Bloomberg's Julianna Goldman writes that Ousted Republicans Have Less Fame, More Fortune in Their Future.
After 26 years in Congress, Clay Shaw knows what he wants his next job to be: corporate director.
Shaw, a Florida Republican who was defeated in his re- election bid in November, has deferred offers from Washington law firms and rebuffed an inquiry to teach while he pursues his dream.
``It's not a 9-to-5 job, and you can serve on a board and live just about anywhere you want,'' he said.
Shaw, 67, is one of the 22 Republican representatives and six senators lining up new careers after being ousted from the offices that afforded them media attention, devoted aides and a $165,200 congressional salary.
Their losses may ultimately prove to be a financial windfall. Former lawmakers can expect wages from $250,000 to $2 million a year in the outside world, said former House Republican leader Dick Armey, 66, a senior policy adviser with the lobbying firm DLA Piper in Washington.
``I know of only a few cases where members failed to make more than they did as members of Congress,'' Armey said.
Some of the beaten Republicans -- no Democrat running for re-election lost -- are following the traditional route to wealth: lobbying. Defeated Montana Senator Conrad Burns, 71, was hired by Washington-based GAGE Business Consulting and Government Affairs, a lobbying group founded by his former chief of staff, Leo Giacometto. Burns, who by law can't lobby for a year, will bide his time this year as a ``senior adviser,'' according to the firm's Web site.
Abramoff Links
Burns' link to lobbyists contributed to his election loss. He received more money than any other lawmaker from Republican lobbyist Jack Abramoff, who pleaded guilty last year to conspiring to corrupt public officials.
For Burns and other lawmakers, being out of office will allow them to enjoy life away from public scrutiny. Former Minnesota Representative Gil Gutknecht, 55, doesn't have to worry about most House ethics rules or the criticism of political opponents when he lines up paid speaking appearances before interest-group members.
``I can play golf with them and not have to figure out what's right and what's wrong,'' Gutknecht said.
Can we assume that this means Gutknecht won't be running for office again?
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