Rockefeller impact investing wikipedia
This was the justification to reduce economic aid in Latin America. The Rockefeller report called for some aid to continue, but the report recommended creating more effective aid programs. He initiated the creation or expansion of over 22, miles 35, km of highway [80] including the Long Island Expressway , the Southern Tier Expressway , the Adirondack Northway , and Interstate 81 which vastly improved road transportation in the state of New York.
Rockefeller introduced the state's first support for mass transportation. He also created the State Department of Transportation. In taking over control of the Triborough Bridge and Tunnel Authority, Rockefeller shifted power away from Robert Moses , and in doing so became the first politician to win such a battle with the master builder Moses in decades. Under the New York MTA, toll revenue collected from the bridges and tunnels, which had previously been used to build more bridges, tunnels, and highways, now went to support mass transportation operations, thus shifting costs from general state funds to the motorist.
In one controversial move, Rockefeller abandoned one of Moses's most desired projects, a Long Island Sound bridge from Rye to Oyster Bay , in due to environmental opposition. Welfare and Medicaid In the area of public assistance the Rockefeller administration carried out the largest state medical care program for the needy in the United States under Medicaid ; achieved the first major decline in New York State's welfare rolls since World War II; required employable welfare recipients to take available jobs or job training; began the state breakfast program for children in low income areas; and established the first state loan fund for nonprofit groups to start day-care centers.
After quitting the campaign, Rockefeller backed Nixon and concentrated his efforts on introducing more moderate planks into Nixon's platform, partially succeeding in the Treaty of Fifth Avenue. The divorce was widely condemned by politicians, such as liberal Senator Prescott Bush of Connecticut, who condemned his infidelity, divorce, and remarriage. He then endured poor showings in several more of the party primaries before winning an upset in Oregon in May.
Rockefeller took a strong lead in the California primary, and his team seemed so assured of his victory that it cut advertising funds in the last days of his campaign. However, the birth of Rockefeller's child three days before the California primary put the divorce and remarriage issue back in the minds of voters, and on primary election day, Rockefeller narrowly lost the California primary and dropped out of the race.
At a discouraging point in the California primary campaign against Goldwater, his top political aide Stuart Spencer called on Rockefeller to "summon that fabled nexus of money, influence, and condescension known as the Eastern Establishment. He was booed and heckled for sixteen minutes while he stood firmly at the podium insisting on his right to speak.
Rockefeller was reluctant to support Goldwater in the general election. In the contest, Rockefeller again represented the liberals, Reagan representing the conservatives, and Nixon representing moderates and conservatives. Rather than formally announce his candidacy and enter the state primaries, Rockefeller spent the first half of , alternating between hints that he would run and pronouncements that he would not be a candidate.
Despite Rockefeller's efforts, Nixon won the nomination on the first ballot. In considering potential nominees, Rockefeller was one of three primary candidates. Bush , who would eventually become Vice President in his own right for two terms and President for one term.
Ford also felt he could demonstrate his own self-confidence by selecting a strong personality like Rockefeller for the number two spot. I felt there was a duty incumbent on any American who could do anything that would contribute to a restoration of confidence in the democratic process and in the integrity of government. Rockefeller was also persuaded by Ford's promise to make him "a full partner" in his presidency, especially in domestic policy. Although conservative Republicans were not pleased that Rockefeller was picked, most of them voted for his confirmation anyway; nevertheless, a minority bloc including Barry Goldwater , Jesse Helms and Trent Lott voted against him.
The New York Conservative Party also opposed his confirmation, despite the fact that its only elected member of the U. Congress then, James L. Buckley , supported him. The House confirmed his nomination to on December Rockefeller often seemed concerned that Ford gave him little or no power, and few tasks, while he was vice president.
Ford initially said he wanted Rockefeller to chair the Domestic Policy Council , but Ford's new White House staff had no intention of sharing power with the vice president and his staff. Rockefeller's attempt to take charge of domestic policy was thwarted by Chief of Staff Rumsfeld, who objected to policy makers reporting to the president through the vice president. When Rockefeller had one of his former aides, James Cannon, appointed executive director of the Domestic Council, Rumsfeld cut its budget.
Rockefeller was excluded from the decision making process on many important issues. When he learned that Ford had proposed cuts in federal taxes and spending he responded: "This is the most important move the president has made, and I wasn't even consulted. Ford also put Rockefeller in charge of his " Whip Inflation Now " initiative.
This residence had previously been the residence of the Chief of Naval Operations. Previous vice presidents had been responsible for maintaining their own homes at their own expense, but the necessity of full-time Secret Service security had made this custom impractical.
Rockefeller already had a well-secured Washington residence and never lived in the home as a principal residence, although he did host several official functions there. His wealth enabled him to donate millions of dollars of furnishings to the house. Instead, he continued to use his own Gulfstream which had the callsign Executive Two as a private aircraft.
Rockefeller felt he was saving taxpayer money this way. Finally the Secret Service convinced him it was costing more to fly agents around separately for his protective detail than it would for him to travel on Air Force Two with them. In November , Rockefeller offered to withdraw. Ford eventually concurred, and in explaining his decision Rockefeller said that he "didn't come down to Washington to get caught up in party squabbles which only make it more difficult for the President in a very difficult time Ford considered several candidates, including moderate-to-liberal Republicans such as William Ruckelshaus , and moderate-to-conservative Republicans including Bob Dole , and eventually decided upon Dole as the most acceptable to conservatives.
Ford later said not choosing Rockefeller was one of his biggest mistakes, [] and "one of the few cowardly things I did in my life. In what would become an iconic photo of the campaign, Rockefeller appeared to be responding to hecklers at a rally in Binghamton, New York , with a raised middle finger. When Rockefeller's camp saw that the obscene gesture story was popular to many Republicans, they stopped denying that that had been his intent. Writing about the moment 20 years later, Michael Oricchio of the San Jose Mercury News said the action became known euphemistically as 'the Rockefeller gesture'.
Political ideology Main article: Rockefeller Republican Reflecting his interdisciplinary approach to problem solving, Rockefeller took a pragmatic approach to governing. Rather, he considered himself a practical problem solver, much more interested in defining problems and finding solutions around which he could unite support sufficient to ensure their enactment in legislation than in following either a strictly liberal or strictly conservative course.
Rockefeller's programs did not consistently follow either liberal or conservative ideology. In the later years of his administration "conservative decisions on social programs were paralleled by liberal ones on environmental issues. As governor, Rockefeller spent more than his predecessors.
Rockefeller had good relations with unions, especially the construction trades, which benefited from his extensive building programs. He also supported the U. As a result of Rockefeller's policies, some conservatives sought to gain leverage by creating the Conservative Party of New York.
The small party acted as a minor counterweight to the Liberal Party of New York. They were often used to issue bonds in order to avoid the requirement of a vote of the people for the issuance of a bond; such authority-issued bonds bore higher interest than if they had been issued directly by the state.
He and his four brothers established the Rockefeller Brothers Fund , a philanthropy, in ; he served as a trustee from — and — and as president in AIA was a philanthropy for the dissemination of technical and managerial expertise and equipment to underdeveloped countries to support grass-roots efforts in overcoming illiteracy, disease and poverty. He also served as treasurer, —, and president, — and — In Rockefeller was a member of the committee selecting art for the new Rockefeller Center.
For the wall opposite the main entrance of 30 Rockefeller Plaza Nelson Rockefeller wanted Henri Matisse or Pablo Picasso to paint a mural because he favored their modern style , but neither was available. Diego Rivera was one of Nelson Rockefeller's mother's favorite artists and therefore was commissioned to create the huge mural. He was given a theme: New Frontiers. Rockefeller wanted the painting to make people pause and think.
The sketch featured an anonymous man at the center. However, when it was painted the work caused great controversy due to the inclusion of a painting of Lenin depicting communism just off-center. The work was paid for on May 22, , and immediately draped. Rockefeller suggested that the fresco could be donated to the Museum of Modern Art, but the trustees of the museum were not interested.
Rivera responded by saying that it was "cultural vandalism". Rockefeller was a noted collector of both modern and non-Western art. He continued his mother's work at the Museum of Modern Art as president, and turned the basement of his Kykuit mansion into a gallery while placing works of sculpture around the grounds an activity he enjoyed personally supervising, frequently moving the pieces from place to place by helicopter. Rockefeller's early visits to Mexico kindled a collecting interest in pre-Columbian and contemporary Mexican art, to which he added works of traditional African and Pacific Island art.
His personal collection formed the core of the collection. In he gave the museum's collection to the Metropolitan Museum of Art where it became the Michael C. Rockefeller Collection. In , Alfred A. Knopf published a book on primitive art from Rockefeller's collection. In he founded Nelson Rockefeller Collection, Inc.
In the introduction to the NRC catalog he stated he was motivated by his desire to share with others "the joy of living with these beautiful objects. Michael Rockefeller disappeared in New Guinea in November He is presumed to have drowned while trying to swim to shore after his dugout canoe capsized.
Nelson and Mary Rockefeller were divorced in They had two sons together: Nelson Aldrich Rockefeller Jr. With his first wife, Rockefeller had lived at the three top floors at Fifth Avenue. After his divorce and second marriage, Mary Rockefeller kept the two top floors of the triplex apartment. The two spaces connected via a flight of six steps. Rockefeller engaged in numerous extramarital affairs during his marriages.
His first wife resented his adultery, which was one of the main reasons for their divorce. James Slater Murphy, with many in the Rockefeller inner circle believing her to be Nelson Rockefeller's daughter. In his diary, Rockefeller intimate Ken Riland used a tone of knowing irony when mentioning Malinda, putting the word stepfather in quotes.
Ellen, the wife of Wally Harrison, the architect and Rockefeller confidant, claimed that Malinda's parentage was an open secret among Rockefeller associates. On January 29, , family and close friends gathered to inter his ashes in the private Rockefeller family cemetery in Sleepy Hollow, New York. Persico said: "It became known that [Rockefeller] had been alone with a young woman who worked for him, in undeniably intimate circumstances, and in the course of that evening had died from a heart attack.
Neither Marshack nor the family has ever commented publicly on the circumstances surrounding Rockefeller's death. Rockefeller Award, Purchase College School of the Arts, presented annually to five individuals who have distinguished themselves through their contributions to the arts or the environment.
Governor Nelson A. This ensures that investors are not simply engaging in concessionary lending. The first social impact bond was originated by Social Finance UK in , [1] [2] supported by the Rockefeller Foundation , structured to reduce recidivism among inmates from Peterborough Prison. Based on the SIB model, a DIB creates a contract between private investors and donors or governments who have agreed upon a shared development goal. Investors advance fund development programmes with financial returns linked to verified development goals.
UBS Optimus Foundation stands to receive their initial investment back plus a return on investment based on the performance of the program.
0 comments