Maine's congressional delegation discloses assets

U.S. Sen. Olympia Snowe, R-Maine, continues to be the wealthiest member of Maine's four-member congressional delegation, according to annual financial disclosure reports made available to the public Wednesday.

Associated Press

From top left to bottom right: Sen. Olympia Snowe-R, Sen. Susan Collins-R, Rep. Mike Michaud-D, Rep. Chellie Pingree-D.

The reports, filed by members in May, detail their wealth in 2009. They list all assets, income and investments for members, excluding their $174,000 annual congressional salary and benefits, and their home residences.

Snowe and her husband, former Maine Gov. John McKernan, have assets worth between $12 million and $46 million, according to the filing. The reports require that disclosures be made in wide-ranging brackets, which accounts for the vast variability. For example, the couple's largest asset is common stock in Education Management Corp. and falls in the category of being worth between $5 million and $25 million.

McKernan earned a salary at the Pittsburgh-based education company, where he has held a variety of positions in the past, including chief executive officer and chairman of the board. He also earned income from BorgWarner Inc. of Auburn Hills, Mich., which produces vehicle engine and powertrain technology and products; Goold Health Systems of Augusta, a health care management company that specializes in providing state Medicaid pharmacy benefit services; and Scholastic Inc. based in New York City, a children's book publisher and distributor, according to the report.

None of the other members have spouses.

Snowe's report details a wide array of annuities, equity funds and other investments. Her net worth is about the same as it was in last year's report.

U.S. Sen. Susan Collins' report lists only five assets, including an annuity, a pair of IRAs and two bank accounts. The Republican's assets total between $110,000 and $300,000, about the same as the previous filing.

U.S. Rep. Mike Michaud, a Democrat representing the 2nd District, has assets between $222,000 and $690,000, according to the most recent annual report. He earns rental income on three properties – two on Main Street in East Millinocket and one on Greenwood Street in Augusta. The total rental income was listed at between $12,500 and $35,000. He also owns 6.5 acres in Medway, worth between $1,000 and $15,000.

U.S. Rep. Chellie Pingree, who represents the state's 1st Congressional District, has assets of between $600,000 and $1.25 million, according to the report. The Democrat earns no income from the bed and breakfast she owns on North Haven, an island in Penobscot Bay, but she has eliminated the mortgage debt she listed in the previous year's report.

Michaud was the only member of the delegation to report taking a trip on someone else's dime, a two-day venture to Hilton Head in South Carolina, paid for by the Forest Resources Association.

None of the members or McKernan have debt totaling more than $10,000.

For more information on members' financial disclosures, visit www.legistorm.com.

rmetzler@sunjournal.com

In order to make comments, you must verify your account.

In order to comment on SunJournal.com, you must use your real name and include the town in which you live in your profile. A member of our staff will call you to verify this information. To join in, fill out your user profile completely and check the box "please verify my status." We'll get back to you within one business day to verify your account.

Login or create an account here.

Our policy prohibits comments that are:

  • Defamatory, abusive, obscene, racist, or otherwise hateful
  • Excessively foul and/or vulgar
  • Inappropriately sexual
  • Baseless personal attacks or otherwise threatening
  • Contain illegal material, or material that infringes on the rights of others
  • Commercial postings attempting to sell a product/item
If you violate this policy, your comment will be removed and your account may be banned.

Advertisement

Comments

xyz's picture

Pity poor Jock...

Can you imagine having to go home to "THAT" everyday?
"Snowe and her husband, former Maine Gov. John McKernan, have assets worth between $12 million and $46 million, according to the filing. The reports require that disclosures be made in wide-ranging brackets, which accounts for the vast variability. For example, the couple's largest asset is common stock in Education Management Corp. and falls in the category of being worth between $5 million and $25 million."
Does any of this benefit Maine in anyway?
You're right it doesn't.

thinkingman's picture

Its a symbiotic relationship,

Its a symbiotic relationship, she needs his money, he needs her power throne...just check some of his investments in Maine....amazing how he got those connections - must have been open bidding (wink!)

sandra2's picture

Jealous of what Bob? whoring

Jealous of what Bob? whoring myself out to a rich guy 30 years older than me for money. Its not that hard to do. Call me old fashioned, I chose my husband based on love not how much money I could "suck" out of him.

thinkingman's picture

How could I have been so

How could I have been so wrong? I thought Jock Mckernan, wife of Olympia was Executive Director of EDMC a private post secondary educational corporation not associated with the public sector, but rather with stockholders (who are doing quite wel under his leadership).

lewistonauburnsucks's picture

No, Snowe is a closet

No, Snowe is a closet Democrat, that's why she hasn't done a lick of labor in her life, as well as Pingree, who wouldn't know work if it kicked her in the nose.

tron's picture

It's a great thing that Snowe and her husband

are republicans. Otherwise two life long politicians who have never done a lick of labor in their lives, who have used their lifelong political connections to become multi-millionaires would be vilified by the right wing wackos. Instead they get a pass. Instead a Democrat who has a rich boyfriend is crucified.

frnchmn's picture

I doubt sandra2 is

I doubt sandra2 is jealous...but does the phrase: "do as I say not as I do" mean anything to you...because I believe that is Pingree's mantra. It's just like Pelosi and her husband with an estimated net worth exceeding $20 million telling us "little people" how she understands and feels the pain of how tough the financial crunch is on us...such lunacy!

verified

Pingree report

Sandra2,
You sound jealous,areyou lonely!

sandra2's picture

Luckily Pingree doesn't have

Luckily Pingree doesn't have to list her live in boy toy billionaire, hedge fund manager, Donald Sussman or everyone would see what a sell out fraud she really is. I wish Ethan Strimling had run against her again. He's honest and not a sell out like Pingree.

Advertisement

Stay informed — Get the news delivered for free in your inbox.

I'm interested in ...