- The Washington Times - Saturday, October 3, 2009


Bloomberg has spent millions on campaign

NEW YORK | New York City Mayor Michael R. Bloomberg has spent $64.8 million of his own money in his bid for a third term and, since midsummer, has been spending campaign cash at a rate of $15,000 per hour.

The popular billionaire incumbent is heavily favored against Democrat William Thompson Jr., who has collected $8 million in donations and public matching funds. He has spent about half of it, or about one-sixteenth of what Mr. Bloomberg has spent.

Mr. Bloomberg, whose fortune is estimated at $17.5 billion by Forbes magazine, does not raise money and is allowed by law to spend as he wishes on his campaign. He must file expense reports, and his latest was released for a Friday deadline set by the city’s Campaign Finance Board.

Since his last report, on July 11, the mayor has spent $28.2 million. That works out to about $15,000 per hour.

Mr. Bloomberg, who founded the financial information company that bears his name, is ranked by Forbes as the richest person in New York City and the eighth-richest American.


Obama picks Corvington for post

President Obama has named a veteran of nonprofit groups to head the Corporation for National and Community Service.

The president said Friday that Patrick Corvington will lead the agency that oversees Senior Corps, AmeriCorps and Learn and Serve America.

Mr. Corvington is a senior associate at the Annie E. Casey Foundation. He previously worked at the nonprofit Innovation Network and the Urban Institute.

Mr. Corvington is a native of Haiti who earned degrees at the University of Maryland and Johns Hopkins University.


Committee to look at NFL head injuries

The chairman of the House Judiciary Committee says he will hold hearings on head injuries among NFL players.

Michigan Democrat John Conyers Jr. made the announcement Friday. It comes following a preliminary study done for the NFL which suggested retired pro football players may have a higher rate than normal of Alzheimer’s disease or other memory problems. The study, which has not been published in a peer-reviewed journal, was done by researchers at the University of Michigan.

The hearings will look at the lasting impact of head injuries, how to limit them, and how to compensate players and their families.

No dates have been set for the hearings.


Exemption sought for Chrysler health plan

The Labor Department is trying to facilitate Chrysler’s move under bankruptcy proceedings to transfer company securities into a new retiree health care trust.

To help the beleaguered automaker carry out its plan, the department is seeking an exemption for Chrysler from provisions of a federal law prohibiting such benefit plans from holding large assets in the form of employer securities. The health care trust would cover 120,000 Chrysler retirees and dependents.

Under the bankruptcy arrangement, the United Auto Workers union is getting a 55 percent stake in the new Chrysler, which will be used to fund its retiree health care obligations.


Sotomayor won’t sell N.Y. apartment

Not even Supreme Court justices are immune from the economy.

Justice Sonia Sotomayor plans to keep her apartment in New York for the time being, even as she gets a place in Washington.

“Right now I - like many other Americans, it would not be wise for me to sell my home in New York because the market is so low,” Justice Sotomayor said in an interview with the C-SPAN network for a documentary on the court.

Justice Sotomayor’s condominium in the Greenwich Village neighborhood of Manhattan was worth about $1 million, according to the financial disclosure she gave the Senate when President Obama nominated her to the court in May. She owed about $380,000 on a mortgage.

It’s hard to say what she could get for the apartment at the moment. While the housing market has shown some improvement recently, Manhattan real estate declined sharply earlier this year as tens of thousands of people lost their jobs in the crisis that shook the financial sector.

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