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Friday, August 22,2008
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Now a word from our sponsors: Crunching numbers
In 1992, the Democratic and Republican national convention committees took in a whopping $8 million, combined, in private money. You’d think that would buy all the hooch, hors d’oeuvres and balloons that you could possibly want to throw a really bitchin’ political party. But this year, the two conventions are expected to rake in over $110 million in corporate donations. From AT&T to Google and Kraft, from Morgan Stanley to Lockheed Martin, big business is slapping their logos on official DNC tote bags and throwing swank private soirees for delegates and VIPs. Bad for democracy, you say? Nah, that’s just good business.
• $60 million. Estimated total cost of the Democratic National Convention in Denver
• $16.5 million. Amount paid by taxpayers through the presidential campaign fund checkoff
• $5.5 million. Estimated cost of using INVESCO Field at Mile High Stadium for Sen. Barack Obama’s acceptance speech
• “The Diaphragm.” Nickname used by INVESCO executives for the Denver stadium due to its resemblance to the birth-control device
• 125. Number of bloggers credentialed for the convention (as of Aug. 11)
• 30. Number of bloggers credentialed for the 2004 Democratic National Convention in Boston
• 0. Number of bottles of water at committee-sanctioned events: The committee is mandating that all food service be completely green.
• Feb. 1, 2008. Date that AT&T is named the “official wireless service of the 2008 Democratic National Convention”
• July 9, 2008. Date that major telecommunications corporations, including AT&T, were granted retroactive immunity from prosecution for civil-rights violations under the Foreign Intelligence Surveillance Act
• 2,118. Delegates required for nomination
• 2,229.5. Number of delegates pledged to vote for the nomination of Sen. Obama
• $122,000.45. Amount spent per delegate for Sen. Obama’s nomination
• $8,083. Amount spent per delegate for President Bill Clinton’s 1992 nomination
• $12,536.24. Amount spent per delegate for President Bill Clinton’s 1992 nomination, adjusted for inflation
• $6 million. Amount donated to the Democratic National Convention’s host committee by Qwest Communications, the convention’s single largest donor
• $6 million. Amount Qwest donated to the Republican National Convention’s host committee
• 43. Miles of cables that the DNCC has run to set up its systems
• $50 million. Amount of a federal grant to Denver for convention security
• $947,364. Amount spent by Denver Police for surveillance cameras for the convention
• 88. Number of Mark IV launchers with pepper-spray projectiles purchased by the Denver police to assist with crowd dispersal
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Elections 2008
Obama seeks greater rein on financial institutions
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AP - President Barack Obama says he wants Congress to pass legislation giving the government greater regulatory authority over financial institutions like American International Group.
Sources: Pentagon to stop forced tour extension
(AP)
AP - The Army will substantially reduce use of the unpopular practice of holding troops beyond their enlistment dates and will pay $500 to those still forced to stay in the service, defense and congressional officials said Wednesday.
AIG head shares US anger of bonuses but backs them
(AP)
AP - The chief executive officer of failed insurance conglomerate AIG acknowledged Wednesday that the company's multimillion-dollar bonuses were "distasteful" to many and had provoked a firestorm of wrath. "I share that anger," Edward Liddy, chairman and CEO of the American International Group Inc., said in testimony prepared for Congress.
Analysis: White House, Dems backpedaling on AIG
(AP)
AP - For the first time since last fall's election, Democrats and the Obama administration are backpedaling furiously on an issue easily understood by financially strapped taxpayers: $165 million in bonuses paid out at bailed-out AIG.
Pence: Return AIG donations
(Politico)
Politico - House Republican Conference Chairman Mike Pence is urging politicians from both parties to strongly consider returning campaign contributions from AIG.
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Top Stories
AIG head shares US anger of bonuses but backs them
(AP)
AP - The chief executive officer of failed insurance conglomerate AIG acknowledged Wednesday that the company's multimillion-dollar bonuses were "distasteful" to many and had provoked a firestorm of wrath. "I share that anger," Edward Liddy, chairman and CEO of the American International Group Inc., said in testimony prepared for Congress.
Obama seeks greater rein on financial institutions
(AP)
AP - President Barack Obama says he wants Congress to pass legislation giving the government greater regulatory authority over financial institutions like American International Group.
Consumer prices rise by largest amount in 7 months
(AP)
AP - Consumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades.
Crude
