Kerry and Benedict Arnolds
A reader (thanks Lisa!) emails with a link to Business Week Online:John Kerry has had tough words on the Presidential campaign trail for "Benedict Arnold CEOs" who export U.S. jobs. But according to the May, 2003, financial disclosure form he's required to file with the U.S. Senate every year, the Democratic candidate has stock in several multinationals that have outsourced work overseas -- General Electric (GE ), Procter & Gamble (PG ), and Verizon (VZ ), among others.
Such holdings, through trusts Kerry inherited, account for a sizable part of his portfolio. Kerry, whose assets are estimated at more than $1 million, was required to declare only monetary ranges, but the records show holdings in U.S. companies that outsource jobs of at least $125,000 and possibly as much as $650,000.
Kerry's wife, Teresa, has an even larger stake in such companies -- at least $10 million, held in the H.J. Heinz III Marital Trust, which she inherited from her late first husband, John Heinz. According to the disclosure, the trust invested over $1 million in IBM (IBM ) the same year it laid off more than 15,000 workers. Not exactly an endorsement for Kerry's argument that companies should "no longer be able to surprise their workers with a pink slip instead of a paycheck." The fund also invested between $1 million and $2 million in insurance giant AIG (AIG ) in 2002, the same year it set up an offshore-development center.
"SILLY COMPARISON." The Kerry camp makes a distinction between his and his wife's assets, asserting he has no financial stake in those holdings. They also point out that the Massachusetts senator has no say in the investments held in his family trusts. "It's a silly comparison," says Kerry senior adviser Michael Meehan. "Senator Kerry has a plan to crack down on companies who send jobs overseas."
Matt's Chat
Silly comparison indeed... When a candidate chooses to bite the hand that feeds him, one must wonder how badly he'd bite our nation's economy. Just asking...Mark's Remarks
And, just like other good liberals, he will enable these companies to escape via loopholes, just as some of his liberal predecessors did....Don't you just love the smell of Kerry and Liberal Hypocrisy in the blogosphere?
What a hypocritical, lying piece of crap.
