Luckily, unlike John McCain, we here in the blogosphere are capable of juggling more than one ball in the air. Lindsay Beyerstein has done some basic investigation (remember when the mainstream media practiced journalism?) and found that the McCain campaign, is just not being honest:
The McCain campaign claims that campaign manager Rick Davis separated from his lobbying firm, Davis Manafort, in 2006:
In fact, the allegation is demonstrably false. As has been previously reported, Mr. Davis separated from his consulting firm, Davis Manafort, in 2006. As has been previously reported, Mr. Davis has seen no income from Davis Manafort since 2006. Zero. Mr. Davis has received no salary or compensation since 2006. Mr. Davis has received no profit or partner distributions from that firm on any basis -- weekly, bi-weekly, monthly, bi-monthly, quarterly, semi-annual or annual -- since 2006. Again, zero. Neither has Mr. Davis received any equity in the firm based on profits derived since his financial separation from Davis Manafort in 2006.
This record, which I retrieved from the Virginia State Corporations Commission shows that Davis is still an officer/director of Davis Manafort, Inc. He is also currently the clerk/treasurer of Davis Manafort Partners, Inc.
Corporate officers/directors don't necessarily get paid and don't necessarily "receive equity" based on the profits of the corporation. But whether Davis has been paid, or received any equity based on Davis Manafort's profits since 2006 is a separate question from whether he retains a connection to the firm.
And as Newsweek cited, "the arrangement was approved by Hollis McLoughlin, Freddie Mac's senior vice president for external relations, because 'he [Davis] was John McCain's campaign manager and it was felt you couldn't say no.'"