Rick Perry's Taxpayer Funded Slush Fund

[sonias]

First Reading blog 3/12/10
Three key stories you might have missed this week

(snip)
There were some important stories in the Texas press this week that you may or may not have seen.

The first story was posted Thursday on the Web site of the Texas Observer. It highlights the propensity of companies that receive Texas Enterprise Fund grants to donate to Gov. Rick Perry’s campaign and the Republican Governors Association, which has been quite helpful to Perry.

The Observer’s Dave Mann writes, "An Observer investigation has found that 20 of the 55 Enterprise Fund companies have either given money directly to Perry’s campaign (through their political action committees or executives) or donated to the Republican Governors Association, a Washington, D.C.-based group that Perry presided over in 2008. The 20 companies have received a combined $174.2 million from the Enterprise Fund. During the same time period, those 20 corporations have donated $2.2 million to Perry and the governors association. Several companies made donations around the time they received grants from the Enterprise Fund. It’s even possible that taxpayer money from the fund came full circle into Perry’s own campaign."

Nice rate of return on the kick-backs Perry! Too bad that money you're giving away is taxpayer money! :grr:

[sonias]

1. Slush Fun (The Texas Observer story)

Texas Observer 3/11/10
Slush Fun
At least one Texan has benefited from Rick Perry's Enterprise Fund.

For the past six years, Texas Gov. Rick Perry has lorded over a controversial stash of taxpayer money known as the Texas Enterprise Fund, dispensing huge sums—$345 million and counting—to large corporations, ostensibly to spur job growth. Critics call it the governor’s slush fund. "He takes from us so that he can play with his corporate slush fund and award his friends’ businesses," said Debra Medina, one of Perry’s two challengers for the GOP gubernatorial nomination, at a recent candidate’s debate.

(snip)

Many companies that have received money from the fund have, in turn, aided the governor. An Observer investigation has found that 20 of the 55 Enterprise Fund companies have either given money directly to Perry’s campaign (through their political action committees or executives) or donated to the Republican Governors Association, a Washington, D.C.-based group that Perry presided over in 2008.

(snip)
Perhaps no company better illustrates the flow of money than Hewlett-Packard Co. In October 2006, the California-based technology giant received $3 million from the Enterprise Fund to open four data centers in Texas that were supposed to create 420 jobs. The project didn’t exactly go well—the centers never opened, and Hewlett-Packard later had to repay its grant. Nary a Texan got a new job. But before the deal fell apart, Perry and his political allies took in their share of money.

Hewlett-Packard’s political action committee contributed $20,000 to the governor’s campaign. It was one of 18 Enterprise Fund companies whose PACs or chief executives donated to Perry’s campaign, according to an analysis by the watchdog group Texans for Public Justice. The PACs and chief executives forked over a combined $355,000 to Perry’s campaign. (One of the largest donors was Joe Sanderson, the head of Sanderson Farms Inc., a Mississippi-based chicken producer that received $500,000 from the Enterprise Fund in April 2006. Three months later, Joe Sanderson gave $25,000 to Perry’s campaign. He has since given $75,000 more.)

Great job by the Texas Observer doing real journalism! They beat the "alleged" MSM with a much smaller staff because they really are in the business of journalism. Kudos to The Observer. :applause:

:kick:

[hobbit709]

2. Rick Perry-so crooked he has to screw his socks on.

[sonias]

3. I like it

:spray:

You sir have a way with words!