It only funneled (nicer word than “laundered”) about $81,000 in last year’s elections, but for strange bedfellows it’s hard to beat the California Homeowners Association political action committee. The tie to homeowners is tenuous. Its cause? Whatever you got. CHA is used by Sacramento area-based GOP campaign consultant Dave Gilliard, yet its biggest funder was Democrat Nick Berardino’s public-sector union, the OC Employees Association, which put in about $62,000. (Somebody pass Scott Baugh the smelling salts.)
The OC Professional Firefighters Association chipped in, too, as did Lucy Dunn’s OC Biz Council, the free-enterprise Atlas PAC, the Building Industry Association, developer Fullerton Hughes LLC and waste hauler CR&R. Without a distinct Democrat or Republican bent, the PAC spent for some local candidates, against others, and in two cases both for and against. The biggest outlay was $24,000 for mailers attacking Orange Mayor Carolyn Cavecche, who was re-elected anyway. Ironically, Dunn and the Biz Council separately supported Cavecche, who says she is sure the council’s $2,500 contribution to CHA wasn’t aimed at her. Then what did it go for? Hard to tell: Such PACs exist to cover tracks, as well as circumvent campaign-finance limits. And you thought bipartisanship was dead …
Mike Robb and Peter Ueberroth have done a $300 million deal the old-fashioned way—with a handshake. Robb is EVP in charge of real estate for Newport Beach-based Pacific Life Insurance Co., which has held the mortgage on Pebble Beach since 2000. Last July, Robb asked fellow OCer Ueberroth, Pebble’s co-chairman, if he was interested in refinancing the $300 million loan, due in May for another 30 years. Ueberroth said “yes,” and after a couple of phone conversations, they agreed on an interest rate. They promised not to change the rate or the existing mortgage covenants and verbally “shook on it.” Both sides kept their word, despite interest rate fluctuations in the two months before papers were signed. Robb isn’t troubled that rates are higher now: “That’s the way we do it. It doesn’t matter once we lock it in. It’s a win-win.” Ueberroth calls it “integrity.” And yes, both guys love golf … OC High School of the Arts alum Matthew Morrison, star of the hit Fox show “Glee,” chairs the school’s annual gala March 19 at the Hyatt Regency Irvine. Info at www.ocsarts.net …
SEC Commissioner Kathleen Casey speaks at a Forum for Corporate Directors dinner March 22 at the Irvine Marriott. Info at www.fcdoc.org.
