Say Goodbye To The Podesta Group

The Podesta Firm, essentially a leftest lobbying form, is basically on the verge of collapse and according to CNN, the CEO has told their employees to expect to be out of work as early as next week.

At least according to a report from CNN:

“Kimberley Fritts, the chief executive of the Podesta Group, told employees during a Thursday staff meeting that the firm would cease to exist at the end of the year, according to two sources. Employees were asked to clear out their desks and were told they may not be paid beyond November 15, multiple sources said.”

“Fritts told the employees the Podesta Group may try to provide health care through the end of the year, according to two people in the meeting…”

“Talk of potentially closing the Podesta Group marks a dramatic downfall of one of K Street’s most iconic and well-connected firms. In its heyday, Podesta Group was the largest non-law firm lobbying organization in Washington. Tony Podesta, the firm’s founder and chairman, helped fuel the company with work for foreign governments. He and his brother, John, founded the company almost three decades ago. (John Podesta chaired Hillary Clinton’s 2016 presidential campaign. He left the firm in 1993.)”

Considering the source, though, I’m not sure how to take that. In fact, according to Bloomberg, the situation for the Podesta Group may not be as bad as it’s being made out to be:

“Chief Executive Officer Kimberly Fritts told employees Thursday afternoon she is working on launching a new firm that would take many of Podesta’s staff and clients with her, said two people familiar with the meeting.”

As reported by The Atlantic:

The highest-profile recent fara prosecutions in recent decades include the ring of Russian spies arrested in 2010, who were charged with violating the law, and the Cuban 5 spy ring in 1998. But for highly paid Washington lobbyists representing foreign governments, these prosecutions are rare…

“It’s without a doubt the biggest fara prosecution ever, and I think the facts outlined in the indictment raise big questions for the two firms,” said Matthew Miller, a former DOJ spokesman. “It wouldn’t surprise me to learn that people with either firm have been cooperating with Mueller, and we may see more guilty pleas in the near future.”