By Beth Rucker
The Associated Press
NASHVILLE —; Real estate holdings and investments earned Republican U.S. Senate candidate Bob Corker between $3 million and $20 million to supplement $40,324 he earned as mayor of Chattanooga part of last year, according to financial disclosure forms.
Senators, U.S. representatives and congressional candidates are required to disclose their salaries, assets, other incomes and liabilities.
GOP Senate candidate Ed Bryant earned $52,017 in 2005 as an attorney in Jackson, as well as $88,030 from his position as special assistant to the president of Union University and guest lecturer in political science.
Republican candidate Van Hilleary has not yet submitted his financial disclosure forms, which were due to the Senate in May, but he has been granted an extension.
U.S. Rep. Harold Ford, who likely will be the Democratic nominee in the U.S. Senate race, reported no salary other than his $165,200 congressional salary. Ford reported holding mutual funds and other financial assets valued between $40,000 and $155,000, and dividends and gains from those funds of between $2,000 and $8,000.
Before selling many of them, Corker owned a number of real estate properties valued at between $60 million and $230 million. Candidates only have to give estimated ranges of the worth of their holdings, not their exact values.
Corker sold dozens of commercial buildings in January 2006, partly to avoid any potential conflicts should he become a senator. The sale involved buildings where federal agencies, such as the Internal Revenue Service and U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives, have leases.
Corker’s $40,324 salary was from the approximately four months he served as mayor before being replaced by successor Ron Littlefield. He also earned between $15,000 and $50,000 from his city-funded pension.
Corker served as mayor until mid-April 2005. In August 2005, the mayor’s salary increased from $129,950 to $133,848 annually.
Bryant earned between $1,400 and $5,000 in gains and interest off stocks and other financial assets and collected between $2,000 and $5,000 from a home he rents out in Jackson.
U.S. Senate candidates disclose income, assets
By The Associated Press
Summaries of the 2005 financial disclosure statements for U.S. Senate candidates. Where exact values are not required to be reported, ranges are given:
Republican Bob Corker
* Earned income: $40,324, Chattanooga mayor’s salary (four months).
* Major assets: Real estate holdings, $60 million to $230 million.
* Major sources of unearned income: Rent and interest from real estate, $3 million to $20 million.
* Major liabilities: Mortgages and credit lines on real estate, $25 million to $120 million.
Republican Ed Bryant
* Earned income: $140,047, Waldrop & Hall law firm, Union University.
* Major assets: House $50,000-$100,000; Stocks and other financial assets $33,000 to $145,000.
* Major sources of unearned income: Earnings from stocks and financial assets $1,400 to $5,000, rent $2,000 to $5,000.
* Major liabilities: Mortgage on house, $50,000 to $100,000.
Democrat Harold Ford
* Earned income: None reported; Ford, a U.S. representative earns $165,200 in Congressional pay, which does not have to be disclosed.
* Major assets: Mutual funds and other financial assets, $40,000 to $155,000.
* Major sources of unearned income: Earnings from mutual funds and other financial assets, $2,000 to $8,000.
* Major liabilities: None reported.
Republican Van Hilleary has not yet filed financial disclosure statements.
Source: Candidates’ financial disclosure reports