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Rating:The Globe Sharpens its Axe Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 14, 2005

The Globe Sharpens its Axe

by: Sean Hanna, Editor in Chief

Boston Globe columnist Steve Bailey has penned a "love letter" to Sean Healey and it is a safe bet that Healey was less than thrilled after he read it this morning. Healey, who heads Affiliated Managers Group (AMG), is the husband of Massachusetts Lieutenant Governor Kerry Healey.

Bailey takes aim at Mr. Healey's use of his asset management industry fortune to finance his wife's political career. She is expected to next run to become governor of the Bay State.

"Now Healey wants to buy an election for his wife," writes Bailey before sarcastically adding that he thinks "it is sweet." In her last run, the Healey's spent $1.8 million of their own cash on her campaign. Mrs. Healey has no source of income and declines to take a paycheck from the state.

Bailey also snidely questions the source of Mr. Healey's wealth and takes aim at AMG's practice of putting prominent state Republicans on its payroll. Darrell Crate, Massachusetts Republican chairman, serves as AMG's chief financial officer and former governor William Weld served on AMG's board until last year.

"It is a small, small world, and the gracious mansion on Beverly's 'Gold Coast' that AMG built with the help of a state tax break is an appropriate symbol of just how small -- read: wired -- this exclusive club is," he writes.

To make sure he leaves no stone unturned, Bailey also dredged up AMG's use of a $1 million tax credit when it built its headquarters.

"Just wondering: Did that tax break go for the locked gates out front or the tennis court out back?" shoots Bailey.  

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