McKinsey & Company
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McKinsey & Company is a global management consulting firm founded in 1926 by James O. McKinsey.[1] According to the company's website, McKinsey & Company works with "leading organizations across the private, public and social sectors."[2] The company is headquartered in New York, New York.[3]
Ties to Pete Peterson's "Fix the Debt"
The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." McKinsey & Company is part of the Campaign to Fix the Debt as of February 2013.
This article is part of the Center for Media and Democracy's investigation of Pete Peterson's Campaign to "Fix the Debt." Please visit our main SourceWatch page on Fix the Debt.
| About Fix the Debt |
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The Campaign to Fix the Debt is the latest incarnation of a decades-long effort by former Nixon man turned Wall Street billionaire Pete Peterson to slash earned benefit programs such as Social Security and Medicare under the guise of fixing the nation's "debt problem." Through a special report and new interactive wiki resource, the Center for Media and Democracy -- in partnership with the Nation magazine -- exposes the funding, the leaders, the partner groups, and the phony state "chapters" of this astroturf supergroup. Learn more at PetersonPyramid.org and in the Nation magazine.
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Ties to the American Legislative Exchange Council
McKinsey & Company has been a corporate funder of the American Legislative Exchange Council (ALEC). [4]
| About ALEC |
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ALEC is a corporate bill mill. It is not just a lobby or a front group; it is much more powerful than that. Through ALEC, corporations hand state legislators their wishlists to benefit their bottom line. Corporations fund almost all of ALEC's operations. They pay for a seat on ALEC task forces where corporate lobbyists and special interest reps vote with elected officials to approve “model” bills. Learn more at the Center for Media and Democracy's ALECexposed.org, and check out breaking news on our ExposedbyCMD.org site.
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Criticism
McKinsey showcased Enron as its model company for years, and Enron was its principal client for several years.[5] Enron imploded in a scandal that resulted because of its chief executive and chairman, Kenneth Lay. Lay was indicted on 11 counts on securities fraud and related charges. He took a regional natural gas pipeline business and turned it into an energy conglomerate with a market capitalization of $70 billion, betting the future on unregulated energy markets. This led to the downfall of the Enron corporation when the scandal broke in 2001.[6]
- George Monbiot, "The Shadow Government", Guardian, 13 March 2012.
- Stewart Player and Colin Leys, McKinsey’s unhealthy profits, Red Pepper, July 2012.
Contact Information
55 East 52nd Street, 21st Floor[3]
New York, NY 10022
(212) 446 7000
Resources and articles
Related Sourcewatch articles
- George Starcher
- Jon Cummings - director
- Dominic Barton - global MD
- Peter Attia
Featured SourceWatch Articles on Fix the Debt
- Fix the Debt Portal Page
- Fix the Debt's Leadership
- Fix the Debt's Partner Groups
- Fix the Debt's State Chapters
- Fix the Debt's Lobbyists
- Fix the Debt's Parent Group
- Fix the Debt's Corporations
- Pete Peterson
- Peter G. Peterson Foundation
- America Speaks
- Simpson-Bowles Commission
- Erskine Bowles
- Alan Simpson
- Social Security
- Medicare
- Medicaid
References
- ↑ "History", McKinsey & Company, Accessed February 5, 2013.
- ↑ "Overview", McKinsey & Company, Accessed February 5, 2013.
- ↑ 3.0 3.1 "North America", McKinsey & Company, Accessed February 5, 2013.
- ↑ Clearinghouse on Environmental Advocacy and Research, project of the Environmental Working Group, Information on American Legislative Exchange Council, archived organizational profile, archived by Wayback Machine December 2, 2000, accessed August 19, 2011
- ↑ Malcolm Gladwell, The Talent Myth, 22 July 2002.
- ↑ Michael Chandler and Lowell Bergman, "Blackout" transcript - program #1916, PBS Frontline, originally aired June 5, 2001
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