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October 9, 2004

Need some wood?

PRESIDENT BUSH: I own a timber company? That's news to me. (Laughter.) Need some wood? (Laughter.)


LTSF, LLCLone Star Trust (50% share) → George W. Bush.

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.

It turns out that the $84 in 2001 income Kerry refered to, which qualifies Bush as a small business under BC04's generous definition, did not in fact come from this commercial tree business that Bush apparently hadn't realized he owns a 50% share of (I suppose it is held through a blind trust). Rather, it came from (where else) the oil industry.

"Need some wood?"
Posted by Dan at 11:31 AM


Referenced in this post:

FactCheck.org: Are Bush and Cheney 'Small Businesses?' Their Ad Counts Them As Such
FactCheck.org: Page from Bush's 2003 financial disclosure form, showing he owns 50% of a company formed 'for the purpose of the production of trees for commercial sales.' (PDF)
Google Search: Bush 'Lone Star Trust'
Investor Words: Blind Trust
North Country Public Radio: Bush in the Adirondacks
PR Newswire: Remarks by President Bush and Senator Kerry in Second 2004 Presidential Debate