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Sam Katz in debt after latest run for [Philly]mayor
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| Parent(s) |
Race
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| Contributor | User 490 |
| Last Edited | User 490 Dec 06, 2003 11:10pm |
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| Category | News |
| Media | Newspaper - Philadelphia Inquirer |
| News Date | Saturday, December 6, 2003 06:00:00 AM UTC0:0 |
| Description | Undeterred by pre-election polls, Republican Sam Katz went heavily into debt for a massive Election Day operation - the kind that might have gotten him elected had he done it in 1999.
This year, all it got him was deeper into debt.
Katz borrowed $500,000 from a Wilmington bank, guaranteeing the loan personally, to meet his budgets for political advertising and election-day street money. The campaign owes nearly $400,000 more to a variety of vendors, on top of $225,000 that Katz lent personally to his campaign, earlier in the year.
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