The S Donald, the U.S. Congresswoman's husband who personally incubated D.E. Shaw, longtime half owner of First Wind, sells his pro-wind newspapers.
Press Herald papers purchased by midcoast businessman Reade Brower
A memo sent to Maine Today Media staff late Tuesday confirmed financier S. Donald Sussman, husband of Democratic U.S. Rep. Chellie Pingree, agreed to sell the paper.
U. S. Congresswoman Chellie Pingree's husband gave First Wind's half owner its start with $28 Million
S. Donald Sussman, the billionaire husband of Congresswoman Chellie Pingree (D-Maine) gave hedge fund D.E. Shaw its start with $28 million. D.E. Shaw is the longtime half owner of First Wind, the wind developer running roughshod over the ridges and mountains of Maine in its endless pursuit of taxpayer funded subsidies, stimulus grants and government mandated support from ratepayers. Sussman is also the owner of Maine Today Media, owner of the largest newspapers in the state such as the Maine Sunday Telegram, Portland Press Herald, Kennebec Journal and Morning Sentinel.
The screenshot below references the $28 million amount.
Portland Press Herald Owner Incubated D.E. Shaw (Half owner of First Wind) /
Congresswoman Chellie Pingree using husband S. Donald Sussman's Wealth in Deal Making?
One would think that if you're a fellow legislator and Chellie gets you money, you listen to her on policy. Watch the lame duck session.
Her value to to the Democratic party, says Brewer, is also due to the help she can give to other candidates. "She is someone who other members of the party turn to for assistance, whether it's assistance in terms of policy or in terms of re-elections," he says.
Brewer says a key factor is the enormous wealth Pingree has access to through her husband - billionaire financier and noted Democratic donor Donald Sussman.
Portland Press Herald Owner (and husband of U.S. Congresswoman Chellie Pingree) Incubated D.E. Shaw (Half owner of First Wind)
PUBLIC INTEGRITY: D.E. Shaw's (1/2 owner of First Wind) original investors included S. Donald Sussman (now principal owner of Maine Today Media)
David E. Shaw, founder D.E. Shaw (half owner of First Wind)
D.E. Shaw’s original investors included the Tisch family of New York (the family behind the Loews Corporation empire) and the Tisches’ in-law New York financier S. Donald Sussman.
S. Donald Sussman founded the Paloma Funds in 1981. The firm’s multi-strategy hedge funds employ various quantitative, relative value and computerized statistical arbitrage strategies.
According to Teri Buhl, the Paloma’s main fund was up 20% in 2009 and has had an average annualized return since inception of over 20%. In her Greenwich Time article, Ms. Buhl also reported that Sussman's fund has incubated several hedge fund trading legends, “such as David Shaw of D.E. Shaw; Dan Arbess, who runs Perella Weinberg's Xerion Fund; Bruce Kover of Caxton Associates; Richard Perry of Perry Capital; and Dan Och of Och-Ziff.”
First Wind Holdings LLC will get a $117 million loan guarantee from federal "stimulus" funds to finance the construction and start-up of a wind energy project in Kahuku, Hawaii, the federal Department of Energy announced Friday. Once complete, the project will create "six to ten" jobs, according to the Department of Energy. At $117 million, works out to a federally guaranteed loan of between $19.5 million and $11.7 million for each job created.
Last year, when the Obama administration awarded its first windmill windfall of $115 million to First Wind, wereported on some of First Wind's connections to the administration:
First Wind ... had owners that included D.E. Shaw and Madison Dearborn Partners. Shaw is the firm at which President Obama's chief of the National Economic Council, Lawrence Summers, held a $5.2 million a year, one-day-a-week job, and Madison Dearborn is the firm of which Rahm Emanuel, now the White House chief of staff, said, "They've been not only supporters of mine, they're friends of mine."...
From the attempted First Wind IPO:
NOMINATING AND VOTING AGREEMENT
FIRST WIND HOLDINGS INC.
D. E. SHAW MWP ACQUISITION HOLDINGS, L.L.C.
D. E. SHAW MWPH ACQUISITION HOLDINGS, L.L.C.
MADISON DEARBORN CAPITAL PARTNERS IV, L.P.
The following article seems to connect PPH owner S. Donald Sussman to the man behind First Wind's half owner, DE Shaw.
"Sussman's had business dealings with other top Democratic donors, including fellow hedge fund manager David E. Shaw..."
Majority Owner of Portland Press Herald Largest Political Campaign Donor in State by Giant Margin
16 times as high as the second largest campaign contributor.
No. 1: Selwyn Donald Sussman, founder of hedge fund Paloma Partners, principal owner of Maine Today Media (Portland Press Herald, Sunday Telegram, Kennebec Journal and Morning Sentinel), developer, North Haven: $2,971,741.
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In the Matter of :
: ORDER INSTITUTING PUBLIC
: PROCEEDINGS, MAKING
S. DONALD SUSSMAN : FINDINGS, CEASE-AND-DESIST
: ORDER, AND ORDER IMPOSING
: REMEDIAL SANCTIONS