Brownback divests of Sudanese holdings / LJWorld.com

Archive for Wednesday, May 16, 2007

By Jim Kuhnhenn - Associated Press Writer

May 16, 2007

Washington — Republican presidential candidate Sam Brownback, an outspoken critic of the violence in Sudan, divested his stock portfolio of companies that do business with the African nation.

Brownback listed sales of nearly two dozen investments, several of which were mutual funds whose holdings include companies active in Sudan, according to a financial disclosure report he filed Tuesday. Among them was a mutual fund in the name of Brownback's wife valued between $50,000 and $100,000.

"Most of the movement of mutual funds in the portfolio was at the direction of the family to divest of Sudan-related investments," Brownback spokesman Brian Hart said.

Brownback also listed a blind trust held jointly with his wife that is valued between $1 million and $5 million. Last year, Brownback aides said he would seek legal advice on whether he could request that any Sudan-related investments be sold, but under the rules of the trust Brownback cannot be made aware of any transactions.

Brownback was the first presidential candidate to make his financial report public Tuesday as he filed it with the Federal Election Commission.

Other candidates filed their reports with the FEC by Tuesday's deadline. The FEC will make them public within days.

Sen. Hillary Rodham Clinton, D-N.Y., and Republican Tommy Thompson joined three other presidential candidates in obtaining extensions to file their personal financial disclosure reports.

The others who received 45-day extensions are Republicans: former Massachusetts Gov. Mitt Romney, Sen. John McCain of Arizona and former Virginia Gov. Jim Gilmore.

New Mexico Gov. Bill Richardson, a presidential candidate who has called for a dramatic reduction in the use of fossil fuels, holds between $250,000 and $500,000 in stock options from North America's largest independent oil refiner.

Here's a summary of the financial disclosure report Sen. Sam Brownback, R-Kan., filed Tuesday with the Federal Election Commission:

¢ Earned income: $165,200

¢ Major assets: Blind trust, $1 million-$5 million; IRAs, checking account, money market fund and stock in companies including Verizon Communications Inc., AT&T Inc. and Coca-Cola Co., worth $539,024-$6.01 million; 335-acre grain farm in Kansas, $100,000-$250,000; Washington, D.C., condominium, $250,000-$500,000.

¢ Major sources of unearned income: Blind trust dividends, interest and capital gains, $80,003-$200,000.

¢ Brownback's wife, Mary, owns a limited liability partnership worth more than $1 million.

¢ Brownback reported a $15,000 advance last year for a book, "From Power to Purpose: A Remarkable Journey of Faith and Compassion," about his upbringing and his softer-edged conservative worldview.

The deal is worth $75,000 plus royalties; the money will be donated to a fund, started by the Brownbacks, that helps people pay for adoptions. Their daughter Jenna is from China and their son Mark is from Guatemala; both were adopted in 1998.

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16 May 2007
at 9:35 a.m.

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bearded_gnome (Anonymous) says…

DUH! it was about time!

no conservatives should vote for this loser because his stance on illegal immigration is still bought and paid for by big ag/big biz. he opposes the surge, which is a good change of course and is still in its inception. no on brownback!

now, on to repealing the 17th amendment so these senator types don't have to raise such amazing amounts of campaign money and get bought off.
16 May 2007
at 12:55 p.m.

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Jamesaust (Anonymous) says…

“…Sam Brownback, an outspoken critic of the violence in Sudan….”

But an outspoken proponent of Torture for Jesus.

Brownback can write books with titles like “A Remarkable Journey of Faith and Compassion” but its clear that his faith is 'a mile wide and an inch deep'.