This report was published in July 2000. It should be considered outdated and is kept online for historical purposes only. Please click the link below to see the latest information on the Bush Pioneer - Ranger Network View Report |
Name: Charles J. Wyly, Jr.
Occupation: Ex-Vice Chair, Sterling Software Industry: Finance Home: Dallas, Texas
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Brothers Sam and Charles Wyly and their vast business empire are Bush’s No. 9 career patron. Their empire has included oil, mining, restaurant and retail holdings. The family sold its computer companies—Sterling Software and Sterling Commerce—for $8 billion in 2000. Soon thereafter, the media learned that “Republicans for Clean Air,” which was running $2.5 million of pro-Bush TV ads attacking John McCain as an environmental marauder, was really Sam Wyly. Commercial interests may have shaped Wyly’s views of these candidates. A new Wyly venture, GreenMountain.com gets people to pay a premium for purportedly environmentally friendly electricity. The company has lobbied to get “green” certification for power generated from incinerated animal waste. Sen. McCain ostracized a $30-million tax credit for chicken-shit power he discovered in a ’99 tax bill. McCain denounced it as ludicrous pork. In contrast, Bush’s University of Texas Regent appointees gave the Wylys’ Maverick Capital a lucrative contract to invest $96 million of UT’s endowment (see Pioneer R. Steven Hicks). Two of Texas’ wealthiest Pioneer families, the Basses and the Wylys mobilized to kill a ’97 bill that would have taxed investment partnerships in Texas. Wyly hired Pioneer honcho James Francis to get it done. |
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