Posts tagged K Street
Posts tagged K Street
The social network Snapchat has hired lobbyists in Washington for the first time.
Snapchat — which allows users to send photos and videos that disappear after a certain amount of time — has signed up with the powerhouse K Street firm Heather Podesta + Partners, according to a lobbying disclosure form filed Jan. 1.
Well, this says a lot:
An aging K Street has continued to boom even as middle-age and older Americans in other industries, such as manufacturing and business, have struggled to maintain relevance in the changing economy. Nearly half the 3.5 million jobless Americans are 45 or older, and the number of those unemployed for more than a year has quadrupled since 2007, according to recent Department of Labor statistics.
Via Bloomberg: “Washington’s well-oiled revolving door is spinning at breakneck speed—23 lawmakers who were in Congress last year have begun new careers in the influence industry.”
"Sixteen lawmakers who left Congress recently have landed posts with groups that seek to influence policy — despite rules aimed at slowing the revolving door between Capitol Hill and lobbying firms, a USA TODAY analysis shows."
"Democrats control the White House and the Senate, but you wouldn’t know it by looking down K Street.
"Republicans hold more than 30 of the 50 highest-profile, in-house lobbying jobs in town, a POLITICO analysis found. That doesn’t even include lobbying shops and law firms, which have long been Republican-dominated."
Nice work if you can get it:
K Street shops, many in revenue decline for the past couple of years, can no longer afford the luxury of a high-priced former member. Senators usually don’t entertain offers worth less than $1 million, and House members’ threshold is typically about $700,000. And it’s an investment with no guaranteed payoff. Ever.
"When the congressional agenda includes cuts to entitlements and defense programs, a fight over the debt ceiling and potential tax changes that could affect virtually every sector of the economy, you can bet on one thing: Lobbyists will be very busy this year.
"K Street executives do not predict dramatic growth in their industry for 2013, but they do expect a steady uptick in revenue with clients deeply vested in what comes out of Washington, D.C."