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Janklow's Real Talent--Finding Hot Deals

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2 Gov. Bill Janklow bought three Jeep Grand Cherokees that had been seized as evidence in a federal auto-theft case after personally negotiating prices thousands of dollars lower than their market value, according to state and federal officials.Janklow purchased the used sport-utility vehicles - two 1997 models and one 1996 - in May 2000 for a total of $38,880.Their combined cost in 2000 could have reached as high as $64,000 if purchased from dealers or individuals, according to a consumers' guide of used-car prices published that year.

3 Thoms said Janklow paid $14,440 each for the two 1997 Jeeps, buying them from the Motor Insurance Co. of Atlanta, a division of General Motors Acceptance Corp. The May 2000 edition of the "NADA Official Used Car Guide" shows that a similarly equipped Jeep Grand Cherokee Limited in good condition retailed then for more than $22,000. The governor paid $10,000 for the 1996 model, buying it from Nationwide Mutual Insurance Co. of New York. The used-car guide listed the May 2000 retail value of that vehicle at more than $20,000.

4 Insurance agents working in the Sioux Falls area said they were surprised the out-of-state companies would sell vehicles to an individual rather than use an auction. Insurers usually sell salvaged vehicles to reclaim money toward the cost of settlement payments they've already made to owners.

5 And, Janklow's response is pretty well summed up in the following: "Janklow told the Associated Press he found out the Jeeps would be sold the same way anyone else could have. "I read it in the newspaper," Janklow said, referring to a May 2000 article in the Rapid City Journal. "That's how I found out about it." South Dakota Attorney General Mark Barnett told the Argus Leader that the governor did not break any laws but that his office was reviewing the purchase."So far, I have not seen anything out of line, illegal or improper," Barnett said."6 That is the gist of the story. The two stories in the ARGUS probably filled nearly a half page of the paper.Check the links for the full story, or better yet, buy today's Argus and file yesterday's if you have it. What the ARGUS did not do was discuss any of Janklow's other really hot deals he has managed to find...or at least those that became public. These have included a really hot deal on oil stock which he expected would do phenomonally well...something like doubling or tripling in value in a matter of days. Unfortunately, the deal was apparently not quite that good. So Janklow got into the State Airplane and flew out to Colorado if my memory is correct and tried to sue because he did not get a return on his investment (which also really wasn't his, a friendly banker had apparently loaned his something like $250,000 without any collateral besides Janklow's "good" name)..as great as expected. It was a return that a prosecuting attorney looking at a similar case for you or I would suggest it was totally unbelievable or must involve stolen property. Anyway, don't know how that all turned out..other than it became semething of an election issue.

7 But, Janklow has made some other amazing deals like buying gambling stocks at just the right time and then selling them at just the right time. A broker and lawyer , if my memory is correct, both got into some very serious professional and legal trouble because they released some of the details of Janklow's magical talent for precise timing....which to the untrained observer might be alleged to have more to do with the pending legislative or court decision than it did with an astrological determination of incredible luck.

8  So, what should Janklow do if he does not get elected to the US Congress in the coming election? Let me suggest that he start a buying club of some kind so that those of us who do not routinely make $700,000 a year might benefit from his extraordinary talent for finding extraordinary details. So, take your opportunity to comment on this seriously. A copy of this will be at another site designed for commenting. Click on the link below. Then when the QuickTopic page opens,, at the top, or perhaps at any paragraph you find interesting if that option works. --------- Douglas Wiken.