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Guliani Turns Over Reins at Giuliani Partners, Will Retain Equity

By Jeralyn, Section Elections 2008
Posted on Tue Dec 04, 2007 at 03:41:45 PM EST
Tags: Rudy Giuliani (all tags)
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The AP is reporting Rudy Giuliani has stepped down from Giuliani Partners and turned control over to Peter Powers.

The firm, started by the former New York mayor when he left City Hall, earned Giuliani around $4 million last year. The spokeswoman said he would retain his equity stake in the company.

Shell game. It's still his company if he retains his equity interest. Sounds like a p.r. move to better justify not releasing details about the firm's clients.

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    Guliani Turns Over Reins at Giuliani Partners, Will Retain Equity | 3 comments (3 topical)

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    "Shell game" (none / 0) (#1)
    by scribe on Tue Dec 04, 2007 at 04:00:05 PM EST
    Yup.

    ethically (none / 0) (#2)
    by cpinva on Tue Dec 04, 2007 at 05:18:42 PM EST
    <yeah, yeah, i know, in the same sentence as giuliani, it's an oxymoron>, he should put it in a blind trust.

    Even with a blind trust (none / 0) (#3)
    by Deconstructionist on Wed Dec 05, 2007 at 07:25:25 AM EST
      the beneficiary of the trust receives the benefit of the trust assets. A trust merely severs the legal interest from the equitable interest in the assets.

      If  I put my stock in a blind trust, I still receive the income the assets produce and if I know the assets include stock in XYZ corporation we can call it a "blind" trust because I have relinquished power to direct the sale or purchase of assets or to vote the shares, etc., but I still can "see" what my public actions will likely do in relation to the assets unless the assets are exchanged for different ones without my knowledge. Assuming I name a trustee I believe won't do something such as sell my stock when I would not want it sold or hold it when iIwould want it sold, a blind trust is really no less of a cosmetic measure.

       

    Guliani Turns Over Reins at Giuliani Partners, Will Retain Equity | 3 comments (3 topical)

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