Sunday, February 7, 2016

Philly's Vague invests marketing fortune in US policy

Paul Volcker, Larry Summers, Peter Schiff, Ron Rubin among the insiders Richard Vague (Energy Plus Holdings, First USA Bank) will bring to a March 14 "economic summit" in D.C.

Philly's Vague invests marketing fortune in US policy

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Consumer marketing ace and Rittenhouse Square-area resident Richard W. Vague, who with his minority partners collected $190 million for last year's sale of his West Philly-based Energy Plus Holdings to NRG Energy Inc., plus previous fortunes as boss of what are now the Chase and Barclaycard credit card empires, has plowed profits into a couple of local projects: Gabriel Investments, the angel fund that backs TicketLeap and Careerminds; and the Governor's Woods Foundation, which funds Vague's educational work - including his longtime opposition to the Iraq and Afghanistan wars, and a March 14 "Economic Summit" in Washington DC that includes a real Who's Who of speakers:

- Paul Volcker, ex-head of the Federal Reserve
- Peter Schiff, boss at Euro Pacific Capital, adviser to Rep. Ron Paul, and a stern Fed critic
- Lawrence Summers, ex-Treasury Secretary and Obama adviser
- Robert Rubin, ex-Treasury Secretary and former Goldman Sachs and Citigroup officer
- Annette Nazareth, corporate lawyer and ex-SEC commissioner
- Sheila Bair, ex-FDIC chief, now senior adviser to Pew Charitable Trusts
- Allan H. Meltzer, historian who's focused on the Fed, professor at Carnegie Mellon
- Laura D'Andrea Tyson and Gene Sperling, aides to Clinton and Obama
- Yves Smith, publisher, Naked Capitalism
- Paul McCulley, ex-boss at PIMCO investments, now at Global Interdependence Center
- Peter Hooper, Deutsche Bank
- Craig Alexander, TD Bank
- Thomas Palley, AFL/CIO
- Ed Rendell, ex-PA Governor

And others

Moderated by Vague and by James Clemons, editor of The Atlantic magazine

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About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, 215.854.5194, @PhillyJoeD. Read his blog posts at http://www.philly.com/PhillyDeals and his Inquirer columns at http://www.philly.com/philly/columnists/joseph-distefano/. Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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