MYDD: Spitzer May Face Primary Challenge (GOP fundraiser wants Suozzi!!))

[Ignacio Upton]

We have to expose Langone, and make Suozzi stay out of the race!
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http://www.mydd.com /

Spitzer May Face a Primary Challenge
by Scott Shields

Why, why, why, why, oh why?

Newsweek is reporting that Ken Langone, billionaire and former New York Stock Exchange compensation committee chairman, is out to destroy New York Attorney General and 2006 gubernatorial candidate Eliot Spitzer. In that position, Langone approved an unheard-of $140 million pay package for NYSE chairman Dick Grasso. Langone and the rest of the compensation committee were a hand-picked crew of Grasso's cronies and apparently misled the full NYSE board about the details of his compensation. When it came out, Grasso was asked to leave and then sued by the NYSE for repayment.

Arguing that Grasso's compensation was illegal under New York state law, which dictates that executives of non-profits (like the NYSE) receive only "reasonable" pay, which is "commensurate with services performed," Spitzer sued to have Grasso's pay package overturned and replaced with something less extravagant. Also named in the suit was Ken Langone. Though Grasso and Langone claims these charges were baseless, Frank Ashen, the NYSE's head of HR, admitted that he misled the board in regards to Grasso's compensation and made a $1.3 million payment to the NYSE.

<<Since then, Langone and Grasso have repeatedly attacked Spitzer, mostly in the press, and mostly in the arch-conservative Wall Street Journal op-ed pages. Now it seems they're planning on taking their vendetta one step further. Langone is working to get Nassau County Executive Tom Suozzi to challenge Eliot Spitzer in the New York gubernatorial primary next year.>>

<<The other troubling factor here is that Langone is a hardcore Republican financier. Like all good executives (he's a co-founder of Home Depot), Langone gives to a few top Democrats as well. But he's given about ten times more money to Republicans than Democrats.>>

<<Looking at Langone's giving patterns, something jumps out at me. He donated $2,000 to William Weld's 1996 campaign for Senate. These days, Weld and Langone still run in the same Wall Street social circles. And it's quite possible that Bill Weld will be the GOP candidate for Governor facing Eliot Spitzer next year. A well-funded, bruising Democratic primary might even the 2006 playing field for Weld.

This wouldn't be the first time Ken Langone has used some bizarre tactics to attack a political opponent. In 1999, while Langone was on the board of Tricon Foods, Pizza Hut ran television spots in New York that mocked then-likely Senate candidate Hillary Clinton. Tricon is Pizza Hut's parent company. Langone was a former finance chairman for and major financial backer of Rudy Giuliani -- then expected to be Clinton's opponent. Democrats cried foul, calling the commercial an illegal contribution.

Here's hoping Tom Suozzi doesn't let himself get played by Ken Langone's dirty tricks.>>

[Rowdyboy]

1. So some billionaire with a grudge says he's going to take down Spitzer

Yeah. Uh huh. This prick can't lay a hand on Elliot Spitzer, even with 20 million dollars worth of illegal contributions.

Elliot Spitzer will be the next governor of New York, whether Republicans like it or not....

[Ignacio Upton]

2. Watch for the Club for Growth to sink millions into this race

They will support Weld or Golisano with even more money than they will with Jeanine Pirro or Ed Cox against Clinton. Spitzer could be the next FDR.

[THUNDER HANDS]

3. Suozzi won't take the bait

He's an outsider, yes, but he has aspirations of bigger things in his future. He's young (early-mid 40s) and he knows that he can run for governor in 4, 8 or even 12 years if he wants to. Hell, the guy became the first Democratic Nassau County executive in nearly 100 years and turned around the financial mess that Tom Gulotta left. He could be the king of Long Island if he stays here for a while and he knows it.

If Spitzer wins the governorship, and he will, he'll probably stay in it for two terms and then run for president. Suozzi can more than bide his time in those years.

Suozzi is a rising Dem star on the local level in NY. He'll probably end up governor one day, but today is Spitzer's day and Suozzi knows this.

[Ignacio Upton]

4. Maybe Spitzer could make him Lt. Gov?

They can run on a Reform ticket.

[Historic NY]

5. I don't see it happening Spitzer's got the name & image

he is known statewide. Suozzi who?