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How a Billionaire Friend of Bill Helps Him Do Good, and Well (Ron Burkle and Yucaipa Companies)
NY Times ^ | 4/22/06 | John M. Broder and Patrick Healy

Posted on 04/22/2006 10:30:06 PM PDT by NormsRevenge

After leaving the White House in 2001, former President Bill Clinton was inundated with business and job offers, from investment-bank partnerships to seats on corporate boards. He turned them all down, with one exception: He agreed to be an adviser to a family of funds run by the Yucaipa Companies, a California private equity firm controlled by one of his best friends, the billionaire Ronald W. Burkle.

Mr. Clinton's arrangement with Mr. Burkle is an unusual one for a former president, giving him the potential to make tens of millions of dollars without great effort and at virtually no risk, according to Mr. Burkle and advisers to Mr. Clinton.

Mr. Clinton's role is to help find investment opportunities for Yucaipa projects, give credibility to the funds and champion their mission of investing in poor areas to corporate executives, union leaders and others. But 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.

--snip--

The relationship brings together two outsize personalities who rose from modest beginnings to inhabit the glamorous heights of the political and financial worlds. The chubby young boy from Hope, Ark., and the grocery bag boy from Yucaipa, Calif., are now joined in a partnership that commands audiences of heads of state, business potentates and movie stars wherever they go in Mr. Burkle's Boeing 757.

It is a bond that is drawing news media attention, too, because of Mr. Burkle's allegations that a contributor to The New York Post, Jared Paul Stern, tried to extort $220,000 from him in exchange for keeping false stories about him out of the Post's gossip column, called Page Six.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Crime/Corruption; Politics/Elections; US: California
KEYWORDS: billclinton; billionaire; billionaires; burkle; california; clinton; fob; freeloader; friend; johnbroder; mediabias; nyt; patrickhealy; ronburkle; wjc; x42; yucaipa; yucaipacompanies

1 posted on 04/22/2006 10:30:09 PM PDT by NormsRevenge
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To: NormsRevenge

didn't see this posted.


2 posted on 04/22/2006 10:31:52 PM PDT by NormsRevenge (Semper Fi)
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To: NormsRevenge

Go to Slate's Mickey Kaus to see what an utter crock this is.


3 posted on 04/22/2006 10:40:27 PM PDT by the Real fifi
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FRom the New York Observer

The Complete Ron Burkle
http://thedailytransom.observer.com/2006/04/the-complete-ron-burkle.html


4 posted on 04/22/2006 10:43:38 PM PDT by NormsRevenge (Semper Fi)
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To: the Real fifi

Go to Slate's Mickey Kaus to see what an utter crock this is.

Here?


http://www.slate.com/id/2139592/


5 posted on 04/22/2006 10:45:57 PM PDT by NormsRevenge (Semper Fi)
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To: NormsRevenge
The two men first met when Mr. Clinton was running for president in 1992 and touring neighborhoods in Los Angeles that had been torched during riots after the acquittal of several police officers charged with beating Rodney King. Mr. Clinton noticed that some supermarkets were still open, and asked why, his aides recalled. He was told that those stores were not burned because the owner, Mr. Burkle, treated his customers and employees fairly. Mr. Clinton asked to meet him.

Protection racket?

A meeting was quickly set up at the Burbank airport with Mr. Burkle, then a registered Republican, who ran an empire of California supermarkets. The two men drove to a political event, then kept talking in the car for 45 minutes. Mr. Burkle said he came away in awe; he cast his first vote for a Democrat, Mr. Clinton, that fall.

Where do they get this stuff? According to the FEC, that good "Republican" was giving to Feinstein, Gray Davis, Leo McCarthy and other dems before he started giving to Clinton.

6 posted on 04/22/2006 10:48:56 PM PDT by calcowgirl
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To: NormsRevenge
I found the Observer's articles very informative. For example:
In 1986, he co-founded The Yucaipa Companies, a private investment firm. Thanks in part to Michael Milken's junk bonds, he was able to start buying supermarket chains such as Food 4 Less, Fred Meyer and Ralph's. He converted Ralph's into one of the most popular grocery stores in Southern California. In 1998, he sold his holdings to the Kroger Company, making billions in the deal. In 2000, according to The New York Times, he attempted to repay Mr. Milken for his early help by lobbying President Clinton to grant Mr. Milken a pardon. His efforts were unsuccessful.

7 posted on 04/22/2006 10:50:41 PM PDT by calcowgirl
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To: NormsRevenge
giving him the potential to make tens of millions of dollars without great effort

Has Clinton ever earned an honest dollar in his life?

8 posted on 04/22/2006 10:53:12 PM PDT by Kenny Bunkport
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To: NormsRevenge; the Real fifi

I think they mean this one:

http://www.slate.com/id/2140131/

Burn, Burkle, Burn!
Did the NYT get scammed by a PR-worthy anecdote?
By Mickey Kaus
Updated Saturday, April 22, 2006, at 8:14 PM ET


9 posted on 04/22/2006 10:53:25 PM PDT by calcowgirl
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To: calcowgirl

Thanks!


10 posted on 04/22/2006 10:55:12 PM PDT by NormsRevenge (Semper Fi)
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To: calcowgirl

"Where do they get this stuff? According to the FEC, that good "Republican" was giving to Feinstein, Gray Davis, Leo McCarthy and other dems before he started giving to Clinton."

Most big businesses, their owners and executives give to BOTH parties' candidates. That way regardless of who wins, they have paid the entry fee to get their voices heard.

If you didn't know this, you are politically naive. No offense intended.

The "business" is essentially non-partisan and non-idealogical. It is pragmatic, hoping to better their own/its own self-interest.

I guess you missed the Republicans caught up in lobbying scandal recently. And of course the democrats are just as bad, probably worse.


11 posted on 04/22/2006 11:07:46 PM PDT by truth_seeker
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To: NormsRevenge
Taking off on Klaus's theme, it is amazing how inaccurate the NYT article is. How about this snip:
Food 4 Less had a loss of $33.8 million
Andre Mouchard: The Orange County Register.
Oct 22, 1992. pg. d.01

(Snip)

In its SEC filing, Food 4 Less didn't break out results for the fourth quarter, when 44 company-owned stores were damaged or destroyed by rioting in Los Angeles County.

Food 4 Less lent a hand in riot recovery
Russ Stanton: The Orange County Register
Jun 14, 1992. pg. k.07

Ronald Burkle was attending a business meeting April 29 at a Los Angeles hotel when word came that a Simi Valley jury had acquitted four Los Angeles police officers in the beating of Rodney King.

The meeting adjourned for a few moments so participants could check the television news. Burkle -- like the rest of the world _ found himself watching in disbelief as the resulting anger turned into mayhem, then to all-out rioting.

"It was very depressing to watch our stores being destroyed, and it was very easy to get upset," he recalled a few weeks after the riots.


12 posted on 04/22/2006 11:12:40 PM PDT by calcowgirl
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To: NormsRevenge
Mr. Clinton's arrangement with Mr. Burkle is an unusual one for a former president...

Nothing is unusual or beneath the Human Stain.

13 posted on 04/22/2006 11:14:30 PM PDT by American in Singapore (Liberals: Their ignorance and stupidity is becoming dangerous)
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To: truth_seeker
Most big businesses, their owners and executives give to BOTH parties' candidates. That way regardless of who wins, they have paid the entry fee to get their voices heard.

Burkle wasn't giving to both parties at the time, except for a couple congressman (Jerry Lewis in 1984 and 1990, Bob Hammock in 1990 and 1992, and Charles Bader in 1992). He definitely was supporting the Democrats for California government. Through 1992, he gave a total of $11,000 to Republicans and $78,000 to Democrats. From there on out, it was strictly Democrat, except a token amount to Pete Wilson for President and David Dreier.

If you didn't know this, you are politically naive. No offense intended.

ROFL! Whatever! Check the dang filings yourself. They hardly represent balanced giving, especially for a so-called Republican.

The "business" is essentially non-partisan and non-idealogical. It is pragmatic, hoping to better their own/its own self-interest.

The "business" was not the one giving the donations; these were contributions from an individual, specifically one Ronald W. Burkle. His "business" was a public company and any donations would be reported separately. If you don't know this, you are sorely misinformed. No offense intended.

I guess you missed the Republicans caught up in lobbying scandal recently. And of course the democrats are just as bad, probably worse.

I oppose sleazy operators, no matter the party. And why are you here on a conservative forum defending one of the scummiest guys around?

14 posted on 04/22/2006 11:23:53 PM PDT by calcowgirl
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To: NormsRevenge
Mr. Burkle's spokesman dismissed allegations that he used his influence to get Mr. Jackson his job.

"Mr. Burkle would be proud if that were the case," Michael Sitrick, the spokesman, wrote in an e-mail. "Mr. Jackson is a good friend and has a great track record. Mr. Jackson met Mr. Busch at Mr. Burkle's house. A year later, Mr. Jackson purchased a distributorship in Chicago. He bought one of the worst performing distributorships and turned it around. Mr. Burkle would be proud to invest with Mr. Jackson but has never had the opportunity to do so."

You'd have to work real hard to lose money selling Budweiser. These distributorships should be licensed by the Treasury Dept. because they make so much money. Another Jackson shakedown.

15 posted on 04/22/2006 11:25:57 PM PDT by thegreatbeast (Quid lucrum istic mihi est?)
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To: thegreatbeast

What time period was that and what is the source of the snip? In looking at some old articles on the L.A. Riots, it looks like Burkle hooked up with the LA's African Methodist Episcopal Church (May 1992). I'm wondering if that is also when he hooked up with Jesse.


16 posted on 04/22/2006 11:33:37 PM PDT by calcowgirl
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To: NormsRevenge

This story was written by a NY Times reporter who obviously feels his true calling was writting scripts for hollywood.


17 posted on 04/22/2006 11:39:01 PM PDT by Proud_USA_Republican (We're going to take things away from you on behalf of the common good. - Hillary Clinton)
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To: calcowgirl
Not clear about what you're asking but the distributorship matter was covered in the Shakedown book of a couple years ago, a real takedown of the reverend.
18 posted on 04/23/2006 12:00:44 AM PDT by thegreatbeast (Quid lucrum istic mihi est?)
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To: Mo1; Grampa Dave

Burkle ping


19 posted on 04/23/2006 12:04:06 AM PDT by onyx (MARY MC CHRISTMAS everybody!)
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To: calcowgirl

"And why are you here on a conservative forum defending one of the scummiest guys around?"

Not defending him. Merely pointing out what I pointed out.

Said nothing about "balanced" giving, either.

Like you, I oppose sleazy operators from any party. I have watched quite a few, from local on up.

Being corruptable is almost a pre-requisite for politics.


20 posted on 04/23/2006 12:23:45 AM PDT by truth_seeker
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To: NormsRevenge

The Observer has totally busted Burkle on the Jared Paul Smith thing. OK, so they're both creeps!


21 posted on 04/23/2006 12:26:29 AM PDT by BunnySlippers
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To: truth_seeker

Okay. peace.

The article in this thread talked about how Burkle had always been a loyal Republican and never before voted for a Democrat. I find that hard to believe. Did he give money to Leo McCarthy and then vote for his opponent? Same for Gray Davis and Feinstein? It defies credibility. That was all I was really trying to say in my original post.


22 posted on 04/23/2006 12:29:30 AM PDT by calcowgirl
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To: BunnySlippers

sadly, I'm of the opinion there are truly not that mnay 'innocents' around these days, either in the media, gubamint or business.

Many have outright become creeps and are not reluctant to show it.


23 posted on 04/23/2006 12:31:31 AM PDT by NormsRevenge (Semper Fi)
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To: calcowgirl

Burkle hired Jesse Jackson's mistress after she had his kid.

Burkle is in the news trying to out the NY Post and Jared Paul Stern. Although he MAY have something there.


24 posted on 04/23/2006 12:31:56 AM PDT by BunnySlippers
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To: NormsRevenge

Yet, where it originally looked like Stern was the bad guy ... it later
(and now) looks like Burkle was setting him up.


25 posted on 04/23/2006 12:33:31 AM PDT by BunnySlippers
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To: BunnySlippers

here's hoping them that needs and deserves it, whatever it IS , get it and in great abundance..


26 posted on 04/23/2006 12:35:58 AM PDT by NormsRevenge (Semper Fi)
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To: NormsRevenge

I cannot believe how many calories there are in chocolate!


27 posted on 04/23/2006 12:39:24 AM PDT by BunnySlippers
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To: thegreatbeast
Thanks for the reference. I looked it up in Shakedown. Jackson Jr. hooked up with Busch at a meeting in 1996 (after the time period I was looking for).
28 posted on 04/23/2006 1:42:38 AM PDT by calcowgirl
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To: NormsRevenge
Isn't Ron Burkle the guy involved with the NYP's Page Six scandal?
29 posted on 04/23/2006 5:05:06 AM PDT by mewzilla (Property must be secured or liberty cannot exist. John Adams)
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To: NormsRevenge

This nothing but a puff piece for Clinton and Burkle. The MSM makes me sick. I can hardly take the hypocrisy.


30 posted on 04/23/2006 8:16:52 AM PDT by Uncle Hal
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To: NormsRevenge

There's one truth in this article.. the Clintons have the potential to make hundreds of millions off their involvement in the Yucaipa funds when these funds begin to terminate (private equity funds typically have a 5-7 year period between investment and payout.) As somebody that works in finance, let me tell everybody that Yucaipa is the real deal in private equity. This is going to make Hillary's cattle trading look like pocket change.

Now... let's think about it some more.. what kind of damage on our society can Bill and Hillary accomplish with a billion dollars or so?


31 posted on 04/23/2006 4:37:31 PM PDT by nj26
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