Slush Fund

Let me tell you about what we call the Slush Fund.  Where does it come from?  What’s it for?  Where does it go?  The Slush Fund is a $200 pad added to every vehicle that Pete Moore Automotive Team sells.  You will need to understand about aging inventory reports.  The oldest car flows to the top of this list.  Every month our job is to sell as many cars off the front pages of the report as we can.  Selling 4,000 to 5,000 cars annually nets you about $1,000,000.  What we do is take this Million dollars and pay down on the cars as far as it will go.  For example:  If each car averaged $10,000 and these 100 cars were your oldest units, then 100 of the oldest cars would come off the aging inventory report.  Translations is you have 100 free cars.

These 100 cars don’t just vanish.  As a matter of fact, they have to be sold before December 31st for tax purposes.  However, they are never sold before December 31st.  They just become invisible.  Wholesalers like myself have to shuffle these cars off before April 15th.  This is an accounting nightmare.  Every year is the same.  Is that car sold?  Yes, but who was it sold to and when will we get paid for it.  These are the questions that Pete’s comptroller Roxanne Sawyer asked Rick Hamilton, General Manager for PMC.  In fact, most of the cars are still setting on the lot. 

In the first 90 days of the new year most of these old age units will be gone but all will be sold by April 15th.  How?  The same way Ford is #1 in truck sales in the world.  They loan their dealers the money to buy their trucks.  Ford buys their #1 ranking spot.  Its slightly different dealing with used cars but Rick sells them to the people he wants to have them.  If they don’t have the money to buy them, Rick will lend them the money, just like Ford does. 

And yes, I can tell you who these people are because I was one of them.  Pete and Rick’s claim that I had “no special deal” is laughable because I was not the only one with this “special old age unit disposal deal”.  I was just the one with the most special deal!  It will come out but I still don’t understand one thing…after these cars were sold, who gets the money.  These are the cars Roxanne referred to as being “written off” in her deposition. 

She states, “Mark Turner did not have a line-of-credit” but in her court testimony she states, “Mark is kept on a separate set of books”.  Does this mean there are 2 sets of accounting books at Pete Moore Chevrolet?  I just wanted to reduce  all the cars down every year to make them more affordable.  The only reason I couldn’t sell any one of them was because of price.  It was explained to me that there are 2 types of accounting systems, one where you make the $10,000 car into a $7500 car, the other where you have to get rid of the cars by the end of the year.  Everyone else has the system that lets you reduce the cost of your inventory.  But Pete being an accountant before becoming a car dealer, wouldn’t he know the better of the two systems?  The $2500 per car reduction could have been applied to 400 cars on our over age inventory list.  But instead, we were privy to 100 FREE cars for immediate liquidation.  I had to have a price offer that was agreeable to Rick and it had to be done before April 15th. 

I thought everything was on the up and up because I just did my job in moving their old inventory.  But it dawned on me when I was sitting in trial and Roxanne told the jury that she had never seen the $205,000 check I gave to Pete.  She stated it was not used in the calculating of my debt.  In fact, she claimed she thought my debt was about $106,000. 

You will see the adding and subtracting going on in my set of books.  This was in the States evidence.  The forensic accountant never got the correct starting figures to calculate my balance.  If he had, he would have seen and provided to the jury the fact that I did not owe Pete any money.  In fact, using Roxanne’s figures, but taking into account the $205,000 check she did not calculate, Pete owed me $99,000.  Remember how the State charged Me with temporary deprivation of Pete’s money?  Does that charge now apply to Pete?  

If you go to Civil Case Link, we do the math for you. 

If you go to Evidence That Should Have Been Shown, you could get it down to the dime. 
If you had a 20+ year business that you didn’t know anymore about than Pete did in his first deposition, you would understand pissing me off is not something you want to do.  When Rick asked Pete for an interest free $500,000 loan to buy his house, Pete told him “No”.  Pete will never know what that cost him.  Why would Rick think he was worth a $500,000 interest free loan?  You would have to ask Pete why he paid half of Rick’s divorce settlement to get him to return to work.
If you start looking for a check that they gave me a mortgage with, you’ll never find one. 

I was paid off with titles from the slush fund.   

If you go to Mark’s Story Link you would understand why they would be better off if I was dead.