Group: 1 in 3 Perry appointees donated to campaigns

[Judi Lynn]

April 11, 2006, 10:46AM
Group: 1 in 3 Perry appointees donated to campaigns
Non-profit group says individuals and their families raised $3.8 million over past 5 years


By JANET ELLIOTT
Copyright 2006 Houston Chronicle Austin Bureau

AUSTIN - One-third of Gov. Rick Perry's appointees to state agencies, boards and commissions have been campaign donors to the governor, raising along with their families a total of $3.8 million over the past five years, according to a report released Monday.

Perry's appointees gave an average of $3,769 apiece to his campaign, with appointees to university governing boards among the most generous donors. Educational appointees averaged $10,616.
(snip)

'Big business'
Texans for Public Justice said its report is the first comprehensive analysis of campaign contributions by gubernatorial appointees in Texas. The group said Perry's predecessors also favored big donors with plum appointments.

"Political patronage is big business," said Craig McDonald, director of Texans for Public Justice. "The huge overlap between gubernatorial contributors and appointees strongly suggests that Gov. Perry has an affirmative-action program for wealthy donors."
(snip/...)

http://www.chron.com/disp/story.mpl/politics/3785322.html

[BIgJohn83]

1. Sad to say Perry's an Aggie...BUT

He musta learned all this Bad Bull about appointing cronies from that other Governer,George Dubya...Republicans just suck.

[TomInTib]

2. As a Native Texan, I am surprised at that 1:3 ratio..

I would have thought it was MUCH higher.

"with appointees to university governing boards among the most generous donors. Educational appointees averaged $10,616."

Translation: Killer football game tickets.

[cosmicdot]

3. follow the money -----> UTIMCO

University of Texas Investment Management Company

The University of Texas Investment Management Company (UTIMCO) was formed in March of 1996 by the special efforts of Tom Hicks and Vinson and Elkins. It is contracted by the UT Board of Regents to manage and invest the University's funds. UTIMCO is a first for a state university; it is a private company with control over public funds, including the Permanent University Fund (PUF), Permanent Health Fund, Long Term Fund, Short Intermediate Term Fund and other invested assets. The Board of Directors for UTIMCO consists of UT regents Woody Hunt, Rita Clements, James Huffines, UT Chancellor Mark Yudof, and five other directors.

UTIMCO has proven to be one of several examples of the University's ideals not matching reality. For a university that claims to teach and use basic democratic values, UTIMCO has left its mark as being grounded in anything but. Until the Texas Legislature intervened, UTIMCO insisted on acting in secret and proclaimed itself to be not subject to the public scrutiny. When pressure from various parties finally forced some level of transparency, it quickly became clear that the investment decisions by the company were suspect. UTIMCO has proven itself to be caught in a web of tit-for-tat political favors, and ethically questionable appointments that can be traced back to both big Texas money and George W. Bush. In addition, the performance of UTIMCO's investments have been bleak. The company has lost over $1 billion in the last year alone, including substantial losses from its ties to the scandal-ridden corporations Enron and WorldCom. Even if UTIMCO can post profits for certain investments, UTIMCO has continually performed well below the Dow Jones average.
http://www.utwatch.org/utimco/

http://www.utwatch.org/

from Bushwatch.org ... re the Carlyle Group and Bu$h

Writing in the Arkansas Democrat-Gazette today, columnist Gene Lyons provides more details about Conason's Feburary "Harper's" story. For the first time, Hicks is named: "At the urging of wealthy campaign donors, Bush signed a law 'privatizing' {the $13 million PUF] endowment...The new law set up a non-profit corporation called UTIMCO--the University of Texas Investment Management Co.--to allow a big chunk of the money to be invested more 'aggressively.' A key provision exempted UTIMCO from state laws mandating open meetings and public records....Well, the Dallas firm of Hicks, Muse, Tate & Furst wanted privacy too--especially since its managing partner, a high-stakes player named Tom Hicks, was wearing both hats, his and UTIMCO's. Shallow thinkers might suspect a conflict of interest."

According to Lyons, Conason writes that the "aggressively" investing Hicks committee turned a 16% profit for the fund, "well below the Dow Jones average" and well below what other "agressive" investors have made in the market. However, "an impressive list of GOP worthies and Bush campaign contributors have been direct beneficiaries of UTIMCO's investment strategies." More pointedly, Conason reports that "Within weeks of Bush's inauguration....UT regents entrusted $10 million with The Carlyle Group, a Washington merchant bank staffed by former Reagan-Bush officials."

http://www.bushwatch.com/bushwhitewater.htm


UTIMCO Board of Directors
http://www.utimco.org/scripts/internet/board_members.asp


The Regents


Robert Estrada
Vital Stats
Gubernatorial Campaign Contributions:
-Bush: $270

Years as Regent:
November 2001-February 2005
Residency: Dallas, Texas


Woodley "Woody" Hunt
Vital Stats
Gubernatorial Campaign Contributions:
-Bush: $39,000
-Perry: $73,038

Years as Regent:
February 1999-February 2005
Residency: El Paso, Texas


Cyndi Krier
Vital Stats
Gubernatorial Campaign Contributions:
-Perry: $5,500

Years as Regent:
March 2001-February 2007
Residency: San Antonio, Texas


Rita Crocker Clements
Vital Stats
Gubernatorial Campaign Contributions:
-Bush: $41,106
-Perry: $130,000

Years as Regent:
November 1996-February 2007
Residency: Dallas, Texas


Judith Craven
Vital Stats
Years as Regent:
March 2001-February 2007
Residency: Houston,


Hubbard Scott Caven
Vital Stats
Gubernatorial Campaign Contributions:
-Perry: $22,972

Years as Regent:
February 2003-February 2009
Residency: Houston, Texas


James R. Huffines
Vital Stats
Gubernatorial Campaign Contributions:
-Perry: $7,641

Years as Regent:
February 2003 - February 2009
Residency: Austin, Texas

The UT Board of Regents has ultimate control over the entire UT System. The decisions they make carry the force of statutes under Texas state law. They appoint the chancellor, vice chancellors and university presidents, who are accountable to them and can be recalled at any time. The regents themselves are unelected and unaccountable to students, staff, faculty and citizens of Texas. Regents are appointed by the governor for terms of six years, often in exchange for massive political contributions.

The resumes of current regents are short on qualifications to manage higher education, but very long on experience in the world of personal gain. Most of them are millionaires; ex-regent and would-be governor Antonio "Tony" Sanchez tops the list with an estimated $600 million oil, gas and banking fortune. In the 2002 school year, six of the current regents contributed between $7,000 and $101,000 to George W. Bush's gubernatorial campaigns. Several former regents were among his highest overall contributors. Seven current regents contributed between $5,500 and $130,000 to Rick Perry's 2002 gubernatorial race.

While Texas politics thrives on the patronage system, a seat on the Board of Regents stands out as the state's most expensive and most coveted political appointment. Three regents sit on the board of the secretive and scandal-ridden University of Texas Investment Management Company, which manages $14 billion in state funds.

http://www.utwatch.org/regents/

[superconnected]

4. very educational

thanks for posting.