Mr. S

Arnold walks into another one. LATimes (07.14.05):

"Two days before he was sworn into office, Gov. Arnold Schwarzenegger accepted a consulting job paying an estimated $8 million over five years to 'further the business objectives' of a national publisher of health and bodybuilding magazines. The contract pays Schwarzenegger 1% of the magazines' advertising revenue, much of which comes from makers of nutritional supplements. Last year, the governor vetoed legislation that would have imposed government regulations on the supplement industry." Gov. to Be Paid $8 Million by Fitness Magazines

"According to records filed Wednesday with the Securities and Exchange Commission, Schwarzenegger entered into the agreement with a subsidiary of American Media Inc. on Nov. 15, 2003. The Boca Raton, Fla.-based company publishes Muscle & Fitness and Flex magazines, among others." "Watchdog groups and state lawmakers called the contract — which refers to Schwarzenegger as "Mr. S" — a conflict of interest." On the other hand, California law "allows governors and other elected officials to keep outside jobs." For those of us having enough mind left to inquire, among other publications, American Media Inc. owns The National Enquirer. In addition to the consulting services, Arnold's getting a title. From the SEC Form 8-K filing: "Mr. S will serve as the 'Executive Editor' of Muscle & Fitness and Flex in relation to the consulting services being provided to Weider pursuant to the terms of this Agreement." Conflict of interest? Hoo ha.