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WEDNESDAY, NOVEMBER 25, 2009
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10

Blue Dog Gets Real Estate Windfall From Drug Company

USA Drug overpaid for Ross' wife's pharmacy

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(Newser) – Arkansas Rep. Mike Ross, a Blue Dog Democrat who’s taken a leading role in the health care debate, sold a piece of commercial real estate to a pharmaceutical company for an eye-popping sum in 2007, Pro Publica reports. USA Drug paid $420,000 for the property in Prescott, Ark.—substantially more than both a county assessment of its worth and an individual appraisal. “You can buy half the town for $420,000,” says the chairman of the town’s only licensed real estate appraiser.

The building Ross sold is the site of Holly’s Health Mart, run by his pharmacist wife, Holly. USA Drugs also paid $500,000 to $1 million for the pharmacy’s assets, and paid Holly Ross another $100,001 to $250,000 to sign a non-compete agreement, bringing the total value of the score to between $1 million and $1.67 million. Holly remains as the pharmacist under the new ownership, and, oh yeah, Ross got a $2,300 campaign contribution from the buyer's owner two weeks after the sale.

In this Aug. 7, 2007 file photo, Rep. Mike Ross, D-Ark., is interviewed in Little Rock, Ark.
In this Aug. 7, 2007 file photo, Rep. Mike Ross, D-Ark., is interviewed in Little Rock, Ark.   (AP Photo/Danny Johnston, File)
House Energy and Commerce Committee member John Dingell, right, talks with Mike Ross on Capitol Hill, July 30, 2009, during the committee's markup on the America Affordable Health Choices Act of 2009.
House Energy and Commerce Committee member John Dingell, right, talks with Mike Ross on Capitol Hill, July 30, 2009, during the committee's markup on the America Affordable Health Choices Act of 2009.   (AP Photo/Susan Walsh)
Arkansas Reps Vic Snyder, right, and Mike Ross talk about proposed health care legislation during a forum at Arkansas Children's Hospital in Little Rock, Ark., Aug. 5, 2009.
Arkansas Reps Vic Snyder, right, and Mike Ross talk about proposed health care legislation during a forum at Arkansas Children's Hospital in Little Rock, Ark., Aug. 5, 2009.   (AP Photo/Danny Johnston)
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10 comments
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Unaffiliated
Sep 22, 09 10:59 AM CDT
Has ANYONE in Congress not taken advantage of his position and made shady deals like this? These politicians make me sick. Reply
Vote up! Vote down!
+11
IN RESPONSE:
Robert_Dada
Sep 22, 09 5:07 PM CDT
Agreed. Investigate thoroughly and if found guilty, imprison his *ss and fill his empty seat with a REAL progressive.
Vote up! Vote down!
0
BlahBlahBlah
Sep 22, 09 11:03 AM CDT
Corruption is not exclusive to Democrats, Republicans, Blue Dogs, Neo Cons, or any other politician. They are all a little shifty. Reply
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+14
IN RESPONSE:
Reader64481089
Sep 22, 09 11:16 AM CDT
This is exactly why they need Term Limits to cut off the Gravy Train and put power back where it belongs, the American People not the fat cats and crooks who run this country, how much before all people finally decide we have had enough
Vote up! Vote down!
+5
IN RESPONSE:
Guava_Jelly
Sep 22, 09 11:38 AM CDT
Agreed. No doubt corruption on both sides...sounds eerily similar to the Rezko story
Vote up! Vote down!
+3

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