Another Strike in the Bowling Story

Rochesterturning reports that Jack Moran, the proprietor of Roseland Bowl, is a former chair of the Bowling Proprietors Association of America, an association which gave $55K to mostly Republicans in the 2006 cycle. Randy Kuhl wasn't one of them.

MyDD has also picked up this story. What both sites seem to be missing is that this is a loan guarantee, not a loan. If Roseland pays back the loan, the loan will cost the government nothing. Because the government guarantees the loan, Roseland benefits by having a lower interest rate.

What's fishy about this particular transaction, if anything, is that the loan was guaranteed by the Department of Agriculture through a program that's supposed to benefit rural development. I don't view Canandaigua as a rural location, but it probably technically fits the standards of the loan guarantee program.

As Vincent points out in a comment on this morning's post, this transaction assured 36 jobs in Canandaigua without costing the government a penny. I think locals will view that as a win, and that's how Kuhl will get re-elected.

Update 4/6: Today's Washington Post has a story on the USDA loan program that explains its broad definition of "rural". Besides Canandaigua, Cape Cod and the suburbs of Atlanta and Tampa are "rural" by the USDA's definition.

Comments

Thanks for the clarification of the loan guarantee versus loan thing.

Besides Canandaigua, Cape Cod and the suburbs of Atlanta and Tampa are "rural" by the USDA's definition.

Martha's Vineyard, no less. The fact that a famous restaurant on Marth's Vineyard got one of these is truly atrocious.