Newt Gingrich's Health Care Think Tank Goes Bankrupt

Weigel
Reporting on Politics and Policy.
April 5 2012 11:05 AM

Newt Gingrich's Health Care Think Tank Goes Bankrupt

142336230
FREDERICK, MD - APRIL 02: Republican presidential candidate, former House Speaker Newt Gingrich (R-GA) waits back stage to be introduced during a campaign town hall-style meeting at the Hodson Auditorium on the campus of Hood College, April 2, 2012 in Frederick, Maryland. Maryland will hold one of three primaries in the nation Tuesday. After acknowledging it is impossible for him to win the GOP presidential nomination outright, Gingrich has vowed to stay in the presidential race even after firing a third of his campaign staff last week, taking the fight to the party convention. (Photo by Chip Somodevilla/Getty Images)

Photo by Chip Somodevilla/Getty Images

Dave Williams scoops that the Center for Health Transformation, the think that Newt Gingrich started in 2003, has filed for Chapter 7 and started liquidating assets. The documents put the CHT's assets at less than $100,000, its liabilities at more than $1 million.

Screen shot 2012-04-05 at 10.38.34 AM

Among the creditors: Gallup, several health care companies, and Newt and Callista Gingrich themselves. And it's really a stunning reversal of fortune. Back in November, when Gingrich enjoyed his brief renaissance as the Republican frontrunner, Dan Eggen reported that the think tank had earned $37 million over eight years. The catch: It used to be able to offer "direct Newt interaction" to health care companies. The former speaker had built himself back into a sought-after pundit. Without him, the CHT had no way to raise money.

"The Center for Health Transformation was an complex and ambitious project to promote free-market consumer-driven solutions for better care of the highest quality with the most choices at the lowest costs," says Rick Tyler, Gingrich's longtime spokesman who now leads the pro-Gingrich Super PAC Winning Our Future. "The exact opposite of ObamaCare. There are very few people capable of successfully leading such an organization. It's unfortunate, but not surprising, that without Newt Gingrich's leadership, the organization failed."

Thus is the fate of Newt, Inc. American Solutions for Winning the Future, his first think tank, shut down in July 2011 because it couldn't raise money anymore. Whenever Gingrich decides to leave the trail, he returns to a far-smaller empire of influence. The same thing happened to Rudy Giuliani -- who, to be fair, ran a pathetic waste of a campaign, winning nothing.

David Weigel is a reporter for Bloomberg Politics

TODAY IN SLATE

Politics

The Irritating Confidante

John Dickerson on Ben Bradlee’s fascinating relationship with John F. Kennedy.

My Father Invented Social Networking at a Girls’ Reform School in the 1930s

Renée Zellweger’s New Face Is Too Real

Sleater-Kinney Was Once America’s Best Rock Band

Can it be again?

The All The President’s Men Scene That Captured Ben Bradlee

Medical Examiner

Is It Better to Be a Hero Like Batman?

Or an altruist like Bruce Wayne?

Technology

Driving in Circles

The autonomous Google car may never actually happen.

The World’s Human Rights Violators Are Signatories to the World’s Human Rights Treaties

How Punctual Are Germans?

  News & Politics
Politics
Oct. 22 2014 12:44 AM We Need More Ben Bradlees His relationship with John F. Kennedy shows what’s missing from today’s Washington journalism.
  Business
Moneybox
Oct. 21 2014 5:57 PM Soda and Fries Have Lost Their Charm for Both Consumers and Investors
  Life
Outward
Oct. 22 2014 9:00 AM Wailing Against the Pansies: Homophobia in Whiplash
  Double X
The XX Factor
Oct. 21 2014 3:03 PM Renée Zellweger’s New Face Is Too Real
  Slate Plus
Working
Oct. 22 2014 6:00 AM Why It’s OK to Ask People What They Do David Plotz talks to two junior staffers about the lessons of Working.
  Arts
Brow Beat
Oct. 22 2014 9:19 AM Nine Actors Remember Their Famous Horror-Movie Deaths
  Technology
Future Tense
Oct. 22 2014 8:43 AM Thunderstruck: Rock Out With Mother Nature’s Evil Side
  Health & Science
Wild Things
Oct. 22 2014 9:39 AM Gertjie and Lammie, a Magical (and Bizarre) Friendship
  Sports
Sports Nut
Oct. 20 2014 5:09 PM Keepaway, on Three. Ready—Break! On his record-breaking touchdown pass, Peyton Manning couldn’t even leave the celebration to chance.