Gingrich’s Private Ventures Are Going Bankrupt

Posted by on May 22, 2012 in 2012 Campaign | No Comments

Oh you got to love fiscal conservatism as practiced by Republicans:

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.

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.

Oh and his campaign has bounced checks and is about $10M in debt. Why anybody listens to these folks is beyond me.

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