Last we heard in October, the Department of Justice had prepared a flurry of subpoenas to delve into the handling of campaign finances in John Edwards’ presidential run, with a specific eye towards the use of some funds to keep the Rielle Hunter scandal under wraps. Today, the Associated Press reports that the grand jury has targeted Edwards in its probe, and not just Edwards. Subpoenas have been issued for Alliance For a New America (AFNA) and linked organizations, where millions of dollars got spent with no public accounting:

A federal criminal investigation targeting John Edwards is examining how much the two-time presidential candidate knew about money used to cover up his extramarital affair and out-of-wedlock child and whether he had other practices that pushed the bounds of campaign finance laws, people involved in the case have told The Associated Press.

A federal grand jury meeting in Raleigh, N.C., is combing through records and testimony involving several political organizations and individuals connected to Edwards and trying to determine if the former North Carolina senator and 2004 vice presidential nominee broke any laws. A recently issued subpoena focuses on a web of these political groups allied with Edwards, according to subpoena details provided to AP that offer a glimpse into the investigation being conducted behind closed doors.

The situation gets murky indeed when looking at AFNA:

Atop the subpoena list, read to the AP by someone with access to a subpoena, is the Alliance for a New America, which is what is known as a political 527 group, named for the tax code section that governs it. Also on the list is a like-named private entity called Alliance for a New America LLC, or AFNA LLC, and Edwards’ former campaign manager Nick Baldick, who ran the political 527 group in support of Edwards’ bid for the 2008 Democratic presidential nomination. (IRS records for the same groups refer to the groups as Alliance for New America, without an “a.”)

Baldick and his attorney Jim Lamb would not comment on the federal investigation, but Lamb said Baldick has been told he is not a target of it.

Federal records show that about $3.3 million of the $4.8 million raised by the 527 was distributed to AFNA LLC for unspecified “consulting services.” The 527 and the LLC shared not only their name, but the same Alexandria, Va., post office box and the same contact, a Baldick associate named Katherine Buchanan. A crucial difference between the two Alliance entities was that the LLC was a limited liability company that did not have to publicly disclose how its money was spent.

The question will be whether that distinction was legal on its face, or whether it was used as a dodge to funnel money illegally to Edwards for his own personal use. If the grand jury can connect the expenditures on “consultants” to those who tried keeping the lid on Edwards’ relationship with Hunter, the legality of the edifice may be a moot point anyway. Presumably, the grand jury and the investigators are looking for someone on the inside to testify to how the money got spent. If they do and the money got directed to hide Hunter and keep her quiet, then everyone involved may face conspiracy charges.

AFNA isn’t the only entity under scrutiny, either. The One American Committee paid Hunter over $100,000 for campaign Internet videos that never got published. They also want to see how massive contributions from Fred Baron and Bunny Mellon were distributed, the latter of which got hidden in boxes of chocolates according to former aide Andrew Young’s book with the express purpose of keeping Hunter quiet. Baron claimed to have supported Hunter financially without Edwards’ knowledge, but Young’s book says that Edwards agreed to hit up Mellon for hush money, which the grand jury seems to think may be an interesting avenue of inquiry.

None of this means anything until the grand jury produces indictments, of course — but becoming a target of a grand jury is the one way that happens.

Armstrong’s Internal Memo To AOLers About The HuffPo Deal

AOLers,

We are taking another major step in the comeback of AOL. Today we are announcing that we have agreed to acquire The Huffington Post, one of the most exciting, influential, and fastest growing properties on the Internet. We believe in brands, quality journalism, and the positive role of communities in the world—The Huffington Post shares our values and the combination of the two companies will create the premier global and local media company on the Internet.

Co-founded six years ago by Arianna Huffington and Ken Lerer, The Huffington Post has grown to become an industry leader—one of the Web’s most popular and innovative sources of online news, commentary, and information. Arianna and team have created a brand and a destination that focuses on the consumer experience. By combining The Huffington Post with AOL’s network of sites, thriving video offerings, local expertise and enormous reach, we will create a company that is laser-focused on serving our audiences across every platform imaginable – social, local, video, mobile and tablet.

The Huffington Post is core to our strategy and our 80:80:80 focus – 80% of domestic spending is done by women, 80% of commerce happens locally and 80% of considered purchases are driven by influencers. The influencer part of the strategy is important and will be potent.

The Huffington Post is a strong influencer brand and it attracts a valuable audience, including a great focus on women’s content. In addition, Arianna Huffington is a world-renowned expert on women’s topics and issues, and has enabled The Huffington Post to grow rapidly by continually developing new audiences.

In the local area, the combination of the two companies will create a scaled connection between global and local communities on one platform. This will create a new way for people to get local and global information in a timely and entertaining way.

The Huffington Post will join the family of AOL Brands that are destinations for an influencer audience, brands like TechCrunch, Engadget, AutoBlog, and Moviefone. Uniquely, The Huffington Post is the platform for influential people — the people that drive trends, commerce, politics, entertainment, news, and information. Adding this strategic platform to our already strong network of sites, including the AOL homepage, has the potential to make AOL the most influential company in the content space.

Arianna Huffington is one of the most successful entrepreneurs in the Internet space and someone that is even more successful in building communities and relationships in every corner of the globe. The Huffington Post and Arianna have created a company that has partnered with the most successful and well-known leaders in all aspects of society that touch important topics to give consumers direct access tothe most influential decision makers and community leaders.

This acquisition will create a high-quality and diverse digital ecosystem encompassing local, national and international news, politics, entertainment, technology, fashion, sports, health, personal finance, green, lifestyle, the arts and more. This deal will combine the amazing talent at AOL with the innovative and talented staff of The Huffington Post. Here are just a few high-level points around what this deal brings to market:

Together, AOL and The Huffington Post will have 117MM unduplicated domestic monthly UVs, and ~270MM monthly UVs worldwide (according to comScore Dec 2010).

The Huffington Post is one of the fastest growing web properties on the Internet. It grew 22% last year – that’s faster than Twitter, which grew 18% – and 15x as quickly as the Internet grew last year (comScore Dec ’09-’10).

Both AOL and The Huffington Post count powerful, affluent users among their top loyal visitors, significantly over-indexing in $100K+ income users.

AOL passed Hulu in unique viewers on video in the fourth quarter of 2010; video views on AOL are up 400 percent year-over-year.

Between AOL’s innovative Project Devil ad unit, engaging users for 27 seconds longer than traditional display ads, and The Huffington Post’s highly-vocal community, with 4MM+ comments per month, we will marry attention-grabbing content and brand experiences for both advertisers and consumers.

In the local area, the combination of the two companies will create a premier global/local syndication network at scale. This will create a new way for people to get local and global information in a timely, informative and entertaining way.

To maximize the strategic advantage of this great deal, we will be creating a new group at AOL called The Huffington Post Media Group. Within this group will be AOL Media, AOL Local & Mapping, AOL Search and our new friends at The Huffington Post. We will continue operating the towns structure, AOL.com and HuffingtonPost.com.

I’m thrilled to announce that Arianna Huffington will join AOL’s executive team as President and Editor in Chief of The Huffington Post Media Group. We have asked Jon Brod to lead the overall operational integration on the AOL side of the combined entities. Jon will lead the local group integration and work closely with David Eun and the teams in AOL Media. We will work quickly with The Huffington Post tocreate a combined organizational design to coincide with the deal closing. While we wait for the required regulatory reviews to be completed and the transaction to close before implementing the design, we will move very quickly to plan the details of the integration of the two companies. To this end, we will announce the new organizational structure as soon as possible.

In the meantime, we will continue creating great content and products for our consumers within the town structure and stay laser-focused on the aggressive goals we have set for our winter luge. We are on the right track and will continue our weekly operating cadence and town structure to drive successful results against our company goals.

Here’s a special message for all of you we taped to welcome The Huffington Post and Arianna to our AOL Family:

http://today.office.aol.com/company-news/2011/02/aol-agrees-buy-huffington-post

And of course we wanted to welcome Arianna to our “You’ve Got” video of the day—check her out on AOL.com.

We will be holding a company all hands meeting to address your questions related to today’s exciting news. We will video conference from our New York office on the 6th Floor at 9:30 AM ET and will bejoined by Arianna Huffington and key executives from her organization. We will also be holding a call for our west coast offices at 2:00 PM ET and for our Patch offices at 2:45 PM ET. See below for meeting info (conference rooms will be sent out shortly).

AOL is playing to win…and The Huffington Post and AOL will occupy a unique place in the future of the Internet. Let’s go get it done.

–TA

bench craft company sales

About Me 0066

Thursday, February 17, 2011

personal finance blog

Armstrong’s Internal Memo To AOLers About The HuffPo Deal

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

Arrowheadlines: Chiefs <b>News</b> 2/17 - Arrowhead Pride

How To Use Facebook's <b>News</b> Feed Filters

Obama to Friend Zuckerberg in San Fran - FoxNews.com

No comments:

Post a Comment