Private equity backing and self-dealing featured at the bankrupt coal firm whose workers are still waiting for pay.
Tag: private equity
Eyes on the Ties’ Fracketeer of the Month: Stephen Schwarzman
Blackstone Group CEO Stephen Schwarzman has bet billions of dollars on the oil and gas industry, buying interests in drilling fields, fracking companies, major pipeline projects, power plants and export facilities. If Trump continues to make good on his pledge to expand fracking and pipeline infrastructure, Blackstone’s oil and gas bets could prove incredibly lucrative for Schwarzman, whose $425 million 2016 pay package mainly came in the form of stock dividends.
CPV: A Private Equity Fracking Play
Competitive Power Ventures (CPV), an energy company behind nine planned or operational natural gas power plants across the US and Canada, has faced strident local opposition to several of its east coast projects. Proposed plants in New York and Connecticut have highlighted how CPV uses political influence, including the hiring of well-connected lobbyists and political …
What about Cerberus?
President Obama issued an ultimatum to GM and Chrysler today, setting out strict guidelines for the carmakers to meet before obtaining more government aid. Coupled with the forced resignation of GM CEO Wagoner, the Obama administration’s heavy-handed approach to Detroit, as compared to its approach to Wall Street, seems to indicate a double standard. Why …