Your morning jolt: Sonny Perdue’s big loan, and John Oxendine’s connections

If you haven’t already read them, two AJC articles from the weekend deserve your particular attention.

The first is a catch-up piece on the rather large loan taken out by Gov. Sonny Perdue, which was due to be paid off in March:

Alan Judd reports:

Gov. Sonny Perdue says he has paid off a $21 million business loan but probably will borrow the money again.

The status of the loan — apparently the largest ever to a sitting governor in Georgia — remained unclear three months after its due date. The lender has filed no public documents indicating the loan has been repaid, or refinanced, or reconciled in any other fashion. State law requires lenders to post such notices within 60 days after a debt is satisfied.

In the absence of such a filing, real estate lawyers say, the lender retains a legal claim over virtually everything the governor owns.

Also Sunday, Cameron McWhirter reported on connections between John Oxendine, the Republican candidate for governor, and an insurance executive:

The businessman whose companies funneled $120,000 to Insurance Commissioner John Oxendine’s campaign for governor has chaired a powerful behind-the-scenes insurance board for the past decade — after being appointed and repeatedly reinstated to the post by Oxendine.

Delos “Dee” Yancey III, CEO of State Mutual Insurance Co. and its subsidiary, Admiral Life Insurance Co. of America, has headed the state-mandated Georgia Life and Health Insurance Guaranty Association since being appointed for his first three-year term in 1999. Before that, Yancey’s father, Delos Yancey Jr., headed the group.

The association, set up as a safety net for the insurance industry, manages the operations and assets of troubled insurance companies to make sure consumers don’t lose out on their policies.

By state statute, the association can raise millions from insurers, take over assets of troubled insurers and assume policies of failed insurers. As of 2006, the most recent data available, the association reported assets of about $140 million.

While you ponder the above, also consider these other items found while perusing this morning’s ajc.com:

”Equalization” funding for Georgia’s poorer school systems is cut.

David Nahmias, currently the U.S. attorney for the Northern District and a former law clerk to Antonin Scalia, is among several candidates for the soon-to-be-vacant state Supreme Court spot.

A brief history of the city of Atlanta’s turbulent relationship with its police union.

The burglary of Lisa Borders’ condo makes crime a priority in the Atlanta mayor’s race.

Break out the cocktail sauce. Georgia shrimp season opens Tuesday.

Some opinion:

Your Luckovich fix.

Cynthia Tucker on judging without empathy.

Jim Wooten is troubled at the prospect of owning GM.

Bob Barr wonders when the real Sotomayor will stand up.

From elsewhere in Georgia:

WABE: An interview with retiring political columnist Bill Shipp.

And beyond:

WSJ: How members of Congress keep their expenses off-line.

WP: U.S. drone attacks, Pakistan’s military offensive have shaken Al-Qaeda, officials say.

NYT: Does Disney’s first black princess conquer stereotypes?

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