corruption in homeland security?

[lazysmurff]

http://www.cq.com/corp/show.do?page=...40923_homeland

Ridge Reports Investments in Homeland Security Contractors
By Tim Starks, CQ Staff
Homeland Security Secretary Tom Ridge had investments last year in a number of companies with contracts with his department and others who want to profit from homeland security, a new list of his assets shows.

Ridge, a former Pennsylvania Republican congressman and governor appointed by President Bush in 2001 to run the nation’s homeland security effort, held assets valued from $100,000 to $815,000 last year, according to information he supplied in a filing with the U.S. Office of Government Ethics. The Department of Homeland Security’s general counsel eventually must approve the filing.

Figuring out the exact value of his assets as reported on the financial disclosure form made public by www.politicalmoneyline.com Wednesday is impossible, however, because of the broad price ranges Ridge can assign to his investments on the disclosure form. For example, he reported investments in 41 companies at values between $1,001 and $15,000, and in 4 companies at values between $15,001 and $50,000.

The disclosure forms for department heads and other top White House officials, known as the Executive Branch Personnel-Public Financial Disclosure Report, are normally completed in May for the year before, according to Politicalmoneyline.com.

Ridge signed his disclosure document Aug. 12. The document became available just this week.

Ridge reported investments in:

• Microsoft, which in July 2003 won a $90 million contract with the department to provide desktop computers and server software. Ridge checked a box saying he had an investment worth $1,001-$15,000 in the company.

• Unisys, which in 2003 was selected to manage four “Operation Safe Commerce” pilot programs funded by DHS. In August 2002, the company won a $1 billion contract with the Transportation Security Administration (TSA) for information technology managed services. Ridge disclosed he had an investment worth $1,001- $15,000 in the company.

• General Electric, which this year undertook airport pilot programs with TSA for its EntryScan3 walk-through explosives detector. Ridge checked the box saying he had an investment worth $15,001-$50,000 in the company.

• Sprint, which completed work this year on a new network for the Federal Law Enforcement Training Center. Ridge said he had an investment worth $1,001-$15,000 in the company.

• Raytheon, a subcontractor to Accenture on a $10 billion contract for DHS’ entry-exit program, U.S. VISIT, as well as a subcontractor to Northrop Grumman on its Homeland Secure Data Network contract. Ridge said he had an investment worth $1,001-$15,000 in the company.

• The pharmaceutical companies Baxter International, Merck and Pfizer, all of which have had a stake in a smallpox vaccine. Ridge said he had an investment worth $1,001-$15,000 in each company.

• Oracle, which has its own “Homeland Security Team” generating homeland security business. Ridge said he had an investment worth $1,001-$15,000 in the company.

Profit Statements
Ridge also reported receiving between $7,000 and $114,000 total in income from his assets on 12 investments, including General Electric, Merck, Baxter and Microsoft.

He reported receiving no gifts, however, nor any reimbursements or travel expenses from any company. He also reported no debt over $10,000 or compensation from one source at more than $5,000.

In response to a late afternoon telephone inquiry, DHS spokesman Brian Roehrkasse first said the department did not have enough time to answer questions about the disclosure form. Pressed further, he shouted an expletive to a reporter and hung up.

Later, in a second telephone conversation, Roehrkasse said, “I don’t know where we are in the process. I don’t know . . . I can’t validate any information you’ve got,” and repeated a string of expletives.

Later, Roehrkasse called back to say that he had spoken to the department’s general counsel’s office, which has not yet signed off on the disclosure report.

“They are going to continue to work through a couple procedural issues on the form,” he said. “However, there are no conflicts of interest.”

Bill Allison, managing editor for the Center for Public Integrity, a government watchdog organization, said the contents of the report warranted scrutiny.

“Not having those investments in a blind trust, still having stock in companies that do business with the agency — that creates an appearance of conflict of interest,” Allison said.

In a section of the disclosure form asking, “Do you Intend to Create a Qualified Diversified Trust?” Ridge checked “no.”

Along with blind trusts, qualified diversified trusts are another method of managing an official’s holdings to minimize potential conflicts of interest while in office.

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i understand that what he does with his money is his business, but i mean, come on.

[thegladhatter]

All those investments look pretty benign to me. I think somebody is grabbing at straws trying to make him look bad.

[YogsVR4]

On the picky side, nobody in government should hold stake in fields that they make determinations on. However - I think its a bad idea not to let government (outside of the president/vice presidet) not invest their money. Its theirs.

Next, I seriously doubt the director of the department made the purchasing decision. He has authorization, but he sure the hell didn't do the research.

What if he couldn't authorize Microsoft because he has some stock and chose Sun instead. Now isn't Sun benefiting because stock was owned in Microsoft.

Its better that the government get the best bang for its buck. I can't say for sure the M$ was the best choice, but one thing is for sure - nobody ever gets fired for going with them. Ever.

[lazysmurff]

like i said, its his money, he can do what he likes with it.

its nice of him to be honest about his interests

[Flatrater]

Originally Posted by lazysmurff

like i said, its his money, he can do what he likes with it.

its nice of him to be honest about his interests

You are doing a Kerry here!

i understand that what he does with his money is his business, but i mean, come on.

Next you say.

its nice of him to be honest about his interests

Now in the topic title you state

corruption in homeland security?

Now which version are you going to stick with?

My opnion is if I have saved my money and I want to buy stocks, I'm going to do it. He may be a public offical who buys and trades stocks and I am sure if you research it enough you can find most companies have a contract thru a government office. So he shouldn't save his money and buy stocks just because you said corruption. He admitted his stock buys and you want to fault him for that.

[Cbass]

Originally Posted by Flatrater

My opnion is if I have saved my money and I want to buy stocks, I'm going to do it. He may be a public offical who buys and trades stocks and I am sure if you research it enough you can find most companies have a contract thru a government office. So he shouldn't save his money and buy stocks just because you said corruption. He admitted his stock buys and you want to fault him for that.

Yeah! And if you just happen to have inside information that has not been made public about those companies, that's your business!

[Flatrater]

Originally Posted by Cbass

Yeah! And if you just happen to have inside information that has not been made public about those companies, that's your business!

In America that is a crime which has a jail term attached to it. And I am sure he has the final say or any say in the awarding of all the government contracts. You are hunting here but there is nothing to hunt.