Firms with Obama ties profit from health push

[calfoxwc]

Firms with Obama ties profit from health push

 

By SHARON THEIMER, Associated Press Writer Sharon Theimer, Associated Press Writer – Wed Aug 19, 6:08 pm ET

WASHINGTON – President Barack Obama's push for a national health care overhaul is providing a financial windfall in the election offseason to Democratic consulting firms that are closely connected to the president and two top advisers.

 

Coalitions of interest groups running at least $24 million in pro-overhaul ads hired GMMB, which worked for Obama's 2008 campaign and whose partners include a top Obama campaign strategist. They also hired AKPD Message and Media, which was founded by David Axelrod, a top adviser to Obama's campaign and now to the White House. AKPD did work for Obama's campaign, and Axelrod's son Michael and Obama's campaign manager David Plouffe work there.

 

The firms were hired by Americans for Stable Quality Care and its predecessor, Healthy Economy Now. Each was formed by a coalition of interests with big stakes in health care policy, including the drug maker lobby PhRMA, the American Medical Association, the Service Employees International Union and Families USA, which calls itself "The Voice for Health Care Consumers."

 

Their ads press for changes in health care policy. Healthy Economy Now made one of the same arguments that Obama does: that health care costs are delaying the country's economic recovery and that changes are needed if the economy is to rebound.

 

There is no evidence that Axelrod directly profited from the group's ads. Axelrod took steps to separate himself from AKPD when he joined Obama's White House. AKPD owes him $2 million from his stock sale and will make preset payments over four years, starting with $350,000 on Dec. 31, according to Axelrod's personal financial disclosure report.

 

A larger issue is a network of relationships and overlapping interests that resembles some seen in past administrations and could prove a problem as Obama tries to win the public over on health care and fulfill his promise to change the way Washington works, said Sheila Krumholz, executive director of the Center for Responsive Politics, a government watchdog group.

 

"Even if these are obvious bedfellows and kind of standard PR maneuvers, it still stands to undercut Obama's credibility," Krumholz said. "The potential takeaway from the public is 'friends in cahoots to engineer a grass roots result.'"

 

White House spokesman Ben LaBolt said that Axelrod has had no communications with Healthy Economy Now or with Americans for Stable Quality Care, and his payments aren't affected by the ad contracts. Axelrod's son, a salaried AKPD employee, doesn't work with either coalition "or stand to benefit from that work," LaBolt said.

 

"David Axelrod has fully complied with the toughest-ever ethics rules for administration officials, including divesting from AKPD before the administration began," LaBolt said.

 

Ken Johnson, a PhRMA senior vice president, said GMMB and AKPD were the only two firms working on the $24 million in ads. He declined to reveal how much each was paid beyond saying that each received a small percentage of the total. The coalition's campaign team decided to hire the two firms, he said.

 

"In a perfect world, it's a distraction we don't need right now, but these are very gifted consultants who have done very good work," Johnson said. "And it's also important to remember that at the end of the day, the coalition partners determine the message."

 

Healthy Economy Now spokesman Jeremy Van Ess said the two firms were hired because "they are the best at what they do. Period." The coalition didn't seek approval or direction on any of its activities from the White House, said Van Ess, a partner in a consulting firm that has worked on Democratic Senate election activities and a former speechwriter for Senate Majority Leader Harry Reid, D-Nev.

 

AKPD and GMMB both proudly proclaim their connections to Obama on their Web sites.

 

AKPD has a full page on Axelrod that includes pictures of Obama. In one photo, Obama hugs Plouffe on election night.

 

"We are deeply honored to have been part of Barack Obama's historic campaign to change America and the world," GMMB says on its Web site. GMMB's partners include Jim Margolis, a senior strategist for Obama's presidential campaign.

 

Both GMMB and AKPD also have worked for Democrats this year. The Democratic National Committee paid AKPD at least $106,000 for polling, media production, communication consulting and travel costs from February through April. The Democratic Congressional Campaign Committee paid GMMB roughly $75,000 from February through June for ads. And GMMB took in at least $9,000 this year from Senate leader Reid's political action committee for communications consulting

 

 

 

[calfoxwc]

this deserves it's own thread, but it still ties in with the original -

 

Obama's Acorn and SEIU - tons of money in Porkulus packages.

 

Obama's ties with health care advocacy firms - tons of money in health care bill.

 

Obama's chief financier and leftist idealogue - George Soros - tons of money in Obama's

investment of 2 billion? to a Brazil co to drill for oil offshore.

 

Yep. The false "hope and change" many fools believed in when Obama lied to get elected.

*********************************************************

Obama to invest in offshore oil drilling – in Brazil! Soros stands to reap dividends!

By Lonely Conservative

The Wall Street Journal reported that the Obama administration will invest $2 billion (or more) in drilling off the shores of Brazil, of all places. The left does all they can to keep us from exploring off our own shores. Yet we’re suddenly investing $2 billion – that we don’t have – in a Brazilian oil company?

 

The U.S. is going to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil’s planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

 

The U.S. Export-Import Bank tells us it has issued a “preliminary commitment” letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.

 

Odd, isn’t it? The one who campaigned against oil companies and the use of fossil fuels is now suddenly investing our children’s money in a foreign oil company? This is the same man who said he wanted higher gas prices to break our addiction to foreign oil. Why the sudden change of heart?

 

Could it be pay back to a big supporter? Could the fact that George Soros just traded millions of shares of Petrobas be just a coincidence? Via Hot Air.

 

His New York-based hedge-fund firm, Soros Fund Management LLC, sold 22 million U.S.-listed common shares of Petrobras, as the Brazilian oil company is known, according to a filing today with the U.S. Securities and Exchange Commission. Soros bought 5.8 million of the company’s U.S.-traded preferred shares.

 

Soros is taking advantage of the spread between the two types of U.S.-listed Petrobras shares, said Luis Maizel, president of LM Capital Group LLC, which manages about $4 billion. The common shares were 21 percent more expensive than preferred today, according to data compiled by Bloomberg. …

 

Petrobras preferred shares have also a 10 percent additional dividend, said William Landers, a senior portfolio manager for Latin America at Blackrock Inc.

 

“Given that there will most likely never be a change in control in the company, I see no reason to pay a higher price for the common shares.” Brazil’s government controls Petrobras and has a majority stake of voting shares.

 

Unfortunately, it’s doubtful anyone in the media will pursue this story. The media is oddly incurious about George Soros, his hedge fund and his political connections. A quick search of “George Soros Petrobas” came up with nothing but stories of Soros the investor. Not Soros the puppet master. No questions of Soros and insider trading. Nope. Just Soros, the brilliant investor.

 

Had this occurred under a republican administration there’s no doubt in my mind it would be the lead story on every network news broadcast. Not to mention the 24 hour cable news loop.

 

Even without the Soros connection this should cause outrage on both sides of the aisle. Obama’s letting down his green supporters on the left by investing in off-shore oil drilling, no matter where that drilling takes place . And the right should be outraged because he refuses to invest in drilling here at home – or allow private companies to do so.

 

With only a few exceptions, the silence on this story is deafening.

 

Update: Gateway Pundit has even more on this story with links. Like Obama approving nuclear engery in the UAW but not here at home and how Chevron is drilling in deep waters because of the ban on offshore drilling.

 

 

 

 

 

[calfoxwc]

Oh, so, this is some legit information.

 

But no discussion from Libs? No rebuttal?

 

This stuff is all true, but Obama isn't a corrupt radical somebeech?

 

No, he is.

 

And the bark is cascading off the ugly Obama tree now.

[Kosar_For_President]

Oh, so, this is some legit information.

 

But no discussion from Libs? No rebuttal?

 

This stuff is all true, but Obama isn't a corrupt radical somebeech?

 

No, he is.

 

And the bark is cascading off the ugly Obama tree now.

 

[heckofajobbrownie]

Cal, I don't see what the scandal is. These groups hired a PR/ad firm that used to, but no longer does, have connections with the White House. You're suggesting that the appearance of impropriety is a scandal, rather than something to be monitored for actual abuse.

 

So let me know if you come up with an instance of actual abuse or corruption.

 

As for the Brazil deal, that's a loan to a Brazilian company to buy US goods and services. So?

 

Again, just because it appears on Drudge, or in your inbox, as "scandal" doesn't mean you have to believe it is.

 

Scandals are generally like porn - you know them when you see them.

 

Having the White House political director involved in firing prosecutors who didn't target Democrats in key Congressional districts for prosecution - that would be a scandal.

 

William Jefferson being found with $90,000 cash in his freezer -- that would be corruption.

 

Keep us posted, watchdog.

[Pumpkin Eater]

 

 

so true....

 

People are so blinded by their partisan beliefs that it is pathetic.

[calfoxwc]

Cal, I don't see what the scandal is. These groups hired a PR/ad firm that used to, but no longer does, have connections with the White House. You're suggesting that the appearance of impropriety is a scandal, rather than something to be monitored for actual abuse.

*************************************

Coalitions of interest groups running at least $24 million in pro-overhaul ads hired GMMB, which worked for Obama's 2008 campaign and whose partners include a top Obama campaign strategist. They also hired AKPD Message and Media, which was founded by David Axelrod, a top adviser to Obama's campaign and now to the White House. AKPD did work for Obama's campaign, and Axelrod's son Michael and Obama's campaign manager David Plouffe work there.

*************************************

Heck, are you serious? Can you actually read the above bold print, and tell me there is no conflict of

interest here?

**************************************

There is no evidence that Axelrod directly profited from the group's ads. Axelrod took steps to separate himself from AKPD when he joined Obama's White House. AKPD owes him $2 million from his stock sale and will make preset payments over four years, starting with $350,000 on Dec. 31, according to Axelrod's personal financial disclosure report.

**************************************

AKPD STILL owes Axelrod 2 million bucks. Is it not a tremendous benefit that the OBama admin pays them to

do what they do, and it helps them afford paying Axelrod off?

 

We weren't talking about the ads benefitting Axelrod, Heck. STOP changing the freakin subject,

 

just this one time?

You see no conflict of interest here? How DO you do that?

**************************************

As for the Brazil deal, that's a loan to a Brazilian company to buy US goods and services. So?

 

**************************************

So, if you read "Soros bought 5.8 million of the company’s U.S.-traded preferred shares.", given the relationship

 

between Soros, a huge financier of Obama's election campaign, does "insider trading" ring a bell?

 

How about the fact that that company was having trouble, and the stocks would have slumped, costing

 

Soros a sizeable percentage of his investment?

 

Seriously, you are soaking wet in Egypt, Heck.