Politico – On the same day Lawrence Summers was announced as President-elect Barack Obama’s top White House economics adviser, the veteran economist said he would resign as the part-time managing director of one of the nation’s largest and most successful hedge funds, D.E. Shaw & Co.

But even as Summers takes the lead of economic policy thinking for the Obama White House, which has promised to be one of the most open and transparent in history, neither the Obama transition team nor D.E. Shaw would say exactly what Summers had done in his two years of work for the $36 billion hedge fund, or how much he has been paid.

In a press release issued Monday, D.E. Shaw said only that Summers had been working on “various strategic initiatives, high-level research and advising the executive committee on the overall business.”

Read Complete Article

Tags: bacon, bridget, chief-executive, conference-call, dealer-operations, federal-election-commission, five-pillars, gasoline, global-powerhouse, new-president, newcastle, nomination, orient-express-hotels, retirement-services

24/7 Wall St. – On Sunday, T. Boone Pickens issued a press release stating that he had met with Senator Obama in Reno, Nevada to discuss his energy plans.  This follows the statement he issued Friday stating that he had met with Senator McCain in Aspen, Colorado to discuss his energy plans. 

Pickens calls this non-partisan in both meetings and stressed that the Pickens movement hopes to get legislation passed in the first 100 days of the next administration.

As far as the Obama meeting Pickens stated (among other things): "I shared my feeling of encouragement at the Senator’s willingness to speak out on energy issues recently in the campaign, but told him that there is still much more that needs to be done……. It would be inappropriate for me to speak for Senator Obama. I have a real sense, however, that he was very engaged. He understands the issues and is interested and excited by the work we are doing to educate and involve the people of this great nation."

Read Complete Article

Tags: fortune-trading, gm, john-paul, june-14, nomination, partnerships

trackback from your site.