Watchdog seeks probe into sale of (bluedog Dem) Ross drug store

[ProSense]

Watchdog seeks probe into sale of Ross drug store

By ANDREW DeMILLO, Associated Press Writer

<...>

The group Citizens for Responsibility and Ethics in Washington questioned in a complaint whether the $420,000 that USA Drug paid Rep. Mike Ross for his family-owned Holly's Health Mart in Prescott was a fair price. The deal was first reported this week by the Web site ProPublica.

Documents show that, after the sale, the Nevada County assessor valued the property at $263,700. An appraiser hired by ProPublica valued it recently at $198,000.

Ross on Wednesday called the complaint a "bogus ... political stunt" and has said there was nothing improper about the sale. He said the $420,000 transaction reflected a 4 percent annual return on a $316,000 investment he made in 1998.

According to the Web site, USA Drug owner Stephen L. LaFrance also paid Ross and Ross' wife, Holly, between $500,000 and $1 million for the pharmacy's assets and that Ms. Ross was paid between $100,001 and $250,000 to not compete with the new owners.

more

[DrToast]

1. LOL

Ross on Wednesday called the complaint a "bogus ... political stunt" and has said there was nothing improper about the sale. He said the $420,000 transaction reflected a 4 percent annual return on a $316,000 investment he made in 1998.

I sure hope this type of assumption isn't legal, because it's certainly bullshit.

[ProSense]

3. Wonder how long it took him to come up with that? n/t

[polichick]

2. Oh boy - now Rachel can have more fun with this. nt

[SoCalDem]

5. He's going to regret his stance on health care

and he'll probably be looking for a job soon..

[rmp yellow]

4. Ross should resign

He looks out for business instead of consumers.