In 1986, when Spectrum 7 was on the brink of insolvency, Harken bought it, paying Bush and his partners roughly $2 million in Harken stock — Bush's portion being the 212,000 Harken shares. Spectrum 7 had reported losses of $400,000 in the six months preceding the sale and was more than $3 million in debt. According to the Center for Public Integrity, Bush's name and connections were the main reasons Harken was willing to offer so much to purchase the otherwise ruined Spectrum 7 and pay impressive director's and consultant's fees to someone who had yet to launch a successful business venture.
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