MN GOP CALLS ON MATT ENTENZA TO FUND CAMPAIGN WITHOUT PROCEEDS FROM FAMILY UNITEDHEALTH STOCK OPTIONS
"With the CEO of UnitedHeath Group now calling for an end to company stock options, attorney general candidate Matt Entenza must make known whether he will use the millions his family made off UnitedHealth stock options to fund his campaign.
"Even the current CEO of United Health now says he’s done with excessive stock options. Will ‘consumer advocate’ Matt Entenza say enough is enough and reject the millions the Entenza family has made off UnitedHealth stock options to fund his campaign?”
-Ron Carey, Chairman of the Republican Party of Minnesota
UnitedHealth CEO Calls For An End To Stock Options After Heavy Criticism
UnitedHealth CEO Calls For An End To Stock Options. "As Minnetonka-based UnitedHealth Group has come under increased scrutiny for how it doles out stock options, the company's chief executive, William McGuire, said Tuesday he is recommending that the health insurer suspend any further equity-based awards for most senior executives. The move, announced at the company's quarterly earnings call, came the same day that a front-page story in the Wall Street Journal called attention to McGuire's growing wealth. One of the nation's best-paid CEOs, McGuire held exercisable stock options valued at $1.6 billion at the end of last year.” (Julie Forster, “CEO Wants Insurer To Halt Stock Options,” Pioneer Press, April 19, 2006)
Criticism Of UnitedHealth Grows. "Criticism of UnitedHealth's pay practices has been heating up in recent weeks, after an earlier Wall Street Journal story raised questions about the timing of stock option grants to McGuire and other executives. A shareholder lawsuit followed in late March. On Tuesday, Minnesota's attorney general said he had filed on behalf of the state to become a third party to that suit." (Julie Forster, “CEO Wants Insurer To Halt Stock Options,” Pioneer Press, April 19, 2006)
Entenza & UnitedHealth
Entenza’s Family Fortune Based On Millions In UnitedHealth Stock Options. "Entenza has family money to help finance a campaign. His wife, Lois Quam, is the chief executive officer at UnitedHealth Group's Ovations Division. Public filings show her stock options alone are worth millions, and a stock sale in August brought her nearly $8.9 million." (Martiga Lohn, “Entenza Jumps Into Attorney General Race,” The Associated Press, October 26, 2005)
Entenza Has Refused To Rule Out Spending Family Fortune To Finance AG Race. "The minority leader said he hasn't decided whether to stick to spending limits required to receive public campaign subsidies which would limit him to spending about $73,000 this year and about $364,000 in 2006. He said it might be hard to stand out with voters without exceeding the limit next year, when races for U.S. Senate and governor will hog the spotlight." (Martiga Lohn, “Entenza Jumps Into Attorney General Race,” The Associated Press, October 26, 2005)
"Even the current CEO of United Health now says he’s done with excessive stock options. Will ‘consumer advocate’ Matt Entenza say enough is enough and reject the millions the Entenza family has made off UnitedHealth stock options to fund his campaign?”
-Ron Carey, Chairman of the Republican Party of Minnesota
UnitedHealth CEO Calls For An End To Stock Options After Heavy Criticism
UnitedHealth CEO Calls For An End To Stock Options. "As Minnetonka-based UnitedHealth Group has come under increased scrutiny for how it doles out stock options, the company's chief executive, William McGuire, said Tuesday he is recommending that the health insurer suspend any further equity-based awards for most senior executives. The move, announced at the company's quarterly earnings call, came the same day that a front-page story in the Wall Street Journal called attention to McGuire's growing wealth. One of the nation's best-paid CEOs, McGuire held exercisable stock options valued at $1.6 billion at the end of last year.” (Julie Forster, “CEO Wants Insurer To Halt Stock Options,” Pioneer Press, April 19, 2006)
Criticism Of UnitedHealth Grows. "Criticism of UnitedHealth's pay practices has been heating up in recent weeks, after an earlier Wall Street Journal story raised questions about the timing of stock option grants to McGuire and other executives. A shareholder lawsuit followed in late March. On Tuesday, Minnesota's attorney general said he had filed on behalf of the state to become a third party to that suit." (Julie Forster, “CEO Wants Insurer To Halt Stock Options,” Pioneer Press, April 19, 2006)
Entenza & UnitedHealth
Entenza’s Family Fortune Based On Millions In UnitedHealth Stock Options. "Entenza has family money to help finance a campaign. His wife, Lois Quam, is the chief executive officer at UnitedHealth Group's Ovations Division. Public filings show her stock options alone are worth millions, and a stock sale in August brought her nearly $8.9 million." (Martiga Lohn, “Entenza Jumps Into Attorney General Race,” The Associated Press, October 26, 2005)
Entenza Has Refused To Rule Out Spending Family Fortune To Finance AG Race. "The minority leader said he hasn't decided whether to stick to spending limits required to receive public campaign subsidies which would limit him to spending about $73,000 this year and about $364,000 in 2006. He said it might be hard to stand out with voters without exceeding the limit next year, when races for U.S. Senate and governor will hog the spotlight." (Martiga Lohn, “Entenza Jumps Into Attorney General Race,” The Associated Press, October 26, 2005)
2 Comments:
Umm, okay...so he should refrain from spending a dime of his own money on his race? Money is fungible, after all.
Will Ron Carey also require Republican candidates who have ever made a single centfrom UnitedHealth stock sales to refrain from using ANY of their own money on their races?
How hypocritical is this? Don't Republicans love people who've managed to get rich, however it has happened? George Bush? Jeff Skilling? Ken Lay?
William McGuire has donated hundreds, of thousand to Republicans and Republican organizations over the past few years. In fact, in 2004 he was a Bush "Ranger." (Rangers being an elite class of fundraisers created for the 2004 election cycle who bundled at least $200,000 for the Bush campaign.)
Michael, please ask this question of Ron Cary:
Will you be proposing to the Republican candidates and organizations that have been the recipients of donations from William McGuire that they return those donations?
Please post his answer.
(I'd ask him but I don't think he would talk to me.)
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