Anti-Tax Group to Run Pro-DeLay Ads
The Associated Press
Wednesday, May 18, 2005; 12:05 AM
WASHINGTON -- An anti-tax group said Tuesday it is will run television ads likening the media and their reporting on Majority Leader Tom DeLay to sharks in a feeding frenzy.
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The group's president, Mallory Factor, would not disclose how much the group will spend on the ads but said the cost will be "well over $100,000." The group does not yet now how long it will run the ads.
Factor said the "liberal media and government" have been attacking free market principles and DeLay, who supports their principles.
"It's a feeding frenzy on DeLay and we want to expose it," Factor said.
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http://www.washingtonpost.com/wp-dyn/content/article/2005/05/17/AR2005051701155.html(Free registration is required)
Mallory Factor
Mallory Factor is a prominent American businessman, president of the public relations firn that shares his name, and a major fundraiser for the political campaigns of George W. Bush.
http://www.answers.com/topic/mallory-factor~~~~~~~~~~~~~~~~~~~~~~~~~~Mallory Factor founded Mallory Factor, Inc. in 1976. This merchant bank has a division that coordinates corporate meetings and events. It also markets corporate investor relations services, sometimes exchanging such services for an equity stake in a company. National Auto Credit (NAC), which made subprime used-car loans, retained these investor-relations services—and put Mallory Factor on its board in 2000, after paying $6.5 million to settle the shareholder lawsuits. Investors had sued NAC after its auditor quit in 1998 because it did not trust management’s numbers. Ironically, as Mallory Factor, Inc., billed NAC $431,000 for investor-relations services, NAC investors filed new lawsuits. The shareholders alleged that NAC directors—including Mallory Factor—breached their fiduciary duty by approving deals that lined the pockets of NAC executives and directors. In one deal, NAC subleased property or new exectutive offices from Mallory Factor, Inc. These shareholder lawsuits were consolidated in 2003, as NAC and the plaintiffs sought to negotiate a settlement. Mallory Factor, who heads the state Business for Growth PAC, became a major GOP kingmaker in New York after anti-tax crusader Grover Norquist advised him to organize monthly “Monday Meetings” of wealthy conservatives, who invite guests to discuss economic and other policies. Politicians flock to the confab, which is a fundraising gold mine. “We support free markets and keeping the burden government places on people’s lives under control,” Factor explained to the Washington Post in 2004. “We also look to change <politicians’> behavior. Sometimes we have to be the conservative eye for the liberal guy.” Factor told the Post that investment bankers support Bush because, “Wall Street runs on a good economy and the president has given us that.” Factor helped the president in 2002 by hosting a $10,000-a-plate fundraiser in his home to help the GOP regain U.S. Senate control. Pioneer Governor George Pataki appointed Factor to the New York State Banking Department board in 2001. Wife Elizabeth Factor is a tax attorney at investment bank Babcock & Brown.
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http://www.whitehouseforsale.org/ContributorsAndPaybacks/pioneer_profile.cfm?pioneer_ID=927