Thursday, February 28, 2008

Jim Cramer Interviews Hillary Clinton. And: Clinton’s Efforts on Ethanol Overlap Her Husband’s Interests

Via 24/7 Wall Street:

...Cramer then asked about inflation and "burning food" at the expense of food prices, part of his ag-flation theme. He said if we scrapped ethanol it would bring those prices down.
  • Hillary said it is a little more complicated, but rising corn and soybeans have contributed. She said we are in a transition period that requires all forms of alternative energy and she then noted cellulosic, wind, solar, and new forms of energy for cars. She wants more hybrids and more plug-in cars. She did NOT note anything about nuclear power plants, and Cramer didn't go there even on a sidebar comment....MORE
From the New York Times- "Hil to Bill: You're a Pill".
Oops, sorry, channeling the Post's headline writers.
Here's the Times story:

...Several months earlier, Mrs. Clinton had sponsored legislation to provide billions in new federal incentives for ethanol, and, especially in her home state of New York, she has worked to foster a business climate that favors the sort of ethanol investments pursued by her husband’s friends and her political supporters.

One potential beneficiary is the Yucaipa Companies, a private equity firm where Mr. Clinton has been a senior adviser and whose founder, Mr. Burkle, has raised hundreds of thousands of dollars for Mrs. Clinton’s campaigns. Yucaipa has invested millions in Cilion Inc. — a start-up venture also backed by Mr. Branson, the British entrepreneur, and Mr. Khosla, a Silicon Valley venture capitalist — that is building seven ethanol plants around the country. Two are in upstate New York....

...Yucaipa’s partnership with the rulers of Dubai and its investment in a Chinese media company drew attention to Mr. Clinton’s connection to the fund when his wife was preparing her presidential run last year. In December, aides to Mr. Clinton said he was taking steps to end his relationship with Yucaipa to avoid potential conflicts of interest or political imbroglios for his wife, should she become the Democratic nominee....More