TN GOP House Speaker wannabe fails to disclose 17,000+ comic book collection as "investment"

[doeriver]

"Holy Golden Retirement Plan, Batman!": TN GOP House Speaker wannabe fails to disclose 17,000+ comic book collection as "investment"; Tennessee ethics czar theorizes that Mumpower "may want to be buried" with all his 'toons:

Comic books? Not a problem for House leader
http://www.knoxnews.com/news/2008/nov/12/comic-books-not-a-problem/#comments
Knoxville News Sentinel
Wednesday, November 12, 2008

NASHVILLE - Apparently, House Republican Leader Jason Mumpower need not worry about officially disclosing to the Tennessee Ethics Commission that he has a collection of more than 17,000 comic books.

"My common sense tells me that isn't something that should be reported," said Bruce Androphy, executive director of the commission.

The question was posed to Androphy after a person, asking not to be identified, e-mailed a reporter to note that Mumpower has not listed the comic book collection as an investment on annual disclosures of financial interests that public officials must file with the commission each year.

Mumpower said he has been collecting comic books since age 12 and now, at 35, he has about 17,000 and has never sold one.

"I have no idea of the value," said Mumpower, adding that he had never thought of them as an investment, and insofar as he knows, he has no high-value "collector's item" comics.

State law requires disclosure of investments worth $10,000 or more.

Androphy said investments are typically purchased with an eye toward selling at a profit later, while Mumpower "may want to be buried with them or leave them to his family or something."

Besides, Androphy said, the law is aimed at giving notice of financial interests that could pose a conflict with an official's public duties.

A comic book collection, he said, "doesn't strike me as something the public would need to know about." Androphy said his comments were off the cuff, and he might need to research the matter for a definitive answer.

(...)

Mumpower, who is expected to be elected House speaker in January by Republicans with a post-election 50-vote majority in House, said he keeps a list of all his comic books on a computer. He also reads a comic book each night before going to bed, Mumpower said.

His favorite comics change from time to time, he said. But his current favorite, Mumpower said, is Spider-Man.

***

Statement of Disclosure of Interests (ss-8004) (Mumpower)
Date of Filing 2008-04-14
https://www.tennesseeanytime.org/conflict-app/view_form_8004.htm?name=MUMPOWER&id=10673&f=10110&v=1

Investments
Hilliard Lyons held by Filer Spouse

Sources of Income
Part A

Tennessee General Assembly
103 War Memorial Building, Nashville, TN with recipients Filer

The Corporate Image, Inc.
522 State Street Suite 204, Bristol, TN with recipients Filer

NWP Real Estate Appraisals
607 E. Main Street, Rogersville, TN with recipients Filer
http://www.nancypointappraisals.com/Content.aspx
(mother-in law, Hawkins County)

Patriot Title Company
Shelby Street, Kingsport, TN with recipients Spouse{/blockquote]

***

Profession Code:1501
Profession Name: Real Estate Appraiser
License: ID4198
License Number: 4198
License Activity Description:NOT APPLICABLE
Rank Description: Registered Trainee
First Name: JASON
Middle Name: EVERETT
Last Name / Firm Name: MUMPOWER
Address Line1: P.O. BOX 2221
Address Line 2
City: BRISTOL
State: TN
Zip Code: 37621
Original Date: Oct 17 2007
Expiration Date: Oct 31 2009

About Investments (ss-8004)
http://www.tennesseeanytime.org/conflict/help.html#q6

The name of the corporation or organization must be listed but no dollar amounts or percentages of the investment need be stated.

For the purposes of this question, the following items must be listed as investments if held by you, your spouse or minor child(ren) residing with you:

...

This list is not exhaustive but merely exemplary. If you have holdings that are not mentioned but do meet the dollar amount requirements, they must be listed in question 6. Also, where there are investments managed by entities other than yourself, spouse or minor child(ren) residing with you (such as mutual funds or 401Ks), list the entity managing the account and the type of investment but not the corporations to which the money has been distributed. Do not report holdings that are less than ten thousand dollars ($10,000) in value or five percent (5%) of the total capital.

***

While Mumpower doesn't say a whole lot to the news media about his 17,000+ comic book collection, he is not too shy about sharing info about his comic book collecting with reporters writing for political action committee newsletters; Mumpower's comic book collection grew by 13.33% (2,000 or so new comics between the Feb 2007 and May-June 2008 publication dates of the following two PAC newsletters) over approximately 15 months:

Home Builders Assocation of Tennessee, Inc.
http://64.233.169.104/search?q=cache:DJCzXR15v34J:hbat.phoenix-now.com/PDF/May-June,%2520%2708.pdf+Jason+Mumpower+comic+books&hl=en&ct=clnk&cd=3&gl=us

http://hbat.phoenix-now.com/PDF/May-June,%20'08.pdf

"Representative Jason Mumpower is one of those people. When we asked him about hobbies and what he did in his spare time, he told us that he really enjoyed movies, at the theater or at home, and that his comic book collection was rather extensive. Now this is not a typo – he has a collection of more than 17,000 comic books gathered over a period of 23 years."

and

Tennessee Town & City (Tennessee Municipal League)
FEBRUARY 26, 2007, p. 10.
Jason Mumpower’s wholehearted devotion leads to the youngest leading the House
by Gael Stahl, Editor
http://64.233.169.104/search?q=cache:-QIGarkWz88J:www.tml1.org/pdf/up/2007_-_Feb._26.pdf+Jason+Mumpower+comic+books&hl=en&ct=clnk&cd=5&gl=us

http://www.tml1.org/pdf/up/2007_-_Feb._26.pdf

TT&C: What sparked your political career so early?

JM: My activism in the local party organization after I worked for Ron Ramsey as a teenager. When I devote myself to something, it is my tendency to give it my wholehearted devotion. I latch on to something; I stick with it; I’m all-or-nothing.

I’ve collected comic books for 22 years and have more than 15,000 cataloged and organized. It’s something I like to do. When I go after something, I go after it whole hog.

[captainzorikh]

1. Probably not worth much

If he started collecting when he was 12 and now he is 35 (well, 36 because I am posting this rely a year later) that means that he started collecting in 1983. With only 17,000 comics post-1982 (assuming he did not go hog-wild and pick up any big-ticket items from before that year), it is unlikely that he will have a collection that can actually be sold for more than $1 per book. Collecting comics as a profitable hobby was just hitting the mainstream at that time, as was the first boom of independent comic book companies. There were a few comics that came out that are somewhat in demand because of their rarity, but most of what came out was rather common stuff, and even if it was special, everybody bought it, which means no one needs it anymore, which means no one will buy it, which means it's not worth much.

If he really loaded up his collection in the early 1990's (when he was entering his 20's, a time that many men find themselves with income boosts off their new jobs, low expenses, and thus dispose of their income freely), then his collection will be especially worthless. Everybody bought everything that came out between 1992 and 1994, and ever since has tried to get rid of it. You can see the worn and rotting books in the $1.00, 2 for a dollar, and 4 for a dollar boxes at conventions, flea markets, and in second-hand stores.

If someone was hired to go through his collection with Overstreet's Price Gide and assign each of his 17,000 comics a value according to their condition, even at minimum wage, that person would probably make more money that the total profit after the comics were sold, not even counting the appraiser's salary.