Tag: Donald Trump

Irony alert: Taco Bell franchisee PAC among few to give maximum campaign donation to Trump

TACO PAC, the political action committee of the fast-Mexican chain’s franchisees, is one of only five PACs to max out their contributions to GOP White House nominee Donald Trump,  with $5,000 — the most allowed under Federal Election Commission regulations.

Taco Pac logoDespite its bipartisan-looking logo, the Yum unit franchisees’ PAC has been leaning very right for the past eight years, according to Food & Wine magazine.

“In 2008,” it says, “TACO PAC donated a total of $24,500 to political candidates — $20,000 to Republicans, $4,500 to Democrats. In 2010, in an off-year election no less, it donated a total of $299,250 to candidates — $293,250 to Republicans, $6,000 to Democrats.”

So far this year, TACO PAC has donated $53,625 to Republicans and $3,500 to Democrats, according to the magazine.

Foodie site Grub Street notes the irony in the Pac’s $5,000 donation to the New York billionaire, “because Taco Bell’s mantra involves making a run for a border that Trump would at least attempt to wall off.”

Strange bedfellows: A dainty KFC-eating Trump draws comparisons to Dukakis’ infamous tank photo

That’s just one of the better overnight Twitter reactions to Donald Trump‘s Tweeted photo last night of himself eating a KFC meal with silverware aboard his jet. Perez Hilton posted a nice roundup of the rest.

Here’s Trump and Democrat Michael Dukakis of Massachusetts, whose failed 1988 White House campaign took a public relations hit after his staged outing in a tank failed to counter Republican charges he was weak on national defense:

Trump and Dukakis
Trump and Dukakis: in the bucket vs. in the tank.

UnitedHealthcare protests $40.5B Humana contract; Roadhouse dives 12% on Q2 report; Trump eats KFC with metal utensils — Internet howls; and Taco Bell workers in Calif. gone after cop-taunting report

A news summary focused on 10 big employers; updated 5:09 p.m.

HUMANA: UnitedHealthcare has filed a formal protest against a Defense Department decision to award the next round of Tricare contracts to Humana and another competitor. The Pentagon selected Humana Government Business to manage the brand new East region, a consolidation of the North and South regions, in a contract worth as much as $40.5 billion. Health Net Federal Services got the West region contract. Humana manages the current South region and Health Net the North (Military Times).

Humana and Aetna logos 250Also, Humana and Aetna announced this morning a deal to sell some of their Medicare Advantage assets to Molina Healthcare for $117 million in cash, in the health insurers’ latest effort to win Justice Department approval for their proposed $37 billion merger. The transactions are subject to the successful completion of the merger, plus approvals from regulators. Under the deal, Molina would get about 290,000 Medicare Advantage members in 21 states, the two companies said, “preserving robust competition for seniors choosing to receive Medicare coverage through Medicare Advantage plans and addressing a key concern of the U.S. Department of Justice in its challenge to the Aetna-Humana transaction” (press release). Today’s announcement followed a July 21 DOJ lawsuit against the two companies to block their tie-up over fears it would be anticompetitive and raise consumer prices.

Aetna, meanwhile, reported better-than-expected second-quarter results this morning, in a report where it also became the last of the five major national health insurers to project a loss on Affordable Care Act plans for 2016. The Hartford-based insurer said it would re-evaluate its participation in the business and cancel a planned expansion. It also said it was setting up a $65 million reserve to account for expected losses on individual plans over the rest of this year (Wall Street Journal).

Kent Taylor
Taylor

TEXAS ROADHOUSE shares fell sharply, closing at $41.80, down 12.4%, or $5.90, after the Louisville-based steakhouse chain reported disappointing second-quarter results yesterday after stock markets had already closed (Google Finance). Founder and CEO Kent Taylor discussed the results with Wall Street analysts in a transcript (Seeking Alpha). The chain has nearly 500 company-owned and franchised restaurants in 49 states plus five foreign countries with 48,000 employees. About 500 of those workers are in Louisville; more about Texas Roadhouse.

FORD said total truck sales, including pickups and vans, grew 5% in July versus a year ago with 87,104 sold. Overall company U.S. sales were down 3%, with 216,479 total vehicles sold (press release). Shares closed at $11.94, down 4.3%, or 53 cents (Google Finance). Ford’s Kentucky Truck Factory employs about 5,100 workers, producing F-250 and F-550 Super Duty pickups, plus Expeditions, and Lincoln Navigators.

KFC: The World Wide Web is chowing down on a photo of GOP White House nominee Donald Trump eating a KFC meal last night aboard his gold-plated private jet, using real cutlery (as opposed to the plastic utensils most everyone else uses or, let’s be clear, hands). Trump tweeted a photo of the moment near 10:30 p.m.; see Tweet, above. “It’s tiny finger lickin’ good,” wrote the New York Daily News, which then went on to quote one Twitter user saying: “Eating KFC with a fork and knife is like eating a candy bar with chopsticks.”

Britain’s Telegraph was even more over-the-top pretend aghast: “What kind of madman — what kind of abominable lizard in an orange human skin suit, a Sunny Delight scare story incarnate — would eat a biscuit with a knife and fork? The same madman who was last night pictured eating a bucket of KFC with a knife and fork, that’s who.” And then there was the whole KFC vs. Popeyes vs. Bojangles’ contretemps (Daily NewsTelegraph and Daily Caller). Here’s yet more news coverage — plus, all the Twitter reaction.

TACO BELL: In California, several employees in northwest Bakersfield no longer work at a Taco Bell there after reports they had taunted a local police officer last week, according to the manager of the outlet. A customer had told a local TV station he could hear the employees making “oink oink” sounds and laughing while the officer was ordering. The manager said the employees no longer work there; he could not say how many employees were involved (Kern Golden Empire).

Documents reveal the enormous cost of spinning off Yum’s China Division

KFC Shanghai
A KFC in Shanghai, where Yums’s China Division is based.

Last fall, Yum announced plans to turn the huge China Division into a standalone company, a mammoth undertaking the Louisville fast-food giant plans to complete by Oct. 31 — despite recent reports of stalled talks with two big investors.

Expenses for investment banking, legal, and other spin-related services are enormous, according to Securities and Exchange Commission documents. Yum disclosed initial expenses of $9 million in the annual report last February. They’ve mushroomed ever since, according to the most recent quarterly report:

$10 million

spent in the second quarter alone

$28 million

since the spinoff was announced in October

$58 million

projected total cost by Oct. 31

What’s at stake?
Greg Creed
Creed

Much of Yum’s future. Based in Shanghai, the China Division has 7,200 restaurants, mostly company-owned KFCs and Pizza Huts. Last year, they accounted for 61% of Yum’s $11.1 billion in revenue and 39% of $1.9 billion in profits. Overall, Yum has 43,000 restaurants. (About Yum.)

Yum CEO Greg Creed and the board of directors agreed in October to separate the China business under pressure from activist investors, including Corvex Management Founder Keith Meister, who gained a seat on the board as part of the deal. They think the sum of the parts is greater than the whole.

Yum’s risky China bet

The company has regularly warned investors about Continue reading “Documents reveal the enormous cost of spinning off Yum’s China Division”

In a first, Trump out-fundraises Clinton in Kentucky — but just barely; Louisville still tops for both; search all 6,900 donors in our new database

402 Zip Code map
Lots of loot for Clinton and Trump in Louisville’s 402 Zip Code area.

Republican Donald Trump’s $75,387 from individual Kentucky donors in June slipped past Democrat Hillary Clinton’s $73,153 in the White House race. That was a big switch for the billionaire businessman, whose skimpy Kentucky fundraising had trailed all other major Republican candidates, according to WFPL.

That trend could shift because candidates typically get a bump after a convention, University of Kentucky political science professor Donald Gross told the station. In Trump’s case, it also could mean Republicans are feeling more confident about their nominee: “If you think he has a chance to win, you start freeing up your money.”

The GOP convention ended Friday. The Democrats’ meeting started today and ends Thursday with (presumably) Clinton’s acceptance speech.

Despite June’s reversal, Clinton remains way ahead in total receipts. In the current election cycle, she’s raised $783,000 vs. $130,049, according to the Federal Election Commission. (How to look up data.)

Louisville leads

For both candidates, the most lucrative areas have been Louisville, based on Zip Codes of donors. For privacy reasons, the FEC breaks down receipts only by three-digit Zip Codes. Here are the dollar amounts for 402:

  • Clinton: $279,900
  • Trump: $24,852

Clinton’s second most-fertile ground was Zip 410, the Covington area, where she picked up $150,349. Trump’s was 405, Lexington, where he got $23,948.

Find every donor to Clinton and Trump

In sheer numbers, Clinton’s received money from more than 17 times as many Kentuckians as has Trump, through June 30. Boulevard has just compiled spreadsheets showing the names of every donor to both candidates: Clinton’s 6,521 vs. Trump’s 377.

Humana co-founder Jones gives $250K more to PAC aiming to flip state House, joining Trump and other heavy-hitters

David Jones Sr
Jones

David Jones Sr.‘s contribution is on top of the $200,000 he gave to Kentuckians for Strong Leadership last September, and $125,000 he gave in February 2014 — a total $575,000, according to new Federal Election Commission records.

The super PAC was created three years ago by allies of U.S. Sen. Mitch McConnell to help Kentucky’s senior senator win re-election in 2014, according to The Courier-Journal.

Donald Trump
Trump

With McConnell’s win in November 2014, the PAC’s priority is now helping Republicans capture a majority in the Kentucky House of Representatives this fall. If they succeed, Kentucky would be the last state government in the south to fall completely under GOP control.

Jones’ most recent donation came May 13, according to the PAC’s second-quarter report, and formed the bulk of the $290,000 receipts for the period. Since it was launched, the PAC has raised at least $8.3 million from 164 donors, according to FEC records. It had $5.5 million on hand at the end of the quarter.

Robert McNair
McNair

High-profile PAC donors include Donald Trump, the newly nominated GOP candidate for the White House; he gave $60,000 in October 2014 and May 2013. But Jones has been most generous, with his total $575,000 more than any other single donor, according to a Boulevard analysis of FEC records. Another top donor was Robert McNair of Houston, who gave $500,000 in September 2014; he’s founder and CEO of the NFL’s Houston Texans. And here are four more:

  • Lawrence F. DeGeorge of Jupiter, Fla., $500,000 in two donations, in July 2014 and November 2013. He lists his employer as venture capital firm LPL Investment Group
  • Christine Chao of New York, $400,000 in September 2014; she lists her occupation as self-employed. (McConnell’s wife, Elaine Chao, has a sister named Christine, but it’s unclear whether they two women are one in the same. Through the wealthy Chao family, McConnell is one of the richest U.S. senators, with as much as $43 million)
  • John W. Childs of Vero Beach, Fla., $390,000 combined in August and May 2014 and April 2013. He’s chairman of his namesake private-equity firm.
  • Murray Energy Corp. of St. Clarksville, Ohio, $300,000, also in September 2014. The coal producer announced earlier this month that it may lay off up to 4,400 coal miners by September in Kentucky, Ohio, West Virginia, Illinois, Utah and Pennsylvania

Read this Boulevard spreadsheet to see all 164 donors.

GOP leads in June

Overall, the Kentucky Republican Party raised $209,000 in June, and spent $105,000, giving it $1.6 million in the bank, according to its FEC report for the month.

The Kentucky Democratic Party didn’t do nearly as well. The state Democratic Central Executive Committee took in only $68,000 during the month and spent $102,000, leaving just $72,651 on hand.