Pierre Andrew Rinfret
Encyclopedia
Pierre Andre "Pete" Rinfret (pronounced rin-FRAY) (February 1, 1924 - June 29, 2006) was the founder of Rinfret-Boston Associates, an economic advisor to three American Presidents
, and the Republican Candidate for Governor of New York
in 1990.
, Canada
. His father and the entire family emigrated to the United States from Canada on November 12, 1929.
A self-made man, he studied electrical engineering
at the University of Maine
, and was then draft
ed into the Army
in 1944, where he served General George S. Patton
in France and received the Bronze Star
. Upon his return he received a MBA from New York University
, and spent two years in France as a Fulbright Scholar.
Working in the finance industry, he rose to become chairman of Lionel D. Edie in 1965 before forming his own firm. Rinfret served as an economic adviser to Presidents John F. Kennedy
, Lyndon Johnson, and Richard Nixon
. In 1972, he was a Nixon campaign spokesman, and Nixon offered him a position on the Council of Economic Advisers
and later considered him for a cabinet post.
He considered himself a professional financial analyst, first and foremost.
against Mario Cuomo
at the request of former Tresury Secretary William Simon
and state Senator Roy Goodman
. Rinfret suffered when the Conservative Party of New York
declined to cross endorse him and instead gave their support to Dr. Herbert London
. Rinfret also contended that the Republican party gave him little or no support, and that there were several key members of the Republican party that was privately supporting London and the Conservatives. Mr. Cuomo went on to win the election with 53 percent, Mr. Rinfret 22 percent and the Conservative candidate, Herbert London, 21 percent. Had Mr. London won a larger percentage the Republican party would have lost the second line of New York State election ballots to the Conservatives.
Pierre considered his run for governor as a moral victory.
He had posted his recollections and impressions of people he had known from politics and business on a web site during his retirement, and carried on a significant online correspondence with people from over twenty countries until just a few months before this death.
He was attempting to create an 'online memoir' of his life and experiences, from growing up in the Great Depression, to working with economists such as Milton Friedman and Alan Greenspan.
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
, and the Republican Candidate for Governor of New York
Governor of New York
The Governor of the State of New York is the chief executive of the State of New York. The governor is the head of the executive branch of New York's state government and the commander-in-chief of the state's military and naval forces. The officeholder is afforded the courtesy title of His/Her...
in 1990.
Biography
Rinfret was born in MontrealMontreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. His father and the entire family emigrated to the United States from Canada on November 12, 1929.
"We emigrated here because my father had gone bankrupt in his fur business. In Canada that was the ultimate disgrace and he was forced out, socially. He did not know a depression was coming in the U.S. and no one else did either. And so he thought he would have a new start. Little did he know what was ahead. He and all of us had gone from the frying pan into the fire!"
A self-made man, he studied electrical engineering
Electrical engineering
Electrical engineering is a field of engineering that generally deals with the study and application of electricity, electronics and electromagnetism. The field first became an identifiable occupation in the late nineteenth century after commercialization of the electric telegraph and electrical...
at the University of Maine
University of Maine
The University of Maine is a public research university located in Orono, Maine, United States. The university was established in 1865 as a land grant college and is referred to as the flagship university of the University of Maine System...
, and was then draft
Conscription
Conscription is the compulsory enlistment of people in some sort of national service, most often military service. Conscription dates back to antiquity and continues in some countries to the present day under various names...
ed into the Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
in 1944, where he served General George S. Patton
George S. Patton
George Smith Patton, Jr. was a United States Army officer best known for his leadership while commanding corps and armies as a general during World War II. He was also well known for his eccentricity and controversial outspokenness.Patton was commissioned in the U.S. Army after his graduation from...
in France and received the Bronze Star
Bronze Star Medal
The Bronze Star Medal is a United States Armed Forces individual military decoration that may be awarded for bravery, acts of merit, or meritorious service. As a medal it is awarded for merit, and with the "V" for valor device it is awarded for heroism. It is the fourth-highest combat award of the...
. Upon his return he received a MBA from New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
, and spent two years in France as a Fulbright Scholar.
Working in the finance industry, he rose to become chairman of Lionel D. Edie in 1965 before forming his own firm. Rinfret served as an economic adviser to Presidents John F. Kennedy
John F. Kennedy
John Fitzgerald "Jack" Kennedy , often referred to by his initials JFK, was the 35th President of the United States, serving from 1961 until his assassination in 1963....
, Lyndon Johnson, and Richard Nixon
Richard Nixon
Richard Milhous Nixon was the 37th President of the United States, serving from 1969 to 1974. The only president to resign the office, Nixon had previously served as a US representative and senator from California and as the 36th Vice President of the United States from 1953 to 1961 under...
. In 1972, he was a Nixon campaign spokesman, and Nixon offered him a position on the Council of Economic Advisers
Council of Economic Advisers
The Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
and later considered him for a cabinet post.
He considered himself a professional financial analyst, first and foremost.
"I am the most proud of ... my 45 years of being a professional analyst of the U.S. and the world. I was always an iconoclast, an icon breaker. I never was afraid to think for myself. More often than not I went against the trend and the accepted wisdom. It got me into trouble quite frequently but my entire career was built on it..."
1990 Run for Governor of New York
The Manhattan millionaire—by now styling himself as "Pete" Rinfret—agreed to become the Republican candidate in the 1990 gubernatorial electionNew York gubernatorial election, 1990
The 1990 New York gubernatorial election was held on November 6, 1990 to elect the Governor and Lieutenant Governor of New York.-Results:...
against Mario Cuomo
Mario Cuomo
Mario Matthew Cuomo served as the 52nd Governor of New York from 1983 to 1994, and is the father of Andrew Cuomo, the current governor of New York.-Early life:...
at the request of former Tresury Secretary William Simon
William E. Simon
William Edward Simon was a businessman, a Secretary of Treasury of the U.S. for three years, and a philanthropist. He became the 63rd Secretary of the Treasury on May 8, 1974, during the Nixon administration. He was reappointed by President Ford and served until 1977. Outside of government, he was...
and state Senator Roy Goodman
Roy M. Goodman
Roy M. Goodman is an American politician. He was born in New York City and is the grandson of Israel Matz, founder of the Ex-Lax company.-Political career:...
. Rinfret suffered when the Conservative Party of New York
Conservative Party of New York
The Conservative Party of New York State is an American political party active in the state of New York. It is not part of any nationwide party, nor is it affiliated with the American Conservative Party, which it predates by over 40 years....
declined to cross endorse him and instead gave their support to Dr. Herbert London
Herbert London
-Early life:He was born in Brooklyn, New York circa 1939 and attended Columbia University, graduating in 1960. Standing 6'5", he was drafted by the Syracuse Nationals of the National Basketball League, but did not play for them because of injuries. He was a social studies secondary school teacher...
. Rinfret also contended that the Republican party gave him little or no support, and that there were several key members of the Republican party that was privately supporting London and the Conservatives. Mr. Cuomo went on to win the election with 53 percent, Mr. Rinfret 22 percent and the Conservative candidate, Herbert London, 21 percent. Had Mr. London won a larger percentage the Republican party would have lost the second line of New York State election ballots to the Conservatives.
Pierre considered his run for governor as a moral victory.
"Mario Cuomo was mentioned frequently as a possible Presidential candidate, but after the run against us all that talk died since he won the election with a bare majority. We knocked him out of the Presidential box and out of NY politics. He beat two rank amateurs by the skin of his teeth! Few in the state realized the dire financial and economic condition of the state until my campaign. The very first budget that Mario Cuomo presented to the Legislature after he beat me was almost identical to the one I had proposed and, as the Albany commentators said, "You elect Mario and you get Pierre's budget"
Rudy GiulianiRudy GiulianiRudolph William Louis "Rudy" Giuliani KBE is an American lawyer, businessman, and politician from New York. He served as Mayor of New York City from 1994 to 2001....
beat DinkinsDavid DinkinsDavid Norman Dinkins is a former politician from New York City. He was the Mayor of New York City from 1990 through 1993; he was the first and is, to date, the only African American to hold that office.-Early life:...
in the next election and the issue was the deteriorating state of New York City! George PatakiGeorge PatakiGeorge Elmer Pataki is an American politician who was the 53rd Governor of New York. A member of the Republican Party, Pataki served three consecutive four-year terms from January 1, 1995 until December 31, 2006.- Early life :...
beat Mario Cuomo in the next electionNew York gubernatorial election, 1994The New York gubernatorial election of 1994 was an election for the state governorship held on November 8, 1994. The election resulted in the defeat of Democratic incumbent Governor Mario Cuomo by Republican George Pataki.-Primaries:...
on some of the very grounds I had initiated, the deterioration in the state.
The new head of the Republican party in New York said right after the election "We owe Pierre".
Mario Cuomo said to my son Peter about a year ago and I quote, "Your father was far more perceptive than I was"."
Post 1990
He qualified as a pilot in 2000, at age 76, and died in 2006 at age 82.He had posted his recollections and impressions of people he had known from politics and business on a web site during his retirement, and carried on a significant online correspondence with people from over twenty countries until just a few months before this death.
He was attempting to create an 'online memoir' of his life and experiences, from growing up in the Great Depression, to working with economists such as Milton Friedman and Alan Greenspan.
"I first met Alan Greenspan in 1948 when I attended the New York University School of Commerce, Accounts and Finance. At that time I was a junior in my studies and Alan was a sophomore. I was the Senior Fellow in the Economics department and he wanted to get a fellowship in the Department...."
1990 NYS Republican ticket
- Governor: Pierre Rinfret
- Lieutenant Governor: George Yancey
- Comptroller: Edward Regan
- Attorney General: Bernard C. Smith