BREAKING THE PIGGY BANK OPEN
I received a tip from a dedicated reader of Minnesota Democrats Exposed about a recent stock transcation of Matt Entenza's wife.
Here is something interesting I noticed in the St. Paul Pioneer Press on Sept. 3: UnitedHealth Group Inc.: Lois Quam, officer, sold 173,200 shares Aug. 8 at $51.18 per share; option related; holds 24,169 shares.
Lois Quam is of course the wife of House Minority Leader Matt Entenza. You do the math. $8,864,367. How many House seats will that buy? That seems like way too much for a measly Attorney General campaign, could a run at the Governor's Office be in order? Do we have a dark horse candidate for US Senate here in Minority Leader Entenza?
Looks like Entenza is getting some petty cash ready for a run for statewide office.
Here is something interesting I noticed in the St. Paul Pioneer Press on Sept. 3: UnitedHealth Group Inc.: Lois Quam, officer, sold 173,200 shares Aug. 8 at $51.18 per share; option related; holds 24,169 shares.
Lois Quam is of course the wife of House Minority Leader Matt Entenza. You do the math. $8,864,367. How many House seats will that buy? That seems like way too much for a measly Attorney General campaign, could a run at the Governor's Office be in order? Do we have a dark horse candidate for US Senate here in Minority Leader Entenza?
Looks like Entenza is getting some petty cash ready for a run for statewide office.
9 Comments:
I wonder how DFL activists and voters will react to Entenza's wife's money. Will they vote for a man who's entire campaign seems to be funded by a woman who has sqeezed every dime she can from HMO enrollees?
As my old roommate used to day, "Dudes, we all in the wrong business."
Hate to rain on your parade, but in Minnesota, just like in federal elections, you can only spend your own money on elections. Unless that stock was jointly held, his wife can only donate as much to his potential campaign as anybody else.
I am aware of the law and this didn't stop him from donating over $300,000 in 2004.
I am aware of the law and this didn't stop him from donating over $300,000 in 2004.
I believe that the law gets muddled if the money is put into a jointly held account. I could be wrong though.
This slimeball gets around election laws by donating the money to PACs and 527s which then mysteriously spend tremendous amounts of money helping Minnesota House candidates. Because of Minnesota's weak disclosure laws, it is nearly impossible to know his spending habits until after the election.
And then, if buying himself the speaker's chair isn't sick enough, he joins with his DFL co-conspirators in the Senate to kill a bill in 2005 that, while it wouldn't have prevented Entenza-sized donations, would at least tighten the disclosure rules so voters would know who is paying the people knocking on their doors.
Most DFL legislators are nice people, as are most of the GOP. But there are a few on each side that are real assholes. Matt Entenza tops that list.
Read closer. The trade was option related. She did not realize a net ammount of over $8.8 million. She exercised 173,200 shares, which were OPTIONS, netting her an undisclosed sum.
The formula works like this...
Sale price - Strike Price = Realized Gain
For more on options, visit http://biz.yahoo.com/opt/education.html
Lets try to get our facts straight before slandering the opposition.
She would then need to pay capital gains tax on her realized gains.
This is small potatoes compared to Kelly Doran selling a $30 million shopping center to free up cash for his campaign.
Honestly, which is worse, Entenza financing his campaign with his family's money, or someone like Mark Kennedy who’ll have to go from boardroom to boardroom hustling for $4,200 checks?
Post a Comment
<< Home