Lubbock, Texas (June 11, 2003) -- It’s back to the accounting world for National Association of State Boards of Accountancy chairman Michael Conaway, who lost his bid to become the Texas’ next congressman.

In a special runoff election last week, Conaway trailed land developer Randy Neugebauer by a slim margin. Neugebauer will fill out the term of U.S. Rep. Larry Combest, who resigned from his 19th Congressional District seat last month.

In a special election May 3, Conaway and fellow Republican Neugebauer garnered the most votes among a field of 17 candidates vying for Combest's seat. However, neither man received the required 50.01 percent of votes cast, so they faced off in the additional election.

In addition to 30 years of CPA experience, Conaway has close ties to President George W. Bush, who as Texas governor appointed Conaway to head the state’s Board of Public Accountancy.

-- WebCPA staff

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