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Tue May 22, 2012, 07:45 AM

Gingrich's private ventures are going bankrupt

Source: Reuters

By Marcus Stern
Tue May 22, 2012 8:08am EDT
(Reuters) - ATLANTA - When he entered the race for the Republican presidential nomination in May 2011, Newt Gingrich was the prosperous head of a small empire commonly known as Newt Inc, which included both for-profit consultancies and nonprofit foundations.

Altogether, these entwined ventures pulled in more than $110 million over the past decade. Now the vestiges of this empire are mired in debt, as is Gingrich's campaign fund.

A bankruptcy proceeding under way in Atlanta will determine whether the one company still owned by Callista Gingrich, Gingrich Productions, will lose an expected payout that now constitutes the bulk of the Gingriches' net worth.

The bankrupt corporation is the Center for Health Transformation, whose revenues came from the hefty dues paid by corporations for assistance in formulating and promoting certain healthcare policies.


Read more: http://www.reuters.com/article/2012/05/22/us-usa-campaign-gingrich-idUSBRE84L0G620120522



Soooo sad.

37 replies, 7888 views

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Arrow 37 replies Author Time Post
Reply Gingrich's private ventures are going bankrupt (Original post)
mucifer May 2012 OP
mikeytherat May 2012 #1
Carla in Sequim May 2012 #33
mikeytherat May 2012 #35
bemildred May 2012 #2
spartan61 May 2012 #3
mucifer May 2012 #4
Kennah May 2012 #31
Post removed May 2012 #5
gratuitous May 2012 #6
dmr May 2012 #22
louis-t May 2012 #23
gratuitous May 2012 #24
deutsey May 2012 #7
CanonRay May 2012 #8
HereSince1628 May 2012 #9
LiberalFighter May 2012 #10
grantcart May 2012 #11
JCMach1 May 2012 #12
zeemike May 2012 #15
xxqqqzme May 2012 #29
nuxvomica May 2012 #13
cindyperry2010 May 2012 #14
NC_Nurse May 2012 #16
rocktivity May 2012 #17
Crowman1979 May 2012 #18
Enrique May 2012 #19
xtraxritical May 2012 #21
Coyote_Bandit May 2012 #20
Pab Sungenis May 2012 #25
yellowcanine May 2012 #26
Maeve May 2012 #27
calimary May 2012 #28
Canuckistanian May 2012 #30
CreekDog May 2012 #32
jmondine May 2012 #34
sulphurdunn May 2012 #36
Iggo May 2012 #37

Response to mucifer (Original post)

Tue May 22, 2012, 07:48 AM

1. It's sad, so sad. It's a sad, sad situation.

And it's getting more and more absurd.

mikey_the_rat

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Response to mikeytherat (Reply #1)

Wed May 23, 2012, 12:53 AM

33. Oh, now I can't get that song out of my head

I'm going to have to play it tomorrow. Ahhh, Elton & Ray. Love it!

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Response to Carla in Sequim (Reply #33)

Wed May 23, 2012, 04:59 AM

35. Sorry

seems to be the hardest word.



mikey_the_rat

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Response to mucifer (Original post)

Tue May 22, 2012, 07:49 AM

2. He must be a lousy manager. nt

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Response to mucifer (Original post)

Tue May 22, 2012, 07:55 AM

3. So will Calista leave the Newtster

when he can no longer afford to keep her in the style she has grown accustomed to? Certainly she isn't in it for the "Love of Newt."

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Response to spartan61 (Reply #3)

Tue May 22, 2012, 07:57 AM

4. I think she has more money than him.

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Response to mucifer (Reply #4)

Tue May 22, 2012, 11:13 PM

31. In light of this story, that ain't saying much.

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Response to mucifer (Original post)


Response to mucifer (Original post)

Tue May 22, 2012, 07:59 AM

6. The Center for Health Transformation

Its "revenues come from the hefty dues paid by corporations for assistance in formulating and promoting certain healthcare policies."

Anyone know just which corporations are paying just how much for this doubtlessly invaluable assistance in promoting just what healthcare policies? My guess is they're busily transforming the public health for the worse.

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Response to gratuitous (Reply #6)

Tue May 22, 2012, 11:02 AM

22. Here you go:

Acccording to Wiki:
http://en.wikipedia.org/wiki/Center_for_Health_Transformation
Center for Health Transformation
From Wikipedia, the free encyclopedia
Jump to: navigation, search

The Center for Health Transformation is an American think tank and consultancy founded by Newt Gingrich in 2003.[1] In exchange for yearly dues of up to $200,000, the Center offered health-insurance companies, pharmaceutical companies, and other clients direct access to Gingrich as well as other perks.[2] Through 2011, the Center had brought in revenue of at least $37 million from industry groups, but in April 2012 the Center filed for Chapter 7 bankruptcy, planning to liquidate its assets to meet debts of $1–$10 million.


http://www.sourcewatch.org/index.php?title=Center_for_Health_Transformation#Members
Members

The Center's "unparalleled network includes the highest opinion leaders and decision makers in the public and private sectors, top hospitals and health systems, disease advocacy groups, professional and industry associations, and leading research institutions," its website states.[3]

Founding Charter Members

A Charter Member membership[5] is "Open to any organization that pays the annual Charter membership fee" and entitles the member to, among other things, "Quarterly planning sessions for Charter members only"; "Invitation to Charter Member only retreats, summits and special events"; "Invitation to participate on the CHT Advisory Board Invitation for five (5) attendees at all CHT member meetings"; "Invitations to serve on panels"; and "Access to Newt Gingrich on your company’s strategy."

AstraZeneca
BlueCross BlueShield Association
Booz Allen Hamilton
Cancer Treatment Centers of America
DaimlerChrysler
Ford Motor Company
Gallup Organization
GE Healthcare
General Motors Corporation
GlaxoSmithKline
Healthways
MedImpact
Novo Nordisk
Sanford
SHPS
Siemens
Sutter Health
UnitedHealth Group
ValueOptions

Platinum Members

A Platinum Member membership[5] is "Open to any organization that pays the annual Platinum membership fee" and entitles the member to, among other things, "Invitation for three (3) attendees at all CHT member meetings" and "Limited access to Newt Gingrich on your company’s strategy."

Allscripts
AT&T
Barr Laboratories
INTEGRIS Health
Misys Center for Community Health Leadership
UPS
WellPoint, Inc

Premier Members

A Premier Member membership[5] is "Open to any organization that pays the annual Premier membership fee" and entitles the member to, among other things, "Invitation for two (2) attendees at all CHT member meetings Invitation(s) to participate in public panels" and "Participation in advisory groups and creating white papers that go to highest levels". No access to Newt Gingrich is mentioned.

American Academy of Family Physicians (AAFP)
American Hospital Association (AHA)
American Medical Group Association (AMGA)
America's Health Insurance Plans (AHIP)
Amylin Pharmaceuticals
Arcapita
College of Healthcare Information Management Executives (CHIME)
Covisint
D2Hawkeye
deCode genetics
Emageon
Georgia Hospital Association (GHA)
HealthTrio
Hospital Corporation of America (HCA)
Inland Northwest Health Services (INHS)
Intermountain Healthcare
Johnson & Johnson Health Care Systems Inc.
Kelly Services
MedAssets
Medical Justice Services, Inc.
MinuteClinic
Piedmont Healthcare
Quest Diagnostics
Quovadx, Inc.
Saint Joseph’s Hospital
sanofi-aventis
SAP America
Sheridan Healthcare
Society for Neuroscience
TelaDoc
United Cerebral Palsy
WellStar
Wyeth Pharmaceuticals
You Take Control, Inc

Personally, I wouldn't give him 2 cents.

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Response to dmr (Reply #22)

Tue May 22, 2012, 11:29 AM

23. I recognize a few of the names as companies that are under investigation or

have had recent legal problems involving some of their products. Quest and Novo Nordisk come to mind.

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Response to dmr (Reply #22)

Tue May 22, 2012, 11:43 AM

24. Isn't that interesting?

Quite a number of rogues in that gallery, all of them clamoring for "access" to the deathless pronouncements of Prof. Gingrich. Thanks for the information, dmr!

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Response to mucifer (Original post)

Tue May 22, 2012, 08:07 AM

7. What did the five fingers of the invisible hand of the free market say to Newt's face?

SSLLLAP!

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Response to mucifer (Original post)

Tue May 22, 2012, 08:18 AM

8. Maybe he can get a job as a janitor...

and Callista can vacuum office floors at night.

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Response to mucifer (Original post)

Tue May 22, 2012, 08:18 AM

9. Dues payers "SPOOKED BY PUBLICITY PROSPECT", evidence that sunlight is a disinfectant? n/t

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Response to mucifer (Original post)

Tue May 22, 2012, 08:21 AM

10. Another example of what happens when Republicans are in charge.

Hey Tiffany. What have you done with Newt's line of credit?

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Response to mucifer (Original post)

Tue May 22, 2012, 08:30 AM

11. Sometimes the invisible hand does get it right.

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Response to grantcart (Reply #11)

Tue May 22, 2012, 08:33 AM

12. methinks the 'not so invisible hand' has cut-off the money supply

for trying to knee-cap Rmoney.

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Response to JCMach1 (Reply #12)

Tue May 22, 2012, 08:49 AM

15. methinks you are right

there is a price to be paid.

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Response to JCMach1 (Reply #12)

Tue May 22, 2012, 04:29 PM

29. Agree.

His scorched earth campaign has shuttered the usual check dispensing avenues for 'washed ups' and 'never gonna bes'. No faux nuz, no think tanks. He is toxic.

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Response to mucifer (Original post)

Tue May 22, 2012, 08:38 AM

13. Times are tough

When you can't even make money clipping rich people's toenails.

A song for Newt...

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Response to mucifer (Original post)

Tue May 22, 2012, 08:46 AM

14. boo freaking who

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Response to mucifer (Original post)

Tue May 22, 2012, 08:57 AM

16. So much for the "Republican Man of Big Ideas". If only this meant he

would go away, but alas, I'm sure he will rear his ugly head again...

Still, it makes me smile to think of his toadness and his queen having to actually work for a living...at least for a while...

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Response to mucifer (Original post)

Tue May 22, 2012, 09:02 AM

17. Sounds like gig for the DU "Cry Me A River" String Quartet!


rocktivity

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Response to mucifer (Original post)

Tue May 22, 2012, 09:25 AM

18. Couldn't have happened to a more deserving scumbag.

Let's throw a pity party!

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Response to mucifer (Original post)

Tue May 22, 2012, 09:32 AM

19. it's hard out here for a historian

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Response to Enrique (Reply #19)

Tue May 22, 2012, 10:21 AM

21. Contract for America the sequel?

 

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Response to mucifer (Original post)

Tue May 22, 2012, 09:34 AM

20. I suspect

there are some Tiffany diamonds yet to be liquidated.

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Response to mucifer (Original post)

Tue May 22, 2012, 12:21 PM

25. The entire campaign was nothing more than one big book tour

 

funded by donors with the goal of selling books and videos, not getting votes. Rachel Maddow has touched on this a number of times.

That's why Newt ran; he needed to boost income to his business.

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Response to mucifer (Original post)

Tue May 22, 2012, 12:50 PM

26. Might be a good time for Callista to cut her losses.

The Newtser would be cut because he is clearly a loser.

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Response to mucifer (Original post)

Tue May 22, 2012, 01:09 PM

27. That makes me cry

Well, actually, it makes me laugh so hard tears are running down my cheeks, but...

sometimes, there IS justice in the world!

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Response to mucifer (Original post)

Tue May 22, 2012, 01:20 PM

28. I'm so distraught...

Garbage in, garbage out.



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Response to mucifer (Original post)

Tue May 22, 2012, 10:24 PM

30. Pay attention, Sarah Palin

Grifters have an expiry date.

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Response to mucifer (Original post)

Tue May 22, 2012, 11:25 PM

32. That would match his public ventures

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Response to mucifer (Original post)

Wed May 23, 2012, 12:55 AM

34. What happened? Did Romney take them over?

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Response to mucifer (Original post)

Wed May 23, 2012, 05:58 AM

36. It's off to be a FOX contributor.

 

The graveyard of all infamous right-wing political grifters.

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Response to mucifer (Original post)

Wed May 23, 2012, 07:55 AM

37. Wasn't he gonna run this country like a business?

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