Lebanon’s Agony
Your September article “To Live and Die in Beirut,” on the current economic and political climate in Lebanon, was informative and well written. You gave me more insight into the challenges the country currently faces than anything I have read in newspapers to date. I’m a Brooklyn‑born, third‑generation American of Lebanese descent, and though I have never been to Lebanon, my family and I would like to visit someday when all factions live together peaceably.

One wonders if this will ever happen. You make it sound as though Saad Hariri will not be able to preserve the delicate balance of politics and recovery from his father’s assassination. From my vantage point, I’m not sure anyone could. We can only hope and pray.
—James Arrajj, Wyckoff, New Jersey

Fueling Controversy
In “The Most Dangerous Deal in America” [September], Daniel Roth reports that Cerberus is “against any increase in fuel-economy standards for automobiles.” Cerberus has often and consistently stated that it supports reasonable legislation that significantly raises auto fuel‑economy standards and is working with senior leaders in Congress to reach this goal.

For example, in a July 2007 speech at the National Press Club in Washington, Cerberus chairman John Snow said, “We are urging the Congress to embrace the kind of bipartisan approach taken in H.R. 2927 [a bill mandating new fuel-economy standards by 2022], put together by a diverse and growing group of legislators. We think this bill strikes the right balance. This approach is no cake‑walk, but it is a standard that will challenge—not crush—the industry.”
—Mark A. Neporent, Chief Operating Officer, Cerberus Capital Management, New York, New York
Launch and Follow‑Up
I thought the launch issue of Condé Nast Portfolio was excellent. The website is a revelation—business news and opinion that is vividly written and presented in a compelling and intelligent format.
—John Keenan, Brighton, England

You really do tackle some interesting subjects like no one else. At first I was skeptical, but you deliver great insight on critical, not just relevant, issues.
—Milton Pedraza, New York, New York

I am the C.E.O. of a small personal-wealth-management firm with about $300 million of assets under management and 20 employees. I was not excited when I received the May issue, thinking it was another pretty magazine with fancy pictures and no substance. Boy, I was wrong. I took it to the beach to read. Each article was insightful, well written, informative, and entertaining.
—Wesley D. Bilger, Atlanta, Georgia

I got my September issue yesterday and must tell you that I have read it cover to cover. I like your style, and the variety of articles gives the reader a new and fresh perspective. Keep up the good work. I’m delightfully impressed.
—Rachel Elkin, Franklin Lakes, New Jersey

Ted's Pledge
In September 1997, Ted Turner made a historic announcement. Among the first of his peers to embrace global philanthropy, he pledged to contribute $1 billion to help support the United Nations. Less than six months later, the United Nations Foundation opened its doors and began working to help advance U.N. causes. Contrary to your story in the September issue [“Ted’s Pledge Hedge”], the history of his gift is one of leveraging, not hedging, his investment.

Throughout the foundation’s history, Turner’s money has helped galvanize long-term, sustainable solutions to some of the world’s greatest challenges. Early on, the leadership of the U.N. and the U.N. Foundation’s board recognized that Turner’s support was relatively small in comparison with the significant sums spent by the U.N. and its constituent agencies each year. Thus the U.N. leadership suggested, and the U.N. Foundation board agreed, that our focus should be on leveraging Turner’s support through advocacy and partnerships.

The U.N. Foundation board—of which Turner is chair, but which is composed of a dozen strong, creative world leaders—allocates Turner’s funds. The board made the decision to slow down the pace of his giving and focus on catalytic investments. Leveraging Turner’s pledge, we have delivered about $1.2 billion to U.N. causes since 1998. Meanwhile, the remaining $350 million of his original gift will be invested in the coming years to leverage another $1 billion.
—Timothy E. Wirth, President, United Nations Foundation, Washington, D.C.