In the early 1990s, New School University Trustee Bernard Schwartz was apparently one of the leading “Masters of War” in the Big Apple. According to Forbes magazine, in 1992 the then-68-year-old Loral Corporation chairman and CEO took home a salary and bonus of $5.23 million, plus $11.5 million in stock gains and other compensation from the Loral Corporation’s weapons manufacturing operations.
In the early 1990s, New School University Trustee Schwartz’s Manhattan-based Loral Corporation developed and manufactured airborne electronic warfare systems and equipment. Schwartz’s company also then produced or upgraded some 130,000 guidance control systems for AIM-9P Sidewinder, a short-range air-to-air missile. In the late 1980s or early 1990s, New School University Trustee Schwartz’s Loral Corporation also purchased IBM’s Federal Systems weapons-manufacturing subsidiary, LTV’s Missile Division, Ford Aerospace, Goodyear Aerospace and the Electron-Optical weapons-manufacturing subsidiary of Honeywell.
Before apparently divesting Loral Corporation’s weapons manufacturing operations in the late 1990s, New School Trustee Schwartz and another Loral Corporation director , Thomas Stanton Jr., also apparently sat in the 1980s on the corporate board of Reliance Group Holdings/Telemundo, when it was the parent company of a Spanish-language television station in the New York City metropolitan area, WNJU-TV/Channel 47 in the 1980s.
New School Trustee Schwartz has also apparently been using the wealth he obtained from producing weapons to bankroll the campaigns of a lot of U.S. politicians. Between 2000 and 2008, for example, New School Trustee Schwartz contributed over $3.5 million to the campaign chests of various U.S. politicians—although New School University is a “tax-exempt” institution that is supposed to be prohibited from engaging in partisan political politics.
For more information about New School University Trustee Bernard Schwartz’s historic corporate connections and historic links to the U.S. war machine, you can check out the following link: