Sunday, August 31, 2014
Inquirer Daily News

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

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

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

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

Joseph N. DiStefano
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