CNN Reporting On 'Blue Dog' Mike Ross' Ties To Pharmacy Chain USA Drug

[Turborama]

Run time: 02:00 https://www.youtube.com/watch?v=mMSZA97N8yQ   Posted on YouTube: September 22, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: September 23, 2009 By DU Member: Turborama Views on DU: 2028

 
The ProPublica report this is all stemming from:

http://www.propublica.org/article/arkansas-rep-sold-family-pharmacy-to-chain-with-stake-in-health-care-922">Rep. Mike Ross Raises Eyebrows With Healthy Haul

Arkansas Rep. Mike Ross -- a Blue Dog Democrat playing a key role in the health care debate -- sold a piece of commercial property in 2007 for substantially more than a http://s3.amazonaws.com/propublica/assets/docs/pharmacy_assessment_appraisal.pdf">county assessment (PDF) and an http://s3.amazonaws.com/propublica/assets/docs/appraisal_report_090827.pdf">independent appraisal (PDF) say it was worth.

The buyer: an Arkansas-based pharmacy chain with a keen interest in how the debate plays out.

Ross sold the real estate in Prescott, Ark., to USA Drug for $420,000 -- an eye-popping number for real estate in the tiny train and lumber town about 100 miles southwest of Little Rock.

"You can buy half the town for $420,000," said Adam Guthrie, chairman of the county Board of Equalization and the only licensed real estate appraiser in Prescott.

But the $420,000 was just the beginning of what Ross and his pharmacist wife, Holly, made from the sale of Holly's Health Mart. The owner of USA Drug, Stephen L. LaFrance Sr., also paid the Rosses $500,000 to $1 million for the pharmacy's assets and paid Holly Ross another $100,001 to $250,000 for signing a non-compete agreement. Those numbers, which Ross listed on the financial disclosure reports he files as a member of Congress, bring the total value of the transaction to between $1 million and $1.67 million.

And that's not counting the $2,300 campaign contribution Ross received from LaFrance two weeks after the sale closed.

Continues: http://www.propublica.org/article/arkansas-rep-sold-family-pharmacy-to-chain-with-stake-in-health-care-922

Kudos due to "Smartasawhip", she called it a month ago in the comments section of this video:

http://www.youtube.com/watch?v=QekW7i12dMU&NR=1">Mike Ross Threatens To Kill Public Plan

http://www.youtube.com/user/Smartassawhip">Smartassawhip (1 month ago)
The reality is that the health care industry was the single largest contributor to his campaign in 2008, with individuals and PACs collectively throwing in $261,000. Ross, a former pharmacist, also received over $100,000 in dividends last year from the pharmacy he used to own. See http://www.youtube.com/user/Smartassawhip">the comment section of my profile to see which other dems and repubs are in the pockets of big pharma and the insurance companies.

[drm604]

1. K&R

Glad to see that CNN is reporting on this. Rachel Maddow reported this but, let's face it, she's preaching to the choir. It looks like this story is going mainstream.

[kevinmc]

2. I saw that on Rachel Maddow's show ... wonder if he will

jump ship and become a Republican?

[Janice325]

3. I saw it on Rachel's show too.

k&r #10.

[bleever]

4. Hmm... Correlation not being causality and all that, one still wonders "What ho!"

(Sorry, been reading lots of P.G. Wodehouse lately, soaking in the breezy promise that all tragedies can be averted, and feeling that darn it, if any nation can exceed expectations and what-not, it's the United States of what-you-call it. Brilliant lot, and yet when one sees a fellow, elected on the promise of the benefit his experience in business will shower upon his lucky constituents, whose bank balance goes up when the balance of his beloved constituents goes down, it's a bally situation alright.)

[tblue]

5. Oh good! CNN, too! With Democrats like him.... nt

[curiousdemo]

6. Say it ain't so Mike.......

I'm from Arkansas and hearing this news is unbelievable and despicable! This joker serve my district (Desha County), and I'm looking at a petition drive to have someone in the Democratic Party run against this slimy insurance pimpster. So long Mike, it's been nice knowing ya. I called his office and his mailbox is full, I wonder why.

[Walk away]

7. This has to stay in the news thru the entire health care reform debate.

All of these Blue Dogs have skeletons in their closets. What this jerk did was completely legal and totally immoral. Who will ever vote for him again even if they are against HCR? He sold out his entire state and we can actually see the receipt because he felt no shame reporting it.

[Overseas]

8. K&R. Glad Maddow isn't the only one following this bribery story.

Oh, sorry, I meant this "appreciation of a dedicated entrepreneur" story. :sarcasm:

[DeltaLitProf]

9. Ethics committee needs to investigate this and . . . .

. . . Mike himself needs to resign. In the meantime he needs a strong, well-funded primary opponent.