Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (27935)	7/13/2005 12:29:48 PM
From: Skywatcher	Read Replies (1) \| Respond to of 361152

Texas Judge Won't Drop Charges Against DeLay Fundraiser By Scott Gold, Times Staff Writer HOUSTON — A key figure in the Texas Republican Party and a former director of U.S. House Majority Leader Tom DeLay's fundraising organization should stand trial on felony charges of money laundering, a judge ruled Tuesday. Travis County District Judge Bob Perkins rebuffed a request by John Colyandro, the former director of DeLay's political committee Texans for a Republican Majority, to throw out an indictment charging him with money laundering and accepting illegal campaign contributions. Perkins indicated that he thought a second indicted DeLay associate, GOP political consultant and fundraiser James Ellis, should stand trial. But he said he would make that decision after an August hearing. Colyandro's lawyer, Joe Turner, said in an interview that he would appeal. Ellis' lawyer, J.D. Pauerstein, also denied wrongdoing. Representatives of DeLay, who has not been charged with a crime, did not return phone calls seeking comment. The ruling marks the latest development in an ethics and corruption case that has dogged the GOP's ascent in Texas. Two judges — Perkins and, in May, the judge in a parallel civil lawsuit — have now ruled that a law restricting corporate money in elections is constitutional. The rulings undermine the foundation of the defense; the GOP has argued that its actions in the 2002 election cycle were protected by free-speech provisions. That year, the Republican Party took simultaneous control of both houses of the Texas Legislature and the governor's mansion for the first time in 130 years. At DeLay's urging, conservative leaders used their clout to draw new congressional districts in Texas, which gave the GOP a six-seat swing in last year's elections, firming up the party's control of Congress. Democrats and watchdog groups have alleged wrongdoing ever since, largely because at least 22 legislative candidates received financial assistance from Texans for a Republican Majority, which acknowledges soliciting corporate contributions. Texas law bans corporate contributions to legislative candidates, but Republicans say the law is an unconstitutional limit on free speech. "It criminalizes behavior that is protected by the Constitution," Turner said. The law is also so poorly worded that no one seems to understand it, Turner said. He said the GOP had hired experts to ensure its activities were legal. "Even the experts don't agree," he said. "How could a citizen?" Travis County Dist. Atty. Ronnie Earle, who has brought cases against three DeLay allies in connection with the fundraising, said the law was clear. The law allows political committees to spend corporate money on "administrative expenses," which has historically meant items such as rent and electric bills. Republican leaders have argued that it should also cover such items as direct-mail campaigns and polling, which Earle suggested was improper. "The judge's ruling makes clear what we have been saying all along: The law means what it says," Earle said in an interview. Fred Lewis, director of Austin-based Campaigns for People, which works to reduce the influence of money in government, agreed. "It's good rhetoric, but it ain't good law," he said of the Republicans' argument. "That's why they keep losing." Some observers in Austin believe GOP lawyers have pressed for a decision on constitutionality so they can appeal before Colyandro and Ellis stand trial. Their appeal will probably land at the Texas Court of Criminal Appeals. The court's nine judges are Republicans, and some believe the GOP's claim could get a friendlier reception there. A win could gut the criminal cases before they go to trial. "This is the United States and this is Texas, and judges run for election," Lewis said. "So yes, I'm always worried about politics seeping into decision making. But I think they are going to get tried. That's the way our system works."

To: American Spirit who wrote (27935)	7/13/2005 12:32:15 PM
From: stockman_scott	Read Replies (1) \| Respond to of 361152

Colin Powell to Join Storied Venture Capital Firm By Jonathan Krim Washington Post Staff Writer Wednesday, July 13, 2005 washingtonpost.com After four decades of military and government service, former secretary of state Colin L. Powell is pursuing a new trail of business entrepreneurship. Powell said yesterday that he is joining Kleiner Perkins Caufield & Byers, one of Silicon Valley's most storied venture capital firms, to work with young executives on leadership and help their businesses grow worldwide. Powell, 68, will be a limited partner, remaining in the Washington area but traveling to California or teleconferencing frequently to confer with companies that receive seed funding from the firm. Like other venture capital groups, Kleiner Perkins plays an ongoing role in the management of companies in its stable. In Kleiner Perkins, the retired four-star general and former chairman of the Joint Chiefs of Staff is joining a 33-year-old Silicon Valley institution that has backed some of the biggest names in technology, including Amazon.com Inc., America Online Inc., Sun Microsystems Inc. and Compaq Computer Corp. Powell said he was energized by a recent visit to the Mountain View, Calif., headquarters of search giant Google Inc., in which Kleiner Perkins also invested. "When I walked into the cafeteria area [to give a speech], there were about 1,000 people there," Powell said in an interview. "And I think I increased the average age by about 15 years." Powell said he also spoke with Google founders Sergey Brin and Larry Page, discussing leadership, organization and "scaling up" a global business. "People hunger for this," said John Doerr, one of Kleiner Perkins's senior partners. "They hunger for the kind of leadership, wisdom, confidence and inspiration that Colin Powell brings." Powell has some roots in technology, having served on the board of America Online before its merger with Time Warner Inc. It was in that capacity that he met Doerr, who began pursuing Powell soon after he stepped down as secretary of state. Powell said he was flattered by an array of new career opportunities but chose Kleiner Perkins for the chance to work with young entrepreneurs. Powell said he is particularly interested in health care, search, energy and networking ventures. He recently joined a group of executives as investors and board members of Revolution Health Group, billed as a new kind of consumer health care company founded by former America Online chief executive Steve Case. He added that he wants his work to "have a humanitarian aspect," helping companies bring their technologies to developing countries to help alleviate poverty. Powell said he bought his first personal computer in 1993, after he left the Army. He said the power of computers was especially evident during Operation Desert Storm in 1991, during which global positioning technology played a prominent role. Now, Powell said, he has three computers, multiple fax machines and two cell phones in his home office and is "deeply into" online shopping. Powell said he plans to continue his other business activities. He is active on the lecture circuit and is a partner in one of the groups bidding to purchase the Washington Nationals baseball team. He has no plans, he said, to run for political office.