General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBehind the Curtain: Booz Allen Hamilton and its Owner, The Carlyle Group
According to writers Thomas Heath and Marjorie Censer at the Washington Post, The Carlyle Group and its errant child, Booz Allen Hamilton (BAH), have a public relations problem, thanks to NSA leaker and former BAH employee Edward Snowden. By the time top management at BAH learned that one of their top level agents had gone rogue, and terminated his employment, it was too late.
For years Carlyle had, according to the Post, nurtured a reputation as a financially sophisticated asset manager that buys and sells everything from railroads to oil refineries; but now the light from the Snowden revelations has revealed nothing more than two companies, parent and child, bound by the thread of turning government secrets into profits.
And have they ever. When The Carlyle Group bought BAH back in 2008, it was totally dependent upon government contracts in the fields of information technology (IT) and systems engineering for its bread and butter. But there wasn't much butter: After two years the companys gross revenues were $5.1 billion but net profits were a minuscule $25 million, close to a rounding error on the companys financial statement. In 2012, however, BAH grossed $5.8 billion and showed earnings of $219 million, nearly a nine-fold increase in net revenues and a nice gain in value for Carlyle.
Unwittingly, the Post authors exposed the real reason for the jump in profitability: close ties and interconnected relationships between top people at Carlyle and BAH, and the agencies with which they are working. The authors quoted George Price, an equity analyst at BB&T Capital: "[Booz Allen has] got a great brand, they've focused over time on hiring top people, including bringing on people who have a lot of senior government experience." (Emphasis added.)
http://www.thenewamerican.com/usnews/crime/item/15696-behind-the-curtain-booz-allen-hamilton-and-its-owner-the-carlyle-group
russspeakeasy
(6,539 posts)Berlum
(7,044 posts)Generic Other
(28,979 posts)They didn't make that money from defending the Constitution, that's for sure!
dixiegrrrrl
(60,010 posts)( Note esp. Dove Zakheim....One of the original members of PNAC, pals with Wolfowitz and Feith and Rumsfeld)
Wendy Alexander Labour Party Leader and Member of the Scottish Parliament (MSP)
Thad Allen former Coast Guard Admiral Commandant of the United States Coast Guard
His reward for keeping reporters away from BP Gulf disaster.
Miles Axe Copeland, Jr. a prominent U.S. Central Intelligence Agency (CIA) operative who was one of the
founding members of the Office of Strategic Services (OSS) under William Donovan.
Karol Joseph "Bo" Bobko Retired United States Air Force officer and a former USAF and NASA astronaut.
James R. Clapper Director of National Intelligence, formally Undersecretary of Defense for Intelligence,
Director of the National Geospatial-Intelligence Agency, Director of the Defense Intelligence
Agency, and Lieutenant General in the US Air Force
Keith R. Hall Director, National Reconnaissance Office (19972001); formerly Executive Director for
Intelligence Community Affairs
Steve Isakowitz Department of Energy Chief Financial Officer. Former Deputy Associate Administrator, NASA,
20022005
William Benjamin "Bill" Lenoir (Ph.D.) Former NASA astronaut.
George E. Little Media Relations, Central Intelligence Agency (2007)
John M. McConnell Director of National Intelligence (20072009); formerly Director of the National Security
Agency (199296); retired in 1996 as Vice Admiral, United States Navy
Todd Park- current Chief Technology Officer of the United States and former CTO of the Department
of Health and Human Services
Michael C. Mullen Assistant Commissioner, U.S. Customs and Border Protection
Patrick Gorman Chief Information Officer (CIO), and Assistant Deputy Director National Intelligence
Strategy, Plans, and Policy, ODNI
Andrew Turnbull Member, House of Lords (upper Parliament), United Kingdom (2005);
Head of British Civil Service (20022005)
Melissa Hathaway Director, National Cyber Security Initiative
General Frederick Frank Woerner, Jr. Retired United States Army general and
former commander of United States Southern Command.
Dov Zakheim Under Secretary of Defense (Comptroller) (200104)
this is just the list of Government people..
there is also a list of business people, essentially a Who's Who of the Corproate world.
http://en.wikipedia.org/wiki/Booz_Allen_Hamilton#Notable_members_and_alumni
Ichingcarpenter
(36,988 posts)for reminding viewers
HiPointDem
(20,729 posts)gov't work.
i think they're skimming.
UTUSN
(70,740 posts)Yeah, they funneled jobs and cash to lots of B.F.E.E. capos, but David RUBENSTEIN is a big philanthropist (too, besides making money), including buying/donating a copy of the Magna Carta. But the delish anecdote is how he fired Shrub from his legacy job on the Board for not contributing anything to the meetings except dirty/juvenile jokes in a probably hung-over condition.
The Wiki refers to the conspiracy theories about it. I'm not defending it, just noting that it's not all a "B.F.E.E." thing. Jimmy CARTER had a whole nest of vipers at his breast: Tweety and Pat CADDELL, to whom RUBENSTEIN pales in comparison.
******** From Wiki *********
Founding and early history
Carlyle was founded in 1987 as an investment banking boutique by five original partners with backgrounds in finance and government: William E. Conway, Jr., Stephen L. Norris, David M. Rubenstein, Daniel A. D'Aniello and Greg Rosenbaum. The founding partners named the firm after the Carlyle Hotel in New York City where Norris and Rubenstein had often met to discuss the formation of their new investment business. Rubenstein, who was a Washington-based lawyer, had worked in the Carter Administration. Norris and D'Aneillo had previously worked together at Marriott Corporation while Conway was a finance executive at MCI Communications. Of the founding five partners Rubenstein, Conway and D'Aneillo remain active in the business while Rosenbaum left in the first year and Norris departed in 1995. Carlyle was founded with $5 million of financial backing from T. Rowe Price, Alex. Brown & Sons, First Interstate Equities,and the Richard King Mellon family.
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