Bush's Brother Has Contract to Help Chinese Chip Maker

WASHINGTON — Neil Bush, a younger brother of President Bush, has a $400,000-a-year contract to provide business advice to a Chinese computer chip manufacturer, according to court documents.

At the same time the Bush administration is promising to crack down on alleged trade abuses by the Chinese, Neil Bush has agreed to strategize with China's Grace Semiconductor Manufacturing Corp., the documents show.

While there is no indication he has done anything improper, Bush's arrangement could attract attention during a presidential election cycle in which Chinese business practices have become a hot-button issue.

Why can't this bum of a brother get a job working for American companies?

Well, one reason is that he is banned from engaging in banking activities.
I think the failed S&L he was associated with cost the taxpayers something like $1 billion.

The Bush family saga
By Nicholas M. Horrock and Richard Tomkins
Published 11/26/2003
UPI
In 1990, Neil Bush paid a $50,000 fine and was banned from banking activities for his role in the mismanagement of Silverado Savings and Loan in Denver. The management of the Silverado was sued in the savings and loan scandal by the Resolution Trust Corporation....
Another area of the transcript deals with Bush's contract with one of China's major semiconductor firms, Grace Semiconductor Manufacturing Corp. of Shanghai. The giant conglomerate, one of mainland China's major firms, is backed by Jiang Mianheng, the son of former Chinese President Jiang Zemin. The contract is expected to bring Bush $2 million in stock over five years.
Brown seemed incredulous as to why Grace would retain Bush. "You have absolutely no educational background in semiconductors do you?" he asked in the March 4 deposition.
"That's correct, " Bush responded.
"And you have absolutely over the last 10, 15, 20 years not a lot of demonstrable business experience that would bring about a company investing $2 million in you, " Brown asked.
"I personally would object to the assumption that they're investing $2 million in me, " Bush answered.
Earlier this month, Taiwan's leader Chen Shui-bian denied reports that he paid $1 million for a 30-minute meeting with Neil Bush in New York. The two did meet, according to Taiwanese officials.
Bush signed the deal with Grace in August 2002. He said he had not received any stock from the company. Bush said he was invited to join Grace by Winston Wong, a co-founder of the company, the son of Wang Yung-ching, the chairman of Taiwan's largest business group, Formosa Plastics Corp. Bush never mentioned in the deposition that Grace had backers from both Taiwan and the Republic of China.
Bush said that Wong was an investor in Ignite! Learning, an educational firm based in Austin, Texas that Bush formed in 2000. The company provides Internet-based learning programs for schools and other groups.

Note: I only included excerpts from this UPI article that relate to Neil's business dealings. I don't believe that any of his personal family troubles have any legitimate connection to the topic of the article I posted. But if you wish, you should be able to access the entire article by clicking on the link I provided.

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