August 15, 2013/Press Releases
Mark Boughton, Tom Foley, John McKinney: No Friends to the Middle Class
(Hartford, Connecticut) — Today the Connecticut Democratic Party released the following statement from Chairwoman Nancy DiNardo.
“Despite long records of consistently voting against middle class families, or getting rich off firing middle class workers, the trio of Republican candidates for Governor continues to fall all over themselves to tout their ‘blue collar’ credentials.
“Mark Boughton says he’s ‘blue collar’, but when given the opportunity to support education at a local level, he voted to cut grants that are distributed to municipalities across the state.
“Tom Foley says he ‘appeals to everyone no matter what color their collar is’, but he has a history of collecting hefty management fees from failing companies who lay off large portions of their workforce.
“Finally, Sen. John McKinney says he’s a ‘strong supporter’ of Connecticut’s middle class and ‘in touch with the needs of all the people of Connecticut’. But that didn’t stop him from voting against funding the Small Business Express program that has helped create or retain 10,000 Connecticut jobs held by middle class workers?
“Connecticut voters don’t like being pandered to. If you say you’re ‘blue collar’ and ‘in touch with the middle class’ you need to back that up with a record. That’s not something Mark Boughton, Tom Foley, or John McKinney can do.”
Boughton Called Himself A “Blue Collar” Republican. According to CT News Junkie, “A former Social Studies teacher, Boughton described himself Wednesday as a ‘blue collar’ Republican. ‘I don’t come from means. I come from this building,’ he said pointing to the high school behind him.” [CT News Junkie, 8/14/13]
Boughton Voted To Cut Education Equalization Grants By $7 Million. In May 2000, Boughton voted to cut education equalization grants by $7 million, from $1,395,000,000 to $1,388,000,000. [Vote #314, 5/2/00; Special Act 00-13, Signed 5/5/00]
Hartford Courant: Foley’s NTC Group Earned Millions In Management Fees “Even As Bibb Struggled.” According to the Hartford Courant, ” Foley’s Greenwich-based holding company, the NTC Group, collected management fees from Bibb of $4 million each year from 1992 to 1994, then $3.4 million in 1995, even as Bibb struggled and began losing money in 1994, according to filings with the U.S. Securities and Exchange Commission. He estimates he personally collected about 20 percent of those fees. While Foley has enjoyed success in business overall, his Bibb venture contrasts starkly with the rosy-hued picture of his career painted in his campaign literature.” [Hartford Courant, 5/21/10]
Foley Said He Appeals to Everyone “No Matter What Color Their Collar Is.” According to the Hartford Courant, “Mark surely hasn’t forgotten that he and I came within half a percentage point of winning,” in 2010, Foley said. “You don’t do that without appealing to a broad range of voters from all kinds of different backgrounds.” “I think I appeal to everyone no matter what color their collar is,” he added. [Hartford Courant, 8/15/13]
Foley Sold An Unprofitable Division Of Bibb In 1985, Cutting Payroll By About 1,000. According to Forbes, “Foley was on his way. First priorities: raise money and cut costs. Even before the buyout closed in October 1985, Foley struck a deal to sell Bibb’s unprofitable carpet yarn division for $ 11.5 million; that lopped the payroll by about 1,000. He scrapped management’s plan for a $ 35 million capital expansion program — more savings — and contracted with two mills to supply Bibb with woven goods. He brought in new managers who responded quickly to Foley’s incentive compensation plans. More than $ 7 million in bonuses have been given. As if from a textbook, Bibb worked as Foley said it would. Pre-Foley net earnings were $ 6 million. Last year: $ 11 million.” [Forbes, 9/5/88]
1985-1988: Foley Offered Executives Over $7 Million In Incentives. According to Forbes, “Foley was on his way. First priorities: raise money and cut costs. Even before the buyout closed in October 1985, Foley struck a deal to sell Bibb’s unprofitable carpet yarn division for $ 11.5 million; that lopped the payroll by about 1,000. He scrapped management’s plan for a $ 35 million capital expansion program — more savings — and contracted with two mills to supply Bibb with woven goods. He brought in new managers who responded quickly to Foley’s incentive compensation plans. More than $ 7 million in bonuses have been given. As if from a textbook, Bibb worked as Foley said it would. Pre-Foley net earnings were $ 6 million. Last year: $ 11 million.” [Forbes, 9/5/88]
McKinney Said He Was A “Strong Supporter” Of Connecticut’s Middle Class And “In Touch With The Needs Of All The People Of Connecticut.” According to CT News Junkie, “McKinney, who served two terms in the General Assembly with Boughton, welcomed him to the race. ‘He’s a good guy. I consider him a friend,’ McKinney said. McKinney also chuckled at the notion that he was out-of-touch with the middle class. McKinney, whose father was a Congressman and whose mother is an heir to the Standard Oil fortune, said for the past two years he’s ‘fought against all the bad policies the Democrats and Gov. Malloy have foisted on the state.'” [CT News Junkie, 8/14/13]
McKinney Voted For STEP And Small Business Express. In 2011, McKinney voted for the statutory enactment of Small Business Express and the Subsidized Training and Employment Program (STEP). The vote passed and the bill was signed into law later in October 2011. [Vote #585, 10/26/11; Public Act 11-1, Signed 10/27/11]
McKinney Voted Against Up To $100 Million For Small Business Express For FY 14-15. In June 2013, McKinney voted against using the proceeds from bond sales to fund up to $100 million for Small Business Express for fiscal years 2014 and 2015. [Vote #559, 6/4/13; Public Act 13-239, Signed 7/1/13]