Tuesday, May 22, 2012
I hope he paid down the Tiffany credit line
Because the Newt Gingrich business empire, commonly referred to as Newt, Inc, is sinking into the slough of bankruptcy and we would hate to see them repossess Callista's ice.
When he entered the race for the Republican presidential nomination in May 2011, Newt Gingrich was the prosperous head of a small empire commonly known as Newt Inc, which included both for-profit consultancies and nonprofit foundations."How are the mighty fallen in the midst of the battle!" Mighty big asshole that is.
Altogether, these entwined ventures pulled in more than $110 million over the past decade. Now the vestiges of this empire are mired in debt, as is Gingrich's campaign fund.
A bankruptcy proceeding under way in Atlanta will determine whether the one company still owned by Callista Gingrich, Gingrich Productions, will lose an expected payout that now constitutes the bulk of the Gingriches' net worth.
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