Tuesday, August 30, 2016

UPDATE (READ): APS/Pinnacle West File SEC Disclosure: "Cannot Predict...Outcome" Of Burns' Political Contribution Subpoenas

APS and its parent company, Pinnacle West Capital Corp., filed with the Securities and Exchange Commission ("SEC" and shareholders this afternoon, reporting the subpoenas filed by Arizona Corporation Commissioner Bob Burns. They told shareholders they "are considering their respective responses to the subpoenas and cannot predict the outcome of this matter."

Burns served the subpoenas last week, seeking information about all political-related spending during the past five years, and requesting the testimony of CEO Don Brandt. Through the reporting of the Arizona RepublicArizona's Politics and others, it is widely believed that APS/PWCC put several million dollars into a "dark money washing machine" and spent it in on Arizona Corporation Commission races and net metering issues, as well as other political races. APS/PWCC also made political contributions that were not put through a full wash cycle, such as to the Republican Attorneys General Association and the Republican Governors Association.

APS/PWCC gave $50,000 to a pro-McCain SuperPAC just this past month, as reported by Arizona's Politics.

Burns' seat on the Corporation Commission is on today's GOP ballot, and he is facing challenges in both the primary and general elections. That could be one of the reasons APS/PWCC is hesitant to predict the outcome.

We welcome your comments about this post. Or, if you have something unrelated on your mind, please e-mail to info-at-arizonaspolitics-dot-com or call 602-799-7025. Thanks.

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