-Caveat Lector- http://www.mojones.com/coinop_congress/stock_congress/john_danforth.html SEN. JOHN DANFORTH (R-MO) On October 29, 1993, Sen. Danforth purchased between 100,000 and 200,000 dollars worth of stock in Bell Atlantic. This is the day after the Senate started their hearing on the anti-trust implications of the proposed Bell Atlantic/TCI merger. Two weeks earlier (October 15, 1993), the national media ran a number of stories about Congress' growing concerns over the proposed Bell Atlantic/TCI merger. The Washington Post quoted Sen. Metzenbaum as saying he was considering legislation that would block the Bell Atlantic/TCI deal. Metzenbaum said, "They're going to be in a position to drive out other companies in the market and that's bad for consumers." Sen. Danforth, on the other hand, was quoted as saying that telephone companies SHOULD be able to enter the cable television business. On June 14, 1993, Sen. Danforth purchased between 2,000 and 30,000 dollars worth of stock in Raytheon (i.e., Patriot Missiles). On the same day (June 14), the House introduced H.R. 2401: DEFENSE DEPARTMENT AUTHORIZATION ACT FOR FY94 (Became Public Law 103-160). During the period February 18, 1993 thru April 13, 1993, Sen. Danforth purchased between 160,000 and 450,000 dollars worth of stock in Tenneco. Tenneco own Newport News Shipbuilding and Dry Dock Co. which manufactures submarines and nuclear aircraft carriers, overhauls and repairs Naval vessels, refuels nuclear-powered ships, and provides navigation equipment for Naval vessels. During these months, defense contractors were "running-scared" over President Clinton's proposed defense budget cuts. In Congress, defense "hawks" like Danforth were busy with damage control. On the industry side, Tenneco and General Dynamics started a major marketing fight over who would get additional Seawolf Attack Submarine contracts. Between 38 to 44 percent of Sen. Danforth's Tenneco purchases were made from March 26 to April 13, 1993. It was during this period of time that Congress was debating and negotiating the EMERGENCY SUPPLEMENTAL APPROPRIATIONS ACT OF 1993 (Became Public Law 103-24 on April 23, 1993). This bill contained appropriations for the Department of Defense. During the period January 15, 1993 thru August 25, 1993, Sen. Danforth purchased between 37,000 and 205,000 dollars worth of stock in Texaco. During these months, particularly in the beginning of the year, Congress was wrestling with President Clinton's proposed BTU energy tax. Of course, firms like Texaco would be opposed to any such energy tax. On April 2, 1993, Sen. Danforth introduced S. 769: AVIATION FUEL TAX INCREASE PROHIBITION ACT (Referred to Senate Finance, Pending). Interestingly, but not surprising, Texaco manufactures AVIATION FUEL! Between 71 to 89 percent of Sen. Danforth's Texaco purchases were made AFTER he introduced S. 769. During the period January 15, 1993 thru February 2, 1993, Sen. Danforth purchased between 4,000 and 60,000 dollars worth of stock in Philip Morris. Sen. Danforth sold between 30,000 and 100,000 dollars worth of Philip Morris on April 2, 1993. On the same day, Frank Lautenberg (NJ) added himself as a cosponsor to S. 513: TOBACCO CONSUMPTION REDUCTION AND HEALTH IMPROVEMENT ACT (Referred Senate Finance, Pending). This bill sought to impose additional excise taxes on tobacco products. PAC NOTES: Sen. Danforth has received PAC contributions from Tenneco ($7,000); Philip Morris ($1,000); Bell Atlantic ($2,000). Notes: Sen. Danforth was # 4 on the Senate Finance Committee; # 3 on the Senate Intelligence Committee; # 2 on the Senate National Ocean Policy Study Subcommittee. ---------------------------------------------------------------------------- ---- On December 11, 1991, Sen. Danforth purchased between 100,000 and 250,000 dollars worth of stock in Sun Microsystems. According to the Atlanta Journal and Constitution, Sun Microsystems provides battlefield computer technology and semiconductors used in missile and radar systems. Sun also developed the 3-D computer imaging system used by pilots during the Gulf War. One day later, December 12, President Bush signed P.L. 229: a SUPPLEMENTAL APPROPRIATIONS bill...MILITARY PROCUREMENT FOR OPERATION DESERT SHIELD/DESERT STORM. In twenty days, the value of Sen. Danforth's stock appreciated 15 percent. About Us Subscribe MoJo World Archives Search Advertise Site Map Foundation for National Progress | All Rights Reserved | All letters to the editor are for publication and may be edited for length and clarity. http://www.mojones.com/coinop_congress/stock_congress/john_danforth.html ---------------------------------------- Plato: "A government resting on a valuation of property, in which the rich have power and the poor man is deprived of it. 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