By Mike Vilensky
Is David Petraeus KKR's Global Institute Chair stepping back into public life?
The former U.S. military general has kept a low profile since stepping down as director of the Central Intelligence Agency a year ago, but he turned up at a New York City gala in his honor Monday evening. "I am convinced that [Gen. Petraeus] has not served his last day in public service," said Jack Keane, another retired general. "He will be back, to be sure."
The New-York Historical Society bestowed Gen. Petraeus and businessman Roger Hertog with awards during a swanky affair at the Pierre. The organization's president and chief executive, Louise Mirrer, praised Gen. Petraeus's "groundbreaking work in Iraq" and Mr. Hertog's "dedication to the power of ideas."
Henry Kissinger and General David Petraeus Don Pollard
Pam Schafler, Roger Hertog and Louise Mirrer Don Pollard. Don Pollard. Don Pollard
The Historical Society maintains a Manhattan museum and library, founded in 1804, devoted to work involving New York's city and state history. Attendees at the event included former New York Gov.George Pataki, former Republican National Committee Chairman Ken Mehlman, writer Niall Ferguson and a handful of hedge-fund managers.
Gen. Petraeus said the attendees included "masters of the universe, my goodness." The gala raised more than $3 million for the society.
Since his resignation from the CIA, after admitting to having an extramarital affair with his biographer, Gen. Petraeus has been lecturing at the City University of New York and working at a private-equity firm. Antiwar activists protested Gen. Petraeus's award on social media and outside the Pierre.
In wide-ranging remarks, he joked about "a midlevel executive working at a financial firm, frustrated at getting passed over for promotion" who visits a brain-transplant center where "an ounce of a television reporter's brains" goes for cheap, and an ounce of a four-star general's brain is expensive.
"Do you have any idea how many generals it takes to get an ounce of brains?" goes the punch line.
"That's just a joke, I think," Gen. Petraeus said afterward. "When you reach this point in life, you're only as good as the material they give you."
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Supported by their global institute run by David Petraeus and Ken Mehlman KKR has been expanding into Asian markets. In China specifically they have recently agreed to buy a 10% stake in Qingdao Haier Co Ltd. a large appliance maker. This stake in QHC is KKR's biggest investment in China to date and is their third asian deal with in a week. The investment is speculated to be around $550 million, a small portion of their $6 billion Asian investment fund. KKR expects to see a large growth in the appliance market in China, at lease 1/5th in the next two years and they are not the only ones. Two months ago Whirlpool Corp, the worlds larges appliance maker also invested a similar sum into China.
After offending much of his market base, Lululemon chairman and founder Chip Wilson will step down, according to a press release from the company.
Wilson has been at the center of a firestorm of bad press after he said some women’s bodies just “don’t work” in the brand’s pants. This fall, Wilson responded to criticisms of low quality by saying that women’s thighs that rub together were eroding the pricey brand’s athletic clothing.
(Photo by Lucas Jackson/Reuters)
Fitbit Force brings smartwatch features to a fitness tracker
Fitbit is making its latest device to quantify your activity, the wrist-worn Force fitness tracker, official today. The Force is an evolution of the Flex, Fitbit’s other wrist-worn tracker, and offers an OLED display and altimeter on top of the features included in the Flex. It’s very similar to the company’s One tracker, but with a wristband so you don’t have to clip it to your pants. The Force is available in black or a handsome bluish grey color (Fitbit calls it “slate”) today for $129.95, slightly more than the $99 Flex, which is remaining in Fitbit’s lineup.
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NORQUAY Co. x Artisan Painted Canoe Paddles // Art of Camping