The euphemism of the week comes from the crybaby of the year, law-breaking payday-loan millionaire Chuck Brennan, who refers to the schlock-and-crock business operations he is shutting down in his final fit of pique at the state of South Dakota as “a massive community enhancement project“:
In 2015 Chuck Brennan and his team launched a massive community enhancement project called Badlands. This project included the best Race track and outdoor amphitheater ever built in the Midwest. It included a 70,000 square foot “Pawn Shop” that had a foundry, tattoo parlor, deli, gun range, gun store, concert venue, music department, casino, house band, entertainment group, radio station and retail store. It created the best Rock station ever in Sioux Falls in KBAD with #1 ratings for 18 months in a row. It created a state of the art Gun Store with an indoor 14 lane shooting range allowing members of law enforcement to shoot for free. At costs of over $75,000,000 spent mostly with South Dakota businesses, and providing over 400 jobs, it made a major impact.
…Without the financial support of Dollar Loan Center, and with an unknown time line, we must make difficult business decisions.
Effective immediately we are permanently closing the Badlands Entities and putting all of the properties and assets on the market for sale [Statement posted on KBAD945.com, 2017.09.23].
Yo, Chuck: a project that enhances the community doesn’t need to rely on business schemes that break the law and trap vulnerable members of the community in debt.
Brennan is asking $9.45 million for his racetrack, $9.45 million for his pawn shop (not including the inventory and liquor license), $945,000 for the inventory in the gun shop, $945,000 for his radio license, $945,000 for the radio station building.
Of course, Brennan emitted similar whines and squeals last winter, saying he was done with Sioux Falls and South Dakota for daring to cap interest at his loan shark shops at 36%. He vowed last January to put the whole kit-and-kaboodle up for sale… and here he is nine months later, still whining. Gee: when Brennan admits that he couldn’t put together a solid, self-sustaining business model for any of his little playground projects, why would any sober entrepreneur risk an capital in such losing ventures?
The real community enhancement project here is the 36% rate cap, which has sharply curtailed exploitative payday lending in South Dakota and which may, once we resolve Chuck’s crybaby lawsuit against the South Dakota Division of Banking, finally get Brennan to shut up and leave South Dakota for good.