MYDD: Spitzer May Face Primary Challenge (GOP fundraiser wants Suozzi!!))

[Ignacio Upton]

We have to expose Langone, and make Suozzi stay out of the race!
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http://www.mydd.com/

Spitzer May Face a Primary Challenge
by Scott Shields

Why, why, why, why, oh why?

Newsweek is reporting that Ken Langone, billionaire and former New York Stock Exchange compensation committee chairman, is out to destroy New York Attorney General and 2006 gubernatorial candidate Eliot Spitzer. In that position, Langone approved an unheard-of $140 million pay package for NYSE chairman Dick Grasso. Langone and the rest of the compensation committee were a hand-picked crew of Grasso's cronies and apparently misled the full NYSE board about the details of his compensation. When it came out, Grasso was asked to leave and then sued by the NYSE for repayment.

Arguing that Grasso's compensation was illegal under New York state law, which dictates that executives of non-profits (like the NYSE) receive only "reasonable" pay, which is "commensurate with services performed," Spitzer sued to have Grasso's pay package overturned and replaced with something less extravagant. Also named in the suit was Ken Langone. Though Grasso and Langone claims these charges were baseless, Frank Ashen, the NYSE's head of HR, admitted that he misled the board in regards to Grasso's compensation and made a $1.3 million payment to the NYSE.

<<Since then, Langone and Grasso have repeatedly attacked Spitzer, mostly in the press, and mostly in the arch-conservative Wall Street Journal op-ed pages. Now it seems they're planning on taking their vendetta one step further. Langone is working to get Nassau County Executive Tom Suozzi to challenge Eliot Spitzer in the New York gubernatorial primary next year.>>

<<The other troubling factor here is that Langone is a hardcore Republican financier. Like all good executives (he's a co-founder of Home Depot), Langone gives to a few top Democrats as well. But he's given about ten times more money to Republicans than Democrats.>>

<<Looking at Langone's giving patterns, something jumps out at me. He donated $2,000 to William Weld's 1996 campaign for Senate. These days, Weld and Langone still run in the same Wall Street social circles. And it's quite possible that Bill Weld will be the GOP candidate for Governor facing Eliot Spitzer next year. A well-funded, bruising Democratic primary might even the 2006 playing field for Weld.

This wouldn't be the first time Ken Langone has used some bizarre tactics to attack a political opponent. In 1999, while Langone was on the board of Tricon Foods, Pizza Hut ran television spots in New York that mocked then-likely Senate candidate Hillary Clinton. Tricon is Pizza Hut's parent company. Langone was a former finance chairman for and major financial backer of Rudy Giuliani -- then expected to be Clinton's opponent. Democrats cried foul, calling the commercial an illegal contribution.

Here's hoping Tom Suozzi doesn't let himself get played by Ken Langone's dirty tricks.>>

[no_hypocrisy]

1. Langone is also out to destroy Suozzi.

Tom Suozzi is doing a remarkably good job as Nassau County controller. He has taken a history of bad budgets and made appropriate cuts while trying not to raise taxes. There is more effectiveness in county government, etc. My guess is that the republican power brokers feel that he's doing too good a job and want to get him out of Nassau County by promoting him, so to speak. (A similar situation when Teddy Roosevelt was putting too many criminals in jail as the NYC police commissioner and Tammany Hall tried to get rid of him by putting him in Albany as the governor).

[Renew Deal]

2. I think Suozzi is running.

I think he's running no matter what. Suozzi says that either he moves up or he leaves county exec when his term ends. I hope Suozzi doesn't take dirty money.

[Ignacio Upton]

3. If he does, then I hope he eats shit

Suozzi seems like a decent guy, from what I know about Nassau County politics (I know little, other than that he wrestled the county away from Republicans). But if he thinks that he can just go ahead and divide the Democratic Party in this critical election, then fuck him. Spitzer should offer him Lt. Gov. as a peace offering if he wants to be in Albany so bad

[sabbat hunter]

4. suozzi

is running for county exec re-election this year. he has definite eyes on higher office. but he is an effective leader, is able to get republicans to vote for him (very much needed in a county where republicans out number democrats 3-2) he is a straight shooter for the most part and would make an excellent Governor. he has experience in balancing budgets, cutting the fat etc, would probably make a great Governor.


david