Word: forstmann
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...view vouchers as a threat to jobs, and they seemed like a very long shot. But lately vouchers have been picking up steam. Democrats like Milwaukee Mayor John Norquist and former New York Congressman Floyd Flake have joined Republicans in advocating school choice. And last week venture capitalist Ted Forstmann and Wal-Mart heir John Walton announced the Children's Scholarship Fund, a $200 million initiative to provide scholarships for 50,000 children to attend private or parochial schools...
...TEDDY FORSTMANN Puts up his money and joins Michael Ovitz and John Walton in funding school vouchers...
...parochial schools. Of those, fewer than 20,000 are using vouchers to help cover their tuition. And only two cities, Milwaukee, Wis., and Cleveland, Ohio, use tax dollars to supply the vouchers. In 30 or so others, funding is provided by private donations. In Washington, for instance, Ted Forstmann, the head of investment firm Forstmann Little & Co., has joined with another investor, John Walton, to pledge $6 million in tuition assistance for 1,000 D.C. children. "I hope this will be the wave of the future," says Forstmann, "citizens taking responsibility for problems...
...Forstmann, a wealthy New York investor who had helped fund Empower America, the conservative Washington think tank that Bennett co-directs, got a taste of Bennett's attitude when Forstmann tried to recruit another Master of the Universe, Julian Robertson, to support the think tank. Forstmann invited Robertson to meet Bennett, Jack Kemp and others from Empower America at his home in Manhattan. Things started out cordially, but before long, a dispute broke out over abortion, with Robertson challenging Bennett's call for more restrictions on the practice. Bennett showed no deference to a potential benefactor. At one point...
Powell has also been on the phone to possible members of his motley financial team like Ronald Lauder, an heir to the Estee Lauder fortune, Wall Street dealmaker Ted Forstmann, Bill Cosby and especially Powell's cousin Bruce Llewellyn, one of the wealthiest blacks in the country. He wanted to know how much he would need to raise to mount a challenge to Dole; they said about $10 million between now and the February starting gun. Given his allies and stature, that wouldn't be hard, with a series of major dinners in about 30 cities. What would be tricky...