This is how crony capitalism works (courtesy of my friend Randy Archer): Speaker of the House Nancy Pelosis home district includes San Francisco. Star-Kist Tunas headquarters are in San Francisco, Pelosis home district. Star-Kist is owned by Del Monte Foods and is a major contributor to Pelosi. Star-Kist is the major employer in American Samoa employing 75% of the Samoan workforce. Paul Pelosi, Nancys husband, owns $17 million dollars of Star-Kist stock. In January, 2007 when the minimum wage was increased from $5.15 to $7.25, Pelosi had American Samoa exempted from the increase so Del Monte would not have to pay the higher wage. This would make Del Monte products less expensive than their competitions. Last week when the huge bailout bill was passed, Pelosi added an earmark to the final bill adding $33 million dollars for an economic development credit in American Samoa.
Posted on: Tue, 19 Nov 2013 23:34:59 +0000
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