Stories I’d like to see

Super PAC cash, immigration rules, and Businessweek’s revival

By Steven Brill
February 28, 2012

1. The business of super PACs:

With super PACS having altered the dynamics of federal campaigns, it’s time for a look at how they’ve changed the fortunes of political consultants, pollsters and others who feed off of campaign money. With the cash flow this Republican primary season shifting from political organizations run by the candidate to independent — or at least ostensibly independent — entities, giving them much more money than the campaigns themselves, has the talent followed the dollars? Wouldn’t pollsters or ad-makers rather work for an organization with $100 million to spend than one with $10 million? And how do the people who run these super PACs get paid? How do the IRS rules governing the finances of non-profit entities apply to super PACs? Can someone like Karl Rove take a cut of the tens of millions he’s raised and dispensed for America’s Crossroads the way private equity funds take management fees? Who decides how much Rove or other super PAC executives or staffers make? Articles like the one in Sunday’s New York Times have pointed out the overlaps among staffers. So who ferrets out conflicts if, for example, someone running a super PAC steers business to his or her ad agency or consulting or polling firm?

Spotlight on Bain, Obama’s billion, and immigration madness

By Steven Brill
January 3, 2012

1. Bain in the spotlight:

Private equity firms like to be, uh, private. With the exception of mega-firms like Blackstone, Carlyle and KKR, we rarely read about them, and even in those cases the ink is typically confined to the business pages. However, as it become increasingly likely that the founder of Bain Capital is going to be the Republican presidential nominee, a bright spotlight is likely to turn on Bain.