Blackstone CEO

[Rearden]

Originally posted by Joeaksa
Its all Bush's fault huh? I really feel sorry for you.

Well, Schwarzman was Bush's roommate at Yale and both entered Skull & Bones in 1969.

But seriously now, the guy built up this company for the past few decades and sells a part of it for a lot of money. And people call foul. The guy is a superstar. Jeez.

[Racerbvd]

Why is it the same *******s who whine about this say nothing whem some liberal actor makes huge bucks off a film that sucks???

[lyon]

Originally posted by Racerbvd
Joe, what do you expect from someone who list this as their job

As it gets closer to 2008, we will see more & more of these losers from demakook.org. and move on .BS

scary poster, looks like a 1938 fascist poster

[Joeaksa]

Originally posted by Racerbvd
Why is it the same *******s who whine about this say nothing whem some liberal actor makes huge bucks off a film that sucks???

Because that liberal actor donates .00000000000000000043% of what they make in one day to a bleeding heart cause that makes the tree huggers all warm and fuzzy for 8-10 years and overlook anything else they do in their private life.

The guy who starts a business provides employment for hundreds if not thousands of people and the tree huggers harpoon him for it.

There is no rational reasoning going on here. Funny thing is that Wayne started Pelican Parts just like the Blackstone guy did, seems to be making some money (driving several P-cars and a F-car from time to time) but is also working his assets off, sometimes fussing with this damm BBS at 2 AM just to keep it on the air. The liberals never realize that he is doing the same thing, putting his heart and soul into the business to make it successful but they cannot connect the dots to bring the two together.

Off Ramp, cat got your tongue? Caught up in a book? We know its Bush's fault but what happened to your other arguments?

[Dantilla]

Wow.

I'm not sure if I'm amused, or just sad.

I recently sold a piece of property I've owned for twenty years. Twenty years of maintenance. Property tax. Repairs. Landscaping. Twenty years of getting a call, and dropping what I'm doing to go fix something. I now have a sizable amount of money in the bank, but it's not as if I earned it all the day I sold. And I wrote out a check for 15% of what I earned. Yup, the same tax laws apply to me. My tax bill was not billions, "only" thousands. Many thousands. But I wrote out a check for 15%, in addition to 30% or so of my other income.

If this CEO was forced to pay more in taxes, how would it affect you or I?

Zero.

Quit worring about the other guy's wallet. This is a land of opportunity. Go make it happen. Do I have money today by pointing fingers at other's, or by taking a risk twenty years ago, rolling up my sleaves, and working hard?

Is the economy better off without him? How many jobs has he provided? How many accountants and lawyers can feed their families because of him?

Now that he's a billionare, do you assume he will live a life of hedonistic leisure, or do you think that maybe he will set up a foundation, and have a good portion of his money help others? Neither of us knows, but the wealthy in America have a pretty good record of helping others.

Pretty myopic thoughts here.

I wish you well.

[thrown_hammer]

Blackstone is buying the company I work for. Things are “interesting” around here that is for sure. Some say it will be better, some say it will be the picking apart of a great company. I’ve been here 15 years. I just do my job and go home. I am pretty sure President Bush doesn’t have anything to do with it….although Marylin Quale is on the BOD and recommended the sale.

[David]

Originally posted by legion
I have a different take on Blackstone.

They were private to limit their exposure to outside influences. They were focused and undistracted--and did what they did extremely well.

Why would they invite the headaches of public ownership? IMO, they are out of ideas and it is time to cash in.

I agree. These guys are in it for the money and they were making plenty of it for their silent investors. Why would they go public if it wasn't for those investors to cash out. I believe the CEO got a significant cash payout in addition to the stock.

Blackstone is one the three private investment groups that bought the company I worked for, Texas Genco, for 1.9 bil. They sold it a year later for 5.9 to NRG Energy after selling off everything they could. I'm still dealing with problems at the building I'm in due to how they split up the property .

[jeffgrant]

For whatever it's worth, the article I saw said that Blackstone raised their value by $7.7 billion in an IPO... it's not that the CEO made $7.7 billion.

It was an IPO, not someone cashing out.

[David]

Actually it is the CEO getting $7.7 bil in stock (24% of the company) and he can cash out $677.2 mil during the IPO.

[nota]

one guy is worth one 1/4 of a huge CORP??????
AND I BET HE PAID ABOUT ZIP FOR ANY OF THAT STOCK

basic fairness and neo-conned LIES THAT THE RICH ARE OVER TAXED IS THE POINT

A WORKER PAYS 15% SS [ if self imployed] PLUS WHAT EVER TAX RATE on top of that
RICH GUYS PAY 1/2 OR LESS
BUT THE RICH ARE OVER TAXED????????????????

AND DONOT FORGET BuSh2 WHO HAS NEVER EVER GOT NEAR A BALANCED BUDGET WANTS NO TAX ON DIVIDENDS OR CAPITAL GAINS
THAT WILL MAKE THE UNFAIR TAX RATES WORSE

AND INCOME TAX WAS TO BE A RICHMAN'S ONLY TAX
AS FIRST PASSED INTO LAW
WITH WORKERS PAYING NO-THING AT ALL

BUT THE NEO-COONNED SHEEP STILL BLEET THE RICH ARE OVERTAXED bs bs bs

THE WORKERS YOU AND ME WHO GOT THE VERY SMALLEST OF THE TAX CUTS ARE, WERE, AND WILL BE OVER TAXED
AND THE SUPER RICH ARE, WERE, AND WILLBE UNDER TAXED

SAME AS IT EVERWAS

[slakjaw]

Originally posted by Joeaksa
Another liberal spouts off.

Please show us how the CEO of Blackstone robbed people. When you get finished doing that, pls call the police and have them file charges against him and possibly you can collect some damages.

Doubt that you will as you are just spouting off with no proof to back any of this up. Oh yea, how about the people in Europe, China, Russia and so on who make the same or more money? They are not Americans so its not an American "club" at all.

Off Ramp, when are you going to learn? BTW, you have no idea which "club, if any" I am in so please do not write crap like this!

I know of 3 or 4 CEO's who did rob people. One of them is spending the rest of his life behind bars. The other one is dead, and one of them was never sent to trial. But that one guy who is sleeping with Bubba make it a whole lot better.

[slakjaw]

Originally posted by nota
one guy is worth one 1/4 of a huge CORP??????
AND I BET HE PAID ABOUT ZIP FOR ANY OF THAT STOCK

basic fairness and neo-conned LIES THAT THE RICH ARE OVER TAXED IS THE POINT

A WORKER PAYS 15% SS [ if self imployed] PLUS WHAT EVER TAX RATE on top of that
RICH GUYS PAY 1/2 OR LESS
BUT THE RICH ARE OVER TAXED????????????????

AND DONOT FORGET BuSh2 WHO HAS NEVER EVER GOT NEAR A BALANCED BUDGET WANTS NO TAX ON DIVIDENDS OR CAPITAL GAINS
THAT WILL MAKE THE UNFAIR TAX RATES WORSE

AND INCOME TAX WAS TO BE A RICHMAN'S ONLY TAX
AS FIRST PASSED INTO LAW
WITH WORKERS PAYING NO-THING AT ALL

BUT THE NEO-COONNED SHEEP STILL BLEET THE RICH ARE OVERTAXED bs bs bs

THE WORKERS YOU AND ME WHO GOT THE VERY SMALLEST OF THE TAX CUTS ARE, WERE, AND WILL BE OVER TAXED
AND THE SUPER RICH ARE, WERE, AND WILLBE UNDER TAXED

SAME AS IT EVERWAS

So whats your solution? National sales tax?

[Hugh R]

Only paying about a billion in taxes, and some here think he's not paying his "fair share"? WTF?? Did he use more police, fire roads, public works, flood control, National Guard, or other military than you? I think not. Exactly what do you think his "Fair Share" should be? I think those who earn $40,000/year don't pay their fair share. In fact, if you made only $40K last year you probably didn't pay any income taxes. And certainly not enough to pay to put your 2.2 kids through public school. In fact, the average working Joe actually doesn't pay HIS fair share, when you consider monies paid in, and goods and services taken out. Its the "Rich" who subsidize the poor and the middle class in government services. The trouble is that those of you who don't believe this aren't being intellectually honest with yourselves.

[Rearden]

Originally posted by nota
one guy is worth one 1/4 of a huge CORP??????
AND I BET HE PAID ABOUT ZIP FOR ANY OF THAT STOCK

Are you really that clueless about entrepreneurship? He co-founded the company in 1985 with one other guy. I imagine he invested his life-savings at that time into the company.

No wonder you're a "worker", envious of the more ambitious and successful.

[nota]

RETURN TO THE SLIGHTLY FAIRER AND BALANCED
TAX RATES PRE-BuSh2 SHORT TERM

I have no real problem with fair progressive tax rates
but think unEARNED income should not be taxed at a lower rate then the workers pay
so huge capital gains should bring a huge tax bill

all in favor of cutting goverment costs
start with CORP'S WELFARE, and things like EXPORT TAX CREDITS FOR EXPORTING JOBS needs to STOP

farm credits ment to go to family farms needs to stop going to millionairs who trick the rules

insider deals like chain man's no bid deals need to STOP

stupid laws like most all sex and drug laws need change
minor taxes could reverce the red ink in that area quickly

and balance the trade and over all budgets

[lendaddy]

Some people create and others consume. Those on the doll will never understand that the pie is not "only so big", that someone can go out and create new wealth for himself and others. These people are not takers, they are givers. They are the ones that make it possible for someone like NOTA to drive a mail truck around, stoned on weed for a wage 2-3 times greater than what he's actually worth.

The taxes on this mans wealth are not monies that would have otherwise been taxed at a higher rate, they are taxes that if not for him would never have been collected at all. We owe these people, they are our golden gooses.

[nota]

Originally posted by Rearden
Are you really that clueless about entrepreneurship? He co-founded the company in 1985 with one other guy. I imagine he invested his life-savings at that time into the company.

No wonder you're a "worker", envious of the more ambitious and successful.

and that investment was??
or he borrowed the cash??
or what
and what rate of return is that on 7.7 billion??

any way income is income and the rich are not paying near the same % as workers
in a original TAX THE RICH ONLY SYSTEM
that has grown to tax everybody but tax the little guys the most

the main point is and no neo-conned will go near it
THE RICH ARE NOT OVER TAXED AND NEVER HAVE BEEN
and balance the DAMM BUDGET FIRST THEN AND ONLY THEN CUT THE TAXES
dad knows best it is VOODOO and always will be
VOODOO

[Hugh R]

NOTA, your a liberal plain and simple. He pays a Billion in taxes and its not enough. You focus on the tax rate (%) he pays, not how much he pays. Do you really believe a Billion isn't his fair share? If you make under $50K a year, you probably don't pay ANY Federal income taxes, or if you do, your an idiot because the IRS says you don't have to. Do you have kids? Do you pay enough taxes to put your own kids through school? If I paid $30K in federal income taxes last year and got a tax break of $3K, and you didn't, you'd probably complain that I got a tax break, even though I still pay more taxes than you, and collect no more services from the government.

The fact is that "The Rich" the top 10% of wage earners pay over 50% of the income taxes in this country. When you say "The Rich are not over taxed and never have been" I guess that's easy to say when your not paying the bill.

I pay more in Fed, State, sales, gas, property, utility and other taxes than the average family of four in the US even EARNS. I'd say I'm way over taxed for what I get back which is zero unemployment, welfare, earned income credit, and I use no more police, fire, roads or anything else that everyone has access to.

[nota]

under the original tax plan the rich paid 100% of the income taxes

I thought the neo-conned liked the older ways better???

[Hugh R]

BTW, I don't consider myself to be "Rich", but the government seems to think I am. I think everyone should pay some taxes. There should also be a cap on what people pay, that way entitlements wouldn't get so out of hand. Gotta go catch a plane,

Later...