Notes For Monday, November 25, 2002

"Washington Post Reports John Ellis Bush Contributor On The Lam: Port Charlotte denizen Lance K. Poulsen made big bucks in "receivables financing." That is, he bought outstanding hospital bills at a discount, took a fee and then used the incoming cash to pay off bonds his company issued. This Enronesque scheme was very profitable: Poulsen had a $1 million waterfront home, with a three-story waterfall no less, a 58-foot cabin cruiser and a business jet.

The jet, no doubt adorned with a "Jeb!" sticker. was used by John Ellis Bush on the campaign trail. Poulsen also donated $44,000 recently to the Florida Republican Party.

And now, with some 300 million missing from the till, Poulsen, his wife and business partners have disappeared. In Enron style, they have left in their wake - perhaps they made off in the cabin cruiser "a 58-foot Sea Ray 580 named Enterprise, complete with air conditioning, a galley and a master stateroom with a queen-size bed" - employees worried about their next payuchecks and five bankrupt healthcare companies.

How ironinc is this? n the election, McBride was attacked by Bush for a relative handful of layoffs occurring after McBride stepped down as managing partner for his law firm; there was nary a peep from the media. Bush fundraised with Enron executives - McBride said nothing, the media even less.

And, whatever happened to the tempest in the teapot over Bush's use of private planes to campaign?




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