SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
More anti-Rauner oppo dumps

Monday, Feb 24, 2014

* Crain’s

Gubernatorial candidate Bruce Rauner backed the boutique investment firm of a longtime business associate several years ago, only to be surprised when the Securities and Exchange Commission later shut down the firm for fraud.

In 2004, Mr. Rauner made a personal $4.5 million startup investment in fund manager Acartha Group LLC, a suburban St. Louis firm founded by Burton Douglas Morriss. Before Acartha, Mr. Morriss had already arranged one deal in which the duo made more than $75 million. Mr. Rauner, an avid outdoorsman, also owned a hunting camp with Mr. Morriss.

But in 2012, the SEC seized control of Acartha, accusing Mr. Morriss of defrauding investors of $9.1 million.

Mr. Rauner was a “passive investor” who was “misled and defrauded” by Mr. Morriss, like dozens of others, Mike Schrimpf, a spokesman for Mr. Rauner’s campaign, says in an email. “Bruce is angered and outraged by Morriss’ actions.” […]

The experience with Acartha could undercut his pitch that he is a savvy business executive who would bring that expertise to Springfield, a key part of his campaign for the Republican nomination for governor in the March 18 primary.

* And Doug Ibendahl has a long and involved piece about a new court filing in the Rauner-linked nursing home case. Click here to read the whole thing.

- Posted by Rich Miller        


27 Comments
  1. - Formerly Known As... - Monday, Feb 24, 14 @ 10:44 am:

    If Schrimpf is correct, this one won’t have much legs.

    Throw enough stuff like this out there, however, and pretty soon all those little matches start a great big fire.

    Looks like smoke on yonder horizon.


  2. - Anonymous - Monday, Feb 24, 14 @ 10:45 am:

    It may undercut him, but the fact that he is a billionaire with many varied $ interests would also lend credence that he knows his way around the business world, for better or worse, hook or crook


  3. - Samurai - Monday, Feb 24, 14 @ 10:50 am:

    Contrary to what the Tort Reformers would have us believe, juries just don’t award millions of dollars on BS cases with no liability and damages. No defense that you let the corporation default. Just a business strategy to save litigation costs because you are judgment proof.

    The affect of this on Rauner supporters? Mostly zero. They believe Rauner and his companies are the victims of greedy trial lawyers. The same goes for the anti-Rauner literature; just those union bosses beating up on Brucie.


  4. - Cincinnatus - Monday, Feb 24, 14 @ 10:54 am:

    This goes right to the heart of Rauner’s claims that he will run the government like a business. And why is Rauner settling RICO claims?

    Shake down Springfield is the motto…


  5. - wordslinger - Monday, Feb 24, 14 @ 10:54 am:

    He’s a tough, “hands-on” guy who wants to run the state likes his businesses and shake things up.

    But whenever any heat comes his way, he’s a “passive investor,” or didn’t know who worked for him, or wasn’t really involved, or can’t remember who talked to whom.

    You can’t be Sgt. York and Sgt. Schultz at the same time.


  6. - William j Kelly - Monday, Feb 24, 14 @ 10:55 am:

    Running government more like a Busness? Good. Running government like a rauner Busness? Despicable! If rauner wins the republican primary you can count on an independent canidate for governor!


  7. - Anonymous - Monday, Feb 24, 14 @ 10:55 am:

    =The affect of this on Rauner supporters? Mostly zero. They believe Rauner and his companies are the victims of greedy trial lawyers. The same goes for the anti-Rauner literature; just those union bosses beating up on Brucie.=

    Then how about getting to special treatment to get his daughter in to a highly competitive high school or paying hundreds of thousands of dollars to democratic politicians? What do Rauner supporters feel about that?


  8. - Oswego Willy - Monday, Feb 24, 14 @ 10:57 am:

    Way too little, WAY too late for this “little”

    However…

    ===You can’t be Sgt. York and Sgt. Schultz at the same time.===

    Great line. Perfect. Just too late(?)


  9. - VanillaMan - Monday, Feb 24, 14 @ 10:59 am:

    All the has to do is convince voters he will be better than Quinn and won’t go to jail like Ryan and Blagojevich.

    In a party full of losers like the Illinois GOP and in a state filled with crappy governors - it doesn’t take much and Rauner has enough.


  10. - Rich Miller - Monday, Feb 24, 14 @ 11:02 am:

    ===I’m thinking the UMWA under John L. Lewis for one example===

    The guy founded the CIO, which changed the very nature of organized labor in this country and raised living standards for millions. Perhaps you could learn some history as well.


  11. - Grandson of Man - Monday, Feb 24, 14 @ 11:03 am:

    “What do Rauner supporters feel about that?”

    I would also like to know how they feel about Rauner running as an “outsider” to stand up to “corrupt” union bosses and politicians, when he was one of the people profiting immensely from the status quo, via government employee pensions.


  12. - Walker - Monday, Feb 24, 14 @ 11:27 am:

    Venture Capital World includes some deceptive practices, hidden financial manipulation, destructive behavior, and outright marketplace and investor fraud. That is sometimes why so much profit is produced.

    It is also filled with risk and has some very talented, hardworking, and ethical players. Some win big in the right ways. Even the best cannot avoid some of the slime splashing on them.

    It is more “shark tank” than “business incubator.”

    It’s not the typical large corporate or small business world and culture.

    Bringing the Venture Capital World into government is not the same as “running government like a business” as the voters generally thing of the phrase.


  13. - wondering in Lake County - Monday, Feb 24, 14 @ 11:37 am:

    Remember the deal that made Rahm Emmanuel a rich man:
    Rauner made lots of money - $100MM into $500MM in less than 6 months
    Rahm received huge commissions
    Daley was running SBC
    3,500 employees outsourced or sacked
    Oh - by the way, the buyer, TYCO CEO, Dennis Kozlowski, he went to jail too.

    Rauner runs with a very dangerous crowd…….


  14. - A guy... - Monday, Feb 24, 14 @ 11:42 am:

    Venture Capital by its very nature is a high risk/high reward business. There are people who act fraudulently on too regular of a basis. Think of all of the state and federal funds that have been wasted or squandered before they got to the place where they were intended. This one’s pretty hard to explain to people in a way they could understand it fully. It’s also 2004. This kind of “oppo” is reaching. I can see why it was the third or fourth arrow. They’d have been better off trying to pound their first two. Now it’s officially reaching.


  15. - very interesting - Monday, Feb 24, 14 @ 11:56 am:

    Rauner obviously is better at making money off unprotected seniors living in his substandard nursing homes.


  16. - Samurai - Monday, Feb 24, 14 @ 12:03 pm:

    A tale of two early Conservative Southwest Suburban Endorsers after receiving the first anti-Rauner mailer.

    Hello committee:

    Just read the Shearer anti-Rauner mailer. Wondering if we made a mistake at the endorsement session. This is pretty scary stuff about Rauner if true. He [Rauner] always said he played with the powers that be and that has always been the Democrats. So the question is, will he continue playing his game for his benefit after elected. In the future we should obtain more information about candidates before a vote.I am no longer sure about our choice.

    Demitri:

    The mailer was powerful and many voters will be influenced by it. A lot of insinuations, but just the same old unproductive smear tactics used by these other candidates that should be saved for Durbin and Obama. It is all so repulsive from those that have corrupted this State.

    Take away for me. The “One Percenters” know, but don’t care; Rauner is their guy. The others, don’t know and if they come to know, just might suffer buyer’s remorse. Better before the primary than after.


  17. - RNUG - Monday, Feb 24, 14 @ 12:32 pm:

    – You can’t be Sgt. York and Sgt. Schultz at the same time. –

    –Word–, great comparison.


  18. - RNUG - Monday, Feb 24, 14 @ 12:36 pm:

    If the nursing home allegations can hold and be boiled down to a few simple items, that is the message that will hurt downstate. Don’t think there is enough time and money to get the message out.


  19. - PoolGuy - Monday, Feb 24, 14 @ 12:39 pm:

    – You can’t be Sgt. York and Sgt. Schultz at the same time. –

    brilliant Word


  20. - Robert the Bruce - Monday, Feb 24, 14 @ 1:28 pm:

    ==If the nursing home allegations can hold and be boiled down to a few simple items, that is the message that will hurt downstate. Don’t think there is enough time and money to get the message out.==

    Agree with you completely, RNUG.

    There are so many attacks on Rauner - “he’s too rich/out of touch” / “he’s a hypocrite cheap watch-wearer” / “he invested in some companies with unethical practices” / “he used his influence to get his daughter into a better high school” / “his economic programs don’t add up” - so many things to attack him on, but none an election death blow.

    But profiting off of endangering seniors? That’s the outside chance of taking him down. And it needs a compelling victim. A son/daughter of someone who was abused in the nursing home, telling the story, crying on camera.


  21. - RNUG - Monday, Feb 24, 14 @ 2:47 pm:

    Yeah, any attack ad needs to be short, factual but blunt to the edge of libel, and needs a single theme. Then it needs to be run constantly.


  22. - wordslinger - Monday, Feb 24, 14 @ 3:44 pm:

    –Yeah, any attack ad needs to be short, factual but blunt to the edge of libel, and needs a single theme. Then it needs to be run constantly.–

    Rauner’s cease-and-desist demand on the “ineffective” nursing home spot certainly implied defamation of character and libel. There are remedies in law for that.

    You want to go that route, dude, presenting facts to a judge in a court of law? You chose not to defend yourself in the bustout of the nursing homes, instead walking away and hiding in bankruptcy.

    Yeah, run the state like your businesses.

    Shake it up, daddio. Put your big-money where your eternal-victim-mouth is.


  23. - D.P.Gumby - Monday, Feb 24, 14 @ 3:53 pm:

    Great line Word, but does enough of the public remember the two Sgts?


  24. - RNUG - Monday, Feb 24, 14 @ 5:32 pm:

    –word–

    I agree he ducked court on that one even though he now sends a cease and desist. I’m thinking an even blunter attack ad on his buying the election needs to be run. I could write it in about 30 seconds but I don’t know if anyone would have the guts to run it.


  25. - wishy washy Republican - Monday, Feb 24, 14 @ 6:37 pm:

    I’m thinking more of Rauner just because Ibenthal is always wrong


  26. - Just The Way It Is One - Monday, Feb 24, 14 @ 8:04 pm:

    The Pounding (sorry, Bruce, but you’re in the “Big Time,” now Rich Palomino) continues, and it will not STOP now until Election Day, and I mean the BIG One…in November. And, sadly, no Coat of Armor he tries to put on or arrow he tries to fling back (via TV/radio response ads) will be able to shield him from suffering some real serious, painful body blows, many which’ll be peneTRAtions that will jolt him like a bolt of lightning, he will have to TAKE those hits, and they WILL inevitably cause br damage–in fact, they already HAVE…! How he fares in the end depends in part how well he can weather these blows…most Republicans in Illinois in recent years in Big Races like the Upcoming General have not and cannot…


  27. - Think About It - Tuesday, Feb 25, 14 @ 8:37 am:

    Note the words that Mr. Rauner made a PERSONAL donation. How can he be trusted to run our government when he now has a track record of both personal and business decisions that are very poor, and VERY wrong.


Sorry, comments for this post are now closed.


* Reader comments closed for the holiday weekend
* "The State will call on whatever resources it needs" to maintain services during a strike
* *** UPDATED x1 - Rauner admin responds *** CPS announces furlough days after Rauner veto
* Vallas to CSU board
* Kool changes his tune, now pushing solar
* Rauner administration responds to AFSCME setting strike authorization vote
* The "war on sugar" is about to hit a new level
* The rest of the story behind Madigan's corporate tax cut idea
* We desperately need some unifying doers
* Question of the day
* AFSCME sets strike authorization vote
* CMS moving ahead with scaled back layoff plan
* Justice Department finds reasonable cause to believe CPD engages in unconstitutional pattern of deadly force
* Rep. Jones accused of misusing campaign funds
* Unclear on the concept
* Open thread
* Cullerton's speech, lightly annotated
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............
<


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

  
* A woman in Florida drove right into a T-Mobile store, blames “bad day”
* Android 7.0 Nougat is out now for the unlocked HTC One A9
* Insider states the obvious: the battery caused Samsung’s Galaxy Note 7 to explode
* Apple iPhone 7 review
* Limited time BLU Life Max sale brings the new phone’s price down to $80
* NVIDIA’s SHIELD TV is now available in the U.S.
* Republic Wireless adds Moto G4 Play to growing roster of affordable WiFi-first phones

* Healthy Tilson should boost hometown White Sox
* Frazier, 4 others agree with Sox on 1-year deals
* Frazier, 4 others agree with Sox on 1-year deals
* Sox, Jennings reportedly reach 1-year deal, avoid arbitration
* Steverson evaluates 4 young Sox hitters
* Minicamp serves distinct purpose for White Sox
* Sox see Collins becoming 'very good catcher'

...............


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress

Loading


* Rauner, Duckworth attend King Day service event.....
* Rauner, Duckworth attend King Day service event.....
* Rauner, Duckworth attend King Day service event.....
* Rauner, Duckworth attend King Day service event.....
* Rauner, Duckworth attend King Day service event.....
* Illinois governor signs school, daycare lead-te.....
* Rauner, Duckworth attend King Day service event.....
* Illinois governor signs school, daycare lead-te.....
* Vote in the Scott Stantis cartoon caption conte.....
* Illinois governor signs school, daycare lead-te.....


* Rauner, Duckworth attend King Day service event in Chicago
* 34-year-old Chicago man ID'ed as man fatally shot by police
* Chicago police officer charged with felony sexual assault
* Illinois governor signs school, daycare lead-testing law
* Congregation hopes to rebuild after fire destroys church
* Illinois teachers embracing presidential inauguration
* Chicago aldermen request review of City Hall lawyers
* Off-duty Chicago sergeant wounds person after shots fired
* Illinois governor signs school, daycare lead-testing law
* EXCHANGE: Dollhouse at children's hospital a labor of love

* Lead testing for schools, day cares signed into law
* Illinois governor signs school, daycare lead-testing law
* Illinois Senate vows swift action on ambitious budget plan
* Ex-Rep. Don Moffitt appointed to state Agriculture Department post
* AFSCME schedules state employee strike authorization vote
* AFSCME schedules state employee strike vote
* AFSCME schedules strike vote
* Antiquated system leaves Stratton Building’s lights on overnight
* Illinois prepares to celebrate 200 years with new state logo
* Justices hear arguments over hospital tax exemptions

* Like our roundup? Share it around.
* Who's hiring in Chicago in 2017
* Trump and Blagojevich share much more than big hair
* The hottest lender in Chicago? It's not a name you know
* Why a hospital turf war is cranking up in the south suburbs


* GB once ‘reached’ in draft with Aaron Rodgers; Bears’ turn now?
* IMF boosts growth forecast for US, cites Trump impact
* TCF Bank robbed in Franklin Park
* No injuries in fire at manufacturing building in St. Charles
* Midterm grades are in for the Bulls, and they’re not pretty
* Man, 28, shot in Grand Crossing
* Second City e.t.c. takes kinder, gentler approach to Trump era
* Top-line left wing still the missing piece for Blackhawks
* Wife of Orlando shooter arrested for obstruction: official says
* Man with Chicago ties on FBI’s most wanted list found in Texas


* 'It's inspiring': Cubs' Contreras pays visit to Advocate Children's Hospital
* For fan in chief Obama, a Chicago champion caps his own record run
* Add closer to the list of Jimmy Butler's new wrinkles
* Historical secret no longer: We've already had a female president
* Martin Luther King Jr. Day highlights transition from Obama to Trump
* Valparaiso adds three new officers to force
* In Second City e.t.c.'s 'Fantastic Super Great Nation Numero Uno,' the laughs take the long view
* Barrington boy dies after falling off bicycle
* Martin Luther King Food Drive helps needy in Elgin
* Wife of Orlando nightclub gunman arrested, charged with obstruction of justice, U.S. official says


The widget AQL4JYGHIY powered by Feed Informer does not exist.


* Lead testing for schools, day cares signed into law
* Illinois governor signs school, daycare lead-testing law
* Allan Woodson: Proud of President Obama
* Their View: Be a lifesaver; sign up to become an organ donor
* Illinois Senate vows swift action on ambitious budget plan
* Our View: It’s up to us if MLK’s legacy of service continues
* Bernard Schoenburg: DelGiorno says Democrats would be better without Madigan
* Schoenburg: DelGiorno says Democrats would be better without Madigan
* Schoenburg: DelGiorno says Dems would be better without Madigan
* Statehouse Insider: Let's chant: Two more years, two more years


* MLK's dream continues on in Davenport
* The latest: Fog lifting, but chance of rain remains
* PODCAST: Central Illinois Business 1-14-17
* Oklahoma City firefighters rescue cow stuck in pool
* Illini Preview: 'Expecting a fight'
* Who's in the news? Scott Naumann
* Updated: dense fog advisory extended
* Illinois governor signs school, daycare lead-testing law
* Dense fog advisory extended until 3 p.m.
* Noon update: More rain, Rock River and cow in a swimming pool


* Obama celebrates World Series champion Chicago Cubs
* Bartlett police investigate rollover crash
* Rauner signs bill requiring school lead tests
* Judge rejects bid to halt Indianapolis cemetery project
* Chiefs' Andy Reid believes holding should have been no-call

* House lawmakers overcome hurdle on key tra...
* Rodney Davis talks funding with Bloomingto...
* The agency that fought Illiana gets a new ...
* Rep. Dold takes educational cruise down Ch...
* Lawmakers decry high turnover rate of VA h...
* CBD Oil, and politics
* Simon considering state Senate bid
* Killer Congressman Tom MacArthur trying to...
* Shutdown? State may not notice
* Rep. Bob Dold

* Menendez, Durbin Praise Final HUD Lead Saf......
* Menendez, Durbin Praise Final HUD Lead Saf......

* Here's what happened in week 2 of the Colo......

* This long running blog...
* Democrat Franks spotlights Illinois' property tax devastation
* Where's Weyermuller? Marching with life lovers in Chicago
* Thorner: Misguided conservatives ramp up efforts for Constitutional Convention
* Di Leo: Sergeant York and the Affordable Care Act
* John Lewis and Donald Trump.
* If Betsy DeVos is a friend of a NEA “friend of education” is she a friend too?
* Update on East Aurora charter. Board votes unanimously against it. Now it goes to the state Charter Commission.
* We’re on ‘GN tonight with Justin Kaufman.
* Famous presidential denials.


* Governor Announces Appointments
* Illinois Targeted Violence Prevention Program Receives $187,000 U.S. Department of Homeland Security Grant - Funding will support community training and engagement programs
* Governor Rauner Announces #GovClassroomVisit
* IDoA tips for winter weather preparedness - Health hazards to be aware of during the winter months that could affect older adults
* IDNR announces $3.6 Million in Land and Water Conservation Grants - Federal funding helps local communities purchase public access and recreation spaces




      Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller