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POLITICS

Obama’s No. 3 bundler profits from light-bulb regs, individual mandate

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Politics,Beltway Confidential,Timothy P. Carney

President Obama’s third most important fundraiser, Michael Kempner, founded a lobbying firm and was in 2010 named to the board of a high-tech lighting company that directly profits from Obama’s green-energy policies.

Kempner, according to a New York Times’ analysis, has raised more than $3 million for Obama. The firm he founded, MWW Group, is mostly known as a public relations shop, but it also does lobbying.

Most of MWW’s clients are municipalities and universities seeking federal appropriations. But the firm has plenty of big corporate clients like Blue Cross/Blue Shield, WebMD, and MolyCorp minerals.

Kempner and MWW occupy an interesting position relative to light-bulb regulations. MWW is the lobbyist for Lighting Sciences Group, which is owned by Pegasus Capital. Kempner is an “operating advisor” to Pegasus, and in 2010 was named to LSG’s board.

Lighting Sciences Group bills itself as the leading supplier of advanced LED lighting. Of course, light-bulb-efficiency regulations — defended by the Obama administration — drive business to the more expensive, but more efficient LED bulbs. See the image above, where the company explains that legislation basically forces people to adopt their technology.

And Blue Cross/Blue Shield? Well, ObamaCare made their product mandatory. Remember, Blue Cross/Blue Shield of Massachusetts took the Obama administration’s side in the Obamacare litigation.

So here you have a guy who founded a lobbying firm and is involved with an investment firm that profits from the individual mandate, green-energy regulations, and stimulus funding — and he’s raising $3 million for Obama.

That seems relevant.

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