San Francisco,Ca/ Fishing News - South Korean investors couldn't wait to close the deal on Star Kist Tuna, owned by Del Monte Corp. in San Francisco, Ca,, House Speaker Nancy Pelosi's home district.
In fact, they closed the $359M deal days after the Speaker added a $33M tax break earmark for American Somoan industries, where 75% of the work force is employed by Star Kist.
Coupled with a $2.15 per hour exemption from the previously sponsored Democratic Minimum Wage Bill, also granted by Pelosi for Del Monte, it sure shows that the Speaker of the House knows how to plan ahead to ensure a sweet deal.
The unknown money factor in the deal is how did Paul Pelosi, the Speaker's husband, and mover and shaker in the SF real estate market, benefit. Rumors are circulating that he held over $17M in Del Monte/Star Kist stock. Just another Democrat being bailed out? Nice Finder's fee Paul!!
North Korean owners said they would be moving Star Kist Headquarters back to Pittsburgh, Pa, and would employ around 100 people. The move was facilitated by House Appropriations chief, Rep. John Murtha who did the deal in the Congressional men's room after making sure the FBI wasn't taping him again.
A spokesman said the Congressman and the Speaker had worked out the trade earlier in closed session and it was a "win-win" for everyone involved in the scam except for those picking up the tab.
GOP spokesman said McCain and Palin would soon be introducing "Charlie The Tuna" as a talking point on their campaign tour.