Is there something else going on with the ‘Badlands’ businesses

First off Mr. Brennan claims he has to pull up shop of DLC and his businesses because of the success of the 36% cap passing. This may well be true.

The news media has reported that it may be that the Badlands businesses may not have been viable on there own. This may well be also true.

But could there be a third scenario? As Brennan has said, he has to close not only his DLC’s in South Dakota but his businesses.

Is what he is really saying, as the media has suggested that the DLC in South Dakota was floating his Badland businesses because they could not float themselves?

But the bigger question is, can business A float business B legally (for tax purposes, losses, profits, etc.) if they are owned by the same person but under different umbrellas?

Don’t know, but one wonders if the IRS is asking the same questions.



11 comments ↓

#1 scott on 01.02.17 at 9:22 am

a quick look at the county website shows that property taxes have not been paid for 2016 on the r&r academy and scott hoy buildings.

#2 The D@ily Spin on 01.02.17 at 10:26 am

The whole thing was fast and furious in and out. Who can’t make money on 36% interest? I noticed their guns were double the price and all used in the largest retail space in town. Guns are worth double in Mexico. 20% can be shown as shoplifted. The IRS rarely questions a business that fails the first year. It’s easier to make money going out of business than hanging around for small profit.

#3 The D@ily Spin on 01.02.17 at 10:41 am

First Premier has floated Sanford Hospital and the city for years. It’s legal. What’s not is floating assets back and forth to make each look healthy. Denny Sanford enterprises might be struggling. Credit cards are unpopular and being replaced with Bitcoin, IPay, and smaller bank debit cards. Obamacare isn’t working for the hospital.

#4 Scott on 01.02.17 at 10:44 am

Keep in mind that even though he’s blaming the law change for closing everything down, he was quietly downsizing Badlands in the months before the election. Salaried people were being forced to go hourly, there were multiple layoffs. The new law just gave him an excuse that hid his incompetence.

And how could he possibly make money? He bought that racetrack for two million or so, and then supposedly spent almost ten million in upgrades. Was the local race community going to increase enough to pay that off? Or be willing to pay higher fees to attend? Unlikely.

#5 mamaseeta@yahoo.com on 01.02.17 at 11:20 am

Making America Great Again and getting a big fat tax write off. But blame the people of SD. Chuck Brennan the Donald Trump of South Dakota.

#6 LJL on 01.02.17 at 12:04 pm

Yes they can. Its how Berkershire Hawthaway and many multi business holdings thrive. Buy up losers and float them while they rebuild or break them out.

Most of Googles ventures are duds, but it takes just 1 to keep them in the black while they find the new winner.

#7 LJL on 01.02.17 at 1:46 pm

BAHAHA…Someone just reminded me that he was giving free BL tattoos….Too bad they weren’t forced to be on their face so we could easily identify them. Should be an automatic disqualify for voting.

Sanford should offer free removals with a First Premiere sign up. 🙂

#8 moses on 01.02.17 at 11:17 pm

So commander will sanford be able to make money at thirty six

#9 Clara Hart on 01.03.17 at 12:05 am

Too much attention has been focused on Brennan’s closure of his businesses and no mention of the people who have become poor and bankrupt due to his business practices. Please let the front page of the Argus Leader focus on the victims of these pay day lenders.

#10 Lights & Sirens on 01.03.17 at 8:18 am

Mike T. Huether Mayoral Library site

#11 The D@ily Spin on 01.03.17 at 11:27 am

They haven’t paid property taxes. It’ll be sold improperly noticed on the courthouse steps. The Huether’s will buy it for a penny and use public money to make it another indoor tennis. The track could become a polo grounds for one percent royalty and visiting kings.