How the world of politics works. MacGillis tells the story of Doug Band, who rose up to become one of President Clinton’s most trusted advisers, until his own business interests got in the way:
“Of course, it was only natural that Band would tap his existing network. What is striking is the extent to which Teneo’s business model depends on his relationship with Clinton. Band’s former White House colleague says Teneo is essentially a p.r. firm that is able to charge above-market rates because it persuades executives that Band and the ties he brings are an essential service. ‘If they were paying $25,000 or $40,000 a month for p.r., then $100,000 a month, from the eyes of the CEO, … it’s not going to crush him,’ says the former colleague. (According to The New York Times, Teneo’s monthly fees can be as high as $250,000.) The longtime Clinton associate says that Band’s pitch to clients was that he was ‘able to fly around [with Clinton] and decide who flies around with him. … The whole thing is resting on his access.’”
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