Checking Giuliani's Ties

Representatives of Ecosphere, Command Security and Lightning Sciences did not return calls seeking comment.

Positioning for the Race

Giuliani Partners is dedicated to "crisis management" and thus "by definition is involved with stuff outside the usual circles," says Barry Ritholtz, chief investment officer of Ritholtz Capital Partners and a RealMoney.com contributor.

Furthermore, the firm's focus fits with candidate Giuliani's posture as being strong on national security and homeland defense, a reputation earned, of course, during his leadership amid the Sept. 11, 2001, terror attacks and aftermath. "Proactive anti-terror technology is consistent with his image vs. [traditional] venture capital investment made for financial reasons," Ritholtz says.

Indeed, Giuliani Partners' Web site features sections on such lofty goals as integrity, optimism, courage, preparation, communication and accountability. "It's a site geared toward a presidential campaign. There's nothing important to investors," Ritholtz observes.

It's almost as if making money is somehow beneath the firm -- almost.

Earlier this week, Giuliani filed paperwork with the Federal Election Commission that makes a presidential bid a near certainty. But by not formally declaring his candidacy, Giuliani put off having to submit a personal financial disclosure form. If Giuliani formally declares his candidacy between now and May 15, he will have to file a personal financial disclosure statement by May 15, according to The New York Times. If he declares between May 15 and Dec. 30, he must file the statement within 30 days of the declaration date.