Newt's Cash Cow Gets Put Down

Weigel
Reporting on Politics and Policy.
Aug. 26 2011 3:40 PM

Newt's Cash Cow Gets Put Down

Peter Stone breaks the news: Newt Gingrich's extremely successful 527, American Solutions, has shut down.

According to a filing with the IRS on August 18, the 527 spent $2.9 million in the first six months of the year, but only raised $2.4 million in the same period.
A close political confidant to Gingrich since 1989, Gaylord said that the group shuttered its spacious K Street offices on July 7, when the last six staffers were laid off. At one point, the group employed more than three times that number.
Paige Bray, a fundraiser for the 527, notified Gingrich of the decision to close the operation, said Gaylord. Gingrich had no role in the matter, he added.
Advertisement

What I understand is this: Gingrich's presidential campaign hobbled the group in more ways than one. With Gingrich out of the picture, there was no way to attract donors at the pace American Solutions was used to. That might have been survivable, but Gingrich's post-announcement appearance on Meet the Press dried up support from the rest of the former speaker's network. Thousands of e-mails rolled in from angry supporters who thought that Gingrich had undermined Paul Ryan in the interview. Their checkbooks snapped shut. Soon thereafter, so did the doors of American Solutions.

David Weigel is a reporter for Bloomberg Politics

TODAY IN SLATE

The World

How Canada’s Shooting Tragedies Have Shaped Its Gun Control Politics

Where Ebola Lives Between Outbreaks

Gunman Killed Inside Canadian Parliament; Soldier Shot at National Monument Dies

Sleater-Kinney Was Once America’s Best Rock Band

Can it be again?

Paul Farmer: Up to 90 Percent of Ebola Patients Should Survive

Is he right?

Science

“I’m Not a Scientist” Is No Excuse

Politicians brag about their ignorance while making ignorant decisions.

Technology

Driving in Circles

The autonomous Google car may never actually happen.

In Praise of 13th Grade: Why a Fifth Year of High School Is a Great Idea 

PowerPoint Is the Worst, and Now It’s the Latest Way to Hack Into Your Computer

  News & Politics
The World
Oct. 22 2014 6:30 PM The Tragedies That Have Shaped Canada's Gun Politics
  Business
Continuously Operating
Oct. 22 2014 2:38 PM Crack Open an Old One A highly unscientific evaluation of Germany’s oldest breweries.
  Life
Gentleman Scholar
Oct. 22 2014 5:54 PM May I Offer to Sharpen My Friends’ Knives? Or would that be rude?
  Double X
The XX Factor
Oct. 22 2014 4:27 PM Three Ways Your Text Messages Change After You Get Married
  Slate Plus
Tv Club
Oct. 22 2014 5:27 PM The Slate Walking Dead Podcast A spoiler-filled discussion of Episodes 1 and 2.
  Arts
Brow Beat
Oct. 22 2014 4:10 PM Skinny Mark Wahlberg Goes for an Oscar: The First Trailer for The Gambler
  Technology
Future Tense
Oct. 22 2014 5:33 PM One More Reason Not to Use PowerPoint: It’s The Gateway for a Serious Windows Vulnerability
  Health & Science
Wild Things
Oct. 22 2014 2:42 PM Orcas, Via Drone, for the First Time Ever
  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.