May 30, 2007
Companies' money goes where their interests lie
By Jonathan Riskind and Jack Torry
An article about how corporations bundle campaign contributions uses Atlantic Yards developer Forest City as a case study:
Take Cleveland-based Forest City Enterprises, one of the nation's largest developers. Led by Albert Ratner and Sam Miller, Forest City executives have long donated to politicians of both parties, including Ohio lawmakers such as Democratic Sen. Sherrod Brown and Republican Reps. Pat Tiberi of Genoa Township and Deborah Pryce of Upper Arlington.
This year, Forest City executives have been contributing to the Democratic presidential campaign of New Mexico Gov. Bill Richardson.
Why Richardson? One possibility is that Forest City is developing a 13,000-acre commercial and residential project near Albuquerque. Backers of the ambitious project say it will include 10 million square feet of commercial and office space and as many as 100,000 residents.
Figures compiled by the Washington-based center show that Ratner and his relatives have contributed $27,000 to Richardson's presidential campaign, while Miller and his family have contributed $4,600 to Richardson.
The same survey shows that the Ratner family has contributed to only one other presidential campaign, $4,600 to Sen. Hillary Rodham Clinton, D-N.Y. The survey shows that Miller contributed $4,600 to the presidential campaign of Sen. Joseph R. Biden Jr., D-Del.
In addition, the Associated Press reported last month that Forest City and its top officials contributed nearly $150,000 to Richardson's 2006 gubernatorial campaign. That included $25,000 by the company to help pay for Richardson's inauguration in January and three trips for him aboard a jet leased by the company.
NoLandGrab: For those of you who missed Norman Oder's series tracking down local contributions for Forest City, check out AtlanticYardsReport.com:
The Ratner campaign money trail leads to... Michael (& his wife)
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The Ratner contributions just keep coming
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Posted by lumi at May 30, 2007 7:06 AM