Sunday, January 18, 2009

Barack Beats Bush in PJ's (Private Jets)

Bloomberg reported a record number of private jets will descend on Washington, D.C. for President Barack Obama's inauguration. A 9,400 foot runway at Dulles International Airport will be closed to make room for hundreds of private aircraft. Consider the data:

2005 Bush's second inauguration-300 private jets
2009 Obama's inauguration-500 private jets

Someone please check on Rep. Brad Sherman's flight accommodations. He drilled Big Three auto executives for their insensitive excess. Does Brad practice what he preaches as a public employee? I recall the fleet of private jets in Denver for the Democratic National Convention (pictured above).

Other data to monitor during the Barack Obama years includes the billions in assets managed by The Carlyle Group, a politically connected private equity underwriter (PEU).

2001--$12.5 billion
2009--$91.5 billion

It should be much higher, given that private equity is entering "it's finest hour". Carlyle co-founder David Rubenstein chairs a committee redesigning the global financial system. Think the PEU boys will come out on top? Stay tuned.

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