Looks like Cerebus Capital Management hedged their bets by timely campaign donations to Rep. Jerry Lewis (R-CA):
One day after a New York investment group raised $110,000 for Republican Rep. Jerry Lewis, the House passed a defense spending bill that preserved $160 million for a Navy project critical to the firm. The man who protected the Navy money? Lewis. . . Lewis himself had criticized the Navy-Marine computer project in October 2002, telling The Washington Post he was not satisfied with its progress. He also said he was concerned about MCI's involvement. "When you have a big piece of the pie in trouble, it just gums up a process that already has great difficulty," he said. . . . In the early summer of 2003, Lewis said, he heard that "some business people in New York" were interested in giving money to his political action committee, the Future Leaders PAC. At the same time, the House Defense Appropriations subcommittee, which Lewis led and which oversees Pentagon spending, was considering the 2004 defense budget. On June 16, the Defense Appropriations subcommittee preserved the money for the Navy-Marine Corps network. Lewis said he changed his mind and supported full funding for the program because the Navy maintained that management of the program had improved. On June 26, the full committee followed suit. On July 7, Lewis traveled to New York for a fundraising dinner with Cerberus executives and their spouses, lawyers and business associates. They gave the Future Leaders PAC more than $110,000 that night and more in the following weeks, bringing the total to nearly $133,000 that month. The day after the dinner, the House passed Lewis' defense spending bill that preserved all of the funding for the Navy project. And two months after receiving the Cerberus money, Lewis led House negotiators working out a House-Senate compromise on the Pentagon bill that finalized the $1.6 billion for the Navy project
One day after a New York investment group raised $110,000 for Republican Rep. Jerry Lewis, the House passed a defense spending bill that preserved $160 million for a Navy project critical to the firm. The man who protected the Navy money? Lewis. . .
Lewis himself had criticized the Navy-Marine computer project in October 2002, telling The Washington Post he was not satisfied with its progress. He also said he was concerned about MCI's involvement. "When you have a big piece of the pie in trouble, it just gums up a process that already has great difficulty," he said. . . .
In the early summer of 2003, Lewis said, he heard that "some business people in New York" were interested in giving money to his political action committee, the Future Leaders PAC. At the same time, the House Defense Appropriations subcommittee, which Lewis led and which oversees Pentagon spending, was considering the 2004 defense budget.
On June 16, the Defense Appropriations subcommittee preserved the money for the Navy-Marine Corps network. Lewis said he changed his mind and supported full funding for the program because the Navy maintained that management of the program had improved. On June 26, the full committee followed suit.
On July 7, Lewis traveled to New York for a fundraising dinner with Cerberus executives and their spouses, lawyers and business associates. They gave the Future Leaders PAC more than $110,000 that night and more in the following weeks, bringing the total to nearly $133,000 that month.
The day after the dinner, the House passed Lewis' defense spending bill that preserved all of the funding for the Navy project. And two months after receiving the Cerberus money, Lewis led House negotiators working out a House-Senate compromise on the Pentagon bill that finalized the $1.6 billion for the Navy project
Powered by: newtelligence dasBlog 1.9.6238.0
Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in anyway.
© Copyright 2008, Amalgamated Industries
E-mail
E-mail