Archive for April, 2008
April 30, 2008 5:57PM
By Alexis Glick
Do you want solutions to the energy crisis in this country? Listen to former New York Governor George Pataki.
This morning on Money for Breakfast the former governor laid out his plan for fixing the energy crisis in this country. He spoke very passionately about wind and solar power. He discussed the need for more refineries in the U.S. and the creation of nuclear power plants. He was as animated and energized as I’ve ever seen him. We spoke for ten minutes after we completed the interview. I have never seen him speak more enthusiastically about any other topic. I did not want him to leave. He was an expert on the alternative energy universe and how to create tax incentives to increase the roadmap and infrastructure in this country to take advantage of things like coal, wind and solar power.
This isn’t the first time he has passionately fought for alternative fuels or green initiatives. While governor of New York, he was at the forefront of renewable energy and climate change. He lead the Regional Greenhouse Gas Initiative (RGGI) which was the FIRST carbon cap and trade program in the United States. He protected over one million acres of open land, implemented the nation’s first green building tax credit and developed programs to produce and develop more alternative fuels. His work and dedication to this issue have been documented in many well known publications. He also happens to be a highly regarded member of the task force addressing climate change on the Council on Foreign Relations. A former commissioner of the New York Department of Environmental Conservation during the Pataki administration said, “Pataki made renewable energy, alternative energy and climate change a central part of our administration - frankly, well before it was an “Inconvenient Truth.”
During the interview I jokingly said, “If McCain gets elected, I think you should be the secretary of energy.” He laughed. Said he’s done with the public sector and that he’s having too much fun in the private sector.
Frankly, I wouldn’t count him out. He knows and understands the long-term problems with energy consumption and exploration and has a firm grasp on how this country can become energy independent. Whether he can accomplish it with this Congress or another one down the line will be an issue, but he has the best game plan that I’ve heard in months, if not years. Take a look.
April 30, 2008 5:50PM
By Alexis Glick
Are you a Kentucky Derby fan? I am. I love horse racing! Nothing is more exciting than watching the triple crown. It’s the fastest 60 seconds in sports but the build up and dash to the finish is exhilarating!
Today I interviewed the co-owner of this weekend’s Kentucky Derby favorite Big Brown. His name is Paul Pompa, Jr. He owns a trucking business, Truck-Rite Corp. in Brooklyn and has owned horses since 2000. Interesting combination? One might think so. Not so, says Pompa Jr, his father owned and bread horses while he was growing up.
So how did he come up with the name that everyone is talking about? He named his horse Big Brown after he signed a contract with UPS, his biggest client.
He didn’t tell UPS and didn’t intend to garner as much attention or sponsorship opportunities until Sept. 3, 2007 when the chestnut colt won a race in Saratoga by a landslide. Minutes after, Pompa Junior’s phone rang off the hook with breeders and horse owners begging to buy his horse.
He mulled over many rich offers and decided to go with IEAH (International Equine Acquisitions Holdings). He selected IEAH because they were willing to let him keep a 25% stake in Big Brown’s future winnings and breeding rights.
The holding company, IEAH, was created by a group of Wall Street guys and is currently raising $100 million to buy, sell and breed horses.
Reportedly, they paid Pompa Jr. $3 million for their 75% stake.
Another wonderful case of Wall Street meeting Main Street!
April 30, 2008 1:19PM
By Alexis Glick
What will the numbers suggest when the bell rings at 4 p.m. today? Today is the last day of April and it’s been a pretty good month for the markets.
Take a look at some of these figures:
–>DJIA is on track for its biggest monthly point and percent gain since April 2007.
–>The Nasdaq is on track for its biggest monthly point gain since October 2007, and biggest monthly percent gain since May 2005.
–>The S&P 500 on track for its biggest monthly point gain since April 2003, and biggest monthly percent gain since Oct. 2003.
So will today’s move by the Fed cause the market to sell off or rally into the bell? My guess is the latter. The Fed has now cut rates by 300 basis points or three full percentage points. From 5.25% to 2.25%. Expectations are that the Fed will cut rates by 25-basis points or a 1/4 of a point today. So what happened when the Fed finished cutting rates the last time?
Take a look:
For that we have to go back to June 25, 2003. That was the day Alan Greenspan and company finished a round of 13 rate cuts that began on January 3, 2001 and took overnight borrowing costs from 6.5% all the way down to 1.0%.
Here’s how the market performed in the month after that final cut (6/24/03 to 7/25/03):
Major Averages:
–>DJIA+ 1.9%
–>S&P 500+ 1.6%
–>Nasdaq+ 7.8%
Industry Groups:
–>Materials+6.6%
–>Info Tech+6.1%–>
–>Finacials+4.7%
–>Cons. Discretionary+2.9%
–>Industrials+1.5%
–Cons. Staples-0.9%
–>Health Care-2.0%
–>Energy-3.5%
–>Utilities-5.3%
–>Telecom Svcs.-6.9%
Here’s a look at performance in the year following that last rate cut (6/24/03 to 6/25/04):
Major Averages:
–>DJIA+15.4%
–>S&P 500+13.9%
–>Nasdaq+26.2%
Industry Groups
–>Materials+26.6%
–>Energy+26.1%
–>Info Tech+23.5%
–>Industrials+23.4%
–>Cons. Discretionary+18.0%
–>Financials+15.2%
–>Cons. Staples+11.4%
–>Utilities+7.4%
–>Health Care+1.7%
–>Telecom Svcs.+0.2%
Let’s be clear about this. The financial markets and the economy are in a much different state today than they were in June of 2003. Back then they were recovering from the collapse of the dot-com bubble, a mild recession, and the aftermath of Sept. 11.
What has changed this month versus first quater? Earnings estimates are exceeding expectations. Cash is piling up on the sidelines. Investors (portfolio managers and hedge fund managers) have overindulged in the commodity run-up and have begun to unwind some of that trade, particularly in gold, as the dollar continues to rally off it’s lows and money has and will begin to be re-allocated. The market is prime for a move! Citigroup announced a common stock offering and over allocates because demand is so strong. A UK mortgage lender gets the capital infusion it needs. Hostile bids are now in vogue. Why? Value. May this be the buying opportunity of a lifetime? If you wanted to buy, wouldn’t you buy now just before the Fed considers pausing rate cuts? It’s a no brainer. The dollar is going higher! The U.S. is on sale. The worst may not be behind us but by the time you’re ready to nibble you may have to pay 15% more.
Today is one of the most important days of the year. The closing bell will tell us how psychology has changed or remained the same. Risk or Fear!
April 29, 2008 6:51PM
By Alexis Glick
This morning we had a real treat! A story about a young family in St. Clair, MO with three kids and a growing stack of unpaid bills who were rescued when they decided to participate in a giveaway with Lend America.
Lend America, a mortgage broker and mortgage counselor, offered a $250,000 “Home Free Mortgage” giveaway. Amanda, who rarely believes in these kind of contests or is comfortable giving her personal information out, decided to enter the contest because they only requested her name, address and phone number. She thought why not! Not knowing that what seemed like one in a million chance would in fact come true.
Amanda’s husband is a carpenter and his job doesn’t involve a regular paycheck. Amanda and Wesley had an 80/20 loan. They essentially had two mortgages. One on 80% of the home and one on 20%. The payment on the 80% mortgage doubled because it was an adjustable rate mortgage. They were suffocating from the mortgage payments. They couldn’t get their mortgage refinanced because they couldn’t or wouldn’t qualify given the level of debt on the home. Then one day the phone rang and their World changed.
The $250,000 prize comes in 25 installments of $10,000. The Michno’s mortgage is not that big so they’ll use the rest to pay down car loans and save for their kid’s future. Not bad! I like happy stories.
Speaking of good stories….Lend America is a great story. They got out of the subprime mortgage fiasco about a year and a half ahead of the debacle. They finance entirely with FHA loans and they’re having tremendous success. They finance $150 million of loans each month. Their business has grown 300% in the past 18 months. They’re in 36 states and they are doing some great things to help families including creating a rainy day fund. You can find out more by visiting their Web site Lendamerica.com. I was impressed!
April 29, 2008 3:27PM
By Alexis Glick
If you’ve been reading the press lately you’ve heard a lot of stories about recalled drugs or drugs that may not have the intended results. You may have heard about Merck’s Vytorin or Schering- Plough’s Zetia and about the recall of Heparin, a drug thinner, that has lead to many deaths here in the United States.
This morning I interviewed Jeffrey Killino, an attorney who filed a wrongful death lawsuit against Tyco, now Covidien, on behalf of his client Joyce Williams who lost her husband Freddie Williams, Sr. Joyce joined us too and talked about her husband Freddie who died on March 28. He was being treated for pneumonia when they realized that the nausea, vomiting, excessive sweating and extremely low blood pressure may have caused his death. They believe (Jeffrey and Joyce’s family) that he suffered severe allergic reactions to pre-filled syringes of contaminated Heraprin and those reactions lead to his death. On the day Freddie died, Tyco announced they were recalling Heparin. The fifth and final recall after three other health care companies announced four recalls of adulterated Chinese Heparin originating from a Scientific Protein Laboratories plant in Changzhou, China. The FDA is currently investigating the deaths of other patients. As we speak, the chief executive of Baxter International is testifying in front of Congress. Baxter was one of the companies that sold the blood thinner and recalled it several months before Tyco.
This is a very sad story. I was moved by Joyce’s personal story. She is not alone. She didn’t know what was happening to her husband. Only now does she believe that the signs of his deterioration make sense. While Tyco, now called Covidien, did tell us this, “We do not comment on pending litigation. We’re working closely with the FDA and our customers and our supplier to address heparin supply issues.” It may not be enough.
Two thoughts this morning. Is the FDA doing enough? Do we have cause for concern when we hear stories about drugs made in China that result in personal situations like this? I worry!
April 29, 2008 2:38PM
By Alexis Glick
If you read my last blog, you’ll know that I’m definitely concerned about inflation and not all that convinced that the Fed’s decision to either cut rates by 25 basis points and say we are now finished or on hold or announce no cut at all, will be enough to fight the inflation tide. Believe me, I don’t have the answer. I wish I did but it’s the hot topic and I’m fired up about it as usual.
So what has happened since my last blog?
A couple things. First of all I read a bunch of articles and interviewed two people this morning, Phil Flynn from Alaron Trading and Bryon King, who think the Fed’s stance on future rate cuts will in fact affect the dollar and therefore may help initiate the pullback in the price of oil. They believe oil could be at $80 dollars in the next month if the Fed is finished cutting rates. I hemmed and hawed and questioned why the dollar has been so strong over the last week while oil has continued to move higher. I realize currency traders are getting bullish about the dollar given the chance the Fed will stop cutting but one would also think that oil would begin pulling back if you believe they’re a hedge against one another and that has not happened. Ironically, take a look at gold. Did you forget about that commodity? It reached a high I believe at the Fed’s last meeting around $1100 dollars an ounce and is now in the high $800’s. What has happened there? Are inflations signs abaiting in the gold market or are investors taking money off the table?
Second point is this Ethanol subsidy story. I spoke to Senator Hutchison this morning after the show. The interview will air live on Money For Breakfast tomorrow. She talks about the best of intentions for the increased use of biofuels to fight the rising cost of oil but also talks about how it has sparked ethanol frenzy and resulted in food riots across the World. If she gets what she wants, an end to ethanol subsidies and a reduction or pause in the tax or tariff’s on imported oil, we may finally see some of this Ethanol craze die down. By the way, she also just wrote (hot off the presses) a note to the President and had 14 Senator’s sign it to stop putting oil on a temporary basis into the Strategic Petroleum Reserve. Perhaps that too will provide some relief to these exorbitant prices.
Of note, I did talk to two very smart guys today. One is a specialist in grains, Vic Lespinasse at Grainanalyst.com, who says that grain prices are rising for several reasons. 1) Weather. He says this is the number one issue and one which we cannot control. 2) Also certain countries like Australia have cut their wheat crops in half over the past two years. India for example hasn’t imported anything over the past couple of years and is now importing millions of tons of wheat and corn. 3) Farmers across the Country and Globe have been incentivized to create corn crops and that has created a shortage of other grains. 20%of corn is now used only to make ethanol. 4) The weak U.S. dollar and a U.S. Federal Reserve Bank that continues to cut rates had not helped.
The second guest Kevin Landis, chief investment officer of Firsthand Capital Management, a very well known and highly respected technology portfolio manager, says alternative fuels are the way to invest. He is investing more in alternative energy and believes it is the way of the future regardless of where oil prices go. I told him how I met one Alternative Energy investor who said that solar energy today is what the internet was ten years ago. This is the next big wave. Kevin agreed.
Long story short. Do you agree? Do you believe that the Fed’s move tomorrow will signal the future for oil and the future for inflation prices around the world? Do we have that much impact or has the dynamic changed? What do you think? Weigh in? Will a chance in ethanol mandates combined with increased investment in alternative energy change oil prices? Is Global demand too high to offset a change in U.S. policy?
April 28, 2008 11:19AM
By Alexis Glick
While I was in London, toward the latter half of this week I did hear and read that crude oil hit $120 dollars a barrel. (Ok, you caught me, I am catching up on what I missed.) The shame is, much to my great dismay, this commodity rise isn’t letting up. I was one of those overly optimistic prognosticators who predicted that oil at year’s end would be lower then where we started on the year and that the U.S. dollar would be higher. I’m not looking very smart on my top ten predictions for 2008 :)!
What concerns me is not the one-off situations in Nigeria or the UK, but the flight to commodities (like oil as an investment vehicle), a U.S. dollar hedge and good old fundamentals! What are those good old fundamentals? Demand, population growth, China and India.
Think about China… crude demand is expanding at 11% per annum. China will soon be the biggest oil importer, surpassing the U.S. What about India? Brazil? Mexico? As these emerging economies get richer and if the middle class across the world grows at the record pace most economists have predicted, demand will not soften — it will only get stronger.
Take this statistic reported in The Sunday Telegraph. “The number of cars in the world, now around 625m, is set to double in less than 20 years. Think of the impact of that on global oil demand-seeing as around 70 per cent of current crude output is used to fuel cars.” The Telegraph goes on to talk about the rise in oil prices from $10 dollars to $60 dollars from 1999 to 2006 and the doubling in the past year. Think about it: oil prices are up almost 90% in one year.
Who can afford this? One of the things that I said to Ashley Webster, our London correspondent, this past weekend while visiting London was how booming and busy the city was despite all the talk of inflation, declining home values and increased job losses. Home prices in London are off the charts. I was shocked! I asked Ashley exactly who was buying these $25 million dollar brownstones; he said it is the Russians. They’ve made a lot of money on oil and many bought companies for pennies on the dollar during the fall of communism. Here in the U.S., sovereign wealth funds, many of which are domiciled in the Middle East, are investing in American companies and real estate at breakneck paces, taking advantage of their riches in oil and the weak U.S. dollar. All of which could be viewed as a great development for both the U.S. and UK. After all, just this week Steve Schwarzman of Blackstone, a global private equity behemoth, announced that the company was raising a European property fund to begin nibbling on attractive real estate plays as property values were declining in the UK and Europe.
So what’s my point? What do oil at $120 dollars a barrel and overseas investment in dilapidated U.S. and UK real estate and corporations have to do with one another? A lot! With the U.S. dollar at historically low levels, the sterling is touching another record low against the euro, now at nearly 79p. Even The Sunday Telegraph is recommending to the Brits where to go on holiday (as they call it) for the best exchange rates. Recommending Bulgaria and Turkey given the weakness in the pound against the Euro. I’m not a protectionist. If anything, I believe in free trade. The more, the better. I like cross-border activity, but I don’t like paying almost $10 for a box of cheerios. While our currency is getting cheaper and our buying power weakening, we need overseas investment to keep many of our industries afloat but is it helping us cut prices and inflation?
The Federal Open Market Committee meets this week and most anticipate rates will be cut by 25 basis points or a quarter of a point down to 2%. The Fed has cut rates 3 full percentage points since last October all in an effort to avert a recession, recapitalize the financial markets and make lending more affordable so that Americans and overseas investors would buy our real estate. So, what has happened? Many argue, me included, that the reliquifying of the markets occurred because the Fed opened the discount window and pumped money into the credit markets by expanded Term Auction Facilities. Lending is still impossibly difficult and rates have hardly fallen for a 30 year mortgage. Demand for homes has not ripened and doesn’t show signs of improving in the short-term and inflation keeps getting worse.
I am not a bear. In fact, if you listened to me over the past month, you’d know that I am very bullish. Perhaps too bullish! I am and have been in the camp that this is a slow growth, small recession at best. I realize that jobs will be lost and hear from many of my closest and most powerful friends in the financial community that as many as 30% of Wall Street jobs will be cut a year from now. JPMorgan will keep 7,000 of the 14,000 employees from Bear Stearns. Citi will layoff 9,000 this quarter and will continue to adjust to that 10% mark, maybe even 15 or 20% — which at a minimum is 37,000 jobs lost and a maximum of 64,000. This will not be easy. This will be one of the biggest losses in Wall Street history.
What I don’t understand is what the Fed can do about inflation and job losses. The Fed, in my mind, cannot and should not continue to cut rates after this week. Economists say it takes 6 months to a year to feel the affects of a Federal Reserve Banks’ cut in rates. I don’t see the effects just yet, and it has been over six months since the Fed started cutting rates. This week, stimulus checks will go out and, for a moment, we will all breath a sigh of relief. That moment won’t last until we figure out one problem… INFLATION. We need an answer!
April 28, 2008 8:34AM
By Alexis Glick
If you read my last blog, you’ll know that I was just in London. I’m actually writing this blog on the flight back to New York City. My husband and I flew to London on Wednesday evening for a four day trip (without the kids). We bought a weekend stay in London and tickets to a soccer match (football in Europe) a year ago and finally booked the trip. We booked it several months ago not knowing that we were going to see the most highly-anticipated soccer match of the year between Chelsea and Manchester United. They are competing for the Premiership and at the same time competing for a spot in the finals of the Champions League which will be held later this month in Moscow. Ironically, the two British teams could play each other in the final game of the Champions League.
My husband and I have not been to London in some time. We were in London almost 10 years ago before we got married and a lot has changed. The city is as beautiful as ever, particularly this time of year. Everything was blooming! The gardens and squares and narrow streets with unimaginably beautiful architecture were even more spectacular than normal because believe it or not, the weather was excellent. It was in the mid to high 60’s and sunny. Yes, we did experience some of the traditional London rain, but it wasn’t bad at all. We stayed in a beautiful intimate hotel called the Blakes Hotel in the Kensington neighborhood. It was unbelievably charming! We forgot what it was like to stay in an intimate hotel. We used to stay in small hotels before we had kids but now we worry that if it’s too small our kids will wake everyone up. It was nice to be adults again :)!
During the days we walked up and down Fulham Road, Sloane Street and King Street where there are many beautiful shops. We went on the famous eye which takes you on a ferris wheel up in the sky and allows you to look at the city. We passed by Westminster Abbey, visited Buckingham Palace, the National Museum, Piccadily Circus and Trafalgar Square. We met up for drinks with Ashley Webster, our London based correspondent and his producer Lauren. They took my husband and I to a local pub and taught us what drinking a real ale was all about. We had a wonderful time! He’s my personal favorite on the network….aside from Robert Gray and Connell McShane (if I don’t say that we’ll be fighting about this statement in one of our rounds on The Opening Bell :))! He taught my husband and I about the local British culture, how bloody expensive everything is and why it is that way. He taught us the rules of cricket and informed us that there are 92 professional sports teams in London. We couldn’t believe it! He’s just like us….obsessed with sports!
The highlight of the trip was going to Stanford Bridge to see Chelsea take on Manchester United. Oren and I have dreamed of seeing a football match and to see these two teams, some of the best in the World, was icing on the cake, especially given the grave importance of the game. On our walk down to the stadium we had heard about the Chelsea fans and their love of football. The streets were littered with football fans in their Chelsea jersey’s standing outside every imaginable pub drinking beers. The game started at 12:45 but that didn’t stop anyone for drinking early. Everyone was euphoric. This game and it’s proposed standings have been talked about for a month both in Europe and in the U.S. I’m happy to say it lived up to all the hype!!!
When we entered the stadium we knew this was going to be special. Chelsea’s home field is beautiful and very safe. Security was very tight. Thankfully, we had heard that the old days of attacking one another in the stands had become a part of the past, at least in London. The crowd was excited and the Manchester United fans were relegated to a specific corner of the stadium where a barricade of police surrounded them. Every row on both sides had security. Clearly they were prepared! The game was brilliant. Oren and I didn’t really care who won although we rooted for Chelsea. Chelsea won 2 to 1 in a penalty shot in the 2nd half. It had all the makings of a great rivalry with fights, penalties, mistakes and pure hubris. The Chelsea crowd was euphoric and watching them root on their team was such a treat. They sing the entire game! No joke! Local Chelsea songs and some with words that I couldn’t properly express in this blog. It’s like nothing you’ve ever experienced. Oren and I were overjoyed to be there. We knew it would be a sporting event that we would never forget. We did add to the local GDP by buying our fair share of Chelsea goodies for our family and kids. It was one of those this may-never-happen again moments!
The best part of the entire trip was being with my best friend and husband! Our lives are so busy and when we’re home it’s about the kids, the job, building a house or taking on the world. Together we love to travel and this afforded us that opportunity to do some of the things we love doing the most. We got to sleep late, order room service and shut down the BlackBerrys, work e-mails and phone calls. I must admit when we go away, we do cut ourselves off from the world. For a moment it’s nice not to know what is going on in the world. If I’m pregnant, you’ll be the first to know. 
P.S. The pitch was feverish!!!!!!!!!!!!
The London Eye
Views from the London Eye
Big Ben, Westminster Abbey, Taxis outside Buckingham Palace
Standing outside the stadium in Chelsea…about to see the big football match!
Penalty kick for Chelsea. They scored this goal to win against Manchester United 2-1
Ashley Webster, our London-based producer Lauren and me after having several beers at a local pub
My husband Oren and I during our last night in London
April 27, 2008 7:58PM
By Alexis Glick
It’s Sunday afternoon and I am sitting in London’s Heathrow Airport awaiting my return flight back to New York. It’s been a hectic and exciting week. My apologies for dropping off the face of the planet. I traveled down to Washington, D.C. last Monday to be the Master of Ceremonies at the Atlantic Council Awards Dinner and woke up in the middle of the night with a terrible feeling of nausea. I threw up most of the night. I then rushed over to George Washington University at 5a.m. Tuesday morning to host Money for Breakfast and The Opening Bell from GW’s campus. Shockingly, I made it through the show but just barely. On my return train ride back to New York City I continued to throw up. Not my prettiest day! No, much like my mother’s quiet enthusiasm and gentle inquisition, I’m not pregnant. Although all of my producers were probably thinking that all morning.
When I returned back to New York Tuesday afternoon I crawled into bed and didn’t get out until Wednesday afternoon. My 48-hour bug started with my baby Slate who had the identical condition last weekend, moved on to my oldest Logan just as my husband and I were leaving Wednesday evening for London and over the weekend my middle guy Kyle caught it. Hopefully all will be back to normal this week.
It’s been several days since I Emceed the Atlantic Council Awards Dinner but I couldn’t pass up an opportunity to tell you about the brilliant night. I had no idea what to expect when I received a call a month or two ago asking me to participate in the ceremonies. To be honest with you, I didn’t know very much about The Atlantic Council until I read about it on their Web site and compiled some research. The easiest way to describe it, it’s a non-partisan organization here in the U.S. that promotes cross-border communication and initiatives whose central focus is the Atlantic community. U.S. lead corporate executives, politicians and philanthropists work with ambassadors, heads of state and leaders in their respective countries to create and encourage a working dialogue about some of the World’s biggest and most pressing issues. The council tackles issues ranging from terrorism and security, to climate change, energy independence, resisting protectionism and human rights.
At the dinner on Monday night, four spectacular individuals were honored. Rupert Murdoch, my boss, chairman and chief executive of News Corporation, the parent of the Fox Business Network, Tony Blair, former prime minister of Great Britain and Northern Ireland and current Quartet representative, representing the U.S., UN, Russia and the EU in helping Palestinians prepare for statehood, Evgeny Kissin, a world renowned pianist born in Moscow and Admiral Michael Mullen, chairman of the Joint Chiefs of Staff. Just those four individuals could cause you to go weak the knees but the list continues.
As the master or mistress of ceremonies, I had the honor of introducing Brent Scowcroft, former national security adviser to both President’s Ford and Bush, former president of Spain Jose Maria Aznar, Former Secretary of State Henry Kissinger, General James Jones, chairman of The Atlantic Council and former marine commandant and supreme allied commander Europe, Former Polish President Kwasnievski (trying say that three times), Fred Kempe, president and CEO of The Atlantic Council and General Colin Powell, former secretary of state, national security Adviser and chairman of the Joint Chiefs of Staff.
Are you thinking what I’m thinking? Oh My God!!!!!!!
It was an incredible night!! Honestly, one of the most memorable nights in my life. I was somewhat nervous about what I would wear and how I would look. Not only was I going to be in the presence of people that I’ve read about and dreamt of meeting, but I was also representing in some small measure Rupert, News Corp and the Fox Business Network. I wanted to be elegant, crisp and understated. Hopefully I achieved that! Listening to Evgeny Kissin perform Chopin’s Fantasie-Impromptu and Scherzo #2 was amazing. At the beginning of the night I had to try, and I emphasize try, to quiet down the loud DC crowd. It took some time but when Evgeny played, the room was silent. For 15 minutes his fingers strolled the keys on the piano and we knew we were in for a treat. His performance took my breath away! The speeches were equally engrossing. Tony Blair talked about the Middle East, a common voice and need for unity. Rupert talked about Europe, NATO and why a trade deal with Colombia is a necessity, the World is watching. The Admiral talked about the soldiers on the front line every day and the importance of supporting our missions abroad.
In between each speech I sat at my table. Rupert, Kissinger, Richard Edelman, chairman of Edelman Public Relations, James Lee, vice chairman of JPMorgan Chase, Sir Martin Sorrell, group chief executive of WPP…….the list could go on and on, sat next to me. I was by far the poorest and most uneducated kid in the room and I’m proud to admit that I’m a Columbia grad :)!
After the dinner I met Stephen Schwarzman, a man I’ve always admired from a distance but never met in person. He was kind, thoughtful and very unassuming. Very down to Earth! I saw my good friend Richaed Gelfond, the IMAX CEO and his lovely wife, met the Lebanese prime minister, the Swedish prime minister and so many others! I felt like I was in the old classic Sabrina. I wasn’t there to fall in love :), although I do have a crush on Kissinger and Powell and believe me, I told them. The Irish…we’re not bashful :)!! I’m not sure if I was Cinderella but I felt like it. When I introduced Rupert and Kissinger, Kissinger had to use the facilities so I had to stall. I talked about the first time I met Rupert and how touched my grandparents would be if they were alive to see me standing in a room with these people. I don’t know if it will happen again but for one night, all I could do was pinch myself. Moments like this don’t happen, at least not to me. Five former heads of state and government, three former national security advisers, two former secretaries of state, 37 ambassadors, two dozen senior U.S. officials and legislators, 26 chief executives and chairman and me.
April 22, 2008 4:35PM
By Alexis Glick
This morning I anchored the show from Washington, D.C. as I had the honor and privilege of emceeing The Atlantic Council Awards Dinner for Distinguished Leadership last night. It was one of the most exciting and inspiring events that I have ever attended or participated in. Awards recipients included Rupert Murdoch, Tony Blair, Admiral Mike Mullen, chairman of the Join Chiefs of Staff and a world-renowned pianist named Evgeny Kissin. It was a brilliant evening. I’ll give you all the details in my next blog!
So now you know why I was in D.C. This visit we decided to do something different and broadcast the show from George Washington University. I was anxious to hear what the undergrads and grads felt about the economy, job prospects, the environment and the pending election. The students I interviewed were so inspiring! They were candid, smart and terrific speakers. It was an opportunity to talk to the next generation of leaders. You won’t want to miss it!
