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Gingrich’s old think tank files for bankruptcy

By Capitol Hill Blue
April 6, 2012

(AP Photo/The Star-News, Paul Stephen)

The Center for Health Transformation (CHT), a health-care think tank founded by former Speaker of the House and current but failing GOP presidential candidate Newt Gingrich, is going out of business.

CHT filed for Chapter 7 bankruptcy and liquidation this week, listing debt up to $10 million and assets of less than $100,000.

The Atlanta Business Chronicle reported the bankruptcy was filed in Atlanta.  CHT has offices in Washington, Atlanta and St. Louis.

Gingrich sold his share of the company along with his consulting firm, The Gingrich Group, to CHT on May 10, 2011.

“CHT went into debt to buy out Gingrich and never recovered,” a source close to the consulting firm told Capitol Hill Blue Thursday.  “He cashed out.”

The source also said that with Gingrich gone, CHT lost many of its high-profile – and high paying – clients.

3 Responses to Gingrich’s old think tank files for bankruptcy

  1. Sandy Price

    April 6, 2012 at 10:19 am

    My grandfather had a stroke and died before he was 60 years of age. I was his sidekick for the final 5 years of his life. Mother dropped me into his lap immediately following his retirement and closing up the Santa Monica store.

    He explained right from wrong and how to die without owing anyone any money. Today it is so easy to file a bankruptcy and walk away without a sense of weakness.

    Bankruptcy is more than a sign of debt but it is a sign of weakness of not being in control of ones life. Speaker Gingrich walked away from his debts without a single cringe of guilt. Can one just imagine what he could have done with our treasury?

  2. Jim B.

    April 6, 2012 at 7:16 pm

    Good point, Sandy….If he were Pres., he’d need a lot of minding.

    RE: his health think tank, Gingrich would probably say he’s simply being a practical businessman and politician…He’s doing his best to pay his campaign bills.

    Now that the health think tank has gone “code blue”, Gingrich may have received a transfusion of cash from it…enough to keep him on life support.

  3. Jon

    April 10, 2012 at 4:44 pm

    Um, minor detail: He didn’t just ‘walk away from it’. They took out a huge loan, paid Newt most of it, and then declared bankruptcy, while Speaker Gingrich gets to keep the money.

    Nice work, if you can get it.

    J.