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Governor candidate Carney: finances 'under pressure, but far from under water'

Robert Carney Jr. is coming clean about his financial difficulties in an effort to bolster his long-shot candidacy for governor.

By Baird Helgeson

January 26, 2010 at 1:17AM

By Baird Helgeson

DFL gubernatorial candidate Mark Dayton seemed to find it cathartic to admit he suffers from depression and relapsed in his drinking.

Now Republican Robert Carney Jr. is hoping a little truth-telling of his own might bolster his long-shot candidacy for governor.

Citing Dayon's revelations, Carney sent out a news release Monday saying he faces foreclosure on his south Minneapolis home after a bank refused to refinance.

Carney said some expenses had to go, citing an earlier post in Hot Dish about his cancelled cellular phone service.

"The bank's decision has created a very serious cash flow problem for me," Carney said in the release.

But while Dayton declined to reveal many details about his depression and drinking, Carney took the opposite approach, offering a comprehensive rundown of his financial plight and possible solutions.

Last June, Carney said, he was close to refinancing his mortgage to help launch a business that will aid construction of bridge decks and other elevated concrete slabs. As the economy tanked, the lender backed out.

Carney said he lives in a home on a double lot near Lake Harriet in south Minneapolis. One option would be to sell the undeveloped lot, which he figures would bring in about $300,000. There's another option, too. "If necessary, I can knock out an egress, live in the basement, and rent the rest of the house," he said. "I've got all the information on the rental tools I need to knock out the wall section. I can do that in one day." Carney said his hardship will become part of his campaign platform. "I will be raising this issue during both my current campaign, and in my future political activity," he said. "It's just crazy to let banks shovel out billions in bonuses while starving small businesses of the capital needed to grow and to hire people." Despite the financial hardship, Carney pledged to continue his campaign "no matter what."

about the writer

Baird Helgeson

Deputy editor

Baird Helgeson is deputy local editor at the Star Tribune. He helps supervise coverage of local news. Before becoming an editor, he was an award-winning reporter who covered state government and politics. He has worked for news organizations in Minnesota, Florida and North Dakota.