$30 MILLION FORBES SPENT NOT A TOTAL LOSS.Byline: Farrell Kramer Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Steve Forbes For the boxer, see . Malcolm Stevenson "Steve" Forbes Jr. (born July 18, 1947), is the son of Malcolm Forbes and the editor-in-chief of business magazine Forbes as well as president and chief executive officer of its publisher, Forbes Inc. spent about $170,000 a day on his presidential gambit, a sizable amount to sink into a losing cause regardless of his wealth. But the $30 million burned over six months, worth roughly half the Forbes family's dozen Faberge Imperial Eggs, isn't viewed as ill-spent by the eldest son of the late Malcolm Forbes Malcolm Stevenson Forbes (August 19, 1919 – February 24, 1990) was publisher of Forbes magazine, founded by his father B.C. Forbes and today run by his son Steve Forbes. . On the contrary, the magazine publisher sees it as one of the biggest nest eggs of all time. "Let me tell you I believe I made the best investment any of us can make," he said Thursday in bowing out of the race. "I tried to make my country a better, stronger and finer place." As an investment, there's a case to be made that the money he spent, most of it his own, will work for him. For a man worth more than $400 million, it's not even an onerous amount, coming to less than 8 percent of his estimated stake in Forbes Inc. In fact, Forbes spent roughly half of the more than $60 million that Texas businessman Ross Perot H. Ross Perot (born June 27, 1930) is an American businessman from Texas, who is best known for seeking the office of President of the United States in 1992 and 1996. Perot founded Electronic Data Systems (EDS) in 1962 and later sold the company to General Motors and founded Perot pitched in during his 1992 independent bid for the presidency. "He is a big winner in terms of prestige and influence," said Larry Sabato Larry J. Sabato (b. August 7, 1952) is the Robert Kent Gooch Professor of Politics at the University of Virginia, director of their Center for Politics, and a political analyst. He was called "the most-quoted college professor in the land" by the Wall Street Journal in 1994. , a professor of government at the University of Virginia. "He's a big winner in terms of political power and, lastly, he's going to be a big winner financially in the long run." "This will probably help his magazine," Sabato continued, "and my guess is there's a book or two in the works." The analyses of what Forbes got for his money have so far been strictly mathematical - 76 Republican delegates, working out to $395,000 each. But the gains also come in the personal, professional and political dividends that aren't so obvious. Professionally, Forbes, editor in chief of Forbes magazine and chief executive of Forbes Inc., got exposure that any marketing executive would kill for. Frank Perdue Frank Perdue (May 9, 1920 – March 31, 2005), born in Salisbury, Maryland, was for many years the president of Perdue Farms, now one of the largest chicken-producing companies in the United States. , eat your heart out. During his campaign's height, Forbes' face was everywhere. "This was pretty effective advertising," said John Ward, a professor at Loyola University Chicago Beginnings and expansions Founded in 1870 as the St Ignatius College on Chicago's West Side. In 1908 the School of Law was established as the first of the professional programs. , who specializes in family businesses. "It's one thing to have a piece of mail in a bundle of junk mail, it's another thing to be on the front page of a newspaper or the 10 o'clock news." CAPTION(S): PHOTO Photo (color) Steve Forbes announces his withdrawal from the GOP presidential race this week. Associated Press |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion