Investor confidence in continuing signs of low inflation fueled the gains. The Dow is up 21 percent so far this year. In his first term, Carey had reduced Teamsters perks and salaries and helped remove crooked local bosses who had infested the historically corrupt union. Now Carey himself is a potential target of two separate probes investigating whether his office knew about allegedly illegal campaign donations. On June 6, Martin Davis, a Carey election consultant, was arrested and charged with diverting embezzled Teamsters money to Carey's re-election effort.
Federal law prohibits a union candidate from using union money in campaigns.
After the arrest, Carey was quick to deny any knowledge of or involvement in the alleged scheme, and a Teamsters spokesperson says the union is cooperating with the probes. In all, roughly 1,400 complaints about campaign spending have been filed with the official who oversaw the election and who could ultimately nullify it. Inc. All rights reserved.