No Special Interest Funding for Americans Elect? New York Times reports “Serious Hedge-Fund Money”
When it comes to Thomas Friedman’s report that Americans Elect is “financed with some serious hedge-fund money,” there are two possibilities:
Possibility 1: Despite having a gig with the New York Times and going to interview Americans Elect in “its swank offices,” Thomas Friedman doesn’t know what he’s talking about here. This isn’t inconceivable: Friedman refers to Kahlil Byrd as “the C.E.O. of Americans Elect,” but current corporate documents show Byrd is actually the Vice Chairman and Treasurer while billionaire Peter Ackerman is Chairman. Americans Elect corporate bylaws specify that “The Chairman shall serve as the chief executive officer of Americans Elect.”
Possibility 2: Americans Elect really is awash with special-interest hedge fund money. Some other evidence pointing in this direction has already emerged. In a fawning promotional piece this weekend for the Daily Beast, No Labels co-founder John Avlon drops a useful statistic: that Americans Elect has raised $20 million from just 50 people, a whopping average contribution of $400,000 per person. Not just anybody can write a check for 400 grand; these are 50 mostly anonymous people to whom Americans Elect owes a big debt of gratitude. We know from other documents that two private investment executives have made donations to Americans Elect: Rockport Capital chief Peter Ackerman to the tune of $1.55 million and hedge fund operator Kirk Rostron in an undisclosed amount. Incomplete documentation of a “giving stream” to Americans Elect also names Melvin Andrews of Los Angeles as a contributor. Melvin Andrews of Los Angeles is the President of Lakeside Capital Partners. Outside of the capital investment business, but definitely in the realm of a “special interest,” is the donation to Americans Elect by Jim Holbrook, Chairman of the Promotion Marketing Association
http://irregulartimes.com/index.php/archives/2011/07/24/no-special-interest-funding-for-americans-elect-new-york-times-reports-serious-hedge-fund-money/On Peter Ackerman
http://www.sourcewatch.org/index.php?title=Peter_AckermanOn Kirk Rostron
Despite the appearance of this limited list via Piryx, there’s a lot of information that Americans Elect is still withholding from the American people about its financial activity. In this regard, Americans Elect is actually a step backward from all other political parties, which must and do disclose the names, addresses, occupations, employers, and dollar amounts of all contributions they receive above a small threshold. Around the country, Americans Elect is registering as a political party to reap all the benefits and ballot access — but it’s not playing by the rules for political parties when it comes to disclosure. For purposes of disclosure, it’s a 501c4 corporation, and even though it wants to arrange the election of your next president you don’t have the right to know who’s behind it.
Despite these limiting factors, we know enough to test the Americans Elect claim that “none of our funding comes from special interests or lobbyists.” If any donation to Americans Elect comes from special interests or lobbyists, then Americans Elect’s claim is untrue.
We’ve already documented one violation: Peter Ackerman, a man who has very particular special interests and who has funded Americans Elect. Here’s the name of another Americans Elect contributor with special interests, plucked from the Piryx giving stream: Kirk T. Rostron of Alexandria, VA. Kirk Rostron is a co-founder and managing partner of The Mt. Vernon Group, a private capital investment firm situated in a choice spot just four blocks from the White House at 1101 Pennsylvania Avenue NW, Washington DC. Rostron specializes in managing hedge funds, having done so previously at Merrill Lynch, Hovde Capital Advisors and HedgeCall.
As a hedge fund manager and managing partner of a private capital investment firm, Kirk Rostron has special interests in various aspects of American economic policy, from regulation to privatization to transparency to taxation. Curiously enough, of the seven areas of policy Americans Elect identifies as relevant, it overwhelmingly focuses on economic policy in its delegate process. Within the 64 policy questions Americans Elect has deployed to shape the selection of its 2012 presidential candidate, the largest subset — a full 17 questions — has to do with privatization, deregulation and taxes, fixating on policy issues in a manner highly compatible with the special interests of well-to-do private capital financiers like Kirk Rostron.
http://irregulartimes.com/index.php/archives/2011/07/12/americans-elect-special-interest-funder-kirk-t-rostron-hedge-fund-operator/On Melvin Andrews. This is from the Lakeside Capital Partner website...
Melvin Andrews is the President and Chief Investment Officer of Lakeside Capital
Partners (“Lakeside”). Mr. Andrews is one of the founders and owners of Lakeside.
Lakeside was formed in 1998 to be a new source of capital for the residential land
development and home building industry. As Chief Investment Officer, Mr. Andrews is
responsible for directing the strategic management and oversight of Lakeside, and each
investment made by Lakeside. In addition, Mr. Andrews oversees the management of
Lakeside’s investment holdings.
Mr. Andrews has over 25 years experience of establishing and managing equity
investments strategies and programs, and directly originating equity real estate
investments. Mr. Andrews was Executive Vice President, Chief Investment Officer and
co-founder of Olympic Realty Advisors (“Olympic”). Olympic was a partner with both
CalPERS and Shamrock Holdings, which is the family investment vehicle for Roy Disney
and is managed by Stanley Gold. In addition, Mr. Andrews was a Senior Vice President,
with Security Pacific Bank and directed all facets of real estate investments, joint
ventures, real estate development, the management of REO, and the restructure of
troubled real estate projects. Mr. Andrews' lending experience involved underwriting,
structuring and negotiating financing for residential and commercial projects developed
by mid-size developers in California, and office, regional mall and mixed-use projects by
large national developers.
http://www.lakesidecapital.com/management.htmlOn Jim Holbrook...
3. Jim Holbrook, who as CEO of the marketing firms Emak Worldwide, Neighbor and Upshot has special interests in the advancement of the marketing industry. More than this, though, Jim Holbrook is Chairman of the Promotion Marketing Association, a trade organization for the $750 Billion industry. The website of the Promotion Marketing Association makes it clear that it has special interests and is dedicated to pursuing those special interests in the spheres of American law and government. It has an entire section devoted to “Legal and Governmental Affairs”, with a publication entitled “PMA Legal Watch,” a “PMA International Law Book,” and an annual Marketing Law Conference. The PMA Bylaws stipulate explicitly that it is an organization dedicating to pursuing the interests of the promotion marketing industry:
The corporation is organized and shall be operated exclusively as the premier trade association for the principal purpose of advancing the interests, addressing the needs, and serving as the preeminent knowledge source for those companies and individuals that have a professional interest in and/or utilize integrated and promotion marketing, and assisting them in better serving the interests of their customers and/or consumers, including by achieving specific, measurable, brand-building goals.
The key elements of this mission are… d. To promote and protect the interests of those who use integrated and promotion marketing techniques; e. To monitor, communicate and encourage an understanding of the laws and regulations that apply to the use of integrated and promotional marketing techniques; … g. To cooperate with federal, state and local government authorities for the good of the consumer, the community and the integrated marketing industry;
… Section 7 – No member shall engage in any conduct that is prejudicial to the best interest of this Association… http://irregulartimes.com/index.php/archives/2011/07/13/despite-pledge-americans-elect-takes-special-interest-money-from-chair-of-promotion-marketing-association/Update, July 29 2011: Another connection emerges. Douglas Schoen, who is on the Americans Elect Board of Advisors, is a pollster for No Labels and a promoter of a Michael Bloomberg candidacy for President.
Update, July 30 2011: Another connection emerges, although No Labels is shoving it down the memory hole. Conservative Democrat Will Marshall has been a Citizen Leader and active blogger for No Labels, and is now a member of the Americans Elect Board of Advisors.
http://irregulartimes.com/index.php/archives/2011/07/28/no-labels-and-americans-elect-a-list-of-known-connections/