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About Bernard Schwartz
Bernard L. Schwartz
Bernard L. Schwartz is chairman and CEO of BLS Investments, LLC, a private investment firm. He also manages the investments of the Bernard and Irene Schwartz Foundation, which mainly supports higher education, medical research and New York City-based cultural organizations. He promotes the development of U.S. economic policy initiatives through investment in educational institutions, think tanks and advocacy organizations. Mr. Schwartz is also an active supporter of the Democratic Party.
Prior to establishing BLS Investments in March 2006, Mr. Schwartz served for 34 years as chairman of the board and chief executive officer of Loral Space & Communications and its predecessor company, Loral Corporation. In 1972, Mr. Schwartz took the helm at Loral which became, under his leadership, a Fortune 200 designer and manufacturer of advanced, state-of-the-art systems, hardware and systems integration for the defense and aerospace industries. Through its successful strategy of acquisition and internal development, the company achieved extraordinary growth, posting 96 consecutive quarters of increased earnings from 1972 to 1996. Over that period, Loral made more than 40 acquisitions and its market value rose from $7.5 million to $15 billion. At its height, the company employed more than 30,000 employees in numerous countries around the world. In 1996, Mr. Schwartz directed the divestment of Loral’s defense businesses and formed Loral Space & Communications, one of the world’s largest satellite manufacturing and satellite services companies. In connection with this transaction, Loral collectively paid a dividend to its shareholders of more than $9 billion, primarily in cash and the balance in stock of the new Loral Space & Communications. In addition, Bernard Schwartz personally established a fund of more than $18 million for distribution to employees of Loral to mitigate any negative effects on those employees from the sale of Loral's defense businesses.
In recognition of his achievements and extensive experience in industry and global finance, Mr. Schwartz is often called upon to express his views or provide counsel on matters ranging from U.S. economic growth and competitiveness to technology and infrastructure investment. At a number of institutions, he has initiated programs that rigorously examine current U.S. economic performance, in the process challenging current orthodoxy to arrive at innovative policy proposals that will further U.S. economic and technological preeminence. The programs employ lectures, position papers, conferences and debates, and tap the expertise of leading economists, business people and policy makers. The policy proposals that emerge from these programs are broadly distributed to government officials, members of Congress, educators, researchers, the media and the general public.
Educational and Economic Policy Initiatives
Mr. Schwartz has established the following programs that advocate leveraging America’s economic success to advance the development of economic growth and wealth accumulation policies.
- New School University, New York City: Schwartz Center for Economic Policy Analysis and a Chair in Economics and Policy. The Center is the University’s economic policy research arm, focusing on economic growth, employment and inequality. Mr. Schwartz serves as vice chairman of the board of trustees of New School University and also has established a matching grant merit scholarship fund at the New School’s Lang College.
- Paul H. Nitze School of Advanced International Studies (SAIS) at Johns Hopkins University, Washington, DC: Bernard Schwartz Globalization Initiative and Forum on Constructive Capitalism, a high-level lecture and symposia series that looks at the consequences of globalization for social prosperity and harmony. Mr. Schwartz also has established the Bernard Schwartz Chair in Political Economy, held by Dr. Francis Fukayama, and serves on the SAIS Advisory Council.
- New America Foundation, an independent, non-partisan public policy institute based in Washington, DC: Established the Bernard L. Schwartz Fellowship Program, which provides economic, professional and intellectual support to leading voices in the national policy debate.. Mr. Schwartz also serves on its Board of Directors.
- Council on Foreign Relations: Established the Senior Fellowship in Business and Foreign Policy, which focuses on the global integration of financial markets and their significance for U.S. economic and foreign policy. In addition, the accompanying lecture series addresses the relationship between business and government in making and improving foreign policy. Mr. Schwartz also serves as a member of the Council.
- The Brookings Institution, Washington, DC: Formed the Bernard L. Schwartz Forum on U.S. Competitiveness, which brings together business executives, government officials, entrepreneurs, policy makers, labor leaders and academics to explore solutions to the challenge of keeping the U.S. competitive. In relation to the Forum, Mr. Schwartz also established a Chair in International Economics.
- Tel Aviv University, Israel: Established the program and Chair for the Study of Global Competitive Markets, which promotes research and debate on a free marketplace, economic and political issues. Mr. Schwartz also has established a Chair and Program in Information Nanotechnology that conducts leading-edge research in micro- and nanotechnology.
Political Activism
Mr. Schwartz is a life-long supporter of the Democratic Party and devotes time and resources to the development of policy and strategy at various advocacy organizations, among them:
- Third Way, Washington, DC: Trustee and program sponsor at this progressive non-partisan advocacy organization that works with elected officials, candidates and others to create policies connected with our national security, economics and culture and to bring those ideas into the public debate.
- NDN: Sponsors NDN programs that advance a 21st century progressive vision for America focusing specifically on globalization, competitiveness and productivity.
- Center for Strategic and International Studies (CSIS), Washington, DC: Supports this foreign policy think tank’s Commission on Public Infrastructure, which seeks to raise public awareness and dialogue about the state of the nation’s infrastructure, including ports, mass transit systems, broadband networks, air traffic control systems and water resources.
- Center for National Policy, Washington, DC: Sponsors programs at this non-partisan public policy organization that works with our nation’s leaders to identify encourage the development of innovative policy and programs that address the challenges facing America’s national security.
- Democratic Leadership Council, Washington DC: Trustee and chairman of the editorial board of advisors of Blueprint, the Council’s flagship publication that examines the key issues facing the nation in the 21st century
- Grassroots Democrats, Washington, DC: Supports this independent, non-profit political organization that works to strengthen state Democratic Party infrastructure and financial resources.
- Fair Elections Legal Network: Supports this national, nonpartisan network consisting of experienced private and organizational election lawyers who are actively engaged in efforts to remove legal or administrative impediments to broad voter participation.
Philanthropic Activities
Through the Bernard and Irene Schwartz Foundation, Mr. Schwartz and his family support numerous charitable organizations, most of them based in New York City. A description of selected programs follows.
Education
- Baruch College, New York City: Established the Bernard L. Schwartz Communication Institute to promote oral, written and computer-mediated communication into the curriculum at Baruch. Mr. Schwartz also serves as a Trustee of the Baruch College Fund.
- Thirteen/WNET Educational Broadcasting Corporation: Serves as a Trustee and supports various news or cultural programs for the most-watched public television station in the U.S.
- Clinton Global Initiative: Supports a number of programs for CGI, a forum founded by President Bill Clinton and the William J. Clinton foundation to help the world move beyond globalization to a more integrated community of shared benefits, responsibilities and values.
- Recently, Mr. Schwartz partnered with Thirteen/WNET Educational Broadcasting Corporation and the Clinton Global Initiative to produce a ninety-minute documentary film, entitled Back to School, that was broadcast nationally on September 5, 2006 through the Public Broadcasting Network (PBS). This documentary and its associated activities examine the inequities of global education and raise change-effecting awareness of the crucial social and economic benefits of educating children – especially girls – worldwide.
Medical Institutions & Medical Research
- New York University Hospitals Center: Serves as trustee, and in 2006, established the Hospital’s Center for Biomedical Imaging. In 2004, he established the Neurointerventional Radiology Center at NYU’s Tisch Hospital. Since 1986, Mr. Schwartz has supported a humanistic medicine program at NYU established in his name and, more recently, helped to found the NYU Urological Research Foundation.
- Johns Hopkins School of Medicine: Funds a distinguished chair in urologic oncology at the Johns Hopkins School of Medicine.
New York City-based Cultural Organizations
- New-York Historical Society: Serves as a member of the board, sponsors the Distinguished Speakers Series and funds a collaborative program between the Society and the New School that provides for two post-doctoral Fellows in American History and four summer internships.
- New York Film Society: Serves as vice chairman of one of the world’s pre-eminent film presentation organizations.
- Asia Society, New York City: Created the Bernard Schwartz Resident Fellows Program, which builds awareness and promotes a public dialogue on important issues on the growing importance of Asia in the global economy.
Additional Background
Mr. Schwartz graduated from City College of New York with a Bachelor of Science degree in finance and holds an honorary Doctorate of Science degree from the college. He was born in Brooklyn and has resided in New York City all of his life. He and his wife are the parents of two daughters and have four grandchildren.
October 2007
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