Author: Steve Brown

State Senator Marlin Stutzman DID have the home field advantage. The Indiana Republican US Senate candidate also won the straw poll at the Kosciusko County Tea Party debate on Saturday. Stutzman’s legislative district includes a portion of Kosciusko County.

All five GOP hopefuls were on hand for the two hour debate. The event was standing room only. The venue…the Center Lake Pavillion holds 400 people. A crowd of perhaps double that showed up to see the event live…or watch it on television montiors outside.

In the overall straw poll vote (people both from Kosciusko County and from outside the county)…Tea Party organizer Richard Behney finished a close second followed by fellow Tea Party candidate Don Bates Jr. Former Congressman John Hostettler wound up in fourth. Former US Senator Dan Coats…who has gotten most of the national media coverage among the Republican candidate…finished in last in the straw poll.

Here are the straw poll results. They are broken down by Kosciusko County residents…and then an overall number:

KOSCIUSKO COUNTY:

Marlin Stutzman  39

Don Bates Jr.         20

Richard Behney    15

John Hostettler      7

Dan Coats                 3

OVERALL:

Marlin Stutzman   80

Richard Behney     76

Don Bates Jr.          47

John Hostettler      18

Dan Coats                 16

If Dan Coats was uncomfortable…he didn’t let on.

Coats was there today with his four fellow-Republicans at the Kosciusko County (IN) Tea Party debate for Senate candidates. To use a Hoosier hoops analogy…Coats was not “the home team”. In Tea Party circles…the former US Senator is often criticized as an “insider”…or as an “establishment candidate”. Both terms are uncomplimentary…intended to demean. Tea Party folks consider career politicians as the root of problems with the federal government…and Coats served in both houses of Congress.

So, there was Coats…facing a standing room only crowd of 400-plus at the Center Lake Pavillion in Warsaw. Both candidates with Tea Party credentials…Don Bates, Jr. and Richard Behney…were greeted with cheers. Coats got just polite applause.

During opening statements, the digs against Coats began. “Welcome back to the great state of Indiana,” said Behney. It was a reminder to the Tea Party crowd that Coats had left years ago to live in Washington.

State Senator Marlin Stutzman followed…and reminded the audience that as Senator…Coats had cast votes in favor of confirming future Supreme Court justice Sonia Sotomayer and for high-court justice Ruth Bader Ginsberg…both considered liberal jurists.

John Hostettler piled on. A former Congressman himself…Hostettler talked about “former office holders” who were friends of Senator John McCain who (during his 2008 presidential bid) proposed spending $300B on failing home mortgages. (Such spending is precisely the type of federal intervention Tea Party folks thing is beyond the government’s authority.)

Through it all…Coats kept his cool. He talked about his faith. He talked about freedom. He talked about eliminating federal ‘earmarks’. He talked about abolishing the US Department of Education. All met with approval of the Tea Partiers gathered.

The Tea Party movement in Indiana has developed into a significant force. Several of these state groups have targeted the Senate race a way to make their mark. Many admit to being dissatisfied Republicans…who see a chance to select the GOP nominee.

Afterwards…Coats told Fox News he was ready to talk to Hoosiers anywhere in the state…and that includes Tea Party folks.

Later this month…there is another Tea Party debate. This time in Huntington. To that event, Coats is the only candidate yet to confirm he’ll be there.

…yes…DEBATES…plural.

Today, the Kosciusko County Tea Party organization “Silent No More” holds today what will be the first in a series of debates for the GOP US Senate candidates. At least one more “Tea Party Debate” is to be held in Huntington later this month.

This is an unusual stance for a movement which is decidedly anti-political party and anti-establishment. Kosciusko County debate organizer Monica Boyer notes the group is non-partisan and will not endorse candidates.

We’ll post more later today on the debate here on the FoxNews.com LiveShots page.

There will also be a straw poll of the approximately 400 people inside on their preferences

The Republican challenger in Illinois’ 8th congressional district contest lost his Evanston condominum in foreclosure. Here’s the Daily Herald front-page story on Joe Walsh who reportedly launched his bid for the House seat the same month the condo was foreclosed on:

http://www.dailyherald.com/story/?id=363113

Walsh is pitted again Democrat Melissa Bean. The incumbents congressional office and re-election campaign had no comment about the Walsh story.

Brad Ellsworth says yes, he has spoken with Senator Evan Bayh this week.

Did Bayh ask Ellsworth to run for the Senate?

“He asked me to consider it,” says Ellsworth.

This is the only known effort by Bayh to encourage an individual into the race for the Senate seat he is abandoning. Monday, Bayh made the announcement that he would not seek a third term. It caught Indiana Democrats and Republicans by surprise.

Bayh is well-liked in Indiana, had better than $13-million dollars in campaign cash raised and was widely seen as a likely winner in November. He had won statewide election five-times (once for Secretary of State, twice for Governor and twice for Senate) as a centrist Democrat in a Republican-leaning state.

Bayh’s move left no time for other candidates to get on the May 4th primary ballot. It will be the job of the 32-member State Central Committee of the Indiana Democratic Party to select a replacement candidate. However, the committee must wait until after the primary to make its choice.

Daniel Parker who’s the state party chairman says, “The person who is probably ultimately nominated is probably gonna look, from a record standpoint,  lot like Senator Bayh.”

That again sounds like Ellsworth who is generally viewed as a moderate Democrat. He represents the 8th district in conservative Southern Indiana. Ellsworth is pro-gun rights and pro-life. Before getting elected to Congress in 2006, Ellsworth was the highly visible Sheriff of Vanderburgh County. A handsome man, local female TV reporters privately referred to Ellsworth as “Sheriff Dreamy”.

Ellsworth is not the only Democrat interested in Bayh’s seat. Hammond Mayor Tom McDermott says he’s interested in the Senate nomination…and 9th District Congressman Baron Hill is frequently mentioned as a possible contender Hill has not been able to be reached for comment because this week he’s abroad visiting American troops.

The Republicans have a potentially contentious primary on their hands. Five candidates include a former US Senator from Indiana, Dan Coats.  When Dan Quayle became Vice President, Coats was appointed to the Senate seat and won re-election in 1994.  Coats did not run again in 2000.

Other Republican contenders include Former Indiana Congressman John Hostettler who lost his US House job when Ellsworth defeated him in the 2006 contest. There is also first-term State Senator Marlin Stutzman, financial adviser Don Bates Jr. of Richmond and businessman Richard Behney of the Indianapolis suburb of Fishers.

On his way into a town hall meeting, Rep. Brad Ellsworth finally ended the speculation by confirming that he would run for US Senate. Ellsworth will be seeking the seat currently held by Sen. Evan Bayh, who surprised the political world by announcing Monday that he would not be running for a third term.

(more to come)

KY US Senate Race: Rand Paul’s Air Defenses

For the second time this month…Republican Senate candidate Rand Paul is taking to the airwaves.

In both instances, the ads address a criticism aimed at Paul by detractors and his chief primary opponent Kentucky Secretary of State Trey Grayson.

Here’s the Associated Press story on Paul’s newest radio ad:

“Paul takes his Senate campaign to Christian radio

FRANKFORT, Ky. (AP) — Republican Rand Paul is taking his Senate campaign to Christian radio in hopes of winning the support of Kentucky’s most ardent social conservatives, many of whom choose political candidates based on their stand against abortion.

Paul calls abortion “an abomination” in a political ad that will begin airing on Monday. He goes on to say he would vote for any law or constitutional amendment that would stop it.

Campaign manager David Adams said the ad will run on Christian radio stations across Kentucky beginning Monday, following a trend among Southern politicians who are increasingly tailoring messages to the GOP’s churchgoers.

The ad comes on the heels of claims by Republican opponent Trey Grayson that Paul doesn’t oppose abortion. He has made the accusations in stump speeches and debates in recent weeks.”

Grayson has charged Paul is not 100% pro-life. That’s a serious charge in Kentucky politics were pro-life stances are common among both Republicans and Democrats. It’s one of a list of issues Grayson says will doom Paul in the general election…if Paul were to win the primary.

Paul says the charge is baseless…and touts his endorsement of the Concerned Women of America as proof of his pro-life credentials. CWA is a conservative group which is very much pro-life.

The new radio ad goes farther than Paul has gone recently on the issue of abortion. Earlier this month, Paul was the first candidate to air a TV ad. The spot defended Paul’s position against bringing Guantanamo Bay detainees to the US for civilian trial. This in apparent response to a partial quote used by Grayson repeatedly supposedly indicating Paul was open to simply returning the suspected terrorists to the nations where they were captured. Paul has insisted Grayson has misquoted him.

Michele Barks clearly remembers her first day of work at GM’s Delta Township plant near Lansing, Michigan back in January.

“It was snowing heavily and 11 degrees and I froze,” says Barks.

Snow and cold temperatures are part of the adjustment for some 480 former Tennesseans who moved north to keep their GM jobs. As part of the massive re-tooling of the automaker, GM has to make some difficult decisions on how to emerge from bankruptcy as more efficient company.

That meant cutting plants. So, the Springhill Plant had to go. The Delta operation was already making two crossovers…the Buick Enclave and the GMC Acadia. GM managers decided moving another ‘sister vehicle’…the Chevy Traverse…to Lansing from Springhill would save the company money. Delta would add  and add a third shift. And even though the move shuttered a GM plant…the UAW bought in to the plan.

“I think the new GM business model makes sense,” says Local 602 president Brian Fredline, “you don’t have five plants building the same product, you have one plant on three shifts building the same product.  That reduces your overhead and it increases your profitability.”

Thanks to the federal ‘Cash for Clunkers’ and a recent uptick in the US economy, GM dealerships need more vehicles which looms as an indicator that the Delta plant is positioned well to keep all three shifts running.

“We’re seeing a little bit of recovery in the industry right now,” says Mark Reuss president of GM, “but more importantly we’re seeing unpredicted demand in popularity for our vehicles which is a really good sign.”

For the newbies at the Delta plant…making the move from Tennessee wasn’t easy…and the sometimes bitter Winter weather has taken some getting used to…but for Michele Barks knowing there’s a paycheck each week makes the adjustment easier to take.

Says Barks, “Right now, I’m just happy to have a job and I really don’t care what shift I work. I don’t prefer third shift but I’m just glad to be here and be working. That’s the main thing.”

In old television commercials…the Maytag Repairman was the loneliest working guy around because the company’s appliances were so durable they did not need repairs. Then, are US Secret Service agents in Chicago the second loneliest folks at work?

Maybe.

There is a detail of agents assigned to guard the Hyde Park home of the Obamas. On Election Night 2008, Secret Service moved into the neighborhood to protect the Obama residence. Cement barricades went up. Surveillance cameras appeared. Signs were posted warning that a walk down certain streets would make you subject to a search.

It’s understandable. Americans want their First Families protected. That means their house gets protection, too.

The bonus for the neighbors is…they now live in one of the most secure areas in the country.

We ran into neighbor Dale Charletta while he was walking his “Hyde Park poodle”…the local nickname for a Rottweiler.

Thanks to having the President nearby Charletta says, “This became the lowest crime district in Chicago. From medium crime to almost none.”

Another neighbor, Robert Taylor chimed in, “They don’t let any suspicious behavior go on very long. They will tell you you need to stop that.”

The ‘they’ Taylor refers to are the Secret Service agents.

And as the name implies, the agents are rather secretive about what they do. We called to ask some questions about generally what is done to make sure that the Obama home has the same level of protection as the White House. We were told that we should “go have a look for yourself”.

So, we did.

Three minutes after we arrived…just outside the secure area…an agent approached. He asked who were were and what we were doing. The agents also reminded us to stay across the street from the secure perimeter.

But that might have been as busy as that agent was in some time…because the Obamas haven’t been around.

Their last overnight visit was a year ago. The First Family flew back to Chicago right around Valentines Day 2009 for a brief visit home. The President and First Lady hit the town…going out for a romantic dinner for two at one of their favorite restaurants.

Since then, the President made an un-scheduled one-hour return to the house last July while in the city to attend a pair of fund-raisers.

That’s it.

The rest of the time the Obama home has been un-occupied…except of course for the Secret Service agents keeping watch.

It doesn’t sound that busy or exciting. To be honest…to this reporter…it sounds down right dull.

But it could be worse. They could work in the Maytag repair shop. Watch reaction here..

Mica Sims is an interesting story. She was a Lexington mom…who voted regularly in November…but that was it. Then she got curious about politics…started writing about politics…and now is a Tea Party activist. With some help from photographer Robert Lee…here’s my interview with Mica and how she became a Rand Paul supporter.

Republican Senate candidate in Kentucky Rand Paul insists he was not calling Hal Rogers an “errand boy” Monday night.

It was at the McCreary County GOP’s Lincoln Day Dinner where Dr. Paul (eye surgeon) took aim at wasteful Washington spending…and pronounced it a bi-partisan disease which has led to record federal debt.

“The system of pork barrel spending is what got us into this mess,” said Paul. There was stirring among the Republicans gathered…but no applause.

Paul continued: “We have legislators we sent to Washington who think their job is to be an errand boy or an errand girl for us…and grab as much federal money as they can get and bring it back.”

Sitting at the table closest to the podium was Hal Rogers…CONGRESSMAN Hal Rogers. The 5th District Republican who went to Washington the same year Ronald Reagan did…1981. Rogers is a prolific procurer of federal dollars (aka ‘pork’). Last year alone…according to Citizens Against Government Waste…Rogers hauled home $80-million dollars in pork.

So was Rand Paul CALLING OUT Rogers?…in Rogers’ own district?…within shouting distance of the Hal Rogers Parkway?…fingering Rogers for being part of the spend-aholic DC crowd?…with Rogers SITTING RIGHT THERE?

“No,” says Paul, “I try not to refer to individuals in particular…but…if…if…they…if the message is coming to ’em…they should be listening…”

I ask, “If the shoe fits…”

Paul responds, “Yup.”

THIS is the tenor of the Paul campaign. Vowing not to be afraid to lose…Paul is running a call-it-as-he-sees-it offensive on Republicans who’ve strayed from fiscal conservatism. He is anti-waste…anti-tax…anti-bailout…anti-TARP…anti-Stimulus. He gets that from his dad. Paul is the son of the nation’s most famous Libertarian…Congressman and former Presidential candidate Ron Paul.

The younger Paul has tapped into a chord of discontent…call it an anti-establishment vibe in voters…especially among Tea Party members. Not surprisingly…Tea Partiers are pretty fond of Paul.

“The bail-outs? Half the Republicans voted for the bail-outs. We don’t need more Repulicans. We need more Conservatives,” says Mica Sims…mother…blogger and Lexington Tea Party organizer. After talking with all the GOP candidates for Senate…she decided to back Paul.

“I KNOW he’s a fiscal conservative,” says Sims.

Getting back to McCreary County…after Paul all but called Hal Rogers an un-repentant part of Washington’s budget woes…Trey Grayson stepped to the mic.

Grayson…Kentucky’s two-term Secretary of State acknowledge there is discontent among Kentucky voters. The anti-establishment feeling is out there. But on this occasion…Senate candidate Grayson did what many would say is the smart political thing. He passionately defended Rogers.

Grayson refered to “one of my opponents”…but it was clear this one was lobbed at Paul:

“When he’s calling out career politicians…he’s calling out Hal Rogers and Mitch McConnell…and let me tell you one thing. Hal Rogers and Mitch McConnell are part of the solution in Washington. They are not part of the problem!”

A standing ovation followed.

The only Republican more popular than Hal Rogers in Kentucky’s 5th district…might be Mitch McConnell. It was an apt move by Grayson. Rogers and McConnell can mobilize a lot of votes come primary day…and Grayson seems likely to get their help.

Rand Paul doesn’t care. He’s calling them as he sees them…no matter which Republican’s feathers get ruffled.

“If we don’t believe in bailing out private businesses…we shouldn’t be voting for it. If we don’t believe in government ownership of banks…we should be voting for it,” says Paul.

Meanwhile in McCreary County…where Rogers and McConnell are legends…and Grayson is very well liked…a curious thing has settle in to the area…that anti-establishment feeling among folks.

Tim Gorder…chairman of the McCreary County GOP says,”They’re tired of the ones that’s already been in office. It’s gonna be close between Rand and Trey…I figure…as of right now.”

Tonight with the primary returns still coming in…representatives of the Democratic Senate Campaign Committee, Organize for America and Senator Dick Durbin’s office gathered in Chicago to start looking ahead to a Giannoulias general election campaign. This was long before any concession or victory speeches.

A democratic strategist tells Fox News Alexi Giannoulias is ready to emerge from the Democratic primary campaign a much strong and battle-tested candidate. It was noted by this strategist Giannoulias withstood having the White House ‘close the door on him’…opponents who went negative early…and a battering at the hands of the media about the Giannoulias family business Broadway Bank. Through it all…it appears Giannoulias will eek out a victory over David Hoffman and the rest of the primary field.

This same veteran strategist predicts in the general election ahead…Republican nominee Mark Kirk will whither under similar scrutiny.

Kirk participated in few debates down the stretch in the primary campaign. That’s largely because month after month of polls showed Kirk’s opponents un-able to reach double-digits percentages in voter support.

The democratic strategist says the general election will prove Kirk has a “glass jaw”…who cannot stand up to the kind of scrutiny Giannoulias has already survived.

Tonight’s Illinois primaries will go a long way towards determining who will be the next person elected to be governor of Illinois.

Pat Quinn has the job now. As Lieutenant Governor, Quinn inherited the governor’s chair after his boss, Rod Blagojevich was stripped of the job following the January 2009 Impeachment Trial. (The trial was the first the public got to hear some of the wiretapped phone conversation which will be a key focal point of the federal government’s corruption case against Blagojevich.)

Now, Quinn wants a full term and fellow Democrat and State Comptroller Dan Hynes stands in his way. Both candidates see tax increases, including income tax increases, as the only way to avoid dramatic state service cuts.

That’s because the estimated state budget deficit is around $13-billion or roughly half of the state’s current operating budget. The Quinn/Hynes contest was a statistical tie in polls leading up to Primary Day.

The Republican primary field is, again according to the polls, knotted up with three candidates. Jim Ryan is the former State Attorney General who ran for Governor eight years ago, losing to Blagojevich. There is also Andy McKenna, former Illinois State GOP Chairman, and State Senator Kirk Dillard, who is endorsed by the last elected Governor NOT to be indicted, Jim Edgar.

All three GOP’ers – Ryan, McKenna and Dillard propose a cut-the-budget-first solution to the massive budget deficit.

Both primary contests are tight…too close to call. But the Illinois Republican Party believes in this race…whoever wins their primary will have a distinct general election advantage.

You could call it the “Blagojevich Advantage”.  Blagojevich’s corruption trial is set to begin this Summer. There is talk Blagojevich’s defense team may ask for delay to late Summer or early Fall. Whenever it begins, it will be front page stuff, reminding voters again of the reign of this scandal-plagued Democratic administration.

Combine that with the general anti-incumbent sentiment found among voters these days and it may provide an opportunity for Republicans to capitalize in a state where now there are no GOP’ers in any statewide elected office.

It is the classic campaign photo/video; “the candidate voting”.

The candidate shows-up all smiles at his/her polling place. The media has been tipped off well in advance…and they are there to capture the candidate voting for him/herself…with the spouse and maybe their adorable children in tow.

Campaign workers may make sure the candidate knows the name of the polling workers he/she may have to report to. There may even be a few backers asked to come to polling place at the same time for an allegedly spontaneous moment of someone yelling, “You got my vote!”

Aside from the victory or concession speech…it is among the last bits of stage-craft for a candidate…and among the easiest to pull off.

David Hoffman followed the standard ‘script’. This morning, the Democratic candidate for Illinois’ US Senate seat showed up at his polling place at Chicago’s Pritzker School. Hoffman walked in with his wife, Monique…and son, Grayson. The not-quite-2-year-old announced to reporters, “I voted.”

A warm and fuzzy moment that might get replayed all day.

The voting photo op for Democratic front-runner Alexi Giannoulias never happened…which is too bad for him.

The primary contest…according to polls…has tightened in recent weeks. Giannoulias has been dogged by a series of bad developments in the family business…Broadway Bank…where he worked before getting elected State Treasurer.

A good photo op of Giannoulias voting would at least give the candidate a chance to change the recent video loop of Giannoulias…somber faced…answering serious questions about the troubled family bank.

But Giannoulias voted early. That denied him the classic voting photo op. Instead…the Giannoulias campaign sent out an e-mail alert  that the candidate this morning would be at polling place on the Northwest Side of Chicago…to greet voters.

Fox News had a crew there waiting. The Chicago Tribune had a photographer in place, too. A Giannoulias campaign staffer greeted the media…and went about the business of coordinating the event. That was made more challenging by the lack of voters at the polling place.

Then, the Giannoulias campaign staffer…apparently…left…unannounced.

About 15-minutes later…Fox News correspondent Peter Doocy contacted the staffer by phone. The staffer disclosed the event…had been cancelled. The candidate was not coming and the staffer was on the way to another assignment.

It has not been a good couple of weeks for Giannoulias…and today’s not off to a good start.

Just in from the Strickland campaign:

“COLUMBUS–Today, Governor Ted Strickland’s campaign announced that he has nearly $6.2 million cash on hand going into 2010. Not only does Strickland’s campaign have more cash on hand than any Ohio governor in history at this point in the campaign, but he also has more than any other Democratic Governor up for re-election in the nation.”

Strickland faces former-Congressman…former-Fox News Channel Host John Kasich (R)…who is expected to be also be well-armed financially for the general election campaign ahead.

It’s THE subject of  political chatter in Illinois. So…it’s hard to understand how Senator Dick Durbin has missed the front page stories…Chicago talk-radio…and all the television news coverage about Broadway Bank…it’s financial troubles…the FDIC consent order…and how all of it has become a BIG problem for Alexi Giannoulias.

Broadway Bank is the Giannoulias family business…founded by his late father. Giannoulias worked at the bank as a loan officer before getting elected State Treasurer. Questions about bank’s recent money-losing ways have dogged the Giannoulias…who has long been the front-runner in the Democratic Primary contest.

But catch this exchange this morning in Chicago between Fox News Channel producer Ruth Ravve and Senator Durbin…because he says he’s not up to speed on the hottest story in the biggest primary race:

Ruth: “How will the banking scandal affect Alexi Giann’s campaign?”

Durbin: “I don’t know anything about that, I’m sorry”

Ruth: ”Really? You must have read about it in the papers or seen it on TV?”

Durbin: (shaking his head no)  “I voted, I was an early voter.  I’ve not endorsed.  I leave it up to the voters of the state to make that decision”

And then Durbin walked away.

…ordered to pour millions of dollars back into Broadway bank…in 90-days. It is somber news for the bank…and a serious blow to the Democratic front-runner in Illinois’ U-S Senate race.

With the primaries just five days away…Alexi Giannoulais now must deal with a crisis at Broadway bank…the family business was founded by his father…and where Giannoulias worked before getting elected State Treasurer.

On Tuesday…Broadway Bank entered into a consent decree with the FDIC…to essentially right the bank’s finances. In recent years…the bank went from a successful community bank making over $49-million in 2007…to a $13-million dollar loss in 2008…to losing $27+ million dollars in just the first nine months of 2009.

During that same time period…the bank paid out dividends totaling $86-million. The Giannoulias campaign has insisted the dividends were ordered as a part of father Alexis Giannoulias’ will. (He died in 2006.)

Now, Broadway Bank has agreed to re-capitalize…or put money back into the bank. Until federal regulators are satisfied the bank is financially stable….Broadway Bank is ordered not pay any more dividends.

Broadway Bank was reportedly heavily invested in real estate development deals. When the US housing market fell…the bank’s fortunes seemed to have plunge with it.

Giannoulias’ opponents in the Democratic primary have pounced the bank’s flagging finances. Cheryle Jackson on her campaign website says, “I am calling on the Treasurer to do the honorable thing and withdraw from this race.”

Michael Powell…campaign manager for David Hoffman…in a statement says: “(The Giannoulias) family’s decision to take $86 million in dividends for themselves, has caused the bank’s collapse, and a likely bailout and takeover by the FDIC.”

Polling in the Democratic primary for the Senate seat (once held by President Obama) has consistently shown Giannoulias leading.

Giannoulias Family Bank Looms Larger in Illinois’ Democratic primary for the US Senate seat once held by President Barack Obama.

State Treasurer Alexi Giannoulias, the front-runner in the contest, has been consistently dogged by questions about Broadway Bank.

It is the Giannoulais family business and just a few years ago was among the best performing community banks in the country. But Fox News has learned Broadway Bank is getting public relations help from the global powerhouse firm of APCO Worldwide. (More about the firm in a bit.)

When the US housing market hit the skids…Broadway Bank (which invested heavily in development deals) took a serious hit. Broadway went from making $49-million dollars in profit in 2007…to losing over $27-million dollars through the the first nine-months of 2009. (2009 year-end figures from Broadway are not in yet. More too on that in a bit.)

At the same time the bank went from money-maker to money-loser…it was paying out tens of million in dividends (or profits) to bank stock-holders. During the same three-year period (2007-2009)…FDIC records indicate Broadway Bank paid shareholders $86.3-million.  Giannoulias acknowledges he owns some of that stock. Giannoulias says he owns only 4% of the shares. If true…Giannoulias potentially stood to gain some $3,450,000 in dividends.

Not only is it likely Giannoulias profited from a bank now hemmoraging money…he also worked there. Before getting elected State Treasurer…Giannoulias was a bank officer.

When asked about the money he and other family members may have made in dividend payments from Broadway…Giannoulias consistently says, “You’ll have to ask the bank.”

We did. Fox News asked for the 2009 year-end statement on a number of occasions…and when the report would be submitted to the FDIC. Our questions…left on voice mail with bank officer Kaushik Pancholi were not answered.

When we aired our original report Monday on the IL Senate race…the Giannoulias campaign insisted our numbers were wrong. An e-mail from the Giannoulias campaign stated Broadway share holders were only paid $70-million dollars.

We replied with the figures we originally reported…provided the totals…and where we found them…which again was on documents submitted to the FDIC by Braodway Bank.

The next response we got was from Tilden Katz at APCO Worldwide. In an e-mail exchgange…Katz indicated he was representing Broadway Bank and he pointed out:

“As (Chicago) Crain’s reported in September, the parent holding company issued $70 million in dividends to shareholders in 2007 and 2008 all of which were reviewed by accountants and approved by regulators.  Additional money from the parent holding company was used to pay off a loan.”

We are still awaiting more information about this loan Broadway Bank reportedly paid and who loaned the money to the bank in the first place…but the appearence of APCO Worldwide is noteworthy.

APCO is headquartered in Washington with 31 offices around the globe…including Chicago. Its clients include non-for-profits organizations, governments, industry associations and corporations. One of APCO’s specialties listed on its website is ‘crisis management’.

Now…if Broadway Bank is in ‘crisis mode’…it may not emerge until after the February 2nd primary.

FDIC spokesman David Barr explains that the year-end balance statements (known as ‘The Call Reports’) are not due from banks until 30-days after the quarter ends. That’s January 30th…a Saturday. The next business day for the FDIC would be Monday, February 1st. Barr says typically…it takes a couple of business days to get Call Reports on-line for the public to view them.

A couple of days later in this case would be February 3rd…the day AFTER primary voting in Illinois is over.