Morning Money hears that at yesterday’s executive meeting, Blackstone chief Steve Schwarzman took a shot at former NEC Chair Larry Summers’ FT column calling for a number of actions to spur job growth, including expanding the payroll tax cut to employers. “I thought I was looking at a Saturday Night Live script,” Schwarzman said, according to our source. “Who was in charge the past two years?” [MM via BI]
Steve Schwarzman Doesn’t Want To Pay Higher Taxes Any More Than He Wants To Make The Medicine Medicine Go Down Without Mary Poppins’ Help (But He Knows He Has To)By Bess Levin
“We’re in a situation that’s serious enough that almost everyone in society is going to have to give something up. No one is going to like it- it’s going to be like medicine in the old days, that just tasted really bad, but if you didn’t take your medicine, you weren’t going to get healthy…Everyone in this society is going to end up bearing some burden except the very poor who need to be protected. But I think this is a widespread issue where everyone is going to be giving something up, and if you don’t, you’re not going to be able to solve the problems we have. Nine percent of GDP is over $1 trillion per year- that is piling up. It is not really as much of an abstract concept. The more we do this, eventually we reach a point where the country has great difficulty preserving the livelihoods for people as they know it. It is really an issue that must be addressed.” Read more »
Earlier this morning, Squawk on the Street had a little interview with Blackstone chief Stephen Schwarzman, live from Waldorf Astoria, where the Yale CEO Summit is taking place. The chat was conducted by Tyler Mathisen, with his colleagues patched in from the mothership in Englewood Cliffs. Everyone was very excited to have Steve-o on and things started off friendly enough. David Faber had a question about Dynegy. Erin Burnett wanted to know about investing opportunities abroad. And Mathisen and Schwarzman, whose firm owns the Waldorf, had a cute little repartee going about Steve delivering towels to Tyler’s room and leaving a mint on his pillow (given how game Schwarzman was to play along, and the diversity of the The ‘Stone’s companies, now might be a good time to nominate a certain someone as the next guest on Undercover Boss).
Then Mark Haines had something to say. Read more »
When one considers the many, many reasons to admire Stephen Schwarzman, difficulty arises in keeping the list to a manageable length. An abridged version, a mere fraction of his attributes, would include building Blackstone with own two hands, his support of literacy, his vision and execution in creating Yale’s first Ballet Society, his passion as it relates to the carried interest debate, on which he is not afraid to speak his mind, and his undying commitment to do right by clients.
Today another bullet point must be added, with regard to this: Read more »
President Obama and the business community have been at odds for months. But in July the chairman and cofounder of the Blackstone Group, one of the world’s largest private-equity firms, amped up the rhetoric. Stephen Schwarzman—the leading John McCain supporter in a firm that, in 2008, gave more money to Obama—was addressing board members of a nonprofit organization when he let loose. “It’s a war,” Schwarzman said of the struggle with the administration over increasing taxes on private-equity firms. “It’s like when Hitler invaded Poland in 1939.” [Newsweek]
Charlie Gasparino recently participated in one of New York‘s dining features wherein notable people discuss what they ate over the course of the week. Those of you in the know re: the fuel that makes this Jabroni Pony will run not be surprised to hear that he consumed many a vodka martini, doused his meat in ketchup and affirmed his commitment to “staying regular” by downing a bunch of bran muffins. Unlike his last food diary, in which Gaspo confessed to finding no greater joy in the world that tearing into a plate of braciola while on the can, the Fox Business anchor kept it mostly clean, while sharing a few tips. Such as how to make gravy from scratch (“good Italian canned tomatoes, two cans of the whole tomatoes and one of crushed. I let it cook for about an hour and fifteen minutes, maybe an hour and a half”), indulging while keeping yourself in centerfold form (“I only eat desserts on the weekends”) and drinking like a man (“no respectable Russian will drink Grey Goose, they all drink Ketel One, because you want to taste the vodka. Now I can’t go back to Grey Goose, which is really super smooth, you can’t taste the vodka. If you’re gonna drink it, you gotta make it real”). Read more »
In January, Kendrick Wilson III joined BlackRock as a vice-chairman, which is why he’s the subject of a Bloomberg profile today. Forty some odd years ago, he was nicknamed “Wildcat” by his undergrad chums at Dartmouth, which is why he’s the basis for the lead character in an upcoming erotic novel about life in the Ivies. And 16 or so years ago, he was the peacemaker in a “shouting match” between Larry Fink and Stephen Schwarzman, which is what we’re going to investigate right now. Read more »
By now you’ve probably heard about the killer whale, Tilikum, that savagely murdered an SeaWorld employee today in front of a packed audience (according to a guest, the trainer was “thrashed around pretty good” and at one point, one of her shoes flew off). A devastating tragedy, and something that perhaps calls for an avenging. By whom? Stephen Schwarzman, ’cause Blackstone owns SeaWorld.
In 2007, birthday boy Stephen Schwarzman celebrated with a party that cost $1 trillion and included John Thain, Maria Bartiromo, Vernon Jordan, Bill Clinton, Rod Stewart and Patti LaBelle singing “Happy B’Day.” He’s scaled it back in the years since, preferring the simplicity of quiet celebrations at home, just him, wife Christine and the crabs. Sixty-three was set to be more of the same, with a quick bite to eat followed by a 7:30 showing of Valentine’s Day, the only trappings of diva-ness being SS’s plan to send a fleet of assistants several hours prior to rope off a couple of sections with caution tape to prevent the riff-raff from interrupting his viewing enjoyment. That was, until Haiti called. And when Haiti comes a’ knock’in, Steve Schwarzman answers. Rom-com, canceled. Dinner at the Sizzler, out. Lunch at home, in. Charity tennis match with John McEnroe et al, and the opportunity for Stephen “The Third Williams Sister” Schwarzman to help the earthquake victims while showing the “Adonis Effect” in action? So very in.