Richardson pulls out of bid for commerce secretary

-A A +A
By Carol A. Clark

Rocking the airwaves and sparking a barrage of Internet chatter Sunday, Gov. Bill Richardson bowed out of consideration for U.S. Secretary of Commerce.

Citing the investigation into a California firm's business dealings with the State of New Mexico, which could drag on for months, along with the gravity of the economic situation facing the nation, Richardson said he could not ask President-elect Barack Obama "to delay for one day the important work that needs to be done."

News came to light in December that a federal grand jury was looking into accusations that Richardson’s administration gave lucrative contracts to CDR Financial Products Inc., of Beverly Hills. According to published reports, CDR President David Rubin gave some $100,000 to two political action committees controlled by Richardson in 2003 and 2004 and another $10,000 to his 2005 re-election campaign.

Since August, federal investigators have been specifically examining how CDR obtained two consulting contracts worth some $1.4 million to advise the state on a $1.6 billion bond program to pay for state transportation projects.

Grand jury proceedings began after an FBI probe in which investigators interviewed former and current New Mexico Finance Authority officials and sought documents from the authority about the 2004 contract with the firm.

If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
Street Address:
(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:

Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday