With Half of Ron Johnson’s 153 Stocks Foreign, What’s Good For
Egypt, China and Bahrain is Good for Ron Johnson
MADISON – Millionaire Senate Candidate Ron Johnson, who has become one of the latest Republicans to benefit from the attack ads aired by the U.S. Chamber of Commerce, is heavily invested in companies — foreign and domestic — that pay dues to support the Chamber’s negative attack campaigns through foreign business councils, a review of Johnson’s stock holdings shows.
Johnson has bet significantly on foreign investments, with 79 of his 153 stocks classified as foreign. According to Think Progress, “the Chamber funds its political attack campaign out of its general account.” Here’s how the Chamber raises foreign money to fund its attack campaign, the largest of any organization this year:
A review of Ron Johnson’s personal disclosure form indicates that Johnson owns between $750,000 and $1.96 million of stock in companies that pay at least $372,500 in dues to the U.S. Chamber through foreign business councils.
Companies Johnson invests in that pay dues to the Chamber’s foreign business councils include Sanofi Aventis, which pays at least $7,500 annually to the Chamber’s U.S.-India Business Council, Occidental Petroleum, which pays at least $10,000 annually to the U.S.-Bahrain Business Council, JP Morgan Chase, which pays at least $10,000 annually to to U.S.-Korea Business Council, Alcoa which pays at least $2,500 annually to the U.S.-Bahrain Business Council and Tyco Electronics, which pays at least $15,000 to the U.S.-India Business Council.
Media reports also indicate the Chamber shares Ron Johnson’s support for shipping American jobs overseas.
The Chamber has also bitterly fought Democrats for opposing unfettered free trade deals.[Think Progress 10/5/10]
Johnson has previously supported unfair trade deals claiming:
But unfair trade deals have cost Wisconsin companies at least 64,000 jobs. [“Department of Labor Certified Trade-Related Job Loss,” Public Citizen, http://www.citizen.org/Page.aspx?pid=2543, accessed 9/22/2010]
Johnson has also suggested that China is better for business than the U.S. Here’s what he said:
The Wisconsin State Journal, which discovered the clip, reported that, “The host sounded a bit baffled by his response.” According to the State Journal, the host said: