Candidate in Governor's Race Reveals Financial Info

The privately-held building materials company headed by Pennsylvania gubernatorial candidate Tom Wolf is revealing financial information after The Associated Press asked it to document one of his central TV campaign advertising themes: that it shares 20 to 30 percent of profits with employees.

The Wolf Organization gave information in response to AP's questions.

It says it made $6 million in 2013 and set aside $1.26 million in pre-tax profit sharing. That's 21 percent.

It says it made $2.1 million in 2012 and shared about $427,000, or 20 percent.

Chief financial officer Michael Newsome says profit sharing can rise to 30 percent depending on the owners' return on their investment of working capital.

Wolf is one of seven Democrats seeking the party's nomination to challenge Republican Gov. Tom Corbett in November.


Copyright AP - Associated Press
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