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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (1894)	2/12/2004 7:42:11 PM
From: PROLIFE	Respond to of 81568

Kerry's wife made killing from ‘corporate inversion' .........Now the latest edition of Newsweek has revealed that in 2002 the conversion and sale of up to a million dollars of stock in Ingersoll-Rand made between $100,000 and $200,000 after stock rose in price following the company's move to Bermuda. In an article in this week's edition headlined “The Wedge War”, Newsweek looks into the general election campaign and with it how the Kerry camp is faring. It said of his bid: “And oppo (opposition) types will undoubtedly focus on family financial transactions. One such deal involves the conversion and sale in 2002 of up to a million dollars of stock in Ingersoll-Rand. It was a profitable sale - netting from $100,000 to $200,000 - of a company whose balance sheet was boosted by its decision to move its headquarters offshore to Bermuda. “So what? Well, one of Kerry's best applause lines is his pledge to end tax breaks for what he calls ‘Benedict Arnold' firms that move offshore - to places such as Bermuda. (Kerry spokesman Michael Meehan said the sale was made by professional fund managers for Teresa Heinz's trust and that Kerry wasn't even aware of it. “Senator Kerry is not involved in the management of her assets,” said Meehan.) The trust is part of Kerry's wife, Teresa Heinz Kerry, from the death of her first husband, Sen. John Heinz, a Pennsylvania Republican, who was killed in a plane crash in 1991. The Bermuda inversion issue, as it has come to be known, appears to raise its head every year, and it has taken just a month into 2004 to become an issue in the US presidential election campaign...... theroyalgazette.com