Billionaire Mark Cuban completely deflated Fox’s Neil Cavuto on Tuesday afternoon after the business news host complained about the speaking fees received by former President Bill Clinton that went to the Clinton Foundation.
After Cavuto questioned Clinton receiving $250,000 for a speech, Cuban set him straight about what the market pays for ex-presidents..
“Look. You have to ask yourself what’s the market for a former president giving a speech, right?” he lectured. “So first of all, Ronald Reagan was paid more than a million dollars for speeches in 1989. He went to Japan and gave two speeches. Second of all, Bill Clinton made, I think it was $250K give or take, for a lot of speeches. I’ve made $250K for a bunch of speeches. For the most part, he gets paid a little more than I do, but the point is he was right inside the market. He wasn’t getting paid more or less than the market.”
When Cavuto attempted to make the case that Clinton received the money — that actually went to the Clinton Foundation — as part of a “pay for play” scheme, Cuban knocked that down too.
“In order to determine if there is any quid pro quo, there’s go to be some money destined for the trade-off,” Cuban said, before interrupting Cavuto’s claim that it looks suspicious, saying, “But Neil, they’ve been investigated more than anybody.”
TOKYO, May 9— Upset about recent strains in relations with the United States, Japan is making lavish plans to welcome former President Ronald Reagan to Tokyo later this year for 10 days of speeches, ceremonies and visits with business and political leaders.
But plans for Mr. Reagan's visit have also been clouded by the turbulent and uncertain Japanese political situation here and by reports that a bidding war had erupted over the right to serve as the former President's official sponsor. One person involved in the arrangements said the bidding had broken into the millions of dollars.
The size of the final bid was unclear, as was the size of Mr. Reagan's final negotiated fee. But Charles Z. Wick, former director of the United States Information Agency and a longtime Reagan associate, said Mr. Reagan would receive ''an attractive honorarium.'' He declined to give details. Mr. Wick has served as Mr. Reagan's emissary in arranging for the visit, which is to begin around Oct. 19.
A person involved in the negotiations said Mr. Wick had been concerned that the bidding over the sponsorship of the visit might implicate Mr. Reagan in Japan's spreading influence-peddling scandal, which led Prime Minister Noboru Takeshita to announce his resignation last month.
The scandal has involved illicit payments to Japanese politicians by major Japanese business corporations, and Mr. Wick was said to have been worried that Mr. Reagan could be seen as tainted if he accepted money indiscriminately from Japanese businesses.
Also involved in the scandal allegations has been former Prime Minister Yasuhiro Nakasone, who had earlier been expected to play a major role in the visit. An aide to Mr. Nakasone said this week that because the former Prime Minister is enmeshed in scandal allegations, it was unclear how much Mr. Nakasone would be able to see Mr. Reagan.
Mr. Reagan's travel arrangements were made firm last month when Mr. Wick designated the Fujisankei Communications Group, a leading information services conglomerate, as the official host and sponsor. The corporation plans to sponsor perhaps two speeches and have Mr. Reagan preside over a ceremony for achievement in the arts.
The money being spent by the Fujisankei Group is being kept secret, but a knowledgeable person said Fujisankei was not the highest bidder. He said another business, the Shuwa Corporation, a large real estate and construction company, was reported to have bid $5 million.
A spokesman for the Shuwa Corporation declined to comment. Asked about the $5 million bid, Mr. Wick, reached by telephone in Paris, said, ''I did not regard that as a serious offer.'' He said he had always regarded Fujisankei as the one serious sponsor and that ''there were no serious discussions or negotiations with anybody else.'' 'An Attractive Honorarium'
Mr. Wick said his objective in making the trip had been to arrange ''an attractive visit for the President and an attractive honorarium.''
It will not be Mr. Reagan's first trip abroad since he left office. He visited Canada for a speech to a business group in February, and he is going to London to deliver a speech next month; he is likely to go to Paris after London.
Both the Fujisankei and Shuwa concerns are led by businessmen who met with Mr. Reagan and Mr. Wick in Tokyo or Washington during the Reagan Administration. A spokesman for Shuwa said the company president, Shigeru Kobayashi, was also a member of a committee raising funds for Mr. Reagan's Presidential library.
In addition, Nobutaka Shikanai, founder and former chairman of the Fujisankei Communications Group, had set up an exclusive interview with Mr. Reagan for one of his newspapers in 1983 and had invited the President to visit Japan during a visit at the White House last year.
Mr. Wick said he had not discussed the arrangements for the visit with Mr. Shikanai or his associates until after Mr. Reagan and he left office on Jan. 20. He said this was done to avoid an appearance of conflict of interest.
After Cavuto questioned Clinton receiving $250,000 for a speech, Cuban set him straight about what the market pays for ex-presidents..
“Look. You have to ask yourself what’s the market for a former president giving a speech, right?” he lectured. “So first of all, Ronald Reagan was paid more than a million dollars for speeches in 1989. He went to Japan and gave two speeches. Second of all, Bill Clinton made, I think it was $250K give or take, for a lot of speeches. I’ve made $250K for a bunch of speeches. For the most part, he gets paid a little more than I do, but the point is he was right inside the market. He wasn’t getting paid more or less than the market.”
When Cavuto attempted to make the case that Clinton received the money — that actually went to the Clinton Foundation — as part of a “pay for play” scheme, Cuban knocked that down too.
“In order to determine if there is any quid pro quo, there’s go to be some money destined for the trade-off,” Cuban said, before interrupting Cavuto’s claim that it looks suspicious, saying, “But Neil, they’ve been investigated more than anybody.”
TOKYO, May 9— Upset about recent strains in relations with the United States, Japan is making lavish plans to welcome former President Ronald Reagan to Tokyo later this year for 10 days of speeches, ceremonies and visits with business and political leaders.
But plans for Mr. Reagan's visit have also been clouded by the turbulent and uncertain Japanese political situation here and by reports that a bidding war had erupted over the right to serve as the former President's official sponsor. One person involved in the arrangements said the bidding had broken into the millions of dollars.
The size of the final bid was unclear, as was the size of Mr. Reagan's final negotiated fee. But Charles Z. Wick, former director of the United States Information Agency and a longtime Reagan associate, said Mr. Reagan would receive ''an attractive honorarium.'' He declined to give details. Mr. Wick has served as Mr. Reagan's emissary in arranging for the visit, which is to begin around Oct. 19.
A person involved in the negotiations said Mr. Wick had been concerned that the bidding over the sponsorship of the visit might implicate Mr. Reagan in Japan's spreading influence-peddling scandal, which led Prime Minister Noboru Takeshita to announce his resignation last month.
The scandal has involved illicit payments to Japanese politicians by major Japanese business corporations, and Mr. Wick was said to have been worried that Mr. Reagan could be seen as tainted if he accepted money indiscriminately from Japanese businesses.
Also involved in the scandal allegations has been former Prime Minister Yasuhiro Nakasone, who had earlier been expected to play a major role in the visit. An aide to Mr. Nakasone said this week that because the former Prime Minister is enmeshed in scandal allegations, it was unclear how much Mr. Nakasone would be able to see Mr. Reagan.
Mr. Reagan's travel arrangements were made firm last month when Mr. Wick designated the Fujisankei Communications Group, a leading information services conglomerate, as the official host and sponsor. The corporation plans to sponsor perhaps two speeches and have Mr. Reagan preside over a ceremony for achievement in the arts.
The money being spent by the Fujisankei Group is being kept secret, but a knowledgeable person said Fujisankei was not the highest bidder. He said another business, the Shuwa Corporation, a large real estate and construction company, was reported to have bid $5 million.
A spokesman for the Shuwa Corporation declined to comment. Asked about the $5 million bid, Mr. Wick, reached by telephone in Paris, said, ''I did not regard that as a serious offer.'' He said he had always regarded Fujisankei as the one serious sponsor and that ''there were no serious discussions or negotiations with anybody else.'' 'An Attractive Honorarium'
Mr. Wick said his objective in making the trip had been to arrange ''an attractive visit for the President and an attractive honorarium.''
It will not be Mr. Reagan's first trip abroad since he left office. He visited Canada for a speech to a business group in February, and he is going to London to deliver a speech next month; he is likely to go to Paris after London.
Both the Fujisankei and Shuwa concerns are led by businessmen who met with Mr. Reagan and Mr. Wick in Tokyo or Washington during the Reagan Administration. A spokesman for Shuwa said the company president, Shigeru Kobayashi, was also a member of a committee raising funds for Mr. Reagan's Presidential library.
In addition, Nobutaka Shikanai, founder and former chairman of the Fujisankei Communications Group, had set up an exclusive interview with Mr. Reagan for one of his newspapers in 1983 and had invited the President to visit Japan during a visit at the White House last year.
Mr. Wick said he had not discussed the arrangements for the visit with Mr. Shikanai or his associates until after Mr. Reagan and he left office on Jan. 20. He said this was done to avoid an appearance of conflict of interest.
