Axelrod Cashes In On 'Change'

Discussion in 'Politics' started by toomuchtime_, Aug 21, 2009.

  1. toomuchtime_
    Online

    toomuchtime_ Gold Member

    Joined:
    Dec 29, 2008
    Messages:
    5,568
    Thanks Received:
    710
    Trophy Points:
    190
    Ratings:
    +1,991
    Barack Obama's chief White House adviser is collecting millions of dollars from his former public relations firms as they sign lucrative contracts with coalitions recently created to push the president's agenda.

    After arriving at the White House as top political guru, David Axelrod filed a required financial disclosure form that shows he will receive $3 million in installments over the next five years in a buyout with AKP&D Message and Media, and Ask Public Strategies.

    The bottom line: Axelrod is essentially on his old firms' payrolls as he sits in the Oval Office as the closest confidant to the president. Advocacy groups know that when they are hiring AKP or Ask Public they are helping those companies stay profitable and make good on the $3 million.

    AKP, which shares Chicago office space with Ask, is now getting contracts from major groups assembled to push Obama's massive health care agenda. They include Healthy Economy Now and Americans for Stable Quality Care. Their million-dollar media blitz is financed in part my the giant pharmaceutical industry which has a big stake in how the White House -- and Axelrod -- craft a final health care bill.

    Press reports say pro-Obama groups will spend $150 million on media ads. AKP's website does not list those groups on its client's list, which includes trial lawyers, the largest single contributor to the Democratic Party.

    The White House press office did not respond to several emails from HUMAN EVENTS. The mainstream liberal press generally has ignored the Axelrod buyout.

    But Republicans have taken notice. The Republican House Conference, led by Rep. Mike Pence, put out a release headlined, "Big Pharma and David Axelrod: $2 Million of Change You Can Believe In?" The $2 million refers to his buyout deal with AKP, where his son still works.

    The release notes that the White House negotiated an agreement with the drug lobby (the Pharmaceutical Research and Manufacturers of America) to get its political support.

    "Has David Axelrod recused himself from the [drug lobby deals] or will he work to defend an agreement with an industry that is directly funding his son's work, and indirectly funding his own $2 million severance package?" the statement said.

    It added, "As the pharmaceutical industry spends hundreds of millions supporting a government takeover of health care -- one which the drug companies obviously believe will increase their profits, even as it raises Medicare premiums for seniors -- some may wonder whether White House senior advisors earning millions of dollars paid for in part by the pharmaceutical industry represent the kind of change Americans can believe in."

    Axelrod Cashes In on Change - HUMAN EVENTS
     
  2. VaYank5150
    Offline

    VaYank5150 Gold Member

    Joined:
    Aug 3, 2009
    Messages:
    11,779
    Thanks Received:
    1,047
    Trophy Points:
    138
    Location:
    Virginia
    Ratings:
    +1,055
    David Axlerod was owed $2M from this company when he resigned to help Obama with his campaign. Regardless of what spin any of you idiots put on it, this money was owed him from the company and there is no way to change this fact. Now, if you want to talk about conflict of interest, I would be more than happy to discuss DICK Cheney's relationship with KBR, which is a subsidiary of Halliburton.
     
  3. Article 15
    Offline

    Article 15 Dr. House slayer

    Joined:
    Jul 4, 2008
    Messages:
    24,673
    Thanks Received:
    4,832
    Trophy Points:
    183
    Ratings:
    +4,859
    lol ... this was such BS story that I figured nobody would even bother posting it here
     
  4. hjmick
    Offline

    hjmick Gold Member

    Joined:
    Mar 28, 2007
    Messages:
    16,178
    Thanks Received:
    4,680
    Trophy Points:
    270
    Location:
    Charleston, SC
    Ratings:
    +7,122
    Hell, I'm surprised it took so long.

    And while I agree that Axelrod had the money coming, and while there is nothing technically wrong with this scenario described in the piece, you would think that, all things considered, The White House would want to avoid even the slightest appearance of impropriety and perhaps encourage these groups to hire another firm. I mean hell, Axelrod's son still works there.
     
  5. Oldandtired
    Offline

    Oldandtired BANNED

    Joined:
    Aug 17, 2009
    Messages:
    3,618
    Thanks Received:
    349
    Trophy Points:
    0
    Location:
    Long Island
    Ratings:
    +349
    His firm was a service company...not a manufacturing company.

    The sale of a service company, seeing as there is nothing to base the value on.... is based on a multiple of net revenue....this multiple usually ranges between 3 times and 7 times.....depending on the economic climate at the time of the sale.

    Contracts for such sales of service companies are basd on this net revenue over two EQUAL periods of time...baesd on the period of time before the date of sale and an equal period of time AFTER date of sale.

    This is to ensure the buyer that the departing of the ownership does not have a negatiove impact on the identity of the company. This is deemed as standard for a service company.

    Likewise, that is why most service company deals are based on a payout over time.

    Usually that period of time is anywahere from 1.5 to 3 years...depending on the deal.

    So, the auditors looked at net revenue for 2 years (example) before the sale. If that net revenue for the same amount of time AFTER the sale drops, so does the payout. If net revenue increases, there is no change in the payout.

    You should know the business of "business sales" before you simply "write this off" as a non story.

    It will be a story in about a year is my guess.
     
  6. Dante
    Offline

    Dante On leave Supporting Member

    Joined:
    Dec 1, 2008
    Messages:
    52,463
    Thanks Received:
    3,324
    Trophy Points:
    1,825
    Location:
    On leave
    Ratings:
    +6,054
    David Axelrod is a POS and I've said so all along.


    POS: piece of shit
     
  7. Oldandtired
    Offline

    Oldandtired BANNED

    Joined:
    Aug 17, 2009
    Messages:
    3,618
    Thanks Received:
    349
    Trophy Points:
    0
    Location:
    Long Island
    Ratings:
    +349
    Axelrod is a brand marketing genius. He took a man with limited political experience (but from a politically corrupt environment in Chicago), no executive experience, and a multitude of seedy and questionable associations and made him one of the most popular candidates in history.

    However...as we all know....those brand managers certainly make those Big Macs look tasty.....but in real life? Well.......
     
  8. Dante
    Offline

    Dante On leave Supporting Member

    Joined:
    Dec 1, 2008
    Messages:
    52,463
    Thanks Received:
    3,324
    Trophy Points:
    1,825
    Location:
    On leave
    Ratings:
    +6,054
    genius and a pos. :eusa_whistle:
     
  9. Ame®icano
    Offline

    Ame®icano Gold Member

    Joined:
    Jul 8, 2008
    Messages:
    9,823
    Thanks Received:
    1,625
    Trophy Points:
    245
    Location:
    Michigan
    Ratings:
    +4,255
    Just to clarify something... you're saying that if someone's old company owe him money, his new company should pay for it?
     
  10. realdem
    Offline

    realdem Rookie

    Joined:
    Aug 19, 2009
    Messages:
    11
    Thanks Received:
    2
    Trophy Points:
    1
    Ratings:
    +2
    WHY IS ANYONE SURPRISED?????????

    he , like obama, come from the most corrupt political machine in the country.....chicago
     

Share This Page