On December 15, 2015, Cornerstone Acquisition & Management Company, LLC acquired a mineral, royalty and overriding royalty portfolio for $29 million dollars from Shell . The portfolio holds interests in several hundred producing oil and gas wells spanning forty counties throughout eight states and multiple prolific basins. The assets possess attractive diversity in terms of commodities produced as well as […]read more
September 22, 2015
Cornerstone Attends Dinner Honoring Xi Jinping, President, People’s Republic of China
Bruce McMahan (CEO), Derren Geiger (COO), and Kurt Hartman (Director – Business Development), were in attendance at the Westin Hotel in Seattle, Washington as part of the National Committee on United States – China Relations reception and dinner honoring Xi Jinping on September 22, 2015. Dr. McMahan had the honor of sitting at the head table alongside: President Xi Jinping, the People’s Republic of China (PRC) dignitaries, United States political leaders, and other top corporate executives during the exclusive event to welcome the Chinese delegation to the United States ahead of His Excellency’s visit to Washington D.C. Xi Jinping’s 40-minute address was accompanied by the following speakers: Henry Kissinger (former Secretary of State), Penny Pritzker (US Secretary of Commerce), Jay Inslee (Governor, State of Washington), and Mark Fields (President & CEO, Ford Motor Company).
Other notable attendees at the head table included:
– Dennis Muilenburg, President & CEO, The Boeing Company
– Bill Gates, Co-Chair & Trustee, Bill & Melinda Gates Foundation
– Andrew Liveris, President, Chairman & CEO, The Dow Chemical Company
– Ellen Kullman, Chairman & CEO, DuPont
– John Bilbray, Chairman & CEO, The Hershey Company
– Virginia Rometty, Chairman, President & CEO, IBM
– Satya Nadella, CEO, Microsoft
– John Chen, CEO, Blackberry Ltd.
– Howard Schultz, Chairman & CEO, Starbucks Coffee Company
– Steve Mollenkopf, CEO, Qualcomm
– Minister Wang Yi, Chinese Minister of Foreign Affairs
– Hank Paulson, Chairman, Paulson Institute
– Jerry Brown, Governor, State of California
– Rick Snyder, Governor, State of Michigan
– Terry Branstad, Governor, State of Iowa
Dr. D. Bruce McMahan is Chairman/CEO of Cornerstone Acquisition and Management Co. LLC. Below is a summary of Dr. McMahan’s experience with China:
-1984 appointed to President Regan’s Committee for Technology and Handicapped
-1985 Deng Pufang’s China -Disabled Persons Federation requests the transfer of technology from the United States to China for the benefit of China’s approximately 60 million disabled persons. Dr. McMahan organized and managed the transfers from his private National Cristina Foundation. More than 500 computers, the first non-military computers in China were donated by the foundation for use for these educational purposes. Transfers continued over the next several years.
-1986-87 two separate American Mandarin speaking groups of computer oriented teachers spent six weeks during each trip teaching the proper educational value of computers for the disabled.
-1988 NCUSCR and Dr. McMahan host a visit by Deng Pufang and his team to the United States to see facilities for the disabled and computer use techniques. Included was a Wall Street dinner presentation by Deng Pufang to 500 people and a dinner at the US State Department hosted by then VP George HW Bush with George W Bush and other key national disability figures in attendance. Dr. McMahan was also awarded the ‘Honorary Technical Advisor to the China Disabled Persons Federation’ title that year.
-1989 Dr. McMahan begins the first of two business joint ventures located in Shanghai.
-1988-93 Dr. McMahan lectured widely in China on business and governmental structures under consideration at that time. He was awarded the title of ‘Honorary Professor’ by the University of International Business and Economics in Beijing.
-1990 NCUSCR arranges an off the record meeting for Premier Li Peng to meet with 10 top American businessmen. His purpose was to exchange ideas on how to accelerate the business interactions between the United States and China. In a private meeting following this event, Premier Li asked Dr. McMahan if he could create a highway of capital to China. What he wanted was the first direct listing of a domestic Chinese company on the New York Stock Exchange. Dr. McMahan responded that he could accomplish this for the Premier and China.
-1994, August 4, Shandong Huanung Power Development Co. became the first Chinese company to be directly listed on the NYSE. McMahan Securities Co. LP was the initiator of this transaction and a co-underwriter.
Dr. McMahan continues to be a Director of NCUSCR after 27 years.
On November 10, 2014, Cornerstone Acquisition & Management Company, LLC closed a $162.5 million dollar sale of oil and gas mineral, royalty and overriding royalty assets with Haymaker Minerals & Royalties, LLC in a privately negotiated sale. The divested portfolio consists of properties spanning 20 states and approximately 370 counties acquired over the course of ten years. Cornerstone’s management has […]read more