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Vinod Gupta Gets Generous With Other People's Money

What is entrepreneur Vinod Gupta thinking? First it is reported that the InfoUSA CEO has been funneling millions of dollars to Bill Cinton, supposedly for "consulting." Gupta paid the good ol' boy $.2.1 million, and has promised him an additional $1.2 million. Gupta has also been flying the Clintons around in his corporate jet.

Now we find out from Newsmax that Gupta has placed Paul Pelosi, son of Nancy Pelosi, on his payroll to the tune of $180,000 a year. What's strange about this is that--a) Pelosi is supposed to be a full-time employee but he already holds another job, as home loan office for Countrywide Loans in San Mateo, California, b) as a home mortgage loan officer, Pelosi would seem to have little knowledge or experience in the kid of database business that InfoUSA is, and c) Pelosi was hired as senior vice president on February 1, just a couple of weeks after Pelosi became speaker of the house.

"It's interesting, timing-wise," Paul Pelosi said. "I guess you always wonder why someone hires you, right?" Asked what exactly he does for InfoUSA, Pelosi says, "I'm very qualified at what I do. I work a lot of hours at it, and it's only been a couple months but in that short period of time I've been able to really work on some material projects which are coming forward." Which is basically a way of saying he does nothing.

Gupta is currently involved in a shareholder lawsuit which alleges that he misappropriated company funds for personal use and pet projects. In showering presents on these leading Democrats, Gupta apparently was not trying to get favors out of Hillary Clinton and Nancy Pelosi. It seems he just wants to get his picture taken with important people. If this is what you need to show the folks back home that you've made it, Gupta, do it next time with your own money.

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Mo Rocca appears on a bunch of shows, including CBS News Sunday Morning (with the indescribably wonderful Charles Osgood), The Tonight Show on NBC, and NPR's Wait Wait... Don't Tell Me! He's a sometime judge on Iron Chef and was featured on Telemundo's Amore Descarado. Last year he starred on Broadway in the 25th Annual Putnam County Spelling Bee. His expose "All the President's Pets" was published by Crown in 2004.



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News Bloggers

Mo Rocca appears on a bunch of shows, including CBS News Sunday Morning (with the indescribably wonderful Charles Osgood), The Tonight Show on NBC, and NPR's Wait Wait... Don't Tell Me! He's a sometime judge on Iron Chef and was featured on Telemundo's Amore Descarado. Last year he starred on Broadway in the 25th Annual Putnam County Spelling Bee. His expose "All the President's Pets" was published by Crown in 2004.

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