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Feb 05, 2004 - 07:35 PM
Big Insurance & Big Oil Recovery Team?by Carmen Balber
Campaign reports filed late tonight show that Arnold has transferred another $1 million from his "Recovery Team" to the committee to pass his $15 billion bond measure. That makes a total of $2 million transferred into the bond committee in the last nine days. In the same nine days, over $2.5 million poured into the "Recovery Team," with $100,000+ contributions coming from big developers, financiers, insurers, entertainment moguls and oil companies.
All of these dollars were moved almost immediately to the Gov's bond committee. Why the elaborate transfers, which obscure the bond's source of support? Voters are certain to lend more credence to a measure backed by "Governor Schwarzenegger's Recovery Team" than one whose primary backers include: Zenith Insurance Company, New West Petroleum, developer Castle & Cooke and Southern California Edison - all of whom could face tax hikes if the bond measure fails.
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