Rudy's Finances Coming Under Scrutiny
While Rudy Giuliani is running for President in large part on the good will he earned from his 9/11 performance, another aspect of 9/11 could be coming back to haunt him: Revelations about the various ways his businesses succeeded at cashing in on his post-9/11 celebrity. Today's Chicago Tribune offers an extensive examination of Rudy's post-Mayoralty finances, scrutinizing everything from his lucrative speeches to his luxurious travel arrangements. More after the jump.
Among the Tribune's revelations:
• Rudy routinely commands speaking fees of $100,000. He also at times commands expenses such as travel on private jets, up to five hotel rooms for his staff, and a luxury two-bedroom suite with a balcony for himself.
• At charitable events, Rudy's fees have been known to virtually wipe out the donations the event has commanded. One such episode involved a fundraiser two years ago for the South Carolina Hospital Association, at which Rudy spoke and publicly wrote out a check for $20,000. The kicker: the Association was already paying him $100,000. A Republican State Representative voiced his frustration at Giuliani billing a charity so much: "I thought, you know, the guy could give up the money for one night." Rudy later sent $60,000 to the charity after public pressure — apparently taking a net $20,000 plus travel expenses.
• Rudy's various businesses have brought in even more money than the speaking engagements. Rudy's corporate work and lucrative speaking deals have neatly complemented one another. For instance, Rudy's firm negotiated a $43 million retirement package for then-CEO Jay Sidhu of Sovereign Bancorp. At the same time, Rudy lined up a lucrative speaking engagement at the Wilkes University Jay S. Sidhu School of Business and Leadersihp in Wilkes Barre, Pennysylvania, where Sidhu is a trustee.
As the Tribune notes, Rudy was in the private sector and these activities were all perfectly legal — but there are likely more revelations to come. As he seeks the White House, there will inevitably be increased scrutiny of the cash he's hauled in over the last five years. So get ready for more stories like this.















Rudy was a hot-shit prosecutor who became addicted to fame, money, and power. IMO his candidacy is brittle, and when people learn of the above, and are reminded about his protege, Bernie Kerik, whose reported Mob connections and other failings did not keep him from becoming one of the principals of Giuliani Partners, it will collapse.
An example:
http://www.tnr.com/doc.mhtml?i=20061023&s=smith102306
February 8, 2007 1:06 PM | Reply | Permalink
Rudy might be trying to sell his investment bank. One likely buyer is a sheik from... Dubai (according to Radar, anyway). That'll go over well.
thosethingswesay.blogspot.com
February 8, 2007 10:21 PM | Reply | Permalink
Rudy is entirely a creation of the media who gained his noteriety from a few days of grandstanding to become "America's Mayor."
In reality he was a deeply unpopular mayor, with moral, ethical and tempermental problems. He has a plethora of shady, if not outright illegal business dealings and associations with the likes of Bernie Kerik. Further, his somewhat liberal stances on hot button social issues make him an anethema to the xtian right conservatives who vote en masse in primaries. Bringing his mistresss to live with him in the mayor's mansion while still married to his second wife (a huge scandal at the time), who learned of his decision to divorce her from a press conference on television, won't gain him many points with those concerned about morals, either.
Forget about Rudi. He's a joke who started to believe his own hype, never a good thing.
February 9, 2007 1:07 PM | Reply | Permalink