the scoop on farmer chimpy's "timber" company

The enterprise might not be exactly a traditional "timber" company with chainsaws, but more of a tree nursery.

Soon after farmer chimpy's Lone Star Trust bought the pig farm in Crawford, a small amount of acreage (5-10 acres) was planted in live oaks trees and an irrigation system was installed.

The plan was to raise and market historical commerative trees from the famous/infamous ranch. Let the seedlings grow for a few years, then sell the trees to republicans for big bucks to plant in their yards. Want some wood? You too can have a tree from the western white house.

Not a logging operation, but it would meet the defination of timber usage in the Texas property tax code and qualify for an ag/timber exemption.

Farmer Chimpy and his Lone Star Trust should have filed this item on IRS form 4835, Farm Income and Expenses. Farm income good, logging interest bad.

note: sorry no link to this theory, read it in a newspaper a long time ago, hope it went into the save stack.

This may be the first legitimate thing he's done in his life.

IIRC tree farming does fall under the definition of logging, not farming. The IRS does this so they don't have to go through every tree operation and go "is this operation selling live trees for ornamental purposes (nursery), live trees to forestry operations (farming) or cut-down trees (logging) and when the tree farm cuts up the ones that die on their own and sells them as wood are they doing waste disposal or logging?" If you grow trees, you're considered a logger. It's easier for them that way.

Kerry messed up his business plan. Trade secrets can now be stolen and those doggone trees may not be the nest egg he had hoped for.

And, I'm sure it is President Clinton's fault that he had to report the $84.00 as income.

Here is the real story behind the Timber Company.

http://factcheck.asc.upenn.edu/article.aspx?docid=265

the live oak tree farm on the pig ranch does exist. about $250,000 is invested in this project.

oil man chimpy also gets about $200 a year in oil checks from one lease in west texas from his previous years in the business, not a stellar record.

NT

Senator Kerry was obviously refering to the $84 Bush reported on his 2001 Federal Income Tax Return on his Schedule C-EZ (http://www.tax.org/THP/Presidential/2002-9736-1.pdf) Bush's 2001 tax return with $84 entry on page 5 of the PDF. It shows The Lone Star Trust's principal business as being oil and gas production, which it was when this blind trust was formed. The statements 6 & 7 the C-EZ refered to are not shown on this link, but they should give a break down of the actual source of receipts and expenses - still looking for those.

This entry appears on Bush's financial disclosure form for 2003 (http://www.opensecrets.org/pfds/pfd2003/N00008072_2003.pdf on page 14):

Page 8, Item #9 - LSTF, LLC, a limited liability company organized on 02-10-03 for the purpose of the production of trees for commercial sales. Company is owned equally by The Lone Star Trust (George W. Bush, Grantor) and John Taylor. No commercial sales are anticipated until the year 2007.
100% of Assets consist of:

Wells Fargo Bank - chg Value $6,386 Income $0
Inventory - Cost of trees Value $219,538 Income $0

(link below)

Since this LLC was formed in 2003, it doesn't seem it could be the same company as reported in 2001.

Any idea which one reflects the Crawford pig farm turned nursery?

Also, does anyone know, is this the same John Taylor that Bush appointed as Undersecretary of Treasury for International Affairs?

13 August 2004

From Chimpy and Pickles Remarks at Ask The Dimwit Event with Small Business Owners.

Southridge High School - Beaverton, Oregon

We're with Kathy Lacomte*. Kathy is a tree grower. (Applause.) Yes, there's a lot of trees. (Applause.) So what kind of trees?

MS. LeCOMPTE: We grow trees from seed, and we support the Christmas tree farms, the timber industry, and the wholesale nursery industry here in Oregon.

THE PRESIDENT: Very good. You're the seedling provider.

MS. LeCOMPTE: I'm the seedling provider. You're the seedling grower. We could work together.

THE PRESIDENT: See, I told her we have a tree farm on our ranch in Crawford. (Laughter.) It turns the trees -- seedlings she raises won't survive where we live. (Laughter.) Let me ask you: employees, give us a sense for your business.

http://www.whitehouse.gov/news/releases/2004/08/20040813-7.html

In August of this year farmer chimpy was telling the friendly audience about his tree farm on the family ranch in Crawford. Farm, ranch, which is it? Smells like a corporate operation to me.

The Lone Star Trust, po box 3362, Midland, Texas 79792-3382 is owner of record of the 1580.22 acres and the house(s) in McLennan county (crawford). CA Blunt, Wm Rankin, J McKnight and G Green, trustees.

The principal business of the Lone Star Trust is oil and gas production??? The Lone Star Trust is where chimpy put his ill-gotten baseball money. Fun fact: during his legendary days in the oil bidness, chimpy never found any oil. There's a small mineral interest in Reeves County that would pay about $84 a year in royalties. That's about it, no JR Ewing here.

The tree nursery - LSTF LLC formed in 2003 for the production of trees for commercial sale. Lone Star Trust, chimpy (grantor) 50%, John Taylor, 50%. Not a clue if this is John B Taylor. Happy name for a tree farm.

Inventory - $219,538. At $2 per seedling, that would be over 100,000 baby trees. Available in 2007, imagine a four year-old live oak from the western white house in your yard. Watch the party faithful line up to buy freedom trees for $249.95 in four easy payments.

So... Capt. Busharoo can't remember his own wood farm?

Alzheimers, anyone?

Why doesn't he just sit around signing American flags to sell? It's not like he's running the country because he's obviously not capable.

Nuff said. just wanted to see my new signature pic

I think I will steal the pics and send them to my freeper uncle although he won't understand the references. ;)