12.13.2007

Did Rudy Lobby Illegally? Depends on Meaning Of 'Lobby '

From TPM:

Rudy Giuliani and his cohorts at Giuliani Partners have insisted he's no lobbyist. But there's mounting evidence to the contrary. Maybe he's so averse to the term because his firm lobbied illegally.

Exhibit A is today's Time story, which for the first time reveals details about just what Hank Asher, Giuliani's troubled buddy, paid him so much money to do.

As we laid out in a series of posts last week, Giuliani struck a pretty sweet deal with Asher during his first year of business. Asher's Seisint was hocking its data-mining software, code-named MATRIX, to the government. Rudy's job was to serve as a kind of front man for the company, in part so that Asher's drug-running past wouldn't be an issue. The contract, for a previously untold amount of money, was based on a $2 million yearly fee, commissions, and stock options. A stock holder in the company was so alarmed by the giveaway that he sued Seisint; the case was settled.

Today, Time puts a price tag on all that: $30 million, $24 million of that from stock options. And what did Rudy do for the money? It turns out, plenty.

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