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Bernard Leon Schwartz (born December 13, 1925) 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 was born in Brooklyn, New York and grew up in a Jewish Family in the Bensonhurst neighborhood of Brooklyn. Schwartz graduated from Townsend Harris High School in NYC. He holds a B.S. in finance and an honorary doctorate of science from City University of New York. He is a World War II veteran. After school, he worked as an accountant eventually becoming a partner at a Wall Street firm. He then went on to serve as a vice president of APL Corporation (NYSE) and then resident of Relianec Group, Inc. (formerly Leasco) for four years before joining Loral in 1972.

Political activities

Schwartz is a 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. Loral settled the missile transfer matter with the Justice Department in 2002, paying a $14 million fine and admitting no wrongdoing.

Schwartz has donated US$1 million to Priorities USA Action, a Super PAC supporting Democratic presidential candidate Hillary Clinton.

Personal life

Schwartz was married to the former Irene Zanderer and lives in New York City; she died in 2014. They had two daughters and four grandchildren. Schwartz is a member of the United Jewish Appeal Federations's real estate committee.

References

1. Bernard Schwartz Center for Economic Policy Analysis: "About Bernard Schwartz" Archived 2015-12-22 at the Wayback Machine retrieved December 20, 2015
2. Dave Eisenstadt (1 May 1997). "Orbiter of Power". Mother Jones. Retrieved 13 December 2015.
3. 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.
4. 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.
5. 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 ...
6. The Washington Times. January 10, 2002. Loral settles charge it gave China data
7. "The Top Donors Backing Hillary Clinton's Super PAC". Forbes. May 27, 2016.
8. Baruch College Alumni Magazine: "In Memoriam: Fall 2014–Winter 2015
9. United Jewish Appeal Federation Real Estate Executive Council: Members retrieved December 20, 2015

External links

• Official website

• 1925 births
• Living people
• American philanthropists
• American Jews
• American chief executives
• People from Brooklyn
• Loral Space & Communications
• New York Democrats
• American real estate businesspeople