Less Business, More Politics for Buchanan

19 Nov 2008 // Vern Buchanan is out to shed more of his stake in the business community as he prepares for his second two-year term in office.

Following his election, Buchanan, R-Longboat Key, said the string of lawsuits filed against him and his businesses were a lesson. He said his aim now is to sell more of his business empire to curtail the people who might target him for legal action to embarrass him politically.

Buchanan and his companies were sued by several former employees and customers alleging consumer fraud and campaign violations. Buchanan has denied the charges and his companies have sued Duane Overholt, a consumer advocate working with some of the people who have sued Buchanan.

“We’re going to reduce my exposure,” said Buchanan who had more than 60 businesses, including 19 car dealerships two years ago.

Buchanan is down to less than a half-dozen car dealerships and hopes to sell others. Given the state of the auto industry, Buchanan said he wished he sold them off two years ago.

Also, keep an eye out for possible new committee assignments for Buchanan in the next Congress. With fewer Republicans returning to the House, there will certainly be a reshuffling of committee assignments. Buchanan said he’s in no rush to change his committees, which include Transportation, Veterans and small business, but if another plum spot opens up he’ll look into it.