To: Raymond Duray who wrote (13677 ) 7/16/2002 10:03:59 AM From: Tadsamillionaire Read Replies (1) | Respond to of 93284 Democrats Hosted Firm Under Probe David Espo AP Special Correspondent Monday, July 15, 2002; 5:40 PM WASHINGTON –– At a weekend retreat for favored donors, Democrats played host to a representative of a firm under investigation by the Securities and Exchange Commission, party officials said Monday. By coincidence, the long-planned gathering occurred during a weekend break in Senate debate on legislation cracking down on corporate wrongdoing. The official of Bristol-Myers Squibb Co. was one of roughly 200 donors at the Democratic Senatorial Campaign Committee weekend event on Nantucket Island off the Massachusetts coast, according to party spokeswoman Tovah Ravitz-Meehan. "At this point there is no indication as to the credibility or seriousness of any allegations against Bristol-Myers," said Jim Jordan, executive director of the Democratic Senatorial Campaign Committee. "It simply would have been unfair to disinvite a donor to this committee based on information we had at hand on Thursday." But Ginny Wolfe, spokeswoman for the GOP senatorial committee, said, "Someone should remind the Democrats there's still no magic pill to cure hypocrisy. But I suspect that if there were they all would be taking a mighty big dose today." The firm had no immediate comment. Bristol-Myers Squibb has donated slightly over $100,000 to the Democratic Senatorial Campaign Committee in the current two-year election cycle – a fraction of the $360,000 donated to the GOP committee. The company disclosed last week that the SEC was investigating whether it inflated revenues last year by $1 billion, and said it was cooperating with the inquiry. The company disclosed the investigation on Thursday, a day before senators and the donors journeyed to New England for a weekend with Majority Leader Tom Daschle of South Dakota, Sen. Patty Murray of Washington, who chairs the senatorial committee, and several other senators. Seven Senate hopefuls also attended, including one, Erskine Bowles in North Carolina, who faces a fight for his party's nomination. The Democratic weekend meeting came as both political parties maneuvered for political advantage in a recent spate of business scandals affecting Enron, WorldCom and other firms. President Bush last week went to Wall Street to call for higher standards of ethics among corporate executives, as well as stronger government measures to police wrongdoing. Democrats immediately proposed stronger penalties. They also sought to use Bush's past business practices, as well as Vice President Dick Cheney's stewardship of a corporation, to question the administration's credibility. Ravitz-Meehan, a Democratic spokeswoman, said the weekend was an annual retreat for senators and donors who give at least $20,000 a year in unlimited "soft money" donations to the committee. She said guests are not required to make a contribution as a condition of attendance, as is the case at routine fund-raisers. Republicans have scheduled a similar meeting for some of their donors this weekend at the Greenbrier Resort in West Virginia. Wolfe said she did not know which donors would attend.washingtonpost.com