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Vulture Capitalism Gets a Makeover

"Vulture" CapitalistThe candidacy of Mitt Romney for President of the United States has drawn scrutiny to the practices of the "private equity" industry. Tired of being bashed as greedy "vulture capitalists," the industry has launched an effort to polish its image.

The Private Equity Growth Capital Council (PEGCC), a trade group representing many of the most powerful firms in the venture capital and private equity industry, recently announced its intention to begin a new media initiative called "Private Equity At Work" to correct what it views as "a real lack of understanding about private equity."

Obama Visits WI and Flies the Union Flag, Er, Not Exactly

President Obama visited Wisconsin today to speak at Master Lock, a union firm that that has brought 100 manufacturing jobs back from China to the United States. Because it was the President's first visit to the state since the historic fight over collective bargaining broke out over one year ago, everyone was watching to see if he would address the controversy or signal his support. Some saw signals where none were intended.

Students and Teachers Rally on Anniversary of Wisconsin Uprising

A student holding and "I still *heart* UW sign in front of the State Capitol.With two rallies on Valentine's Day, students and teachers commemorated the first anniversary of Wisconsin's historic struggle against Governor Scott Walker's attack on the state's 50-year tradition of peaceful collective bargaining.

Walker introduced his proposal to end collective bargaining for most state workers on Feb. 11, 2011. On Feb. 14, 2011 the Teacher's Assistants Association, the graduate student union at UW-Madison, organized a march from the University of Wisconsin-Madison campus to the Wisconsin State Capitol to deliver thousands of Valentine's to Walker to protest the measure and planned cuts to the UW system.

Will Walker's Love Affair with Realtors Come Back to Haunt Him?

Scott Walker and his new team of criminal defense lawyers will be meeting with the Milwaukee County District Attorney soon to answer questions in a multifaceted "John Doe" probe being conducted by the DA into potentially illegal activities of Walker's staff during the time he served as Milwaukee County Executive. Because everyone involved in the investigation is subject to a gag order, the scandal has the state guessing about the next shoe to drop.

One of them may shine a light on Walker's long-time love affair with big money realtors.

Senator Grothman Tries to Mask WI Campaign Contributors

Photo via ShutterstockA bill moving through the Wisconsin Legislature would make it more difficult to track and accurately tabulate campaign donations from businesses and industries in state elections. Critics say it could also hinder investigations of illegal campaign fundraising like the one that resulted in the conviction of a Wisconsin railroad executive last year and others that could be part of the current "John Doe" investigation into Governor Scott Walker's staff.

As Governor Walker sets a pace to collect more campaign money, from more corners of the country, than any candidate in Wisconsin history, State Senator Glenn Grothman (R-West Bend) is sponsoring Senate Bill 292 to no longer require that individuals donating to political campaigns disclose their employer. Current law requires that all donations of $100 or more include the donor's occupation and employer so that organized streams of special interest money to candidates can be identified and made transparent.

WI GOP Lawmakers Sign Secrecy Pledge

Governor Scott Walker signed Wisconsin's newest redistricting maps into law on August 9, 2011. The maps had drawn criticism when they were released to the public one month before, on July 8. Democrats in the legislature criticized Republicans for not allowing them input and many observers poked fun at the contorted districts that gave Republicans an edge. Redistricting is largely a partisan process, and the party in charge works hard to draw maps that favor their members. A short five days after the maps were released, the legislature held the first and only public hearing on them.

"ALEC Accountability Act" Introduced in Wisconsin

A Wisconsin state legislator is filing a bill that would require greater transparency regarding the activities of the American Legislative Exchange Council (ALEC) in the state.

PocanRep. Mark Pocan (D-Madison) has been circulating the "ALEC Accountability Act," a bill that would require ALEC to register with the state as a lobbyist and report the funding sources for the "scholarships" funding legislators' travel. Pocan refers to ALEC as a "dating service" for right-wing politicians and corporations who exercise undue influence over state law by crafting "model" legislation behind closed doors.

New Definition for Lobbying

Pocan believes that while ALEC is doing the work of a lobbyist, it is not complying with the reporting and registration requirements asked of all lobbyists. The bill would redefine "lobbying" to include contact with any member, employee, or agent of a body that "proposes uniform, model, suggested, or recommended legislation."

Americans for Prosperity, a Nonprofit, Campaigning for Walker?

The Koch-founded Americans for Prosperity Foundation (AFP), a 501(c)(3) nonprofit "charity" prohibited from intervening in political campaigns, is spending $700,000 on ads and holding events around Wisconsin that look like appeals to re-elect Wisconsin Governor Scott Walker, who is facing a recall election. The campaigning comes as secretly-funded nonprofits are playing an increasingly important role in elections nationally.

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