[net-gold] UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY : INDUSTRIES: PETROLEUM : DISASTERS: HURRICANES : UNITED STATES: STATES: NEW JERSEY : POLITICAL: PARTISANSHIP : POLITICAL SCANDALS: Chris Christie's Mansion Fund Collected Millions From Political Favor Seekers
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
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- Date: Sat, 22 Feb 2014 14:30:15 -0500 (EST)
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UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY :
INDUSTRIES: PETROLEUM :
DISASTERS: HURRICANES :
UNITED STATES: STATES: NEW JERSEY:
POLITICAL: PARTISANSHIP :
POLITICAL SCANDALS:
Chris Christie's Mansion Fund Collected Millions
From Political Favor Seekers
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Chris Christie's Mansion Fund Collected Millions
From Political Favor Seekers
Christina Wilkie
Posted: 02/21/2014 12:04 am EST
Updated: 02/22/2014 1:59 am EST
Huffington Post
http://www.huffingtonpost.com/2014/02/21/
chris-christie-drumthwacket_n_4826459.html
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A shorter URL for the above link:
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http://tinyurl.com/l5eap9o
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WASHINGTON -- In January 2010, as newly elected New Jersey Gov. Chris
Christie (R) took office, there was a major change at the top of the
Drumthwacket Foundation, a nonprofit that has restored and helps maintain
the majestic, white-columned governor's mansion in Princeton, N.J.
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John Strangfeld, the chairman of insurance giant Prudential, and his wife,
Mary Kay Strangfeld, volunteered to serve in the top two positions on the
foundation's board. They were elected chairman and vice chairman,
respectively, by the rest of the board that same month.
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The posts may have appeared largely ceremonial. But within the Christie
universe, they were significant. The governor and his family don't live at
the mansion, but the first couple is invested in its restoration and
upkeep. In 2012, Chris and Mary Pat Christie hosted 72 events there, or
about one every five days. The governor is the honorary chairman of the
Drumthwacket Foundation. His wife is the president.
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The Strangfelds, in turn, played the role of fundraiser. Behind the
scenes, they helped raise money from other donors to ensure the
foundation's success, and they were good at it. Prudential itself has
given gifts totaling at least $150,000 over the last several years.
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In November 2011, as the foundation's revenues skyrocketed, the Christie
administration awarded Prudential a record-setting $250 million tax
incentive to move its Newark headquarters a few blocks down the street, to
a shiny new glass office tower.
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From the start, there were questions about the deal. Typically, corporate
tax breaks are granted on the basis of how many jobs a company will create
using the money it's saving on taxes. At the time of the Prudential deal,
New Jersey's tax incentive programs gave out an average of $167,000 per
job. But Prudential received three times that, a whopping $527,000 per
job, in a deal approved by the Christie-controlled New Jersey Economic
Development Authority. When asked at the time why the award was so high, a
spokesman for the governor said the tax break was about development more
than it was about jobs.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://workface.com/e/daviddillard
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