Moran: the Truth about the McAuliffe Record
by Jerome Armstrong, Tue May 19, 2009 at 01:23:53 PM EDT
Terry replied by preaching about how any discussion of his record was "divisive politics" and "personal destruction" to talk about his past.
Huh? It's his record! As Brian Moran closed out by saying: "We each have records that tell you not just how we will govern, but about our character as well."
The Moran campaign put out a PR backing up that quote with the facts about Terry McAuliffe's record mentioned above (in the extended).
This TV ad just went live in Virginia:
FACT SHEET: The Record Terry McAuliffe's Afraid Of
Terry McAuliffe has never created a single Virginia job.
- "And at a candidates' forum in December, in response to Moran's claim to be the only candidate who had run a business and raised a family in Virginia, McAuliffe boasted of launching five businesses in Virginia. It turned out that all five are investment partnerships, with no employees, registered to his home address in McLean."
(Washington Post, McAuliffe's Background May Prove a Liability, May 3, 09)
McAuliffe made $18 million from Global Crossing and 10,000 people lost their jobs. Also, McAuliffe worked out of Global Crossings' DC headquarters.
- 1997: McAuliffe works out of Global Crossing's DC office. McAuliffe worked as a consultant on retainer for Gary Winnick's Pacific Capital Group out of the company's Washington, DC office. It was at this time that McAuliffe invested in Winnick's plan to own and operate undersea fiber-optic cables, a company that would later known as Global Crossing Holdings. (New York Times, "Friendship Counts; Clinton's Top Fundraiser Made Lots for Himself, Too," December 12, 1999)
- December 1999: McAuliffe Makes $18 million+. McAuliffe told the New York Times that his initial investment in Global Crossing of $100,000 grew to a worth of $18 million, and that he made millions more by trading Global Crossing's stock options after the company went public. (New York Times, "Friendship Counts; Clinton's Top Fundraiser Made Lots for Himself, Too," December 12, 1999)
- January 28,2002: Global Crossing files for Chapter 11 bankruptcy. 10,000 employees lost their jobs when Global Crossing closed shop. Many say massive losses in retirement investments. (CBS News Web Site, "Troubled Companies: Global Crossing,"http://www.cbsnews.com/htdocs/troubled_c ompanies/framesource_globalcrossing.html )
Terry McAuliffe was a Director at Telergy, where he made $1.2 million and resigned from the Board within days of firing 615 people.
- August 1999: McAuliffe is named a Director on the Board of Telergy. He has reportedly been helping the company for three years prior. (The Post-Standard, "Wired: Inside Telergy," December 10, 2000)
- September 1999: Global Crossing, which would later go bankrupt itself, invests $40 million in Telergy after McAuliffe's encouragement. In December, McAuliffe would admit to contacting Global Crossing on Telergy's behalf. (Business Wire, "Global Crossing Acquires Rights to New York Fiber Network," September 15, 1999; September 16, 2002; The Post-Standard, "Wired: Inside Telergy," December 10, 2000)
- December 1999: Telergy pays McAuliffe at least $1.2 million for raising money for the company. McAuliffe would not say who else, besides Global Crossing, he had contacted to invest in the firm. (The Post-Standard, "Wired: Inside Telergy," December 10, 2000)
- August 8, 2001: Telergy lays off 150 employees without giving them any severance pay. (Associated Press, "Tech Bust Hits Telergy, 150 Lose Jobs," August 9, 2001; The Post-Standard, "Florida Company Owed $47,000 by Telergy," August 18, 2001)
- August 18, 2001: McAuliffe claims he was not aware of Telergy's financial troubles and that he had resigned from the Telergy Board just two weeks prior. McAuliffe claimed "I just do not have the time to be on any board." (The Post-Standard, "Florida Company Owed $47,000 by Telergy," August 18, 2001)
- September 2001: Telergy lays off another 300 employees without severance. (The Post-Standard, "Telergy Founders Share $1.5 M; Nothing for Laid Off Workers" December 6, 2001)
- December 21, 2001: Telergy declares Chapter 7 bankruptcy. A total of 615 people have lost their jobs. (The Post-Standard, "Judge Agrees to Liquidation for Telergy," December 15, 2001)
Terry McAuliffe has not created 100,000 jobs, though he claimed, "[I] created over 100,000 jobs." Terry McAuliffe, Farm Team debate, May 19, 2009
-Microsoft employs 95,029 people, worldwide. Did Terry McAuliffe really create more jobs than Bill Gates? (http://www.microsoft.com/presspass/insid efacts_ms.mspx)
-IBM employs 115,000 employees in America. Has Terry McAuliffe really created as many jobs as the inventors of the personal computer? (ftp://ftp.software.ibm.com/annualreport/ 2008/2008_ibm_annual.pdf, p53)
-Google employs 20,164. Has Terry McAuliffe created more jobs than the most successful internet company of the past 5 years?
Tags: 2009, Brian moran, Creigh Deeds, Governor, Terry McAuliffe, Virginia (all tags)
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