Colorado's business leaders seek a bailout of their own

A group of business leaders that joined forces with organized labor during the campaign season is now hosting a fundraiser to retire $225,000 of campaign debt.

IsenbergFTS File Photo

Colorado Concern, an alliance of top business executives, spearheaded an October deal with union bosses that resulted in organized labor pulling four anti-business measures from the ballot. The unions made the deal in exchange from a $3 million pledge from Colorado Concern and others to help defeat Amendments 47, 49, and 54 - three measures that collectively threatened to weaken labor power in Colorado. To help fight the measures, Colorado Concern formally launched the issue committee “Colorado Businesses for Sensible Solutions". The union-business cease fire helped defeat Amendments 47 and 49. Only Amendment 54 prevailed.

Hotelier Walter Isenberg and Oakwood Homes CEO Pat Hamill, both board members at Colorado Concern, led the effort to raise the funds needed to satisfy the unions’ conditions for removing their measures from the ballot. While the deal was being negotiated, rumors were rampant that Colorado Concern leaders were desperate to raise the $3 million. Insiders said that Colorado Concern had only raised $1.5 million in October, and the ink on the deal ultimately dried before the campaign coffer was full. It is unknown if the $3 million mark was ever reached.

Now faced with nearly a quarter million in debt, Isenberg and Hamill - along with Denver Mayor John Hickenlooper - are welcoming guests to pony up to the tune of $2,000 per person or $5,000 per corporation - a tough sell in a tough economy. Especially since Colorado Concern had trouble raising it in October before the market tanked and the election ended.

But who knows? Maybe there is room in the Fed's $700 billion economic bailout for a couple more irresponsible businessmen.