Murdoch Opens Gathering Of CEOs At Wall Street Journal Summit

Murdoch Opens Gathering Of CEOs At Wall Street Journal Summit

By Nat Rudarakanchana

on November 18 2013 10:11 PM

http://www.ibtimes.com/murdoch-opens-gathering-ceos-wall-street-journal-summit-1475564

As News Corp. (NASDAQ:NWSA) chief Rupert Murdoch opened a summit of international CEOs in Washington, D.C., Monday night, he cited health care, education and economic competitiveness as challenges the U.S. must overcome.

The elderly media mogul, still a powerhouse even as British authorities prosecute his former employees for bribery, phone hacking and obstruction of justice, said in brief introductory remarks that the U.S. education system is “failing us badly.”

The Australian-born Murdoch invited the dozens of CEOs in attendance to talk openly about such problems, at what he called a critical juncture in U.S. history. Murdoch may be one of the most powerful present at the gathering, but leaders of heavyweights like PepsiCo Inc. (NYSE:PEP) and Fannie Mae were on hand as well.

Wall Street Journal editor-in-chief Gerard Baker -- a Murdoch employee -- remarked earlier that fiscal irresponsibility, privacy, and the rollout of health care reform were issues still preying on the minds of corporate leaders, just as they were last year.

The annual council of CEOs is expected to spend much time criticizing political dysfunction in Washington. One can expect much handwringing as executives tackle a broad agenda which includes cybersecurity, health care and the future of capitalism.

Even as Murdoch’s empire stands strong in North America, as evidenced by his ability to draw top executives and President Barack Obama for an exclusive interview on Tuesday, his media empire elsewhere remains troubled.

News Corp. said last week in its earnings report that it had already spent $40 million in legal costs related to the UK phone hacking scandal, reported its own Wall Street Journal. That comes after $400 million spent on earlier investigations as the scandal unfolded from 2011 onward.

Murdoch also mentioned that he has “personally very strong opinions” on immigration. In his native Australia, an immigration debate rages, stoked most recently by an undercover New York Times Magazine investigation. That piece documented the dangerous journey asylum seekers must make before arriving at the country’s Christmas Island.

Introducing his boss, WSJ editor Baker effusively praised Murdoch as a champion of free media and debate.

“None of what we take for granted, so much in the world, would be possible, in terms of a free media … in terms of the quality of the debate we have, if it were not for Rupert Murdoch,” said Baker. “Rupert has been an extraordinary figure in developing global media. He continues to be a driving force, and holding the world to the values he holds so dear.”

Those values include free enterprise and competitive capitalism, which Murdoch has long championed, and profited from. Murdoch and his family are estimated to be worth about $13.4 billion, according to Forbes.

Rebekah Brooks, a Murdoch favorite and former boss of his British newspapers, is one of the top figures in the phone hacking scandal in the UK, where a trial opened in late October.

K. Rupert Murdoch

K. Rupert Murdoch is the chairman & CEO for News Corp., and a papal knighthood knight.

Note: papal knighthood is an honor conferred by pope from the Roman Catholic Church.

John J. Studzinski is a papal knighthood knight, a director at the Atlantic Council of the United States (think tank), a director at the Human Rights Watch, and was the co-head of investment banking for HSBC Holdings plc.

Herbert M. Allison Jr. was a director at the Atlantic Council of the United States (think tank), and the president & CEO for Fannie Mae.

Open Society Foundations was a funder for the Atlantic Council of the United States (think tank), and the Human Rights Watch.

George Soros is the founder & chairman for the Open Society Foundations, the chairman for the Foundation to Promote Open Society, and was a benefactor for the Human Rights Watch.

Foundation to Promote Open Society was a funder for the Human Rights Watch, the Brookings Institution (think tank), and the Committee for Economic Development.

John L. Thornton is the chair for the Brookings Institution (think tank), a director at HSBC Holdings plc, and was a director at News Corp.

Michael H. Jordan was an honorary trustee at the Brookings Institution (think tank), and a division chairman & CEO for PepsiCo, Inc.

Arthur B. Culvahouse Jr. is a trustee at the Brookings Institution (think tank), and was a lobbyist for Fannie Mae.

Thomas E. Donilon was a trustee at the Brookings Institution (think tank), the White House deputy national security adviser for the Barack Obama administration, a director at the American Friends of Bilderberg (think tank), a lobbyist & EVP for Fannie Mae, and a 2008 Bilderberg conference participant (think tank).

Larry D. Thompson is a trustee at the Brookings Institution (think tank), a trustee at the Committee for Economic Development, and the EVP of governmental affairs, general counsel & secretary at PepsiCo, Inc.

James A. Johnson is an honorary trustee at the Brookings Institution (think tank), a member of the American Friends of Bilderberg (think tank), was a trustee at the Committee for Economic Development, the chairman for Fannie Mae, and a 2008 Bilderberg conference participant (think tank).

Kenneth M. Duberstein is a trustee at the Brookings Institution (think tank), a director at the Boeing Company, was the VP for the Committee for Economic Development, and a director at Fannie Mae.

Barbara G. Fast was a VP for the Boeing Company, and a VP for the CGI Group Inc.

Donna S. Morea was the EVP for the CGI Group Inc., and a trustee at the Committee for Economic Development.

Heather R. Higgins is a trustee at the Committee for Economic Development, and was an editorial writer for the Wall Street Journal.

Michael B. Mukasey was an attorney for the Wall Street Journal, and is an advising independent director’s on hacking scandals for News Corp.

CGI Group Inc. was the Obamacare contractor that developed Healthcare.gov web site.

Obamacare is Barack Obama’s signature policy initiative.

Barack Obama was an intern at Sidley Austin LLP.

Michelle Obama was a lawyer at Sidley Austin LLP.

R. Eden Martin is counsel at Sidley Austin LLP, and the president of the Commercial Club of Chicago.

Newton N. Minow is a senior counsel at Sidley Austin LLP, and a member of the Commercial Club of Chicago.

William M. Daley is a member of the Commercial Club of Chicago, the chief of staff for the Barack Obama administration, and was a director at the Boeing Company.

W. James McNerney Jr. is a member of the Commercial Club of Chicago, and the chairman & president & CEO for the Boeing Company.

Akin, Gump, Strauss, Hauer & Feld, LLP is the lobby firm for the Boeing Company.

Vernon E. Jordan Jr. is a senior counsel for Akin, Gump, Strauss, Hauer & Feld, LLP, an honorary trustee at the Brookings Institution (think tankValerie B. Jarrett’s great uncle, a director at the American Friends of Bilderberg (think tank), and a 2008 Bilderberg conference participant (think tank).

Valerie B. Jarrett is Vernon E. Jordan Jr’s great niece, the senior adviser for the Barack Obama administration, and a member of the Commercial Club of Chicago.

Commercial Club of Chicago, Members Directory

http://commercialclubchicago.org/members/e.html

Please note: This link for the members of the Commercial Club of Chicago can no longer be found.

Robert S. Osborne is a member of the Commercial Club of Chicago, and the EVP & general counsel for Booz Allen Hamilton.

Booz Allen Hamilton is a contractor for the National Security Agency (NSA).

Edward Snowden was an employee at Booz Allen Hamilton, and leaked information about the National Security Agency (NSA).