Bush's brother has US$400,000 contract with Chinese firm

People Daily ^ | 11.29.03

[Dr. Marten]

Bush's brother has US$400,000 contract with Chinese firm

Neil Bush, a younger brother of US President George W. Bush, has a 400,000-dollar-a-year consulting contract with a Chinese computer chip manufacturing firm, The Los Angeles Times has reported on its web site.

Citing court documents filed in the course of Neil Bush's divorce proceedings in Houston, Texas, the newspaper said the president's brother had agreed to strategize with China's Grace Semiconductor Manufacturing Corp at the same time the Bush administration is trying to help US firms compete more effectively against the Chinese.

Grace Semiconductor, based in Shanghai, was founded in 2000 by Winston Wong, the son of Taiwanese business magnate Wang Yung-ching, the Times said. Wong co-signed the contract with Bush.

There is no indication that Neil Bush has done anything improper, according to the report.

However, the arrangement could attract attention during a presidential election cycle in which Chinese business practices have become a hot button issue, The Times said.

"There's certainly the appearance of influence being sought," the paper quotes Charles McMillion, a Washington business consultant who advised a congressional commission on US-China policy as saying. "If nothing else, it doesn't look good."

Bush's divorce from Sharon Bush was finalized in April.

According to the consulting contract, Neil Bush was to receive two million dollars worth of Grace Semiconductor preferred stock over five years, issued in annual increments of 400,000 dollars, the paper said.

In return, Bush agreed to "provide GSMC from time to time with business strategies and policies; latest information and trends of the related industry, and other expertized advices," the report quotes the contract as saying.

Bush signed the contract on August 15, 2002, according to The Times.

The report said it was not clear how much compensation Neil Bush had received so far.

The contract said he would receive the first 400,000-dollar allotment within one month of the company's 2002 board meeting, "provided you have duly furnished GSMC with the information and details required for the issuance or transfer of the share certificate," according to the paper.

The company has said its goal is to become a leading manufacturer of integrated circuits and other semiconductor products, according to the report.

It has invested 1.6 billion dollars to build two manufacturing plants in Shanghai. Production from the first plant began in September, The Times said.

President Bush has three brothers -- Jeb, the current governor of Florida, Neil and Marvin -- as well as one sister, Dorothy.

[Allegra]

Did you have any knowledge of petrochemical plants, or did they just give you hundreds of thousands of dollars as a "consultant" like they gave to Neil Bush?

You ARE kidding around with me....right?

[Trust but Verify]

I don't envy anyone their money or position. as long as it was done within the law, I say 'fine.' If I were fortunate enough to have been born to a wealthy or influential family, I'd take full advantage of it. It's a free country, isn't it?

[Mad Dawgg]

"Your tag line tells me all I need to know, and therefore your comments do not warrant response."

Have you ever seen Tom Daschle and Willie Green in the same room together?

Think about it.

[Willie Green]

Not only that, but women just showed up unsoliticited at his door and had sex with him for free.

Such allegations of personal indiscretions are common during divorce proceedings.
It's irrelevant whether or not it's true.
IMHO, it's a trivial diversion from examining the business and economic implications.

[At _War_With_Liberals]

And he was dumb enuf to screw Whore X.

Imagine all the other goodies and 'off the books' payments he received! (no paper trail)

[Mulder]

Such allegations of personal indiscretions are common during divorce proceedings. It's irrelevant whether or not it's true.

Actually, Neil admitted to it under oath, according to the article I read.

[Willie Green]

If I were fortunate enough to have been born to a wealthy or influential family, I'd take full advantage of it. It's a free country, isn't it?

It used to be.

"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."

-- President Andrew Jackson - (1824)

[Mulder]

You ARE kidding around with me....right?

Neil Bush stated under oath that he was given a large sum of money to act as a "consultant" to an industry that he admittedly had no knowledge whatsoever in.

Don't you find that strange?

I'm assuming that you didn't get such a sweetheart deal when you worked in China, and instead actually had some knowledge in the field you were employed in.

[Willie Green]

Whatever. I still consider it trivial, irrelevant and diversionary.

[Mulder]

Whatever. I still consider it trivial, irrelevant and diversionary.

I really don't disagree, except for the fact that sex is often used as payment for favors among the criminal class.

Also, some so-called Republicans seem to have an obsession about sex, where they really can't focus on anything else. Hence, they went after Klinton for sex instead of treason and a dozen other crimes. They appear to believe that you can't be corrupt unless sex is somehow involved.

But you are correct about the financial stuff being the primary point here.

[Allegra]

I'm assuming that you didn't get such a sweetheart deal when you worked in China, and instead actually had some knowledge in the field you were employed in.

OK, I thought that was the point you were making, but wasn't quite sure.

My American company built the petrochemical plants over there and it was my job to run the logistics as it was on all international projects. I only visited China and just received my normal salary for doing my normal job.

I guess I get touchy because someone once actually accused me of "working with the Communists" for doing this.

[GeekDejure]

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasure. From that moment on the majority always votes for the candidates promising the most money from the public treasury, with the result that a democracy always collapses over loose fiscal policy followed by a dictatorship. The average age of the world’s great civilizations has been two hundred years. These nations have progressed through the following sequence: from bondage to spiritual faith, from spiritual faith to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency, to apathy, from apathy to dependency, from dependency back to bondage.” -- Alexander Tyler, on the Fall of the Athenian Republic

.

[Willie Green]

except for the fact that sex is often used as payment for favors among the criminal class.

LOL! I gotta admit, I hadn't viewed it that way.
Still, in this case it's somewhat penny-ante.
Similar to the ¼ oz bag of peanuts you get on an airline as a snack.

[chudogg]

Prescott Bush Owned ONE SHARE of Union Banking Corp, that is irrefutable. Union Banking Corp was a subsidiary of the Bank voor Handel en Scheepvaardt N.V., which was "affiliated" with United Steel Works, owned mostly by Fritz Thyssen. Fritz Thyssen spoke against the Nazi's in 1939 and feld Germany, he later spent time in the Concentration camps.

Prescott served as Artillery Captain in WW1, and his son George H.W. Bush was serving in WW2. This is hardly grounds for the treasonous claim you make.

Think about it, if we were to go to war with China in the next few years, would you be treasonous because you owned 1 share of a stock that was "affiliated" with a Chinese company? Would you be a traitor because you shop at Walmart?

Yeah Prescott should not have owned that one share and served as an honory Director, but the level of blame he has is the same as every person who shops at Walmart and owns stock that deals extensively with U.S. enemies (and there are a lot of them).

Yes i know many of the Rich industrialists were in bed with the Nazis, but Prescott Bush was hardly one of them.

[Dr. Marten]

"Puh-leeze. China is not 'the enemy'."

Please elaborate. Either you are uniformed, or the rest of us are. Unless of course that was unnoted sarcasm...

[GatekeeperBookman]

Carved into the stone archway, which leads from the entrance foyer into the main exhibit area of the George Bush Presidential Library are the names of primary donars to the Foundation which built & maintains the Library.

Chief among them is The People's Republic of China. George & Barbara were on post in Peking for some time as he was Ambassador to China. His background as head of the CIA under Nixon & Ford ( if I have the time frame correct ). He wrote a note ( in his own handwriting ) now publicized, begging Jimma Carter to allow him to remain at CIA to 'finish' some 'projects'. Jimma declined. Jimma had his own projects to pursue. They always do.

"The War does indeed have many facets; http://aztlan.net/ Look at your enemy."

[GatekeeperBookman]

Please read ABOVE, #76.

My wife nearly hit me when I blurted out what I saw-she was afraid they would eject us from the building. I have no doubt that 'cultural' exchanges and some international acts of munificence are potentially good things-but this is curious-for those of us who are paranoid.

"The War does indeed have many facets; http://aztlan.net/ Look at your enemy."

[GatekeeperBookman]

You should post this at least daily, on a popular thread.

Strange that certain replies ignore the pecular problems of a member of the President's family being active in & among the biz of our potential enemies. The world is a large place & there are so many other locals where one could be 'investing' money & time-those with no controversy. Anyplace which has NO echo of the Klintoons & the China sell-out.

"The War does indeed have many facets; http://aztlan.net/ Look at your enemy."

[Pan_Yans Wife]

Jimma had his own projects to pursue. They always do.

On the face of it, that is understandable. Out with the old, and on with the new. Unfortunately it appears that Carter only made a mess of things.

[BlueNgold]

Lemme guess: you're just another flatulent bozo who can't resist launching personal attacks.
Take a hike.

My flatulance, or lack thereof, is not a matter I care to discuss in a public forum. And it's not a personal attack, just a comment in general on the Buchanenites. Some people in this country, and on this forum, will not be happy until we have an isolationist theocracy in place, and Pat seems to be their neo-messiah. If you choose to take it personally then I suppose that is your right.

And as for taking a hike, hunting season is over, so the chances of me wandering through the mountains are slim for the next several months. But you can rest assured that come next Oct I will be searching the hills for Bambi's grandad. I hear stories about a 10+12 prowling near Shasta. Sounds tasty if you ask me ...