It might surprise you to know that, in spite of his somewhat difficulty history with President Trump’s Secretary of Regulation Annihilation, Dell founder, CEO and namesake Michael Dell sits on said president’s American Manufacturing Council. The tense of that sentence is intentional: Unlike Merck & Co. CEO Kenneth Frazier, Dell sees no reason why a little coddling of neo-Nazi white supremacists (or a little destroying the environment) means he shouldn’t be giving said president a helping hand.
While we wouldn’t comment on any member’s personal decision, there’s no change in Dell engaging with the Trump administration and governments around the world to share our perspective on policy issues that affect our company, customers and employees.
In fairness to Dell, no one else thought “on all sides” was enough of a reason to step down, either, including Dan Loeb bête noir Andrew Liveris (Paul Singer enemy Klaus Kleinfeld didn’t get an opportunity to take a moral stand on account of Singer’s clever strategy of provoking his foes into self-destruction). Or, for that matter, Steve Schwarzman, who's got 40 billion reasons to stand by his man.
Steve Schwarzman, the CEO of private equity giant Blackstone and leader of Trump's Strategic and Policy Forum, also condemned the events in Charlottesville and said he would remain as head of the Forum.
"Bigotry, hatred, and extremism are an affront to core American values and have no place in this country," Schwarzman's statement said. "I am deeply saddened and troubled by the tragic events in Charlottesville. My heartfelt condolences go out to the victims and their families. As the president said today, I believe we need to find a path to heal the wounds left by this tragedy and address its underlying causes. Encouraging tolerance and understanding must be a core national imperative and I will work to further that goal.
Here’s the thing, though: Craven and unprincipled as all of those people might be, only one of them is simultaneously supporting President Dog Whistle and betting against Derek Jeter. And that person is, of course, Michael Dell, who, unlike the president himself, is apparently not a Yankees fan.
Investment firm MSD Partners, founded by Michael Dell, wants to contribute $175 million in fnancing to a group led by Bruce Sherman and Derek Jeter to buy the Miami Marlins….
The preferred in this instance has a guaranteed "put" from MSD in three years, meaning the Marlins would have to pay the entire amount of the loan back at that time. If the new owners of the Marlins do not have the cash to pay MSD they must pay with equity in the Marlins.
It seems to me the Marlins could have trouble paying back that $175 million. Last in the National League in attendance this season, the Marlins are expected to lose about $80 million this year. Over the next three years the team, which already has some $400 million of debt, is expected to lose a total of $150 million.
Are there no depths to which these people will not sink?
Fund Founder By Michael Dell Wants To “Short” The Marlins And Jeter [Forbes]
Merck CEO resigns from Trump council over Charlottesville [Reuters]
Merck’s CEO left Trump’s manufacturing council over Charlottesville – here’s how the rest of the council responded [BI]