Early Career
In 1978, Bush ran for the House of Representatives from Texas's 19th congressional district. His opponent, Kent Hance, portrayed him as out of touch with rural Texans. Bush lost the election by 6,000 votes (6%) of the 103,000 votes cast. He returned to the oil industry and began a series of small, independent oil exploration companies. He created Arbusto Energy, and later changed the name to Bush Exploration. In 1984, his company merged with the larger Spectrum 7, and Bush became chairman. The company was hurt by decreased oil prices, and it folded into HKN, Inc. Bush served on the board of directors for HKN. Questions of possible insider trading involving HKN arose, but the Securities and Exchange Commission's (SEC) investigation concluded that the information Bush had at the time of his stock sale was not sufficient to constitute insider trading.
Bush moved his family to Washington, D.C. in 1988 to work on his father's campaign for the U.S. presidency. He served as a campaign adviser and liaison to the media; he assisted his father by campaigning across the country. Returning to Texas after the successful campaign, he purchased a share in the Texas Rangers baseball franchise in April 1989, where he served as managing general partner for five years. He actively led the team's projects and regularly attended its games, often choosing to sit in the open stands with fans. Bush's sale of his shares in the Rangers in 1998 brought him over $15 million from his initial $800,000 investment.
In December 1991, Bush was one of seven people named by his father to run his father's 1992 Presidential re-election campaign as "campaign advisor". The prior month, his father asked him to tell White House chief of staff John H. Sununu that he should resign.
Read more about this topic: George W. Bush
Famous quotes containing the words early and/or career:
“... goodness is of a modest nature, easily discouraged, and when much elbowed in early life by unabashed vices, is apt to retire into extreme privacy, so that it is more easily believed in by those who construct a selfish old gentleman theoretically, than by those who form the narrower judgments based on his personal acquaintance.”
—George Eliot [Mary Ann (or Marian)
“It is a great many years since at the outset of my career I had to think seriously what life had to offer that was worth having. I came to the conclusion that the chief good for me was freedom to learn, think, and say what I pleased, when I pleased. I have acted on that conviction... and though strongly, and perhaps wisely, warned that I should probably come to grief, I am entirely satisfied with the results of the line of action I have adopted.”
—Thomas Henry Huxley (1825–95)