A brief entry, but I hope tribbers can add to what I found.
The below is edited from a comment I made in Fran’s European Sunday Brunch Thread at European Tribune.
This article needs some discussion:
MPs are calling for a fresh inquiry into a £5.6bn government contract used to ‘sweeten’ the controversial part-sale of defence group Qinetiq to US private equity group Carlyle.
The 25-year deal to manage the Ministry of Defence’s 22 practice ranges is currently the MoD’s largest contract. It was awarded to Qinetiq without competition and signed off on 28 February 2003, the same day that Carlyle paid £42.3m for a 34 per cent stake in Qinetiq. Senior defence sources have described it as, in effect, a ‘dowry’ from taxpayers to Carlyle.
Carlyle is now expected to make an eightfold return on its 34 per cent stake when 49 per cent of Qinetiq is floated next month, while executive chairman John Chisholm stands to see his £129,000 investment grow to around £23m.
I recalled some discussion some time ago of Tony Blair joining the Carlyle group when done as PM. Did a search and found that a large number of links were no longer good…
More below:
Anyway, Information Clearing House:
08/22/05 “Sunday Mirror” — — TONY Blair is expected to join one of the most exclusive groups of businessmen in the world after he leaves Downing Street.
The PM is being lined up for a highly lucrative position with the Carlyle Group – an American-based investment giant with strong links to the White House and the defence industry.
The firm has been nicknamed “The Ex-Presidents Club” because it has had a host of former world leaders on its books including George Bush Senior, his former secretary of state James Baker and former British PM John Major. There a also a large number of former US Army top brass.
Mr Blair has been keeping quiet about his plans after his departure from Number 10 – which could be as early as 2007 according to some Labour insiders.
But sources in the City have revealed that he is “seriously considering” a high-profile role with Carlyle – which manages $30billion (£20million) of investments worldwide.
The job could net Mr Blair up to £500,000 a year for only a few days work a month giving speeches and making “networking” trips on behalf of the company.
The move comes after it emerged that the premier’s financial affairs are in an increasingly perilous state His dream home has crashed in value by £700,000 in just seven months and he and Cherie have to find £13,000 a month for the mortgage.
The £3million loan the couple took out to buy the house in London’s Connaught Square is 17 times Mr Blair’s current salary.
And Center for Media and Democracy (which I have found reliable previously) has some interesting links.
