Bloomberg News

Cain Earned $900,000 From Corporate Boards, Radio Show

October 27, 2011

(Updates with Republican primary poll standings in seventh paragraph. For more campaign coverage go to ELECT.)

Oct. 27 (Bloomberg) -- Herman Cain was paid $900,657 last year as a corporate director and radio commentator, according to his personal financial report released today.

Cain, who is seeking the Republican presidential nomination, received $359,008 from Whirlpool Corp. of Benton Harbor, Michigan, including taking stock options; $202,500 from farm equipment company Agco Corp. of Duluth, Georgia; and $120,000 from Hallmark Cards Inc. of Kansas City, Missouri.

He also received $53,966 from Godfather’s Pizza of Omaha, Nebraska, where he reported a stake valued at between $100,000 and $250,000. Cain formerly was chief executive of the company. Disclosure law allows candidates to report their holdings in broad ranges.

His Atlanta-based radio program earned him $165,183 last year. Another Republican presidential candidate, former Pennsylvania Senator Rick Santorum, was paid $239,153 by New York-based News Corp. for appearing on Fox News, $83,999 to host a radio talk show and $23,000 to write a column for the Philadelphia Inquirer.

Cain reported that his motivational speaking company, T.H.E New Voice Inc., was valued at between $50,000 and $100,000, though it did not have any income. Cain’s campaign committee reported on Oct. 15 that it had paid his company more than $64,000 for books he wrote, airfare, lodging and supplies, Federal Election Commission records show.

Campaign Loan

He reported holding more than $3 million in assets, including the $675,000 he lent his campaign committee.

Cain took the lead in the race with the backing of 24 percent of Republican primary voters, compared to 20 percent for former Massachusetts Governor Mitt Romney, according to a Fox News poll released Oct. 26. The nationwide poll had a margin of error of plus or minus 5.5 percent.

Cain reported raising $2.6 million from July to September, with $1.5 million of that in donations of $200 or less. Including his second-quarter fundraising, he has brought in a total of $4.7 million for his campaign. He had $1.3 million in the bank as of Sept. 30.

--Editors: Jeanne Cummings, Justin Blum

To contact the reporter on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net.

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net.


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