WSJ: Corporate Contributions Shift to the Left

The Wall Street Journal

Corporate Contributions Shift to the Left

Some Companies See Democrats Having More Sway in Washington After Upcoming Elections
By BRODY MULLINS
June 19, 2006; Page A4

WASHINGTON -- Some big companies are boosting their share of campaign contributions to Democrats this year, a sign that executives may be starting to hedge their political bets after a decade of supporting congressional Republicans.

The shift includes backers of the Republican Party in the insurance, pharmaceuticals and tobacco industries, such as American International Group Inc., Wyeth, and Reynolds American Inc., according to PoliticalMoneyLine, a nonpartisan tracker of campaign contributions. Most companies say they give political donations to candidates who support their businesses, regardless of party affiliation. But corporations also tend to channel funds to politicians they think will hold power. So any shift in corporate campaign giving toward Democrats could signal that businesses believe Democrats will have more sway in Washington after the 2006 midterm elections or the 2008 presidential contest.

(snip)

The change among some companies and trade groups is helping Democrats gain a more even footing with Republicans in the race for cash. The Democratic Senatorial Campaign Committee has, so far in this election cycle, raised more than its Republican counterpart for the first time since Democrats lost control of Congress in the 1994 election. In the House, Republicans have raised more money than the Democratic campaign arm, but the gap is narrower than in previous campaigns. "Democrats are realizing the importance of working closely with business leaders," says Sen. Charles Schumer of New York, the top fund-raiser for Senate Democrats.

(snip)

At least part of the Democrats' new gains can be attributed to the decline of former House Majority Leader Tom DeLay of Texas and a Justice Department investigation into Republican lobbyists. At the height of his power, Mr. DeLay pressured corporations to hire Republican lobbyists and increase their political donations to Republicans. "The grip of fear has been broken," said Paul Equale, a Democratic consultant. "Companies understand that the government is run by Republicans, but the kind of draconian arm-twisting that you've had for the last five years is gone now," he said.


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I'm glad to see the money coming our way (and away from the Republicans), but I don't want us beholden to these companies.

Many so called "Democrats" already are- hat's why the party lost its relevancy in national politics and policy making. And why they've lost 6 straight Congressional elections.

Money people follow their noses for wealth creation, and don't give a rip about political parties except for the power - if the corporations are backing democrats, it's because they've done a shitload of research and are pretty damn sure that the repubs are done and the dems are coming in power.

And the money from the corporations will help boost the dems chances as well.

This is good news!

It's just amazing that it's taken most of my adult life for the "persons' known as corporations to figure that out.

Still, the Democrats have to get elected. Unless they focus on bread and butter economics, that is simply not going to happen.

The GOP has noticed that WAGES will be the real wedge issue. They have a near 50% rise on the table. It won't pass, but it does mean that even they have noticed their own Achilles heel.

Any Democrat who doesn't campaign like one will lose and deserve it.

So they figure Democrats are the best bet for that goal.. What does that say about the Democratic Party?

that the republicans constantly fuck up the economy, and that they made more money under Clinton, and that they think the only real economic hope for them and for the country is a democratic administration.

that the Corporations "think the only real economic hope for them and for the country is a democratic administration."

...what're you smoking? The Corporations always divvy up a little of the contributions to hedge their bet, that's all, and anyway, since the Mainstream Media is owned by Corporations, they get most of that 'contribution' money back, anyway through the billion$ of adverti$ing profit$.

The Corp's feed politico's generously in the hogtrough at campaign time simply so they can milk them for million$ more of our tax dollar$ after elections.

..and they always hedge their bets. That's 'business'.

It might also mean that democrats are more willing to whore themselves out for corporate interests than they've been willing to do in the past.

Or it might mean that corporations are, as you say, merely hedging their bets, since the whole situations looks so 50-50 as to who can win it in November.

It could mean a great many things, and more than likely, it's a good mix of all possibilities. But in the end, I think it points at least to the idea that the corporations might be seeing the writing on the wall for a democratic victory, and are joining that bandwagon.

"Democrats are realizing the importance of working closely with business leaders,"

The government and corporations working closely together. Thank God the fascist movement got rid of the guys who yell and scream. Today we have nice, civilized, quiet men in expensive suits, who hold pens and not guns.

"The shift includes backers of the Republican Party in the insurance, pharmaceuticals and tobacco industries"

Hahahahahahahahahaha.

What's worth saving?

Starting NOW.

Our work doesn't END with getting saner politicans elected... that's where it BEGINS.

(I love CAPS! :P)

you have to make sure both political parties are in your back pocket.

they are covering themselves.

they will work to shift things back to the right.

take no comfort from this.

if they were CERTAIN that dems were sooo good for them -- they wouldn't have backed bushco in 00 and 04.

Make 'em pay their way!

I doubt they'll give out real money unless they expect to get a lot of value in return.

However, how certain are we the money is clean? I am a bit indifferent to corporate money when it comes around.