We have been targeting on the Carlyle Group, a private multi billion dollar defense contractor with ties to the Bush family, as a business which makes money without bearing any entrepreneurial risk and by waging wars rather than by building wealth and promoting peace. I have also been mentioning that the Carlyle Group had a return of 36% on their investments on $6.4 billion since 1987.

Today I have more evidence that the Carlyle Group is an atrocious business dividing common people as well. Carlyle makes business out of the triangle governments, industry and the military; and on top of this corrupt triangle Carlyle raises money from 435 pension funds. This is a diabolic strategy since Carlyle makes money without any risk while at the same time it maintains the perception that it increases and protects the retirement funds of millions of American workers. This is not true as the retirement funds protected by the defense contractor Carlyle are the other side of another sad story, that is the loss of trillions of dollars in the stock market and the related loss of trillions of dollars of other retirement funds and 401k accounts of millions of American workers.

Today I am going to provide a specific example on how the Carlyle Group promotes its growth while at the same time directly participating in the collapse of other companies so that management executives steal billions of dollars while workers lose their pension and their jobs.

In the 1996 Nortel Annual report we find the names of John Roth and Frank Carlucci ( and Peter Lougheed) as directors of the company. John Roth managed Nortel so that its share’s value decreased from a high of about $65.00 some two years ago to a low of about $1.07 today. Further, in an effort to increase shareholders’ value Nortel downsized its work force by some 50,000 people. And guess what? Frank Carlucci is the Chairman of the Carlyle Group. And this is not the end of the story as our own Canadian economy is taking the form of a war economic infrastructure. In fact, the prominent Canadians associated with Carlyle are the following:

• Frank McKenna, former Premier of New Brunswick,
• Peter Lougheed, former Premier of Alberta,
• Power Corp.'s Paul Desmarais,
• Bombardier's Laurent Beaudoin,
• former Canadian Ambassador to the United States Allan Gotlieb,
• and others.

References

Pertinent articles published in Ensign

Canada's Connection to the Murky World of the Carlyle Group Steven Staples, Director of the Polaris Institute's Project on the Corporate-Security State http://perc.ca/news/carlyle.html

Nortel: 1996 Annual Report http://www.nortelnetworks.com/corporate/investor/reports/96arpt/corporate.html

CARLYLE GROUP. The Big Guys Work For the Carlyle Group. What exactly does it do? To find out, we peeked down the rabbit hole. By Melanie Warner, FORTUNE, March 18, 2002 http://www.fortune.com/indexw.jhtml?channel=artcol.jhtml&doc_id=206684

Not Nortel Network http://www.geocities.com/NotNortel