Politicians Who Own Stakes in Airport Scanner Companies

We still can’t connect the dots to say that, because these Congressmen invested in these tech companies, than, ipso facto, those scanners were then put in place at airports across the country, now the subject of controversy.

But the Center for Responsive Politics says it’s done the legwork and after reviewing the most recent personal financial disclosure filings, found eight members of Congress — three Democrats and five Republicans – who owned at least $2,000 worth of stock in L-3 Communications, which is a government contractor purportedly involved in the full-body scanning machines.

The watchdog group says Sen. John Kerry (D-Mass.) owns the most stock in L-3 Communications — with a minimum investment of at least $500,000 and a maximum value of $1 million. Congressional financial disclosure forms allow Congressmen to report their assets in broad ranges.

However, that L-3 Communications stock is owned by his wife, Teresa Heinz, the Center says.

It also says that Republican Reps. Michael Castle (R-Del.) and Michael McCaul (R-Texas) “both disclosed possessing between $16,002 and $65,000 worth of L-3 Communications stock in 2009.”

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10 Most Overpriced Products You Should Avoid Actor Will Ferrell Loses $18M Case to JPMorgan Ten Worst Places to Live Lots to Complain About, But More to Be Grateful For Woman Sells Obama’s ‘Things Will Get Better’ Letter to Pay for House: New York Post And the Center says Rep. Judy Biggert (R-Ill.) is listed as having the next most valuable holdings in L-3 Communications, worth between $15,001 and $50,000.Full-body scanners have been slowly adopted in airports across the country over the last several years, but that pace picked up after the “underwear bomber” was caught last Christmas.

Earlier this year, L-3 Communications received a $165 million contract for the machines. RapiScan, was also awarded a $173 million contract, the center says.

Both companies have experienced increases in their federal lobbying expenses versus a few years ago, the Center says.

OpenSecrets says RapiScan has hired Michael Chertoff, former secretary of Homeland Security under Republican President George W. Bush. It also says former Republican Sen. Alfonse D’Amato (R-N.Y.) and Linda Daschle, the wife of former Senate Majority Leader Tom Daschle (D-S.D.), also lobby for L-3.

Source: http://www.foxbusiness.com/markets/2010/11/24/politicians-stakes-airport-scanner-companies/

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