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Politics : PRESIDENT GEORGE W. BUSH
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To: Mark Konrad who wrote (396418)4/22/2003 2:17:51 PM
From: jackhach  Read Replies (3) of 769670
 
Texas Rangers:

Bush was hired by team owners to assist them in acquiring land and a bond issue to purchase said land for the building of a new stadium for the money losing Rangers.

Bush was given a $750,000 advance and approximately 5% ownership upon successfull completion of such. Bush put ZERO dollars up for his part and had NO active participation in team matters.

Bush, through connections in Texas, was able to get the state to investigate the "wanted" parcels of land and deem them toxic/polluted -- although no official determination was ever made. The value of the land dropped tremendously and the Rangers organized an arrangement to "clean up" any land as part of its purchase and to assist the people (of Arlington County) of that area with a possibly deadly situation.

The rangers acquired the land with NO clean up cost at approximately 35 to 40 cents on the dollar and with TAXPAYER dollars/bond tied to the need for possible land renewal.

Bush upon the park's completion sold his 5% share once valued at $750,000 (not a penny put in by him) for roughly $15 million just after. He then took the money and parked them in select municipals avoiding any future tax. He NEVER paid or reported a capital gain on the disposition of his Rangers assets and thusly avoided a $3 to $5 million capital gain payment to the IRS.

DONT BELIEVE ANY OF IT -- I couldn't either when I heard it.

-JH
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