Jul 20 2009
Who Are These Mysterious Benefactors Of Federal Pork?
Hey readers, I could use some help. I discovered this company received $2,000,000 loan from the Small Business Administration – but I cannot find anything on the company at all? Anyone heard of Core Group IC LLC of Iowa? Wonder how they got this cherry deal.
Update: Reader Crosspatch may have discovered what this company is all about – a fitness center.
1395 Jordan Street
North Liberty, Iowa
(Johnson County)Looks like a fitness center.
He further discovered the company takes in $500k a year and covers maybe three people. If this is the same company, how in the world did it get a $2,000,000 loan? Why is the federal bureaucracy wasting our time on this kind of effort. Don’t we have banks and other institutions to make loans?
My problem is I cannot find this company anywhere, including on the SBA site. This is as transparent as mud.
1395 Jordan Street
North Liberty, Iowa
(Johnson County)
Looks like a fitness center.
OK. Not sure how this qualifies as stimulus. Not sure the government should really be in the business of loaning money to small companies not doing business with the federal government.
Why do we have banks, etc?
http://www.uiowa.edu/~provost/elearning/core_group/index.shtml
Could it be this? Assoc with Univ of Iowa?
here is a pdf of a town council meeting where they applied for a wall sign.
No names on it except for city employees.
A little more here
500K in annual sales, apparently 3 employees.
lacegirl,
I don’t think so. I was hitting the same problem since the term ‘core group’ is used everyone to identify the key team, etc.
Apparently they also have another location at:
1555 S 1st Ave
Iowa City, IA 52240
So maybe this loan was to finance expansion to multiple locations.
Accoding to EdgeBusiness magazine, the loan was to create 40 jobs. So it looks like expansion to me.
Thanks CP, but should the federal government be in the business of making loans to fitness centers? Isn’t that why we have banks and credit unions?
What happens when all these small business fail and we are left holding the bag again?
“What happens when all these small business fail and we are left holding the bag again?”
oh, that ones easy – MORE LOANS!!!
Don’t you see, we HAVE to do it – it’s the ONLY WAY to keep from going bankrupt!
“Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.”
“Well, people when I say that look at me and say, ‘What are you talking about? You’re telling me we have to go spend money to keep from going bankrupt?’†Biden said. “The
answer is yes, I’m telling you.”
http://www.cnsnews.com/public/content/article.aspx?RsrcID=51162
Well, the Small Business Administration has been making loans to small businesses for decades. This isn’t anything new. And actually, it is the kind of use of government money that I support.
I would much rather see them lend to a small business that wants to expand and hire people than to simply pay people for not working.
Banks have severely curtailed business lending. Small operators with few employees will find it nearly impossible to get financing for expansion in this economic climate. If my tax money is going to go anywhere, I would like to see more of it going to small business.
Follow the money, find the crook. Disclose who backs the socialists and destroy them economically. Release the donor lists and the affiliated companies. Reverse Jesse Jackson politics.
AJ, I suspect that the real question is how much of that money is being kicked back to the Democrat Party.
This reeks. We KNOW that the Dems funnel our tax dollars to their friends and relatives. Obama’s Porklus Plan put $700+ billion out there…and I would give good odds that every recipient is having to kick back a good deal of money to the Democrats. In quantities just below the legal limit, of course.
Not only does the taxpayer get ripped off, he gets to pay to keep the thieves in power!
http://www.zillow.com/homes/map/1395-Jordan-Street,-North-Liberty,-Iowa_rb/
master wall sign application for Core Fitness at 1395 Jordan Street, North Liberty, Iowa.
http://www.northlibertyiowa.org/city/council/agenda_packet/sept_09_08/core_fitness.pdf
I was just surfin’ around the net and found this. It’s worth a read.
http://www.anderson-chiropracticonline.com/custom_content/127747_Meet_the_Doctor.html
There is a Dr. Kurt Andersen in Davenport (where Susan is from) who gave $1519 to Obama
Anderson Chiropractic is apparently another business in the same building, not necessarily related to Core Fitness.
Crosspatch – regarding pay to play. Interesting article in the Dallas paper today about a long time city councilman, John Wiley Price. He comes from a poor family, never had much of a private career that I know of, has done nothing but be a city councilman for the last couple of decades. Doesn’t seem to be all that high on the political food chain.
Anyway, that’s not what the article was about. The article was about his private fleet of 13 antique or collectible cars and how he gets the county’s help to re-title them when the original title has somehow gone “missing.” One of them is a Bentley, another one is a Lotus.
And all that on a city councilman’s salary. He must really be good at saving his money.
And of course he’s black, so if you question his motives or activities you’re a racist.
Thomas Jefferson that there is no point to paying members of Congress as they should be able to do quite well on graft alone.
I would like to see a bill that eliminates Congressional pensions completely. As it stands now, a person serving one single two-year term in the House gets a lifetime pension. We need to get rid of them completely.
I disagree. It’s far easier to demand integrity from the well-paid. And we MUST have integrity.
What I’d like to see are term limits (12 years in either house, no more than 16 years in Congress), strict anti-graft laws (no relation can be a lobbyist), a real residency requirement (must sleep in your district 183 nights/year), and a requirement that a Congressman who has left office must reside either in the state he represented or 300 miles from Washington for three years.