Jeb Bush finds work

By Laurie Bennett

September 24, 2009 at 10:58am

We wrote earlier this week about the largesse awaiting a four-star general upon his retirement from the Army.

We turn today to another genre of public official-turned-businessman: former governors who are brothers and sons of former presidents, who may or may not seek higher office.

Jeb Bush, who ended his job as Florida governor in 2007, now holds positions with six companies, including his own consulting firm, Jeb Bush and Associates.

Jeb Bush
Jeb Bush

Two of the companies - Tenet Healthcare and Rayonier Inc. - are public. Tenet, which operates hospitals around the country, paid Bush $241,046 last year in fees and stock. Rayonier, a forest products company, paid him just $16,375. However, Bush didn’t join Rayonier until Dec. 1, 2008.

In an arrangement that neither the employer nor the employee discussed publicly, Lehman Brothers hired him as a private equity adviser in 2007.

Bush interacted with business leaders not only as governor and a member of the Bush family, but in his previous position as Florida’s secretary of commerce. His web of connections helped lead to board positions with private ventures as well as public.

He is also a director of

  • Angelica Corporation
  • CNL Bancshares Inc.
  • CorMatrix Cardiovascular, Inc.

Bush commands five figures for speeches, of which there are many.

He also founded and chairs two nonprofits - the Foundation for Excellence in Education and the Foundation for Florida’s Future. According to 2007 tax returns, the most recent publicly available, he collects a salary of just $1 a year from each organization.

Bush’s reported worth when he left the governor’s office was $1.3-million, according to the St. Petersburg Times. He declined a state pension.

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