In the latest joust between the two lawyers vying for the Democratic nomination for Illinois attorney general, Al Hofeld on Thursday disclosed his $14.3 million net worth after weeks of being pestered by opponent Marty Oberman to do so.
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Hofeld, a personal-injury lawyer, used his disclosure during the taping of a radio news program to further press Oberman to publicly list corporations the former alderman has represented.
When Hofeld announced that the papers he handed to Oberman were his financial disclosure, Oberman retorted, “It’s about time.”
Hofeld’s documents, which did not include tax forms, indicated that he earned $3 million in 1992 and paid $771,291 in taxes. His three residences in Winnetka, Chicago and St. Petersburg, Fla. are valued at $3.3 million, $1.4 million and $82,000, respectively.
Hofeld, who spent $4.7 million of his own money in his unsuccessful 1992 U.S. Senate bid, said he now has the same amount in stocks and investments. Furthermore, he has $3 million in savings, certificates of deposit and money market funds and $1.5 million in limited real estate partnerships.
Oberman has reported income of $460,000 in 1993 and paid taxes of $142,239. He has put his net worth at $622,997.
Hofeld asked Oberman why he has not provided a list of corporate clients necessary to ensure no conflicts of interest. “What are you hiding?” he asked.
“I’m not hiding anything because it’s all disclosed,” Oberman said.
Besides criticizing each other’s disclosures, Hofeld accused Oberman of running “a scurrilous campaign” by making wealth an issue. Oberman charged Hofeld with recycling tactics he used in the 1992 race against U.S. Sen. Carol Moseley-Braun.
The dustup came during the taping of “At Issue,” scheduled to air at 9:30 Sunday morning on WBBM-AM.
Endorsements: It was a movable endorsement fest Thursday morning for several of the state’s most prominent black politicians.
The first stop was Izola’s Restaurant on the South Side, where the room was filled with the likes of U.S. Rep. Bobby Rush and Cook County Commissioner Danny K. Davis.
They were there to endorse Atty. Gen. Roland Burris in his race for the Democratic gubernatorial nomination.
Shortly after, you could catch Rush, Davis and several more of the same politicians downtown at the Bismarck Hotel. This time, they were throwing their support behind John Stroger in his campaign to become Cook County Board president.
Both candidates know how critical black voter turnout is to their success at the polls. And Rush said that’s especially true for Stroger because of lack of support elsewhere.
“Unfortunately, the Democratic Party-the white Democratic committeemen-have abandoned the candidacy of John Stroger,” Rush said after the endorsement session at the Bismarck. “He is going to be more dependent on the African-American and Hispanic community.”
Secretary of State: Sen. Denny Jacobs called for action this legislative session to legalize gambling in Chicago in his bid to win the Democratic nomination against Treasurer Patrick Quinn.
Jacobs said he has approached Mayor Richard Daley and offered to sponsor legislation which would allow floating casinos in Chicago.
A sponsor of the 1990 bill that legalized riverboat gambling outside Cook County, the East Moline legislator had opposed Chicago boats in the past.
Quinn called Jacobs’ move a “complete back flip” designed to garner support in Cook County, which is home to 70 percent of the Democratic primary vote.