REP. MICHAEL CRAPO (R-ID)

• On August 24, 1993, Rep. Crapo purchased between 1,000 and 15,000 dollars worth of stock in USX Marathon (the massive steel and oil firm).

Two weeks later (on September 9, 1993), a bill was introduced in the House that would seem to benefit USX. The bill was H.R. 3043: INDUSTRIAL AND COMMERCIAL LAND RECYCLING ACT...To provide for the voluntary environmental cleanup of existing industrial sites; to further define the cleanup liability of new industries, financial institutions and tenants; to provide for the voluntary cleanup of industrial sites by responsible owners; to define cleanup liabilities on abandoned industrial sites; to establish a Cleanup Loan Fund and the Industrial Land Recycling Fund to aid industrial site cleanups; and to provide for the registration of environmental consulting professionals (Referred to Rep. Crapo's House Energy and Commerce Committee).

In short, H.R. 3043 provides incentives for firms to re-develop industrial sites, even for firms that originally polluted the sites and then abandoned them.

The bill's sponsor was Rep. Ridge (R-PA). His district (# 21) is located just to the north of Pittsburgh, PA (corporate home of USX). The bill's cosponsor was Rep. Murtha (D-PA); his district (# 12) is located just to the east of Pittsburgh, PA.

• On September 16, 1993, Rep. Crapo purchased between 1,000 and 15,000 dollars worth of stock in Genzyme Corp. Genzyme is a leading biotechnology firm that specializes in In-Vitro and In-Vivo diagnostic substances.

Two days earlier (on September 14, 1993), a bill was introduced in the House that would clearly interest a firm like Genzyme. The bill was H.R. 3075: WOMEN'S HEALTH EQUITY ACT...To promote greater equity in the delivery of health care to American women through EXPANDED RESEARCH on women's health issues and through improved access to health care services, including preventive health services (Referred to 7 House Committees, including Rep. Crapo's House Energy and Commerce Committee).

• On August 11, 1993, Rep. Crapo purchased between 1,000 and 15,000 dollars worth of stock in Mitel Corp. (a Canadian firm that manufacures radio and telephone equipment). He later sold this stock on September 23, 1993.

According to the Montreal Gazette (dated August 26, 1993), Mitel Corp. had a "secondary offering" of 10 million shares underway when Rep. Crapo purchased his stock. The offering was priced at $6.35 (Canadian) per share to a syndicate of underwriters led by Wood Gundy Inc., ScotiaMcLeod Inc., and Midland Walwyn Capital Inc. The offering was completed on August 25, 1993.

NOTES: Rep. Crapo is # 17 on the House Energy and Commerce Committee; he was named the Freshman Republican leader in 1992.