Wife's Fortune, Connections Boost McCain

Cindy McCain's Assets From Beer Distributor Are In Her Name, But Have Given Candidate A Wealthy Lifestyle

(AP)  On a spring day at a speedway in the South, John McCain posed with his wife, Cindy, and racing star Dale Earnhardt Jr., highlighting the couple's political and business interests in a single snapshot.

McCain served as honorary starter of the NASCAR race that weekend in Charlotte, N.C. Earnhardt drove the Budweiser car, painted military camouflage, rather than its trademark red, to honor the troops.

Budweiser, then NASCAR's official beer, is brewed by Anheuser-Busch Cos. Inc., whose products have made Cindy McCain and her family a fortune.

The brewer sold toy replicas of its race car to aid the Special Operations Warrior Foundation and publicized its support for the group, on whose board John McCain served and whose chairman later endorsed him. The speedway appearance helped McCain court NASCAR voters, and his campaign circulated video of the event over the Internet.

The McCains' marriage has mixed business and politics from the beginning, according to an expansive review by The Associated Press of thousands of pages of campaign, personal finance, real estate and property records nationwide. The paperwork chronicles the McCains' ascent from Arizona newlyweds to political power couple on the national stage.

As heiress to her father's stake in Hensley & Co. of Phoenix, Cindy McCain is an executive whose worth may exceed $100 million. Her beer earnings have afforded the GOP presidential nominee a wealthy lifestyle with a private jet and vacation homes at his disposal, and her connections helped him launch his political career - even if the millions remain in her name alone. Yet the arm's-length distance between McCain and his wife's assets also has helped shield him from conflict-of-interest problems.

Nearly 30 years before John McCain became the Republican presidential nominee, he worked in public relations at his wife's family company.

Within a few years of marrying Cindy Hensley, the daughter of a multimillionaire Anheuser-Busch distributor, John McCain won his first election. He was new to Arizona politics and fundraising in the 1982 House race, and his campaign quickly fell into debt. Personal money - tens of thousands of dollars in loans to his campaign from McCain bank accounts - helped him survive.

Anheuser-Busch's political action committee was among McCain's earliest donors. Cindy McCain's father, James Hensley, and other Hensley & Co. executives gave so much the Federal Election Commission ordered McCain to give some of it back. McCain's campaign used Hensley office equipment such as computers and copiers, and Cindy McCain personally paid some of the campaign's bills.

The campaign gradually reimbursed Hensley for use of its equipment and Cindy McCain for her expenses. The loans - described initially by John McCain as coming from him and his wife - caught the eye of the FEC, which repeatedly questioned him about them; spouses are held to the same donation limits as everyone else.

McCain told the FEC the loaned money came from his share of joint accounts. At the time, McCain reported drawing a $25,067 salary and $25,000 bonus working for Hensley in public relations and receiving a Navy pension of $11,038 a year; his 1982 financial disclosure report showed bank interest but didn't say how much the bank accounts held.

McCain's campaign debt grew to about $177,000 by the end of 1982. His 1984 House campaign repaid just under half the loans. McCain forgave about $93,000 in loans, a sizable personal donation to his inaugural campaign.

McCain's fundraising base is now far broader than his family bank accounts and Hensley. Still, Hensley and Anheuser-Busch executives have been important and longtime supporters. Long before McCain became a sought-after speaker on the national stage, he gave several speeches at Anheuser-Busch's invitation in the 1980s and donated his fees to charity.

Hensley executives are among the Arizona senator's top career givers. The Anheuser-Busch PAC has given McCain's campaigns at least $19,500 over the years. McCain's campaign fundraisers include Robert Delgado, Hensley's president and chief executive officer; Andrew McCain, the company's chief financial officer and John McCain's stepson from his first marriage, to Carol Shepp; and August Busch III, chairman of Anheuser-Busch's executive committee. Anheuser-Busch in 2006 gave $25,000 to the International Republican Institute, a pro-democracy group chaired by McCain.

McCain's campaign still taps Hensley assets: His presidential campaign paid at least $227,000 last year to a limited liability company in which his wife and children are invested, King Aviation, for use of its private jet, according to campaign finance reports.

Although Cindy McCain's business connections have benefited John McCain politically, they appear to have had little impact on his personal fortunes.

McCain is routinely ranked among the richest senators. But a prenuptial agreement has kept most assets in his wife's name. That arrangement served as a defense for McCain when the Senate ethics committee scrutinized a real estate deal involving his wife, her father and disgraced savings and loan owner Charles Keating Jr. McCain said at the time the separation of assets helped prove the deal didn't benefit him.

McCain himself reports little more wealth than when he started in politics. With his book royalties and radio-appearance fees donated to charity, McCain's Senate salary of $169,300 and Navy pension of about $56,000 are his only significant sources of income. He has accounts at two banks with his wife worth up to $15,000 each, according to his most recent financial disclosure report.

In contrast, Cindy McCain is a millionaire many times over - though the McCains haven't disclosed just how many times.

In government records, McCain is permitted to describe his wife's salary at Hensley as simply "more than $1,000" and, when listing her major assets, say only that they are worth "more than $1 million."

The reports show Cindy McCain has at least $9 million in assets on her own and at least $15 million with the McCain children. But those figures are virtually meaningless; her stake in Hensley & Co. alone almost certainly exceeds them by tens of millions of dollars.

Beverage industry analysts estimate Hensley's value at more than $250 million and its annual sales at $300 million or more. Hensley describes itself as the third-largest Anheuser-Bush wholesaler in the United States. It sold more than 23 million cases of beer last year and is among the nation's biggest beer distributors regardless of brand.

Still, don't expect Budweiser to be the beverage of choice at the White House if McCain is elected. "Senator McCain very rarely, if ever, drinks alcohol," campaign spokeswoman Jill Hazelbaker said.

[gunownerdan]

Look at all these "news" stories.

Clinton this,
McCain that,
Obama this,
Clinton that,
McCain this,
Obama that,

The best prostitutes certainly get the most media attention!

[excoachken]

When your going to trade in your first wife for a newer model "trophy" why not pick one with a lot a bread and the weirdest eyes in the world!

[oscarez]

John (George W Bush)McCain just what we need, another rich boy running the USA. Oh well, we are just a bunch of dumb working class little people tax payers. What do we know!!!

[oscarez]

How can McCain''s Navy pension of $11,038 a year in 1982 grow to a Navy pension of about $56,000 in 2006? How many of you Navy retires have been this lucky? No wonder the USA is in debt.

[walker1209]

So What!! I will be so glad when the NEWS Departments of these media conglomerates start reporting real news.

Please give us a break with the fluff stories.

[infidel_us]

''Wife''s Fortune, Connections Boost McCain''

How would THIS look? ''Wife''s Fortune, Connections Boost Kerry'' You''ll never see it. Thank you LAMEstream media.

[gwagener]

It all make sense to me now. I knew McCain was a falanderer and heavy drinker while married to his first wife. I couldn''t figure why he married Cindy just a month of so after divorcing his first wife. What woman whould marry a dog like the young McCain? Perhaps she was dumb enough to beleive he loves her, right, she actually belived she was more than his other ******** to him. But it make sence now that I know it was a package deal. He gets political backing, she gets a sham marriage that gives her family access to political power. It all adds up now!

[samthetvcat]

What ever happened to that chick he had the affair with in return for the private jet and the letter to her boss? Did Karl Rove squirrel her away into some underground bunker somewhere?

When do we get to that part of the ''bio-tour''?

[danstoned]

SamTheTVCat

Democrats have lots of stuff in the closet to bring down John McCain and his trust funded wife named Cindy McCAin. You will be seeing all of this in September and October, when John McCain is already making a complete fool of himself debating the democratic nominees on National TV. There are not enough white folk in the USA to get John McCain elected.

[barbaraf4]

You would think that with all that money, Cindy would be able to do something about her hair.

[smiley676]

You would think that with all that money, Cindy would be able to do something about her hair.


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Posted by barbaraf4

Wow, is that really the most intelligent comment you can come up with?

[smiley676]

There are not enough white folk in the USA to get John McCain elected.


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Posted by danstoned

You are a racist jerk.

[oscarez]

I wonder if McCain is elected will he work to get the drinking age lowered to 18 year olds? You can die for your country but you can''t buy a beer.

[j_flood]

Politics is so often about the petty. Many comments here verify that daily.

[byeneocons]

The Democrats need to create a phony organization like "Swift Boat Veterans for the Truth" to expose John McCain''s phony prisoner of war record, his phony military service, and the fact that he married a stinking rich Ketchup heiress, I mean Beer, just to boost his standing with Republicans.

Isn''t that what the compassionate conservative Christians did to John Kerry?

[redbds]

Another wasted story. I see all of you misinformed liberals are still trying to make an issue out of this. So McCain gets some of his money from beer. I''m suprised none of you Clinton and Obama supporters haven''t equated that to Bush getting his money from big oil. One of you tried to make the connection that he got financial support and her family got access to political power. Like you need political power to sell beer. Not to mention that when they got married he didn''t have any political power. Just goes how far the liberal agenda will go to try to make and issue out of nothing.

[truth832-2009]

Among other inconsistency of the conservatives is that they have persuaded the ignorant that they are against tax increses; meanwhile, they have created the Iraq war and the current economic nightmare! There''s is clearly a backdoor tax unawares to those who buy in to the no tax increase argument. The argument extends to McCain''s stated position in charging that democrates want to increase taxes!

[redbds]

mexit,

Interesting story. You seem to remember a lot of things although from your posting most of your memory is fuzzy. Trying to connect McCain to some scam is dispicable. How about producing something other than fuzzy memories?

[demwatcher]

Posted by mexit at 12:31 PM : Apr 03, 2008

Your memory is almost as big a joke as your "so-called" scoop.

Liberal Dumbarse.

[truth832-2009]

Among other inconsistency of the conservatives is that they have persuaded the ignorant that they are against tax increses; meanwhile, they have created the Iraq war and the current economic nightmare! There''''s is clearly a backdoor tax unawares to those who buy in to the no tax increase argument. The argument extends to McCain''''s stated position in charging that democrates want to increase taxes!

[redbds]

Among other inconsistency of the conservatives is that they have persuaded the ignorant that they are against tax increses; meanwhile, they have created the Iraq war and the current economic nightmare! There''''s is clearly a backdoor tax unawares to those who buy in to the no tax increase argument. The argument extends to McCain''''s stated position in charging that democrates want to increase taxes!


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Posted by truth832 at 12:29 PM : Apr 03, 2008

??? *** is that? My taxes haven''t gone up in the last seven years. I think that I would know if I was paying more taxes. I don''t think the anyone is backdoor taxing my income. The democrats are going to riase taxes if they get elected. It is not an accusation from the conservatives. The dems say it out loud to anyone that will listen. Bottom line is that if McCain is elected you will keep more of your income for yourself. If Obama or Clinton is elected you will pay more in taxes so that they can give your money to lazy people who would rather stay on welfare than work or to dumb people who buy bigger homes than they can afford and expect the government to bail them out when they get into trouble.

[bobnjersey]

can he drink her under the table ... or is it the other way around?

[redbds]

Hey mexit,

You have posted the same thing 5 times. Just letting you know in case you forgot that you already posted it. It seems like your memory might not be too good.

[truth832-2009]

"You have posted the same thing 5 times. Just letting you know in case you forgot that you already posted it. It seems like your memory might not be too good."
redbds

The objective in reposting is to hide those postings that one might consider harmful to one''s own position. It is not a memory lack at all. A prime example of the ignorance mentioned in my earlier back door tax argument!

[randynason]

Mrs. Kerry was criticized for being a wealthy woman and she is heiress to the catsup company. And now we are to assume that because Cindy McCain is a beer heiress, she is a fine respectable lady? I don''t seem to recall anyone''s life being ruined by eating too much catsup with their fries. What''s the logic with this piece? I''ll pass on the beer nuts, if you don''t mind.

[redbds]

Mrs. Kerry was criticized for being a wealthy woman and she is heiress to the catsup company. And now we are to assume that because Cindy McCain is a beer heiress, she is a fine respectable lady? I don''''t seem to recall anyone''''s life being ruined by eating too much catsup with their fries. What''''s the logic with this piece? I''''ll pass on the beer nuts, if you don''''t mind.


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Posted by RandyNason at 12:50 PM : Apr 03, 2008


Wow. I was wondering how long it would take one of you liberals to accuse Cindy McCain of ruining peoples lives because her family sells beer. It actually took longer than I thought. Hey idiot - Beer makers do not ruin peoples lives they just sell beer. People make the choice to ruin their own lives.

[bookout2]

I''ll put it this way, if Barack Obama wins the
nomination I will vote for John McCain, and, I am
a black man.

[redbds]

The objective in reposting is to hide those postings that one might consider harmful to one''''s own position. It is not a memory lack at all. A prime example of the ignorance mentioned in my earlier back door tax argument!


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Posted by truth832 at 12:50 PM : Apr 03, 2008

I totally agree with you. The back door tax arguement you mentioned earlier was ignorant.

[hungry1968]

She looks like Cruella DeVille.

[hungry1968]

can he drink her under the table ... or is it the other way around?

Posted by bobnjersey at 12:46 PM : Apr 03, 2008




Neither of them can hold a liquor bottle to GWB.

[ponco seno]

Wife''s Fortune, Connections Boost McCain.



Ain''t that call a SUGAR MAMA''

[redbds]

I''''ll put it this way, if Barack Obama wins the
nomination I will vote for John McCain, and, I am
a black man.


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Posted by bookout2 at 12:58 PM : Apr 03, 2008

I would vote for Obama before I would vote for Clinton.

[snbd1213]

SO NOW WE ARE SURE THAT THESE TWO CAN RULE THE UNITED STATES BECAUSE THEY ARE BOTH MILLIONAIRES? NO WAY. MONEY SHOULD BE NO ASSET TO ANY CANDIDATE. HOWEVER, IT SHOWS WHAT TYPE OF MAN MCCAIN "REALLY IS" BY LETTING HIS WIFE BACK HIM WITH HER MONEY. WHY WAS THE TALK SO AGAINST JOHN KERRY WHEN HE RAN? OH, I GUESS IT WAS BECAUSE HE WAS A DEMOCRAT, HUH?

[redbds]

SO NOW WE ARE SURE THAT THESE TWO CAN RULE THE UNITED STATES BECAUSE THEY ARE BOTH MILLIONAIRES? NO WAY. MONEY SHOULD BE NO ASSET TO ANY CANDIDATE. HOWEVER, IT SHOWS WHAT TYPE OF MAN MCCAIN "REALLY IS" BY LETTING HIS WIFE BACK HIM WITH HER MONEY. WHY WAS THE TALK SO AGAINST JOHN KERRY WHEN HE RAN? OH, I GUESS IT WAS BECAUSE HE WAS A DEMOCRAT, HUH?


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Posted by snbd1213 at 01:04 PM : Apr 03, 2008

Obviously you have no idea how politics works in this country.

[redbds]

Posted by SHURCH4TRUTH at 01:05 PM : Apr 03, 2008

So basically you are saying that the people from the south are nicotene addicted, lazy, fat, dumb, gun toating, poor, former military members because the republicans are in office. And that southerners are too dumb to know better? I think some of us in the South might take offense to that. I don''t think the actual statistics support your posting.

[brianp55]

Historically, all or most of these candiates have been wealthy...this is a non-issue. Actually, I give McCain credit. A young, attractive and wealthy wife....good move. Those vacation homes will come in handy because I think John is going to need a place to retire to after this election.

[redbds]

She''''d have to be a pretty big miracle worker for McDoofus to win the election this cycle. I don''''t think I''''ve ever seen things so bad for the republican party before.


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Posted by teluride1 at 01:07 PM : Apr 03, 2008

The Democrats control both houses of congress. It is very unlikely that the American voters will let the Dems control congress and the white house at the same time. That is why McCain is going to be the next President.

[infidel_us]

It actually took longer than I thought. Hey idiot - Beer makers do not ruin peoples lives they just sell beer. People make the choice to ruin their own lives.
Posted by redbds at 12:56 PM : Apr 03, 2008

Don''t even waste our time with these lib bedwetting losers. If Kerry''s wife sold beer, they would be arguing the other side. They haven''t got an intellectually honest bone in their pathetic lib bodies.

[redbds]

true but you''''re not telling the rest of the story...all the vice products (alcohol cigarettes, etc) are advertised and sold in a way to entice people starting at a young age when they are more eaily influenced or not able yet to make good dicisions. They then turn into alcoholics or become adicted to smoking and die of lung cance (no problem for far-right neo-con repulicans because they become rich).

Its known that big companies (maybe Cindy''''s) have used advetisement this way and laws have been passed to prevent it. Event you smarth and more humanatarin republican friends have sponsored and passed such laws. You need to talk to those guys.


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Posted by SHURCH4TRUTH at 01:14 PM : Apr 03, 2008

Here is a thought for you. Instead of blaming advertising, which is heavily regulated, why don''t we blame the decline in parenting. When I was a kid my parents taught me about these things in spite of unregulated advertising at the time. I do the same with my children. In this day and age most parents let their kids run wild and do what ever they want and them blame beer makers and advertising executives when their kids start drinking or smoking. Lets blame someone else for everyting! Sounds like the liberals who blame everything on the other party when they have failed to get anything done in the congress that they have controlled for three years now.

[redbds]

The devil could run on the democrat ticket, and I''''d still vote for him.


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Posted by teluride1 at 01:22 PM : Apr 03, 2008

I think she is running. Isn''t she?

[prinzowhales]

CRIME PAYS!! Here is the druggie daughter of an organized crime figure with her Keating Five "Songbird" husband who made 32 propaganda films for the North Vietnamese. He is a security risk. He should never be within a mile of classified information.

[redbds]

CRIME PAYS!! Here is the druggie daughter of an organized crime figure with her Keating Five "Songbird" husband who made 32 propaganda films for the North Vietnamese. He is a security risk. He should never be within a mile of classified information.


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Posted by Prinzowhales at 01:30 PM : Apr 03, 2008

Prinz,

Where have you been? I thought you would be all over this one. Come on lets hear some more of the liberal conspiracy theory BS that you usually throw out there. This one was pretty weak. You can do better than that. I am sure that you can find something on one of your liberal websites to copy and paste in here.

[infidel_us]

They treat their southern listeners like imbeciles becasue they are simply an echo chamber and that my Southern friend is something that you should be offended about.
Posted by SHURCH4TRUTH at 01:23 PM : Apr 03, 2008

Hey bugnuts, you think that may be why they call it the ''bible belt?'' As an amateur sociologist, I think you will see more and more settling of ''like minds'' in the decades to come.

I have to say, given the choice of living in Atlanta, or living in San Fransissysco, I''ll take the ATL any day.

[redbds]

The governments job is not boss. Its serve. Serve the public. And I''''m getting awfully ******** tired of you lunatics telling me what to do..


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Posted by teluride1 at 01:31 PM : Apr 03, 2008

Be careful. You are starting to sound like a conservative.

[element51]

What''s all this fuss about Ms. Kerry and Ms. McCain being rich. So what if they are. I love my wife but it would be nice if she was worth a few hundred million. Why don''t we have intelligent discussions about the issues here rather than taking cheap shots at the wives? I am going to vote democrat but if we lose to McCain I hope that he turns out to be good at the job. That''s what matters at this point. I truly don''t think he will be but one can always hope. Let''s try to pull together as a unified nation and stop with all the sarcasm and hatred. Try to remember that we are all in the same boat...and it''s leaking badly. If it goes down we all go down with it.

[greybeardvet]

Again, we see the shadow of Charles Keating in McCain''s life. It would take a scheming politician to use a prenuptial agreement to shield him from corruption charges in his dealings with crooks. Blame it on the wife.

[oscarez]

Well said Element51.

[tomanyt]

Element51...You don''t really expect to come to these boards and actually talk about the "issues" do you? That just isn''t done. Its not normal.

[demslie]

I seem to remember that McCain was connected with all of this and later heard that the whole thing was a scam. I also remember one of the politician''''s wives doing a talk and perhaps it was McCain''''s wife. It has made me wonder what the Republican party will "buy".

Posted by mexit

Gees, make it up as you go along why don''t you. This is the type of expert opnion (lies, rumors and enuindo) that can be expected for Democrats. Don''t forget, the Democrat Controlled Main Stream Press editors, are in the smoke filled back rooms with Howard Dean and members of the DNC. They are creating the stories for the "October Surprise", which is the traditioanl lying time for Democrats to bring out "Smoking Gun NEWS Stories" against political enemies. The Democrats have only begun to lie.

[tomanyt]

Element51...One more thing: Its Mrs. Kerry and Mrs. McCain.