FOR YOUR AWARENESS — SEN. RAND PAUL (R-KY.) tweeted stories from the Washington Examiner and Breitbart, which both called into question his neighbor’s story that their altercation was based on a disagreement on landscaping. INQUIRING MINDS WANT TO KNOW — So, what really happened? Breitbart http://bit.ly/2zoDuL1 … Washington Examiner http://washex.am/2ykHjgo
Good Thursday morning. FROM 30K FEET — There is trouble brewing on Republicans’ push for tax reform. Not only will the Senate Republicans package being released today differ significantly from the House bill — Trump said Democrats will like it better! — but House Ways and Means Committee Chairman Kevin Brady is dealing with his own issues over concerns the bill provides massive tax cuts for corporations while individual industries are lobbying to keep their own tax breaks. To further complicate things, Republicans have a massive revenue shortfall they need to plug up. STILL IN THE MIX: Including a repeal of the individual mandate to buy health insurance, which raises shy of $400 billion in revenue, but would complicate the political calculus in the Capitol.
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OF COURSE: Tax reform will have a million twists and turns, as does any massive legislation, before getting passed. But any delay on the House’s schedule could complicate the White House’s timeline to pass an overhaul of the tax code before the end of the year. Much of this is choreographed — House and Senate are in close touch — but lawmakers’ reaction to two different bills cannot be predicted.
— TWO THINGS WORKING IN THEIR FAVOR: The Republican drubbing Tuesday night at the polls has GOP lawmakers very nervous about their own reelection prospects and facing voters without a single legislative accomplishment. Read Kyle Cheney and Seung Min Kim. http://politi.co/2ztzEzN
… AND — POLITICO/MORNING CONSULT POLL: “Poll: Support for GOP tax plan ticks down but remains positive,” by Steven Shepard: “Among registered voters who said they have seen, read or heard about the tax proposal, 45 percent support the proposal, down from 48 percent last week. The percentage of voters who have heard about the proposal who oppose it held steady at 36 percent, the poll shows. … The most popular element of the tax bill is increasing the child tax credit from as much as $1,000 per child, to $1,600 per child: Three-in-five voters (60 percent) say it should be in the bill.” http://politi.co/2zqgMlH
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ABOUT THE HOUSE WHIP COUNT — RACHAEL BADE: “GOP leadership will whip the tax bill early next week to determine how many votes they still need. They’re also discussing whether to hold the chamber in session until the tax bill passes — perhaps even through the weekend. Leaders have their work cut out for them. While they won [Rep. Tom] MacArthur, they just lost Rep. Darrell Issa (R-Calif.), whose defection on Tuesday shocked senior Republicans.
“Issa and several New York Republicans are pushing to restore the state and local tax deduction frequently claimed by their constituents. Rep. Dan Donovan, another such holdout, said he and fellow Empire State Reps. Peter King and Lee Zeldin have submitted requested changes on the matter to Ways and Means.” http://politi.co/2iGwaQw
— MORE DETAILS: BRIAN FALER, SEUNG MIN KIM and JOSH DAWSEY: “Senate Republicans, meanwhile, plan to unveil a tax plan on Thursday that sharply diverges from the House GOP’s plan, including by not fully repealing the estate tax, eliminating the state and local tax deduction and possibly changing a tax cut for unincorporated ‘pass-through’ companies so it is more palatable to the small business lobby than the House legislation. GOP leaders will brief the conference on the details on at 11:30 a.m. Thursday in the Strom Thurmond Room at the Capitol, according to two sources.” http://politi.co/2zq291E
— ON THE STATE AND LOCAL TAX DEDUCTION: In the House, Republicans have loads of lawmakers from high-tax states like New Jersey, New York and California, so they have to find a solution for the deductibility of state and local taxes. In the Senate, New York, New Jersey and California are all represented by Democrats, so the GOP doesn’t have the same incentive to fix that problem.
CATCHING YOU UP ON TRUMP ABROAD …
— HIGHLIGHTS FROM JOINT PRESSER WITH CHINESE PRESIDENT XI JINPING: Trump called the U.S.-China trade relationship “very unfair and one-sided,” per Andrew Restuccia. “But I don’t blame China, after all, who can blame a country for taking advantage of another country for the benefit of its citizens.” Instead, Trump blamed past U.S. administrations for the trade problems. Further, he said the U.S.-China trade relationship “just doesn’t work” and “is just not sustainable.”
— ON NORTH KOREA: Trump said, “China can fix this problem easily and quickly,” and called on the Chinese president to “work very hard on it.”
JUST POSTED — JOSH ROGIN in WaPo, “Inside the drive to ‘make a deal’ with North Korea”: “Secretary of State Rex Tillerson and his top North Korea official, Joseph Yun, have a concrete idea of how to get from here to there. Yun told an audience at the Council on Foreign Relations on Oct. 30 that if North Korea halted nuclear and missile testing for about 60 days, that would be the signal the United States needs to resume direct dialogue with Pyongyang. Yun’s remarks, which were off the record, were described by two attendees. Yun declined to comment.” http://wapo.st/2iH7jMr
THE FALLOUT FROM TUESDAY NIGHT’S ELECTION …
— “GOP faces wrenching call: Running with or away from Trump,” by Alex Isenstadt: “Sweeping losses in Tuesday’s elections have exacerbated a growing rift inside the GOP over whether the party’s candidates should embrace President Donald Trump in next year’s midterms – or make a clean break. With Trump’s approval ratings cratering in swing states across the country, some senior party strategists are imploring lawmakers to abandon the president. Others argue that shunning Trump and his populist base is simply out of the question and that anything other than a full embrace of the president will spell electoral disaster.
“In the Virginia gubernatorial race, Republican Ed Gillespie tried to have it both ways – with disastrous consequences. Gillespie, who privately agonized about the degree to which Trump should be involved in the contest, refused to campaign with the president. But at the same time, he trumpeted Trump’s culture war issues in ads. White House advisers spent Wednesday combing through the election results and fuming about Gillespie’s have-it-both ways approach. By keeping Trump at arm’s length, they said, Gillespie squandered an opportunity to motivate conservatives whose support he needed.” http://politi.co/2zqY2Co
— “‘Canary in the coal mine’: Republicans fear Democratic wins mean more losses to come,” by WaPo’s Bob Costa and Phil Rucker: “A wave of Democratic victories ignited a ferocious debate across the Republican Party on Wednesday over whether President Trump’s unorthodox behavior and polarizing agenda are jeopardizing the GOP’s firm grip on power in Congress, governors’ mansions and state legislatures.
“The recriminations sparked by Tuesday’s results — a decisive rebuke of Trump and his policies in Virginia and elsewhere — threatened the fragile GOP push to pass sweeping tax cuts by the end of the year and raised deeper questions about Republican identity and fealty to a historically unpopular president. A year ahead of the 2018 midterm elections, Republicans are increasingly uncertain about keeping their majorities on Capitol Hill and are worried about how damaging Trump’s jagged brand of politics may become to the party.” http://wapo.st/2znW06l
****** A message from Morgan Stanley: How can technology help drive success? In the Morgan Stanley Innovation Lab, our in-house technology startup accelerator program, startup Landit seeks to use their technology platform to enable companies to further the success of women in the workplace. Read more from Morgan Stanley. ******
ELENA SCHNEIDER: “Data points out of Virginia confirm Republicans’ fears that bubbled under the surface all year, which special election victories in safely red seats ‘glazed over,’ said a senior GOP aide. But ‘now there’s [electoral] evidence that there’s reason to really worry.’ Swing voters in suburban counties outside Washington and Richmond soured on Republicans up and down the Virginia ballot, an ominous sign for dozens of suburban Republicans in Congress, while the progressive base poured out to vote in high numbers. College-educated voters backed Democratic Gov.-elect Ralph Northam with 60 percent of their votes, according to exit polls. …
“Tuesday’s result are also serving as a reality check for members who may be considering retirement during a cycle that’s become increasingly difficult for Republicans to raise money. Nearly three dozen GOP incumbents were outraised by Democratic challengers in the third quarter of this year, as the liberal base continues to pour money into first-time candidates.” http://politi.co/2hW7p32
–“What the Hell Just Happened in Virginia?” — POLITICO Magazine: “Did Democrats win? Or did Republicans lose? And what role did Trump play? 17 political watchers dissect the election results.” http://politi.co/2iGZExF
POTENTIAL 2018 TRENDLINE — “Democratic women sweep into office in state elections,” by Maggie Severns: “Female candidates swept into office in Virginia and other elections around the country Tuesday, giving Democrats the first taste of a force reshaping their party in the first year of President Donald Trump’s administration. Women running for office for the first time may have wrested control of the Virginia House of Delegates from Republicans, who held the chamber since the 20th century. Another female Democrat flipped the Washington state Senate to her party’s control, alongside Democratic women who picked up state legislative seats in Georgia and Michigan, while Manchester, N.H. elected its first Democratic mayor in decades in Joyce Craig — who is also the city’s first-ever female mayor.
“The Virginia races especially, some of which are currently in the recount process, outperformed Democrats’ wildest expectations before the 2017 elections. And as the party looks ahead to 2018, that success has prompted progressives, pro-abortion groups and Democratic candidate recruiters to double down on encouraging female candidates and running on issues like women’s health and equal pay in the midterm elections and beyond.” http://politi.co/2hnrlz7
GOOD SCOOP — “This Megadonor Has Spent Millions On Republicans. Now He’s Thinking About Running Against One,” by BuzzFeed’s Tarini Parti: “Republican megadonor Foster Friess was busy writing checks to GOP candidates, contemplating the future of health care, and getting coffee with liberals for his campaign to ‘restore civility’ in politics last month, when he got an unexpected call from President Trump adviser and provocateur Steve Bannon. ‘I get this call, “Foster would you consider running against [Wyoming Sen. John] Barrasso?” And I said, ‘What’s your name?’ ‘Steve Bannon?’ Because we’re pretty much strangers, it kind of struck me as how did he even get my name or my number?’ Friess, a multimillionaire investor, is now launching a ‘listening tour’ to help him decide whether he should challenge Barrasso — his ‘personal friend’ and ‘hero’ — in a GOP primary.” http://bzfd.it/2yKtr3i
SEUNG MIN KIM: “McCain opposes Trump nominee over torture memos”: “Sen. John McCain (R-Ariz.), who has already warned President Donald Trump against bringing back torture, is vowing to reject any administration nominee who has backed so-called enhanced interrogation techniques. McCain was the sole GOP senator to vote against confirming Steven Engel to lead the Justice Department’s Office of Legal Counsel earlier this week, citing his role in the controversial torture memos under the George W. Bush administration.” http://politi.co/2zq0SYx
— “U.S. Subpoenas Icahn Over Biofuel Action While Trump Adviser,” by Bloomberg’s Miles Weiss, Jennifer Dlouhy, and Mario Parker: “Federal investigators have issued subpoenas for information on Carl Icahn’s efforts to change biofuel policy while he served as an adviser to President Donald Trump, according to regulatory filings. The U.S. Attorney’s Office for the Southern District of New York is ‘seeking production of information’ pertaining to Icahn’s activities regarding the Renewable Fuel Standard … The investigators also want information on Icahn’s role as an adviser to the president.” https://bloom.bg/2AnSPbE
PALACE INTRIGUE — “The New Washington Drama: Treasury Secretary Versus Treasury Secretary,” by NYT’s Alan Rappeport: “Raising eyebrows in economic circles, Lawrence H. Summers, the mercurial Treasury secretary for President Bill Clinton, has leveled a barrage of increasingly personal criticism at the current Treasury secretary, Steven Mnuchin. In podcasts, blog posts, op-eds and on Twitter, Mr. Summers … has accused Mr. Mnuchin of damaging the credibility of Treasury by making ‘irresponsible’ economic assessments of the administration’s tax plan and acting as a ‘sycophant’ to President Trump. The attacks have alternately amused and angered those who run in economic circles, with some saying it is Mr. Summers who is damaging the credibility of the office by leveling public attacks on a sitting Treasury secretary.” http://nyti.ms/2hmrGlh
TRUMP’S CABINET — “Inside Betsy DeVos’s efforts to shrink the Education Department,” by WaPo’s Moriah Balingit and Danielle Douglas-Gabriel: “The seventh floor of the Education Department’s headquarters near the Mall used to bustle. Now, nearly a dozen offices sit empty and quiet. The department’s workforce has shrunk under Education Secretary Betsy DeVos, who has said she wants to decrease the federal government’s role in education, including investigations and enforcement of civil rights in schools. In all, the department has shed about 350 workers since December — nearly 8 percent of its staff — including political appointees. With buyouts offered to 255 employees in recent days, DeVos hopes to show even more staff the door.” http://wapo.st/2jfoPeR
CLICKER – “Look Inside the DeVos Family Office: Financial disclosures provide a rare peek inside an investment structure used by ultrawealthy families,” by WSJ’s Anupreeta Das and Jean Eaglesham: http://on.wsj.com/2jbcrML
MEDIAWATCH — “Lawmakers alarmed at push to sell CNN,” by Steven Overly: “Even critics of AT&T’s proposed mega-merger with Time Warner expressed alarm Wednesday at allegations that President Donald Trump’s Justice Department is intervening in the deal for political reasons — namely his oft-expressed complaints about CNN … Sources familiar with the proposed merger told POLITICO that the DOJ issued an ultimatum to the companies Monday — that they either sell Time Warner’s Turner Broadcasting, which includes CNN as well as networks like TBS and TNT, or shed satellite television provider DirecTV.
“The sources said it’s clear the real sticking point for the government is CNN, whose coverage of the administration has become a frequent target of Trump’s anger. Unnamed DOJ officials later offered reporters a much different account, saying the companies themselves had offered to sell CNN — an option the officials said they rejected. AT&T CEO Randall Stephenson called that untrue, saying in a statement that he ‘never offered to sell CNN and have no intention of doing so.’” http://politi.co/2Ap0TIS
–JAMES V. GRIMALDI and MICHELLE HACKMAN have won the 2017 Everett McKinley Dirksen award for Distinguished Reporting of Congress from the National Press Foundation. Per the judges: “Their investigation revealed that Rep. Tom Price, then the nominee to be HHS secretary, had traded in health stocks while pushing legislation that could affect those stocks. Reverberations from their story dominated Price’s confirmation hearings and effectively put him in the crosshairs during his brief tenure at HHS.” The winning piece http://on.wsj.com/2AmLFnV (h/t Morning Media)
ALTERNATE REALITY — “What if Hillary had won? A jolly trip down memory lane, alternate-timeline edition,” by WaPo’s Ben Terris, Dan Zak, Monica Hesse and Amy Argetsinger: http://wapo.st/2Avuv8n
POLITICO is accepting applications for its fifth session of the POLITICO Journalism Institute, an educational initiative focused on newsroom diversity. The intensive program, which is designed for college students, will be held May 29 to June 9. It features hands-on training for up to 12 recent grads and university students interested in covering government and politics. Students also will have an opportunity to have their work published by POLITICO. All expenses are paid for the program. Admissions are made on a rolling basis, so apply today but no later than Jan. 15. http://politi.co/2zHC0Mz
SEB’S GOT A NEW JOB — @yashar: “A Fox News spokesperson confirms that the network has hired Sebastian Gorka as a National Security Analyst.”
VIDEO DU JOUR — Steve Herman (@W7VOA): “On an iPad @POTUS played this video for President Xi showing his granddaughter singing in Chinese and reciting Analects of Confucius. This is being broadcast across #China.” http://bit.ly/2yk6UG9
LATE-NIGHT BEST — BILL CLINTON on Conan — “On Dictators, Democracy, & Why We Need Immigrants More Than Ever” — 7-min. video http://bit.ly/2iGgvAR
TRUMP INC. — “Trump Tower Condo Prices Lag Behind Those of Similar Midtown Properties,” by WSJ’s Josh Barbanel: “Condominium prices are faltering at Trump Tower, President Donald Trump’s property on Fifth Avenue in Manhattan, more than at similar buildings across the city. The median sale price and average price per square foot both are down sharply since 2015, when Mr. Trump launched his campaign for president, and now are plumbing depths last visited during the financial crisis.” http://on.wsj.com/2hlfrFP
COURT WATCH — “Congressional Hunger Center says employee stole $1.1 million, disappeared,” by Josh Gerstein: “A hunger-focused non-profit group founded by House members lost more than $1.1 million due to embezzlement carried out by the organization’s former finance director, according to a lawsuit filed in Washington on Wednesday. The Congressional Hunger Center filed suit in U.S. District Court against Mohamed Gurey, claiming the certified public accountant looted the funds as far back as 2010 by forging signatures on the group’s checks and by tapping the center’s bank account to make large cash withdrawals at a Maryland casino.” http://politi.co/2yjx1xg
****** A message from Morgan Stanley: Startup Landit seeks to launch a technology platform that would enable companies to further the success of women in the workplace. Through the Morgan Stanley Innovation Lab, the firm’s in-house technology startup accelerator program, Landit was able to access our networks and resources to connect with investors. Read more. ******
WILD — “A Harvey Weinstein Operative Played Another Role,” by WSJ’s Mark Maremont: “‘Diana Filip,’ Israeli undercover operative, meet ‘Diana Ilic.’ A private investigator reported to be working undercover on behalf of film mogul Harvey Weinstein was identified by two people as the same woman that The Wall Street Journal reported over the summer had used a different alias to wring information out of a critic of a large U.S. insurer. The woman in the Journal article had given her name as ‘Diana Ilic.’ … The Journal, in its August article, published surveillance photos of the mystery woman, captured during a July dinner near Philadelphia with an analyst for a research firm critical of the New York-based insurer, AmTrust Financial Services Inc.” http://on.wsj.com/2hfWTTL
TOP-ED — ROBERT GATES in the NYT, “Ending DACA Will Hurt Immigrant Troops”: “As we observe Veterans Day, we remember with reverence the extraordinary debt we owe to those who have served in uniform and sacrificed, even unto death, for their fellow Americans. This includes the more than 109,000 immigrants who, since Sept. 11, 2001, have become citizens while wearing the uniform of the United States military. They have been part of a rarefied group: the 1 percent of Americans — native-born, naturalized and undocumented immigrants alike — who constitute our military. All of those undocumented immigrants, through their willingness to shed blood to protect the rest of us, have earned the right to call themselves ‘American citizen.’” http://nyti.ms/2AnNPUr
OUT AND ABOUT — SPOTTED last night at the LBJ Liberty & Justice for All Award event honoring David Rubenstein at the National Archives (pix http://smu.gs/2hUPzO4): dinner co-chairs Amb. Lloyd Hand and Cappy McGarr, award presenters Lynda Johnson Robb and Luci Baines Johnson, Larry Temple, Amy Barbee, Ben Barnes, House Minority Leader Nancy Pelosi (D-Calif.), House Minority Whip Steny Hoyer (D-Md.) Sens. Patrick Leahy (D-Vt.) and Ed Markey (D-Mass.), Dr. Susan Blumenthal, Reps. Joaquin Castro (D-Texas), Ron Kind (D-Wis.), Jim Costa (D-Calif.), Frank Pallone (D-N.J.), Lamar Smith (R-Texas), Doris Matsui (D-Calif.), Don Beyer (D-Va.), David Cicilline (D-R.I.), Debbie Dingell (D-Mich.), Marc Veasey (D-Texas), Hakeem Jeffries (D-N.Y.), Gene Green (D-Texas), Paul Tonko (D-N.Y.) and Sheila Jackson Lee (D-Texas) …
… Julian Castro, former Sen. Tom Daschle (D-S.D.), Commissioner Mignon Clyburn, Dr. Elena and Robert Allbritton, Barbie Allbritton, Martin Frost, Lyndon Boozer, Fred Humphries, Adrienne Arsht, Jacqueline Mars, Laurie Knight, Pam Brown and Adam Wright, emcee Cokie Roberts, Tom Johnson, Leon Harris and Ben Chang.
— Rep. Jason Smith (R-Mo.) and the Gateway IPA won last night’s first annual “Brew Across America,” competition organized by Anheuser-Busch. Nine lawmakers participated, including Sen. Michael Bennet (D-Colo.) and Reps. Peter Aguilar (D-Calif.), Joyce Beatty (D-Ohio), Al Lawson (D-Fla.), Barry Loudermilk (R-Ga.), John Rutherford (R-Neb.), Scott Taylor (R-Va.) and Greg Walden (R-Ore.) Paul Kane, Carl Hulse, Sue Davis, Sam Stein, Bob Cusack, Josh Dawsey and Warren Rojas served as media judges. They were teamed up with judges representing the beer industry, led by Anheuser-Busch’s Jane Killebrew, Jim McGreevey, Craig Purser, and Bill Canton.
SPOTTED: Sens. Cory Gardner (R-Colo.) and James Inhofe (R-Okla.), Reps. John Garamendi (D-Calif.), John Katko (R-N.Y.), Ron Estes (R-Kansas), Dennis Ross (R-Fla.), Ted Yoho (R-Fla.), and Ruben Gallego (D-Ariz.), as well as Joe Donoghue, Roland Foster, Andy Dockham, Justin Sok, Doug Bailey, Stef Webb, Chris Ternet.
DUELING TRUMP/CLINTON HAPPY HOURS — SPOTTED last night celebrating the one-year anniversary of Trump’s election at the Exchange by the EEOB on 17th and G streets NW: Rick Dearborn, Ory Rinat, Emily Murphy, Sean Miles, Andrew Olmem, Nick Owens, Jacob Wood, Loretta Greene, Chris Gray, Turner Bridgforth, Brennan Hart, Geoff Smith, Lenwood Brooks, Anthony Paranzino, Chris Caudill and Jim Frogue.
–SPOTTED for the Hillary alum happy hour last night at American Ice Company: Karuna Seshasai, Alex Phillips, Adrienne Watson, Christina Reynolds, Corey Ciorciari, Glen Caplin, Josh Schwerin, Lori Lodes, Lily Adams, Rob Flaherty, Tyrone Gayle, Constance Boozer, Adrienne Elrod, Carlos Sanchez, Cristobal Alex, Xochitl Hinojosa, John McCarthy, Dominic Lowell, Megan Nashban, Lauren Crawford, Alex Hornbrook, Riley Kilburg, Miryam Lipper, Sabrina Singh, Troy Perry and Bishop Garrison.
BIRTHDAY OF THE DAY: Kevin Sullivan, founder of Kevin Sullivan Communications, Inc. and senior adviser at the Bush Presidential Center in Dallas. A fun fact about Kevin: “In the 1980s in Dallas I once won a Rodney Dangerfield act-alike contest sponsored by a local radio station. First prize was getting to meet him backstage before his show. He shook my hand and said, ‘Go ahead. Act like me!’ I politely declined.” Read his Playbook Plus Q&A: http://politi.co/2AmlwWo
BIRTHDAYS: John Harris (hat tip: Danielle Jones) … DOJ’s Sarah Isgur Flores … Sen. Sherrod Brown (D-Ohio) is 65 … Bob Graham, former U.S. senator and Florida governor, is 81 … USA Today’s Alan Gomez … Shannon Currie, special assistant to Joel Benenson … Rep. John Katko (R-NY) is 55 … Rep. Scott Tipton (R-Colo.) is 61 … Jake Oeth … Peter Roff … Jessica Stuart … Trish Choate … Politico’s Trevor Eischen and Hugh Ferguson … RNC alum Orlando Watson … Claire Tonneson of Sunshine Sachs is 29 (h/t Daniel Strauss) … HuffPo’s Arthur Delaney … No Labels founder Nancy Jacobson … Joel Seidman, senior producer at NBC Nightly News (h/ts Jewish Insider) … David Wolfson … Aliza Klein … Hal Dash … Samara Hutman … Matthew Ellison, LD for Rep. Debbie Wasserman Schultz (D-Fla.), is 29 (h/t Natalie Knight) … László Baksay … Tara Patel … HFA alum Kendra Kostek …
… Matthew Dolan … David Mastio, deputy editorial page editor of USA Today, is 46 (h/t Bill Sternberg) … Matthias Reynolds of Zignal Labs … Karen Scott, Obama WH alum … Peter Lichtenbaum, an assistant secretary of commerce under Bush 43, now a partner at Covington & Burling … Edelman’s Aleena Hasnain … Samantha Sher … Andy McCarty … Catherine (Simmy) Martin … Kevin Bailey … Kathleen Clegg … Sean Redmond … Lisa De Pasquale … Megan Carpentier … Dee Dee Sorvino … Labinot Maliqi … Jen Overbye … Alex Curd … Bethany Aronhalt … Marc Kimball … Carolyn Casey … John Cacciatore … Catherine Chen … Shokhan Washburn … Kym Traczyk … Sarah Godlewski, the pride of Eau Claire, Wis. (h/ts Teresa Vilmain)
****** A message from Morgan Stanley: How can technology help drive success? In the Morgan Stanley Innovation Lab, our in-house technology startup accelerator program, startup Landit seeks to use their tech platform to enable companies to further the success of women in the workplace. One of five startups participating in the program, Landit believes the partnership has the potential to accelerate their curve and expand their opportunities. “Only a small fraction of all venture capital money is given to multicultural and women entrepreneurs,” explains Carla Harris, a Vice Chairwoman of Morgan Stanley and Head of its Multicultural Client Strategy Group. “Meanwhile, Morgan Stanley is a leader at the intersection of what these companies need: capital, connections, and investment banking content. We have the resources, access to relationships, and the expertise that can help refine these businesses and hopefully attract capital to scale up in size.” Read more. ******
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