NM Senators disclose investments
Sen. Pete Domenici, R-N.M., earned $701 in royalties last year from his book, "A Brighter Tomorrow: Fulfilling the Promise of Nuclear Energy."
That's just one of the nuggets of information to come out of Senate Financial Disclosure Forms, released Friday and summarized by the Associated Press.
According to the AP summaries, Domenici and Sen. Jeff Bingaman, D-N.M., each had $165,200 in income from their Senate jobs, while Domenici reported $165,901 in total earned income factoring in the book royalties.
Both have major assets in New Mexico, according to the summaries.
Bingaman has Santa Fe property valued at between $500,000-$1 million and half interest in two tracts of land in Alamogordo valued at between $15,001-$50,000 each. Bingaman reported rent on the Santa Fe property as a major source of unearned income [$5,001-$15,000] and a mortgage on the Santa Fe property [$500,001-$1 million] as a major liability.
Bingaman also reported investment in a North Carolina-based technology venture capital fund [$100,001-$250,000], assets in Janus International Growth Fund [$50,000-$100,000] and Aircell Inc. preferred stock [$15,000-$50,000].
Domenici reported as major assets a real estate partnership that owns commercial property in Albuquerque [$1 million-$5 million]; a family real estate partnership with property in Albuquerque [$250,000-$500,000]; a basement rental apartment in Domenici's personal Washington, D.C., residence [$100,000-$250,000]; and PNC Bank accounts [$100,000-$250,000].
He reported as major sources of unearned income rent from the family partnership [$50,000-$100,000]; rent from the real estate partnership [$15,000-$50,000]; basement apartment rent [$5,000-$15,000] and bank account interest [$2,500-$5,000].
Domenici's major liabilities were a mortgage of $1 million-$5 million on developed land and a building, held by American United Life Insurance Co. in Indianapolis, with an interest rate of 5.94 percent; and a mortgage of $500,000-$1 million on undeveloped land, held by Los Alamos National Bank at an interest rate of 6 percent, which was paid off on March 19, 2007.
In a narrative accompanying Bingaman's summary, the AP mentioned the volume of his report:
Bingaman's 100-page report contains multiple investment accounts owned by his wife, Anne Bingaman, or held jointly. Anne Bingaman owns a promissory note and an ownership interest in the Washington-based teleconferencing company, Soundpath Conferencing Services LLC, which is valued at more than $1 million.
Among the liabilities was $10,000-$15,000 in check overdraft protection with Citibank in Washington, D.C.
Domenici's narrative did not comment on his report length:
Domenici's primary investments are in real estate in his home state. He is a partner in three real estate investment enterprises. Domenici is a director of the Nuclear Threat Initiative, a group that works to control weapons proliferation, that is co-chaired by his former Senate colleague, Sam Nunn of Georgia. Domenici also reported a book publishing arrangement with publisher Rowman & Littlefield for the book "A Brighter Tomorrow: Fulfilling the Promise of Nuclear Energy." He reported $701 in royalty fees last year from that arrangement.
One striking aspect of the two New Mexico senator's summaries is the similarity of their titles: Bingaman is Chairman, Senate Energy and Natural Resources Committee, while Domenici (a former chairman) is Senior Republican, Senate Energy and Natural Resources Committee.
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