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Americans Elect Special Interest Funder: Kirk T. Rostron, Hedge Fund Operator


Special Interest. Noun. an individual, group, or corporation having a special interest in usually a particular part of the economy and receiving or seeking through political pressure special advantages from the government often to the detriment of the general welfare — usually used in plural — Merriam Webster Third New International Dictionary

Americans Elect, the corporation with aims to elect its own presidential candidate in 2012, insists that “None of our funding comes from special interests or lobbyists.”

Until this week, we’d have to take that assertion on trust, since the corporation has not filed financial disclosure forms that would make the identity of its funders public. Until now, the only donor to Americans Elect that could be identified was its sole initial donor, President, Director, CEO and Chairman, Peter Ackerman. Ackerman, who funneled $1.55 million of his private funds into Americans Elect before it stopped filing disclosure forms, is an executive of and/or holds a significant ownership stake in the food corporation FreshDirect, in the capital entity Crown Emak Partners LLC, marketing firm Emak Worldwide, and in the investment firm Rockport Capital. Each of these is a special interest. This single funding source alone gives us reason to doubt the veracity of Americans Elect’s “no special interest funding” claim.

And now there’s more. This week, Americans Elect’s donations collector, Piryx, quietly started publishing an incomplete list of those people who have given money to Americans Elect and have agreed to share their identity on Piryx’s “giving stream.” People who want to hide their financial backing for Americans Elect and people who have directed money to Americans Elect by means other than Piryx don’t appear on that list, so we can’t treat the Piryx list as complete or representative. Also missing from the Piryx list is any disclosure of the amount of money each person has given to Americans Elect: we could be talking about $10 gifts or $10 million grants.

Despite the appearance of this limited list via Piryx, there’s a lot of information that Americans Elect is still withholding from the American people about its financial activity. In this regard, Americans Elect is actually a step backward from all other political parties, which must and do disclose the names, addresses, occupations, employers, and dollar amounts of all contributions they receive above a small threshold. Around the country, Americans Elect is registering as a political party to reap all the benefits and ballot access — but it’s not playing by the rules for political parties when it comes to disclosure. For purposes of disclosure, it’s a 501c4 corporation, and even though it wants to arrange the election of your next president you don’t have the right to know who’s behind it.

Kirk T. Roston, hedge fund manager and managing partner of the Mt. Vernon Group, a capital investment firmDespite these limiting factors, we know enough to test the Americans Elect claim that “none of our funding comes from special interests or lobbyists.” If any donation to Americans Elect comes from special interests or lobbyists, then Americans Elect’s claim is untrue.

1101 Pennsylvania Avenue NW, home of The Mt. Vernon Group, a private capital investment firm in Washington DCWe’ve already documented one violation: Peter Ackerman, a man who has very particular special interests and who has funded Americans Elect. Here’s the name of another Americans Elect contributor with special interests, plucked from the Piryx giving stream: Kirk T. Rostron of Alexandria, VA. Kirk Rostron is a co-founder and managing partner of The Mt. Vernon Group, a private capital investment firm situated in a choice spot just four blocks from the White House at 1101 Pennsylvania Avenue NW, Washington DC. Rostron specializes in managing hedge funds, having done so previously at Merrill Lynch, Hovde Capital Advisors and HedgeCall.

As a hedge fund manager and managing partner of a private capital investment firm, Kirk Rostron has special interests in various aspects of American economic policy, from regulation to privatization to transparency to taxation. Curiously enough, of the seven areas of policy Americans Elect identifies as relevant, it overwhelmingly focuses on economic policy in its delegate process. Within the 64 policy questions Americans Elect has deployed to shape the selection of its 2012 presidential candidate, the largest subset — a full 17 questions — has to do with privatization, deregulation and taxes, fixating on policy issues in a manner highly compatible with the special interests of well-to-do private capital financiers like Kirk Rostron.

The question is not whether Kirk Rostron is a nice man. He may be a very, very nice man; I don’t know him. The question is whether Kirk Rostron has a special interest as defined straightforwardly in the dictionary — and it’s pretty clear that he does. It is not a credible act for Americans Elect to declare it does not take money from special interests in one breath and to collect money from Kirk Rostron in another. If Americans Elect wishes to maintain its credibility, it should disclose the size of the donation it received from Kirk Rostron, then return Rostron’s money in its entirety.


P.S. With Americans Elect rolling out a new version of its website this month, it has introduced a new catchphrase: "What's on Your Mind? Ask Us Anything!" They even say "we’ll do our best to reply as soon as we can." You'll notice that although Americans Elect says it will do its best to answer, it doesn't actually commit to answering the questions you ask. Indeed, although I've been asking Americans Elect questions for nearly a year I've yet to receive a single answer or reply of any kind from Americans Elect corporate headquarters.

But despite its record of not actually communicating, I'll take Americans Elect at its word and try again. Starting with this post, every time I write about Americans Elect I will ask Americans Elect a question directly through the two means it presents: 1) the online question form it has created, and 2) the e-mail address info@americanselect.org. If I receive an answer to my question, I'll post it in the comments section for you to read. If you don't see an answer from Americans Elect in the comments section, it's because Americans Elect hasn't given me an answer.

This post's question, submitted this evening to Americans Elect:

"Americans Elect declares that 'none of our funding comes from special interests or lobbyists,' but Americans Elect donor Kirk T. Rostron has special interests as a hedge fund manager and private capital investment specialist. How much money has Kirk Rostron contributed to Americans Elect, and when will Americans Elect refund that contribution?"

6 comments to Americans Elect Special Interest Funder: Kirk T. Rostron, Hedge Fund Operator

  • Bob

    Yes! Go, Jim. The archive you’re creating is impressive.

    I continue to marvel at the foolishness of Americans Elect. With the work you have done and documented, it is now impossible for them to amount to anything. At the moment, they’re obscure. But if there is any future rise in public awareness of Americans Elect, there will be a corresponding rise in the awareness of your work, even to the point that mainstream media will come knocking on your door. It’s shocking that Americans Elect doesn’t grasp this.

    • Thanks, Bob. I’m pretty sure that Americans Elect can do well, IF (as you point out in your comment below) it becomes what it says it is. That would require a pretty thorough transformation, but wouldn’t be impossible.

  • Bob

    I continue to mull it all over.

    Okay, but what if they do grasp this? What should their next move be? Very simply: to try actually to be what they say they are.

  • Pamela D.

    I do not see any problem with Americans Elect taking support from sources such as Peter Ackerman and Kirk Rostron, as long as the support is *openly and fully disclosed*. I recognize the libertarian-origin slant to the organization, but it is still orders of magnitude better than our current party organizations. If it results in an educational forum for development and improvement of ideas, solutions, and political action, isn’t that good? Maybe they’ll get a much better response for their money than they expected. (I doubt if Murdoch’s Republican Tea Party organizers realized they were going to end up with the rabid monster they produced.)

    Thank you for watchdogging, and I hope you get some response.

  • RH

    I agree on the question of transparency, Americans Elect needs to rise to the occasion in that regard, however, much of this article seems to me to be suffering from fallacious logic, specifically the ad hominem fallacy.

    I generally consider myself a social liberal, a fiscal conservative and a strong proponent of natural rights. I was honestly surprised by the breakdowns of the answers provided to their questions and if Americans Elect is intended to be a platform to advance deregulation of private industry, or promote special interests the answers of the people participating demonstrate to me at least, that such an agenda is going to backfire.

    That said, I think we need more ideas and more actual conversations in our political process, and providing the two primary parties with more competition (if they are able to do so) can only help in that regard.

    Right now, it seems to me that both the Democrats and the Republicans have more interest in preserving our nations major problems to use as campaign issues than trying to make things better, and both parties seem content to continue this path and try to split the electorate.

    I can’t see how bringing another voice into the discussion is going to hurt us.

    • That agenda will backfire if the delegates are in control. It will not backfire if the corporate boards of directors and advisors are in control. Read the bylaws carefully and you’ll see how firmly the corporate boards of Americans Elect are in control. This makes the makeup of the boards relevant to understanding Americans Elect.

      Secondly, this is an assessment of Americans Elect’s honesty. Americans Elect is telling us one thing about its donors — that they’re not special interests. Kirk Rostron — who has been given a seat on the AE Board of Advisors — is clearly coming from a special interest background. The contradiction says something about whether Americans Elect’s word on a matter should be taken at face value.

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