Several Lawmakers Invested in L-3 Communications, Maker of Airport Body-Scanning Machines

Michael Beckel
OpenSecrets.org
11/23/2010

A handful of federal lawmakers are invested in one of the companies behind the controversial full-body scanning machines now in more than 60 U.S. airports. The individual investments are worth thousands, and in some cases tens or hundreds of thousands, of dollars.

According to a Center for Responsive Politics review of the most recent personal financial disclosure filings, eight members of Congress — three Democrats and five Republicans — owned at least $2,000 worth of stock in L-3 Communications, which is one of the two main contractors involved in the full-body scanning machines.

Sen. John Kerry (D-Mass.) disclosed possessing the most stock in L-3 Communications — with a minimum investment of at least $500,000 and a maximum value of $1 million. The L-3 Communications stock is fully owned by his wife, Teresa Heinz, according to federal financial disclosure reports.

Members of Congress file annual personal financial disclosures detailing their assets and liabilities, as well as those of their spouses and dependent children. These forms also allow lawmakers to describe the value of their holdings and debts in broad ranges, so it’s impossible to know exactly how much the holdings of Kerry’s family, or any other lawmaker’s household, are worth.

Republican Reps. Michael Castle (R-Del.) and Michael McCaul (R-Texas) both disclosed possessing between $16,002 and $65,000 worth of L-3 Communications stock in 2009.

And Rep. Judy Biggert (R-Ill.) was the member of Congress with the next most valuable holdings in L-3 Communications, worth between $15,001 and $50,000.

Here is a table of all eight lawmakers whose 2009 personal financial disclosure forms, which were filed in May, noted holdings in L-3 Communications…

Read the rest at OpenSecrets.org

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