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Gingrich’s ® private ventures are going BANKRUPT!

Via: Reuters

When he entered the race for the Republican presidential nomination in May 2011, Newt Gingrich was the prosperous head of a small empire commonly known as Newt Inc, which included both for-profit consultancies and nonprofit foundations.

Altogether, these entwined ventures pulled in more than $110 million over the past decade. Now the vestiges of this empire are mired in debt, as is Gingrich’s campaign fund.

A bankruptcy proceeding under way in Atlanta will determine whether the one company still owned by Callista Gingrich, Gingrich Productions, will lose an expected payout that now constitutes the bulk of the Gingriches’ net worth.

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The bankrupt corporation is the Center for Health Transformation, whose revenues came from the hefty dues paid by corporations for assistance in formulating and promoting certain healthcare policies.

By the time Gingrich sold his majority stake in the center to three associates last May, it had been hemorrhaging clients and facing “cash-flow issues” for roughly a year, according to testimony on May 9 before a U.S. bankruptcy trustee in Atlanta. With the candidate poised to sever ties with the center for the sake of his run for office, it faced an even less certain future.

Nonetheless the three longtime colleagues agreed to pay Gingrich $6.4 million for his stake in the center.

The purchase of Gingrich’s share was made with a promissory note to be paid in monthly installments of $100,000 over six years. Little of that debt had been paid when the center declared bankruptcy last month. As an unsecured debt, the note, it now appears, is likely to go unpaid.

The Gingrich Group bankruptcy proceedings spotlight the remarkable reversal of fortune of the half-dozen organizations associated with Gingrich. The presidential contender recently ended his campaign $4.8 million in debt. A political nonprofit he headed, American Solutions for Winning the Future, which raised $52 million between its founding in 2007 and its dissolution last July, also ended in debt.

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Read more, HERE:

http://www.reuters.com/article/2012/05/22/usa-campaign-gingrich-idUSL1E8GID2320120522

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May 23, 2012 Posted by | 2012, Gingrich, GOP morons | , , , , , , , , | Leave a comment

Eternal Bachelor David Dreier To Leave House, Closet?

Via: Wonkette

The tanned and dapper California Republican who dated Greatest American Hero George W. Bush’s sister Doro, and yet never porked her, not even once (to classy dame Barbara’s great dismay), will leave Congress as his shitty Inland Empire district has been redrawn.

And guess what?

It’s now full of Mexicans.

(Haha, letting “citizens” redraw the districts was supposed to keep it from being gerrymandered by those vicious Democrats. As with everything in the history of democracy — American Idol, America — letting citizens run it turned out terribly.

Even Dreier’s neighbor and beloved “most corrupt member of Congress” Rep. Jerry Lewis is retiring, because of the liberal Mexican menace.

The congressman, who’s second only to Rep. Dana Rohrabacher for Rumors of Ghey, also “dated” leathery Republican mummy and that chick your dad used to choke it to, Bo Derek.

And that is all he is famous for, that and probably liking to sex in men’s bottoms, the end.

http://wonkette.com/465126/eternal-bachelor-gop-rep-david-dreier-to-leave-house-closet#more-465126

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March 1, 2012 Posted by | 2012, GOP morons | , , , , , , , , , , | Leave a comment

The final words of the ‘Dear Leader’.

“See, I told you I was ill!”

-Kim Jong-il

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December 19, 2011 Posted by | Uncategorized | , , , , | 1 Comment

Weepy Rod Blagojevich To Rot In Prison For 14 Years

Via: Wonkette

The end of the comedy career of noted political humorist Rod Blagojevich has finally come as he was sentenced to 168 months ** in jail today, because America has lost its taste for jokes, rampant male sexiness and Elvis impersonators in one fell swoop.

Blaggy has had many valuable fucking contributions to humor, such as the time he dragged a dead Illinois child onto stage at a press conference, or the time he outed himself as a secret Negro because he shined shoes as a child, just to name a couple!

Annnnd we could fill this space with several thousand more examples that can also be easily found with a quick search of the Wonkette archives, but let us hear what Rod had to say for himself before sentencing…

He apologized! Poor Blago had to go “full nuclear” and for the first time in his life admit to the smallest hint of self-awareness. Will miracles never cease?

http://wonkette.com/457812/weepy-rod-blagojevich-to-rot-in-prison-for-14-years

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personal thought:

** I find it unlikely he’ll do the full fourteen-years; don’t know, maybe four or five?

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December 8, 2011 Posted by | Uncategorized | , , , , | Leave a comment