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Republican U.S. Senate candidate Mike McGavick's lucrative retirement package from Safeco emerged again as a campaign issue Tuesday when a shareholder lawsuit accused McGavick and Safeco's board of illegally paying him $28.4 million after he resigned as chief executive.
Knoll Lowney, a lawyer active in liberal causes, filed the suit on behalf of a great, great-granddaughter of a Safeco founder and denied it was motivated by McGavick's campaign to unseat Democratic Sen. Maria Cantwell.
Lowney said McGavick and Safeco executed an agreement last December, after he became a Senate candidate, requiring him to provide transition services for the first two months of 2006, that amounted to "an illegal giveaway of Safeco assets."
The state Democratic Party previously filed a complaint with the Federal Election Commission alleging that McGavick's compensation package, coming after he became a candidate, constituted an illegal corporate campaign contribution. The FEC hasn't acted on that complaint yet.
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Posted by RationalThought at 8/1/06 2:23 p.m.
Gee - who should we trust to understand the needs of average people here in Washington State? Who best represents people who work for a living, who often are forced to go without health care, who have seen their pensions evaporate, etc.? Would you trust these concerns to someone who was the former executive of an insurance company, who just made $28 million simply by retiring? Or, would you trust these concerns to someone who's spent the vast amount of her career in public service, as a public servant? Yes, she spent a few years at Real Networks during the dot.com boom, but most of her experience derives from her career representing AVERAGE people in Olympia and in Washington, D.C.
If you think we need more CEOs running things in Washington, D.C., then go ahead and vote for McGavick.
If you think we need more real people running things in Washington, D.C., then make the smart choice and vote for Maria Cantwell!