As of now, I am in control here, in the White House

Obama Vacation Residence Owned by Corporate “Restructurer”

When he vacations on Martha’s Vineyard, President Obama will stay at the $7.6 million home of a wealthy financier who specializes in corporate restructuring, the type of thing Obama and his allies mercilessly slammed Mitt Romney for during the 2012 campaign.

The owner, David Schulte, is the founder of Chilmark Partners, a company that has been “been providing companies, creditors, and other key stakeholders with clear, careful advice in complex restructuring situations for more than 27 years,” according to its website. The firm also “has decades of mergers and acquisition  experience, both in distressed contexts and for healthy companies.” Schulte “has more than 30 years of restructuring experience” and before Chilmark “created and ran Salomon Brothers Corporate Reorganization Group.”

Bain Capital, which Romney led, took controlling stakes in companies and restructured them – sometimes painfully – in an effort to profit from a newly lean and mean corporation. For this basic exercise in capitalism, Romney was relentlessly pilloried during the 2012 campaign as an iniquitous corporate looter by Obama and his Democratic allies.

“That’s been his philosophy in the private sector; that’s been his philosophy as governor; that’s been his philosophy as a presidential candidate,” Obama said during the October 16, 2013 presidential debate in Hempstead, New York. “You can make a lot of money and pay lower tax rates than somebody who makes a lot less. You can ship jobs overseas and get tax breaks for it. You can invest in a company, bankrupt it, lay off the workers, strip away their pensions, and you still make money.”

But Obama’s moral objections to Romney’s behavior apparently end at the door of his exquisite new vacation rental property.

The president arrives on Martha’s Vineyard Saturday and departs August 18.

Share on FacebookTweet about this on TwitterShare on RedditShare on LinkedInEmail this to someone

31 Responses to Obama Vacation Residence Owned by Corporate “Restructurer”

    • Where’s the “Rev” Sharpton? He’s got an open invite to whatever “crib” Obama is chillin’ at, right?

      Al should show up with his busloads to Obama’s Martha’s Vineyard digs toting signs proclaiming “Justice for Mitt” — or perhaps “Justice for that white kid on the bus pummeled by three kids who could be Obama’s sons because whitey didn’t like their illegal drugs — you know, like the ones Obama used”

  1. Just another lapse in memory, I’m sure…he was certainly right about one thing by having a transparent administration, and certainly doesn’t try to hide it.
    Right Joe Biden?
    Joe?
    Joe?
    Anyone seen Joe?

    • With the exception of Clinton, President from as far back as FDR had their own homes and summer residences to retreat to when looking to escape Washington. Yes there was Camp David, but sometimes it’s good to just go home.

      BO & MO have a home in Chicago. But heaven forbid they even attempt to visit it for more than 2 days! It’s not the palace they live in now nor places they have visited around the world. They will never go back to settle there.

      Do understand I do not deny BO & MO the right to a family vacation, but does it have to be in places that just smacks the American public of hypocrisy?

      • I thought that some Democrats got together and purchased a $35 million home for the Obamas in Hawaii. It was most the deed of Penny Pritzger.

        • If you try and do a search for the “new Hawaiian home” you get all the garbage about them buying up to the election. Then, nada. It’s like the buy fell through because BO got re-elected. I would say looking at it now, it was a ploy to get the voting base riled up to go to the polls and save his election. Funny how you look at things differently after a few months of silence.

          Anybody know if the house was bought??

      • The whole Obama “vacation” thing is curious; they’re going from one guarded house to another, and taking their employees with them so that work continues unimpeded. The O’s don’t seem to be the boating/fishing/swimming types, nor are they the kind who would enjoy the quiet pleasures of a mountain cabin experience.
        Choosing M.V. must have more to do with their Black friends owning homes there, and the opportunity to socialize without all the WhiteHouse hoopla and security.

        There are probably security concerns about the O’s returning to visit their home in Chicago, but there is nothing keeping the multi-millionaire Obamas from renting an estate on a yearly basis so that they, too, could go “home” on weekends or when Congress isn’t working.

        • The day he was elected president, the SS upgraded the home protection detail and surrounding block. The home security system was updated, and has an assigned caretaker team in place. Granted it’s not the safest place in the world, but I think they do not want to subject their kids to the local area anymore. Chicago was just a stepping stone. Am still puzzled about Hawaii, MO would be too far from the main stream if they went there after the end of office.

  2. And now they’re going to restructure and loot an entire country. I would say it was brilliant if I was not the one getting kick to the curb.

  3. “But Obama’s moral objections to Romney’s behavior apparently end at the door of his exquisite new vacation rental property.”

    Actually it ended when he defeated Romney in the election. The following day he then turned around and just thumbed his nose to the rest of America. He could care less of any promises made on the campaign trail other than to award all his contributors and yes people with jobs in his administration, on the govt payroll or subtle kick backs in govt contracts.

    MV is a haven for allot of $$$$ Democrats. So with all the locals and vacationers whining about his visit I have two thing to say – (1) – call 1-800-WAAAAAAA and (2) Your state soundly voted for him so enjoy the ride!

  4. “But Obama’s moral objections to Romney’s behavior apparently end at the door of his exquisite new vacation rental property.”

    Preezy Revenge has morals? Could have fooled me. This behavior is typical of the amoral ruling class. Case in point – on their way out the door to enjoy their month long taxpayer-funded summer vacation, congress members made a pact with the devil to exempt themselves from the effects of the behemoth Obamacare law they enacted. I’m just wondering #WheresMyWaiver???

  5. Not surprising…just more hypocrisy and BS for the MSM to ignore.

    Minor correction, Keith – the debate was October 16, 2012 (not 2013).

  6. […] Alongside the scenic views, heavenly biking (just made for riding ladies bikes in Teva sandals) and extensive golf options, the four-bedroom Chilmark home with guest house just off the Vineyard’s main drag comes complete with an education in corporate finance. It seems Obama buddy Schulte, who has yet to confirm that the President will be using his vacation home, made the money to pay for it through corporate restructuring of the sort, if you can recall the 2012…. […]

  7. The government maintains a lovely vacation retreat for the sitting President: Camp David. But that’s apparently not good enough for them. Oh, no, how dare they be forced to suffer vacationing at the same old private luxury resort for several years in a row.

    Poor folks who feel lucky to get a couple days at a local lakefront don’t quite understand.