As governor, Moody would keep hold of rapidly growing business interests
Updated:
Republican gubernatorial hopeful
Next to the capital's high-crash
If elected, Moody said he does not see a reason to sell off any of his increasingly valuable company shares or the underlying real estate, worth roughly
State law would not require a governor Moody to relinquish his stake in such businesses, which Moody said expanded through the recession because of prudent savings and streamlined state permitting processes.
Only
"In '08, '09 and '10, when the economy crashed, we grew at a faster rate then than ever before. Why? Because we had the money to invest. Real estate prices were down, permitting was quick and streamlined. People were more business friendly at that time," Moody said during a forum hosted by the
The company has added six locations since 2011, according to the company's website.
Accordingly, the value of
Moody's stake in Moody's
But that company does not own most of the land or buildings where
Property records show
Moody's
"It's an investment," Moody said.
In an interview after the
Moody said that his brother
"The whole purpose of the disclosure report was to provide extra insight, in what he thought was fairness to the other candidates, and to disclose whether the candidate has business interests with the state that could be a major conflict of interest," Littlefield said.
State law does define conflicts of interest for legislators, including situations "[w]hen a Legislator or a member of the Legislator's immediate family has or acquires a direct substantial personal financial interest, distinct from that of the general public, in an enterprise that would be financially benefited by proposed legislation."
[Moody declines to release tax returns]
State law also defines abuses of power for lawmakers, including "use or disclosure of confidential information obtained because of office or position for the benefit of self or another."
Beyond environmental permitting for businesses, Moody's empire has other dealings with state regulators, according to property records.
For example, in March, state environmental regulators cleared the way for Moody's real estate company to buy a contaminated parcel on
The property is currently listed by
Regulators approved Moody's company for such protections, as long as it abides by conditions including not moving soil off-site during redevelopment without the
Moody's business with the state has grown, too. The state's Open Checkbook site shows state agencies paid
The disclosure noted, with an asterisk, "we appreciate the business."
Maine Focus editor
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