Will someone please help the Peter Peterson clan coordinate its PR strategy? The very summer that the pater familias and co-founder of The Blackstone Group comes out with his autobiography, grandson Peter Carey Peterson (friends call him “PC”) will be appearing in a new reality series called “NYC Prep”. The two cultural products couldn't be more different.
In his new book, The Education of an American Dreamer: How a Son of Greek Immigrants Learned His Way from a Nebraska Diner to Washington, Wall Street, and Beyond, the senior Peterson details his rise from humble origins in Kearney, Nebraska, where at the age of eight he began working his father's diner cash register. “NYC Prep”, by contrast, follows the adventures of PC, of whom the show's producers say: “Like many New York kids, this jaded 18-year-old grew up fast, surrounded by rock stars, artists, and the city's literati. For PC, money, women and life's spoils are all he's ever known.”
The reality show comes two years after another Peterson, daughter Holly (and aunt of PC), released The Manny, a work of “chick-lit” fiction about a male nanny on the Upper East Side. Holly sought to promote the book with a low-budget, straight-to-YouTube music video shot in her father's palatial apartment (unbeknownst to him, he made known). The video includes what some might consider to be a slightly offensive line up of ethnically selected actors portraying various domestic helpers.
In a promotional clip for “NYC Prep”, PC comes off as charming, ambitious and concerned with the broader world – he recently volunteered in a village in Sudan. But the comment most picked up in the blogosphere was his initial response to a question about the economy: “The recession is my bitch!” To be honest, you'll find essentially the same message in a distressed-assets PPM, so give PC points for candor.
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David Snow, executive editor of PEI, is quoted in the New York Times after Riverstone Holdings agrees a $30 million settlement in New York attorney general Andrew Cuomo's ongoing public pension investigation.
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