Super PAC’s Number One Backer Profited by Helping Ship Jobs to China
COLUMBUS — U.S. Sen. Rob Portman’s Super PAC raised $186,000 last quarter from just four donors writing checks “big enough to buy a car or small condo (in Ohio),” Cleveland.com reported Friday. The lion’s share of that haul came from just one $100,000 check (more than double what the average Ohio family earns in an entire year) written by a Wall Street investor who profited from helping ship jobs to China.
“Senator Portman has spent 25 years in Washington looking out for big money interests at Ohio’s expense, so it’s no surprise Wall Street is writing big checks to keep Portman in the Senate doing their bidding,” said Ohio Democratic Party spokeswoman Jennifer Donohue.
Portman’s Super PAC was created by Barry Bennett, manager of Ben Carson’s presidential campaign. And Portman’s campaign bragged about getting the endorsement of Carson, who has said that prison turns people gay, called the VA health system problems a “gift from God,” and disagreed with the notion that domestic violence is a “terrible plague” affecting many millions of women and families. [more here]
Thomas E. McInerney, owner of the private equity firm Bluff Point Associates, wrote a $100,000 check to Portman’s Super PAC last quarter. [Cleveland Plain-Dealer, 7/24/15]
The median household income for a family in Ohio was $46,398 for 2013. [FRED]
McInerney’s firm, Bluff Point Associates, invested in a company called InnoVest, whose website boasts: “InnoVest tailors our outsourcing engagements to meet clients requirements, considering size and complexity. [. . .] We provide: […] Global Delivery Network – US, India, China, Germany, Japan.” [Bluff Point Associates, Accessed 7/26/15; InnoVest, Accessed 7/26/15]