Here is a little something from the South Bend Tribune’s Business Section. Apparently after Warsaw based Zimmer Holdings, an orthopedic manufacturer, negotiated itself out of trouble last year, U.S. Attorney Christopher Christie appointed former Attorney General John Ashcroft’s firm to “monitor” the company. Specifically:
Under the contract, Ashcroft’s firm will monitor Warsaw-based orthopedics manufacturer Zimmer Holdings as part of an agreement the corporation entered into to settle a fraud investigation by Christie’s office.
The problem with this appointment? Well, no one knows what this monitoring is to include and how Ashcroft’s firm was selected. So what does the firm receive for this non-specific monitoring? Answer: “The deal is worth between $27 million and $52 million over 18 months”.
U.S. Rep Linda Sanchez (D-Calf.) is looking into the deal and “U.S. Rep. Frank Pallone, D-N.J., has also introduced a bill that would increase oversight and establish specific rules for such appointments”. A hearing before a subcommittee of the House Judiciary Committee is scheduled for next Tuesday, according to the story.
This story has the potential to get real interesting real quick as we get more details into this seemingly sweetheart deal.