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Ex-security officials rake it in
Key Excerpts from Article on Website of Seattle Times/New York Times
Posted: November 11th, 2006
http://seattletimes.nwsource.com/html/nationworld/2003068930...
Dozens of members of the Bush administration's domestic-security team...are collecting bigger paychecks in different roles: working on behalf of companies that sell security products, many directly to the federal agencies the officials once helped run. At least 90 officials at the Department of Homeland Security or the White House Office of Homeland Security...are executives, consultants or lobbyists for companies that collectively do billions of dollars' worth of domestic-security business. Former Homeland Security Secretary Tom Ridge...stands to profit now that Savi Technology, a maker of radio-frequency-identification equipment that the department pushed while he was secretary, is being bought by Lockheed Martin. He was appointed to the Savi board three months after resigning from the department. Former Homeland Security undersecretary Asa Hutchinson...the biggest potential for profit among Hutchinson's ventures appears to come from his role as an investor in Fortress America Acquisition. Hutchinson, before the [company's] stock was sold publicly, bought 200,000 shares for $25,000. At Friday's trading price the stock was worth more than $1.2 million. More than two-thirds of the department's most senior executives in its first years have moved through the revolving door. Federal law prohibits senior executive-branch officials from lobbying former government colleagues or subordinates for at least a year after leaving public service. But by exploiting loopholes in the law...it is often easy for former officials to do just that.
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