Bernard L. Schwartz

Bernard Leon Schwartz (born December 13, 1925, Brooklyn, New York) was the Chairman of the Board and CEO of Loral Space & Communications for 34 years, Chairman and CEO of K&F Industries, Inc., and president and CEO of Globalstar Telecommunications. He retired from Loral and his positions at its various subsidiaries and affiliates as of March 1, 2006. He is currently the Chairman and CEO of BLS Investments, his own investment firm located in Manhattan.

Biography

Schwartz grew up in the Bensonhurst neighborhood of Brooklyn. He is a World War II veteran and lifelong Democrat. According to NBC News, from 1992 to 1996 he was the largest single contributor to the Democratic Party. In 1996 he celebrated his 71st birthday with Bill and Hillary Clinton at the White House. In 1998 Schwartz became embroiled in a campaign donations scandal and an alleged transfer of missile technology to China that occurred in 1996. He was exonerated of any wrongdoing in the campaign finance matter after a Justice Department investigation.[1][2][3] Loral settled the missile transfer matter with the Justice Department in 2002, paying a $14 million fine and admitting no wrongdoing. [4]

Prior to joining Loral in 1972, Schwartz was president of Relianec Group, Inc. (formerly Leasco) for four years. He had previously served as senior vice president of APL Corporation (NYSE) and was a partner in an accounting firm on Wall Street.

Schwartz graduated from Townsend Harris High in NYC. He holds a B.S. in finance and an honorary doctorate of science from City University in New York.

Schwartz, a lifelong New Yorker, is married to the former Irene Zanderer. They have two daughters and four grandchildren.

References

  1. ↑ Rempel, William C.; Alan C. Miller (May 23, 2000). "Internal Justice Memo Excuses Loral From Funds Probe...". Los Angeles Times. p. A15. Retrieved 2009-08-07.
  2. ↑ DAVID JOHNSTON (June 9, 2000). "Justice Dept. Memo Says Donor Was Cleared". The New York Times. Today, a Loral spokesman expressed satisfaction that the documents had finally come to light. We are pleased that the facts in this case have now been made public and that Mr. Schwartz and Loral are shown to be innocent of any wrongdoing, said Thomas B. Ross, a company vice president. [...] Mr. Specter said in an interview that he did not realize at the hearing that Mr. Schwartz had been exonerated by the Justice Department because he had not seen Mr. La Bella's addendum.
  3. ↑ Michael Hirsh (2003). At War with Ourselves: Why America is Squandering Its Chance to Build a Better World. Oxford University Press. pp. 150–. ISBN 978-0-19-515269-2. Bernard Schwartz was exonerated of all wrongdoing when the Justice ...
  4. ↑ The Washington Times. January 10, 2002. Loral settles charge it gave China data

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