Jeb, Inc.: The Checkered Business Record Of The Next Bush Eyeing The Presidency

[kpete]

just one of the examples:

Bush-El

After helping elect his father president of the United States, Jeb Bush teamed in 1989 with then-Moving Water Industries, Corp. (MWI) president and CEO J. David Eller, to create Bush-El. The eponymous partnership aimed to market MWI’s water pumps internationally. In 2002, the Miami Herald revealed that on one of Bush’s trips to Nigeria to help sell them MWI pumps in 1991, that company’s corporate pilot claimed he saw a suitcase full of cash — an apparent bribe for Nigerian officials. The pilot did not implicate Bush and a Bush spokesman noted inconsistencies in the claims. ”The governor was adamant he was not on an airplane with a suitcase full of cash,” the spokesman said, adding Bush was “unaware of any plane he was on with luggage on it full of cash.”

I made money. That’s the only benefit I can see… Otherwise, it’s been unmitigated grief.

Bush has reportedly said his involvement in the Nigeria effort was conditioned on a private loan being secured (as his father was president at the time and he wanted to avoid any appearance of impropriety). But the company instead went to the U.S. Export-Import Bank for the $74.3 million it needed for the deal. In 1998, after a whistleblower alleged “knowingly false or fraudulent claims” connected to that financing, the Department of Justice filed suit against MWI. The company has steadfastly denied the allegations, but was found liable by a jury last year and fined $580,000 (the MWI has appealed the verdict). Bush was not implicated and was never forced to testify in the case after a federal judge ruled him irrelevant to the case.

Bush said later that the bad publicity from Bush-El had proven highly troublesome for him: “I made money. That’s the only benefit I can see… Otherwise, it’s been unmitigated grief.” While he said he took no money on the Nigeria deal, he made $648,250 on the Bush-El venture, between pump sales in other countries and selling his half-share in the partnership to Eller in 1994, prior to his gubernatorial campaign.

An MWI company spokesman declined to comment for this story.

way more:
http://thinkprogress.org/election/2014/11/21/3591619/jeb-bush-business-failures/

[louis-t]

1. Typical bush. Made millions while emptying someone else's

wallet. There is nothing in the article about the savings and loan scandal. I will check into it and post what I find about the $500,000 building that his brother Neil loaned him $2 million for. He only had to pay back the $500,000 that the building was worth.

[misterhighwasted]

2. Like Tar Sands oil sludge, the dirty gene lies thick in the Bush crime family's DNA.

Jeb. Ugh!

[louis-t]

3. I stand corrected.

The amount he was loaned was $4.5 million. Lots here about the bush crime family.

http://campaignwatch.org/more1.htm

[louis-t]

4. I stand corrected again.

I have read other articles that state that Neil had nothing to do with the loan.