In business news, ExxonMobil tops the new Fortune 500 list of the nation’s largest publicly traded companies. Last year Exxon pulled in $340 billion in revenue and a record $36 billion in profits. Wal-Mart came in second on the Fortune 500 list.
Report: Abramoff Attempted to Lobby For Sudan
Meanwhile the Los Angeles Times is reporting that disgraced Republican lobbyist Jack Abramoff once proposed to sell his services to the Sudanese government to help improve its reputation in the United States. Sudan's ambassador to the United States revealed that Abramoff offered to lobby on Sudan’s behalf in Washington but the multi-million dollar deal never went forward. Last week Abramoff was sentenced to nearly six years in jail.
Former GOP Majority Leader Tom Delay to Resign
Republican Congressman Tom Delay has announced he is resigning and will give up his House seat within the next few months. The former House Majority Leader has been one of the most powerful – and controversial – Republicans on Capitol Hill. DeLay announced his resignation just days after a former top aide, Tony Rudy, pleaded guilty in connection to a lobbying scandal involving Republican lobbyist Jack Abramoff. Last November, Delay’s former press secretary Michael Scanlon also plead guilty to related charges. Delay was up for his re-election but polls showed he would likely lose. Last year Delay was forced to give up his position as House Majority Leader after he was indicted on criminal charges of conspiracy to violate Texas election laws. Federal investigators have also probed Delay’s personal dealings with Abramoff. DeLay’s wife worked for the lobbying firm Alexander Strategy Group which had close ties to the Republican lobbyist.