"James Biden was joining HillStone just as the firm was starting negotiations to win a massive contract in war-torn Iraq. Six months later, the firm announced a contract to build 100,000 homes. It was part of a $35 billion, 500,000-unit project deal won by TRAC Development, a South Korean company. HillStone also received a $22 million US federal government contract to manage a construction project for the State Department.
David Richter, son of the parent company’s founder, was not shy in explaining HillStone’s success in securing government contracts. It really helps, he told investors at a private meeting, to have “the brother of the vice president as a partner,” according to someone who was there.
The Iraq project was massive, perhaps the single most lucrative project for the firm ever. In 2012, Charlie Gasparino of Fox Business reported that HillStone officials expected the project to “generate $1.5 billion in revenues over the next three years.” That amounted to more than three times the revenue the company produced in 2011.
A group of minority partners, including James Biden, stood to split about $735 million. “There’s plenty of money for everyone if this project goes through,” said one company official.
The deal was all set, but HillStone made a crucial error. In 2013, the firm was forced to back out of the contract because of a series of problems, including a lack of experience by Hill and TRAC Development, its South Korean associate firm. But HillStone continued doing significant contract work in the embattled country, including a six-year contract with the US Army Corps of Engineers.
James Biden remained with Hill International, which accumulated contracts from the federal government for dozens of projects, including projects in the United States, Puerto Rico, Mozambique and elsewhere."
"I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy. I mean, that's a storybook, man."
— Joe Biden on Obama.
Socialism is just the modern word for monarchy.
D.C. has become a Guild System with an hierarchy and line of accession much like the Royal Court or priestly classes.
Private citizens are perfectly able of doing a better job without "apprenticing".
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