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Jun. 15, 2006
Copyright © Las Vegas Review-Journal


CORRECTION, 6/16/06 -- A Stephens Washington Bureau story in Thursday's Review-Journal incorrectly reported that U.S. Sen. Harry Reid invested in mutual funds in 2005. He invested in broad-based index funds, which are designed to reflect the performance of the entire market and not a portfolio of stocks and bonds, and therefore keep his investments more transparent. In the same story, a caption contained an error. Democrat Tessa Hafen is running for the U.S. House seat held by Republican Rep. Jon Porter.

DISCLOSURE REPORTS: Details of personal finances released

Lists provide snapshots on Nevada lawmakers, congressional aspirants

By STEVE TETREAULT
STEPHENS WASHINGTON BUREAU

Dawn Gibbons
Republican running to take over her husband's seat in the U.S. House


Dean Heller
Nevada secretary of state who is running for a seat in the U.S. House


Sharron Angle
Republican state senator running for a seat in the U.S. House


Tessa Hafen
Democrat who is challenging Jon Porter for his seat in the U.S. House

WASHINGTON -- Sen. Harry Reid, D-Nev., and his wife were granted full rights to 18 acres of undeveloped land in Searchlight following the death of a longtime friend. He obtained a gift waiver from the Senate ethics committee to accept the property valued at $10,000.

Rep Shelley Berkley, D-Nev., moved into a home she bought at more than $1 million on Capitol Hill for when Congress is in session. It is a block away from a previous residence she and her husband ended up keeping as an investment property.

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Sen. John Ensign, R-Nev., and his wife set up investment accounts for their three children, ages 14, 10 and 8.

Tessa Hafen, a Democrat from Henderson who quit her job as a U.S. Senate adviser to run for Congress, is supporting herself in part as a substitute teacher in Clark County schools.

U.S. Senate candidate Jack Carter, a Democrat from Las Vegas, owns a piece of the landmark family farm in Plains, Ga., made famous during the presidency of his father Jimmy.

Details of the personal finances for Nevada lawmakers and congressional aspirants were found in disclosure reports that were released by Congress on Wednesday covering 2005, and part of 2006 for certain filers.

The reports list the approximate value of their investments, income derived from their holdings, financial transactions, speaking fees and travel accepted from private groups.

An exact accounting is impossible to determine since the lawmakers and candidates are allowed to list the value of their assets in broad ranges. They don't have to report the value of their personal residences or the incomes of their spouses.

They also are not required to list their salaries from Congress, which was $162,100 in 2005 for rank-and-file members. Reid made $180,100 as Senate minority leader.

The reports provide a snapshot of the Nevada politicians' personal lives and financial choices. Most of them provided copies before their official release. The report for Dean Heller of Carson City, the Nevada secretary of state who is running for the House, could not be obtained on Wednesday.

Berkley and her husband Dr Larry Lehrner appear to be the wealthiest, with net assets of at least $4.1 million and at most $17.8 million.

Sharron Angle, a Republican state senator from Reno running for the House, received a $1,099 commission last year from Melaleuca, a "wellness product" company out of Idaho Falls, Idaho.

Jill Derby, a Democrat and university regent running for Congress from Gardnerville, holds rental properties with her husband in San Jose, Calif., and at Lake Tahoe, valued at more than $1 million apiece.

Here are sketches of Nevada lawmakers and congressional candidates:

SEN. HARRY REID

Reid and his wife Landra have wealth split between land holdings and mining claims in Nevada and Arizona, and stock and bond investments.

Reid reported assets of between $2.3 million and $5.1 million. His most valuable holding is 160 acres of land in Bullhead City, Ariz., worth between $500,000 and $1 million.

Barney Regan, a longtime Reid friend and co-owner of an 18-acre mining claim in Searchlight they purchased in 1979, died in March 2005. Regan transferred his interest to the Reids before he died, according to an account by the Senate ethics committee that granted Reid a waiver to accept the gift.

The assessed taxable value of the property is $10,000, Reid told the ethics panel.

Reid was an active trader in December, selling stock in more than 50 companies and reinvesting in mutual funds. Stocks he sold included Best Buy, Chevron, Anheuser Busch Cos., Exxon Mobil, General Electric, Harley Davidson, Intel, Pepsico and WalMart Stores.

SEN. JOHN ENSIGN

Ensign and his wife Darlene set up new custodial investment accounts for their children.

Not counting money socked away in those accounts, the Ensigns reported between $166,000 and $415,000 in congressional credit unions, checking and savings accounts and a money market account.

A veterinarian, Ensign's largest asset is the Summerlin parcel he co-owns with Gerald Pribyl that is the location of the South Shores Animal Hospital, valued at between $500,000 and $1 million.

Ensign reported income of between $15,000 and $50,000 in rent from the building, and installment payments of between $15,000 and $50,000 from Pribyl, who bought out Ensign's share of the practice in December 2001.

REP. JON PORTER

Porter, R-Nev., reported assets of between $1.5 million and $6.1 million, mostly in the value of rental properties he and his wife Laurie own in Boulder City. He reported collecting rents of between $50,000 and $100,000, and holding mortgages on the properties of between $250,000 and $500,000.

Porter, a manager with Farmers Insurance Corp., before entering Congress, holds a retirement account through Farmers valued at between $100,000 and $250,000. He also received a payment of at least $100,000 last year as deferred compensation from the firm.

REP. SHELLEY BERKLEY

Berkley and her husband, a Las Vegas kidney specialist, bought undeveloped property in Buckeye, Ariz., outside Phoenix, for between $50,000 and $100,000.

Lehrner, who hold many assets that predate the couple's 1999 marriage, sold a medical office building on McDaniel Street in North Las Vegas for between $100,000 and $250,000. He is building a new one on West Charleston Boulevard in Las Vegas.

The couple jointly own Berkley's previous home in Las Vegas, and rent it out. They hold mortgages on that property and on their two properties in Washington, D.C., totaling between $765,000 and $1.55 million.

REP. JIM GIBBONS/DAWN GIBBONS

Jim Gibbons, a Republican, is leaving Congress this year and running for governor. His wife Dawn, is among Republican candidates running to take over his seat.

The Gibbonses filed separate reports that virtually mirrored. They reported assets between $344,000 and $1.2 million, with investments in mutual funds and stock in General Electric, Intel, Microsoft and Staples.

The couple own a 520-acre vacant lot in north Washoe County valued at between $100,000 and $250,000, and a 40-acre lot in the county valued at least at $15,000.

Dawn Gibbons, a Reno businesswoman and former assemblywoman, reported receiving compensation of more than $5,000 in the past two years from her husband's congressional campaign for fundraising and consulting, and from the Education First ballot initiative.

She drew a $40,000 salary last year from Politek Inc., a consulting firm she directed. She also reported doing consulting for Sierra Nevada Corp., political manager Pete Ernaut and Nevada Supreme Court candidate Jim Hardesty.

Jim Gibbons, a former airline pilot, reported drawing $6,043 in pension payments from Delta Airlines.

JACK CARTER

Carter, an investment manager in Las Vegas, is running for the U.S. Senate against Ensign. He and wife Elizabeth held assets valued between $676,000 and $1.76 million.

Carter owns an interest valued at between $250,000 and $500,000 in Carter Farms, in Plains, Ga., a landmark during and following the presidency of his father, Jimmy Carter. Jack Carter also drew income of between $100,000 and $1 million last year from the Carter family trust.

Carter owns an investment consulting firm in Bermuda from which he drew income of at least $100,000 last year, and an investment consulting firm in British Virgin Islands. He also holds options valued at between $100,000 and $250,000 in Emergency Filtration Products, a Henderson firm.

TESSA HAFEN

Hafen, who is running against Porter, reported a salary of $79,374 last year as a press secretary to Reid in Washington. She collected $17,425 before resigning earlier this year to run for office. She reported no investments

Hafen reported drawing a salary from her campaign that she said was $3,000 through the first half of the year. She also reported working as a substitute teacher for the Clark County School District, earning $600 through mid-May.

JILL DERBY

Derby and her husband Steve, a veterinarian, reported investments of between $3.4 million and $13.1 million. Besides rentals at Tahoe and in San Jose, they own a property in Carmel, Calif., valued at between $500,000 and $1 million.

They reported a small royalty income from investments in Atlantic Oil, Sequoia Royalties and Victoria Petroleum.

Steve Derby is part owner of the Carson Valley Veterinary Hospital building in Minden valued at between $500,000 and $1 million, and secured with a mortgage of between $50,000 and $100,000.

SHARRON ANGLE

Angle, a small business manager, and her husband Ted reported investments of up to $180,000 in Yahoo stock, mutual funds and bank and credit union accounts.

Angle reported drawing a salary of $23,153 this year from the Legislative Counsel Bureau in Carson City. Her husband works with the federal Bureau of Land Management.

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