor Communications, the
embattled media conglomerate; Sealy Corporation, the mattress empire;
and the distressed Schwinn Bicycle Company.
The duo also scooped up Santa Fe Energy Resources (an oil and gas company) through a partnership and refinanced
Revco D.S., the drugstore chain. Schulte called his financial
playground “the land of broken dreams,” according to the Los Angeles
Times, which described the partners as “bottom-fishing.”...
Nevermind. B Hussein's staying at his little Martha's Vineyard place later this summer.
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