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☆ 'We Keep Electing Idiots': Liz Cheney thinks politics is broken and if the GOP nominates Trump again the party will crumble
▼ + stars: | 2023-06-27 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Liz Cheney said politics are so broken that 'we're electing idiots'The former congresswoman also argued the GOP will crumble if Trump becomes its 2024 nominee. Cheney made it clear that amid talk of a potential third-party bid, she has absolutely no interest in doing "anything that could help Donald Trump." A daughter of former Vice President Dick Cheney, the former congresswoman thinks the party of Lincoln will crumble if the GOP renominates Trump as its presidential nominee. "We're at a moment in our country where there is a tectonic shift going on in our politics," Liz Cheney said. "And, I think in particular if the Republican Party — I'm not sure if it is salvageable now — if the Republican Party nominates Donald Trump it will shatter and we will have a whole new politics, as we should."

Persons: Liz Cheney, Trump, —, Cheney, David Rubenstein, Parts Rubenstein, Donald Trump's, Donald Trump, Harriet Hageman, Kevin McCarthy, Trump's, Dick Cheney, GOP renominates Trump, Republican Party — I'm Organizations: Trump, Service, Republican, GOP, Republican Party Locations: New York, United States, Lincoln

☆ Discounted real estate debt 'the biggest opportunity over the next 2 or 3 years': David Rubenstein
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiscounted real estate debt 'the biggest opportunity over the next 2 or 3 years': David RubensteinDavid Rubenstein, The Carlyle Group co-founder and co-chairman, joins 'Squawk Box' to discuss the market trends, the Fed's rate hike campaign, commercial real estate, and more.

Persons: David Rubenstein David Rubenstein Organizations: The Carlyle Group

☆ David Rubenstein on China: Unrealistic to think you can 'decouple' the economic relationship
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDavid Rubenstein on China: Unrealistic to think you can 'decouple' the economic relationshipDavid Rubenstein, The Carlyle Group co-founder and co-chairman, joins 'Squawk Box' to discuss the Fed's rate hike campaign, commercial real estate, U.S.-China relations, and more.

Persons: David Rubenstein Organizations: The Carlyle Group Locations: China, U.S

☆ Watch CNBC’s full interview with The Carlyle Group’s David Rubenstein
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with The Carlyle Group’s David RubensteinDavid Rubenstein, The Carlyle Group co-founder and co-chairman, joins 'Squawk Box' to discuss the market trends, the Fed's rate hike campaign, commercial real estate, and more.

Persons: Carlyle Group’s David Rubenstein David Rubenstein Organizations: The Carlyle Group

☆ Going Bankrupt in the Name of Efficiency
▼ + stars: | 2023-06-21 | by ( Jennifer Szalai | ) www.nytimes.com time to read: +3 min

People in favor of private equity will say that the firms serve a crucial function, making troubled businesses more robust and efficient. “Roughly one in five large companies acquired through leveraged buyouts go bankrupt in a decade,” he writes. By 2017, after years of layoffs, crushing debt and being charged regular management fees by the private equity firms “for the privilege to be owned by them,” Ballou writes, Toys “R” Us was bankrupt. Private equity firms have acquired nursing homes, provided staffing for hospitals and services for prisons. And, of course, the cost-cutting measures typically imposed on acquired companies often include slashed wages and abandoned pension obligations.

Persons: Ballou, ”, ” Ballou, Morgenson, Rosner, David Rubenstein, HCR, we’re, ” Rubenstein Organizations: KKR, Bain, Vornado Realty Trust, Carlyle Group, ” Industries

☆ Trump classified documents case differs from Biden, Clinton, Pence issues — here's how
▼ + stars: | 2023-06-15 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +7 min

But what they don't say is that Trump is the only former official who refused to return all the classified documents as soon as he was asked about them. Lawyers for President Joe Biden discovered 10 classified documents in November of last year at an office he used in downtown Washington. Experts say the crucial difference is intent, namely what Trump allegedly did after he learned the National Archives wanted the classified documents he had back. The boxes, the lawyer and the ex-presidentThe DOJ's indictment includes photos of classified documents found at former President Donald Trump's Mar-A-Lago residence. Out of options, the archives referred the missing classified documents case to the Justice Department, which obtained a grand jury subpoena on May 11 for all remaining classified material held by Trump.

Persons: Donald Trump, Trump, Trump's, Clinton, Biden, Joe Biden, United Kingdom Rishi Sunak, Drew Angerer, Hillary Clinton, General Merrick Garland, it's, Mike Pence, Pence, Jon Sale, Donald Trump's Mar, Walt Nauta, Nelson Mullins, Bill Clinton, David Rubenstein, David Kelley, that's, Nauta, hadn't Organizations: WASHINGTON, White, Pence U.S, White House, Getty, State, FBI, Justice Department, National Archives, Justice, DOJ, Mar, Trump ., MSNBC, Bloomberg, Southern, of, PBS Locations: United Kingdom, Washington ,, Washington, Wilmington , Delaware, Pence, Miami, Florida, Mar, Sale, New York, Clinton, U.S, of New York

☆ Can Kim Kardashian save private equity?
▼ + stars: | 2023-06-06 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +3 min

SuperReturn conference gets underway at a time of challenges for private equity. Kim Kardashian joins Harvey Schwartz, Orlando Bravo, and other leaders in speaking at the conference. The uncertainty has made it more difficult for both private equity and venture capital firms to raise money for their funds. Those are bold-faced names in Wall Street's world, but they can't compete with the star power of another conference speaker: Kim Kardashian. It remains to be seen if private equity can keep up.

Persons: Kim Kardashian, Harvey Schwartz, Orlando Bravo, Kardashian, dealmaking, there's, Carlyle's Harvey Schwartz, David Rubenstein, Julian Salisbury, Goldman Sachs, Robert Smith, Orlando Bravo of Thoma, Bennett Goodman, Jay Sammons, Rubenstein, It's, Sammons, Dre Organizations: equity's, Private, SuperReturn International, Vista Equity Partners, Orlando Bravo of Thoma Bravo, SKKY Partners, Bloomberg, Financial Locations: Berlin

☆ Warren Buffett has more in common with quant traders than it seems, elite investor Cliff Asness says
▼ + stars: | 2023-05-31 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Warren Buffett has more in common with quantitative traders than it appears, Cliff Asness says. Buffett looks at companies' profits, risks, valuations, and many other elements of their businesses. "Yet he is very correlated with what quants would call the value factor, the low risk factor, and the profitability factor," Asness continued. Meanwhile, Buffett and other value investors look beyond those ratios to determine if a company is a bargain or not, he said. "That is not the holistic measure of value a guy like Warren Buffett, or any Graham-and-Dodd-style value investor, would look at," Asness said.

Persons: Warren Buffett, Cliff Asness, Buffett, —, David Rubenstein, Asness, It's, Graham, Dodd, quants, Read, Warren Organizations: Service, AQR Capital Management, Berkshire Hathaway, Bloomberg Locations: Berkshire

Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023. Citigroup said Wednesday it plans to pursue an initial public offering of its Mexico business, Banamex, scuttling a 16-month effort to find a buyer for the unit. The bank expects to complete the separation in the second half of 2024, with a public offering likely to follow in 2025, Citigroup said in a release. It hasn't yet decided on a listing destination, but a dual listing in Mexico and the U.S. is possible, a source familiar with the plans told CNBC. Plans to sell or IPO Banamex were disclosed in January 2022.

☆ The Fed would look ‘silly’ if it declares victory over inflation now, warns billionaire investor David Rubenstein
▼ + stars: | 2023-05-10 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

“It’s premature to have rate cuts this summer,” Rubenstein, the co-founder and co-chairman of The Carlyle Group, told CNN on Monday. The Fed will look silly if it declares victory at 4%,” said Rubenstein. But Wednesday’s inflation report is expected to show consumer prices are still rising at more than twice the Fed’s target. Despite pessimism on Wall Street and Main Street, Rubenstein said the US economy is “doing okay.”“This has been the most predicted recession in the history of recession predictions. “You could see the credit rating go down and interest rates go up,” said Rubenstein.

☆ Gallup poll: Americans have low confidence in Biden, Powell and Yellen on the economy
▼ + stars: | 2023-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Even with the unemployment rate tumbling to historic lows, nearly half (48%) of Americans say they have almost no confidence in Biden on the economy. Only 36% of Americans say they have confidence in Powell on the economy, a new low during Powell’s six-year tenure as Fed chief, while 28% say they have almost no confidence. The poll, taken April 3 to April 25, demonstrates how the anxiety caused by high inflation continues to overshadow the nation’s surprisingly strong job market. The economy added 253,000 jobs in April, dropping the unemployment rate to 3.4% — tied for the lowest since 1969. Gallup notes that confidence in leaders tends to rise and fall along with the fortunes of the economy.

☆ Warren Buffett gave Alex Rodriguez 2 pieces of investing advice when he signed his $252 million contract
▼ + stars: | 2023-05-05 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

When he was just 25 years old, baseball superstar Alex Rodriguez signed a 10-year, $252 million contract with the Texas Rangers. The deal not only set A-Rod up for life from a financial standpoint, it also helped him create a valuable relationship with legendary investor Warren Buffett. In an interview with Bloomberg's David Rubenstein this week, A-Rod said he decided to cold-call the investor — who is 45 years his senior — after learning that Berkshire Hathaway was insuring his contract. "I reached out to him and I said "Warren, now that we're business partners, maybe I can come out and see you in Omaha,'" Rodriguez explained. "I said 'I'll be there, 'cause we're not going to the playoffs,'" Rodriguez replied.

☆ Carlyle has a secret weapon for training its top leaders: a four-star Navy Admiral who led thousands of sailors into battle and captured cocaine-filled cartel submarines
▼ + stars: | 2023-04-27 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +12 min

James Stavridis, a retired Navy Admiral, is leading a new leadership program for Carlyle partners. Now, he's leading a new training course for the firm's partners called the Admiral Leadership Program. James Stavridis, a retired four-star Admiral, served in the Navy for 37 years before joining Carlyle in 2018. Inside Carlyle's first training program for partnersAbout 15 partners at Carlyle, from ESG to credit and tech, are participating in the Navy admiral's leadership program. Anna Tye, a partner on Carlyle's technology investing team, is also part of the leadership program.

☆ ‘Iconic America: Our Symbols and Stories With David Rubenstein’ Review: National Explorations on PBS
▼ + stars: | 2023-04-26 | by ( John Anderson | ) www.wsj.com time to read: +1 min

Fenway Park at sunrise Photo: Boston Red SoxDavid Rubenstein —business leader, Washington insider, mover, shaker and a philanthropist of considerable renown—is too smart to imagine himself an electrifying TV personality. As host of “Iconic America: Our Symbols and Stories With David Rubenstein,” he might best be described as endearingly colorless. Iconic America: Our Symbols and Stories With David Rubenstein Wednesday, 10 p.m., PBSAs explored in the eight-episode series, the subjects are not the big-ticket, big-budget Ken Burns -style thematic launch points—jazz, or the Old West or the Civil War. But each chapter does represent something about America that is under-explored and worth exploring, if only because it is so sorely taken for granted. Or Fenway Park, the focus of episode 1.

☆ It's clear we're unable to get unemployment as high as the Fed would like, says David Rubenstein
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's clear we're unable to get unemployment as high as the Fed would like, says David RubensteinDavid Rubenstein, The Carlyle Group co-founder and billionaire philanthropist, joins 'Squawk Box' to discuss his thoughts on the Fed, the banking crisis, and more.

☆ One year after the first rate hike, the Fed stands at policy crossroads
▼ + stars: | 2023-03-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

"That being said, given the fact the Fed has tightened as aggressively as they have, the economy is still very good." But recent days have shown the Fed has another problem on its hands besides inflation. watch nowBecause prices fall when rates go up, the Fed hikes have cut into the market value of those fixed income holdings. Rate hike expected"If you're waiting for inflation to go back to 2% and that's what's caused you to raise rates, you're making a mistake," said Joseph LaVorgna, chief economist at SMBC Nikko Securities. Since the rate increases started, depositors have pulled $464 billion from banks, according to Fed data.

☆ Billionaire David Rubenstein says the Fed will keep hiking in March to show it's still fighting inflation despite SVB collapse
▼ + stars: | 2023-03-15 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

The Fed is likely to keep raising interest rates after the collapse of SVB, David Rubenstein said. Markets see a potential pause in rate hikes after SVB was seized last week. For the March 21-22 meeting, the "big decision that has to be made by the Federal Reserve is do they increase interest rates by 50 basis points, 25 basis points, or no basis points?" But an increase of 50 basis points might be too much for some of the banking companies right now, he added. "So I suspect 25 basis points is the split-the-baby decision that's most likely," Rubenstein said.

While ostensibly focused on monetary policy, the questions tend to range across issues, and the sessions this week - the first since Republicans took control of the House after midterm elections - may be particularly wide in scope. Powell's last monetary policy report to Congress was in June, early in what became the most aggressive cycle of Fed rate increases since the 1980s. Fed rate hikes "are designed to harm the labor market. Despite some high-profile layoff announcements, weekly new jobless claims have remained below 200,000 for seven consecutive weeks, comparable to pre-pandemic levels. That ongoing strength has posed perhaps the key question for Powell to answer: Whether the impact of monetary policy is just delayed and on the way, or whether the current economy needs even tighter monetary policy, with all the risks that entails.

[1/2] U.S. Federal Reserve Chair Jerome Powell speaks to David Rubenstein (not pictured) during a meeting of The Economic Club of Washington, at the Renaissance Hotel in Washington, D.C., U.S., February 7, 2023. REUTERS/Amanda Andrade-Rhoades/File PhotoMarch 7 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. Arguably the main event in Asia will be the expected quarter point rate hike from the RBA, which would take the cash rate up to 3.60%. Tuesday's focus rests squarely on the first of two Congressional appearances this week from Powell. On the Asian data front, China's FX reserves for February could cast a light on whether Beijing is starting to reduce its huge holdings of dollar-denominated assets amid the sharp rise in U.S.-Chinese tensions.

☆ Watch CNBC's full interview with The Carlyle Group's David Rubenstein
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with The Carlyle Group's David RubensteinDavid Rubenstein, The Carlyle Group co-founder and billionaire philanthropist, joins 'Squawk on the Street' to discuss his macroeconomic outlook, finding value in stocks, inflation and his thoughts on private equity.

☆ The market finally recognizes inflation is not going away, says David Rubenstein
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market finally recognizes inflation is not going away, says David RubensteinDavid Rubenstein, The Carlyle Group co-founder and billionaire philanthropist, joins 'Squawk on the Street' to discuss his macroeconomic outlook, finding value in stocks, inflation and his thoughts on private equity.

☆ Billionaire investor David Rubenstein predicts stubborn inflation and warns recession fears can freeze markets. Here are his 6 best quotes from a new interview.
▼ + stars: | 2023-02-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The billionaire investor and Carlyle cofounder also forecast superior returns in private markets than public ones, and underlined the global growth opportunities for private equity. Trying to get to 2% and getting there quickly, you're going to almost certainly get a very high unemployment rate." "When you don't know if you're going into a recession or not, it tends to freeze markets. The largest part of the population of the world still has relatively modest penetration of private equity. (Rubenstein pointed to China, India, Latin America, Africa, and especially the Middle East as attractive growth markets for private equity.)

☆ Premarket stocks: Here's what keeps Jerome Powell up at night and interest rates high
▼ + stars: | 2023-02-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Structural changes in the labor market: The US economy added an astonishing 517,000 jobs in January, blowing economists’ expectations out of the water. “The labor market is extraordinarily strong,” he said. Core services inflation: Powell noted that he’s seeing disinflation in the goods sector and expects to soon see declining inflation in housing. Service-sector inflation, which is more sensitive to a strong labor market, is up 7.5% from the year prior through the end of 2022, and has not abated, he said. Tech layoffs, Big Oil and soft landings: What investors are watching▸ The labor market is strong, but tech layoffs keep coming.

"We didn't expect it to be this strong," Powell said, but it "shows why we think this will be a process that takes quite a bit of time." It has just confounded all sorts of attempts to predict," Powell said, noting that wage growth has slowed even with continued strong job gains. Officials raised the target interest rate a quarter point to a range between 4.5% and 4.75% at that session, and said in the latest policy statement that "ongoing increases" would be needed. 1 2 3 4 5As of December, the Fed's preferred measure of inflation was increasing at a 5% annual rate, still more than double the Fed's target. While Powell said he expected "significant declines in inflation" this year, the U.S. economy was still "in the beginning of getting that down."

☆ What Carlyle wants from incoming CEO Harvey Schwartz: Fix the firm's lagging stock price as it faces a sour market
▼ + stars: | 2023-02-07 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +4 min

The firm's interim CEO, Bill Conway, said Schwartz will be tasked with boosting the stock price. First of all, we want to increase the stock price," said William Conway, a Carlyle cofounder and interim CEO. Notably, he has the opportunity to make some $180 million over five years, depending on how well the firm's stock performs, according to a regulatory filing. The uncertainty that came with the firm's scramble to find a new leader has weighed on the firm's stock price. On Tuesday morning, Carlyle stock dropped 3% while the S&P 500 fell less than 1%.

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