Right wing NY Times
http://www.nytimes.com/2013/08/14/u...ndation-over-finances-and-ambitions.html?_r=0
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For most of the foundation’s existence, its leadership has been dominated by loyal veterans of the Clintons’ political lives. Ira C. Magaziner, who was a Rhodes scholar with Mr. Clinton and ran Mrs. Clinton’s failed attempt at a
health care overhaul in the 1990s, is widely credited as the driving force behind the foundation’s largest project, the Clinton Health Access Initiative, which, among other efforts, negotiates bulk purchasing agreements and price discounts on lifesaving medicines.
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Today, big-name companies vie to buy sponsorships at prices of $250,000 and up, money that has helped subsidize the foundation’s annual operating costs. Last year, the foundation and two subsidiaries had revenues of more than $214 million.
Yet the foundation’s expansion has also been accompanied by financial problems. In 2007 and 2008, the foundation also found itself competing against Mrs. Clinton’s presidential campaign for donors amid a recession. Millions of dollars in contributions intended to seed an endowment were diverted to other programs, creating tension between Mr. Magaziner and Mr. Band. The foundation piled up a $40 million deficit during those two years, according to tax returns. Last year, it ran more than $8 million in the red.
Amid those shortfalls, the foundation has sometimes catered to donors and celebrities who gave money in ways that raised eyebrows in the low-key nonprofit world. In 2009, during a Clinton Global Initiative gathering at the University of Texas at Austin, the foundation purchased a first-class ticket for the actress Natalie Portman, a special guest, who brought her beloved Yorkie, according to two former foundation employees.
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By 2011, the firm had added a third partner, Declan Kelly, a former State Department envoy for Mrs. Clinton. And
Mr. Clinton had signed up as a paid adviser to the firm.
Teneo worked on retainer, charging monthly fees as high as $250,000, according to current and former clients. The firm recruited clients who were also Clinton Foundation donors, while Mr. Band and Mr. Kelly encouraged others to become new foundation donors. Its marketing materials highlighted Mr. Band’s relationship with Mr. Clinton and the Clinton Global Initiative, where Mr. Band sat on the board of directors through 2011 and remains an adviser. Some Clinton aides and foundation employees began to wonder where the foundation ended and Teneo began.
Those worries intensified after the collapse of MF Global, the international brokerage firm led by Jon S. Corzine, a former governor of New Jersey, in the fall of 2011. The firm had been among Teneo’s earliest clients, and its collapse over bad European investments — while paying $125,000 a month for the firm’s public relations and financial advice — drew Teneo and the Clintons unwanted publicity.