Biden’s ‘good friend,’ donor receives $20M federal loan to open foreign luxury car dealership in Ukraine

Christopher Bedford
The Daily Caller
8/17/2012

In late July, John Hynansky — a longtime friend of Vice President Joe Biden, and a major donor to Biden’s campaigns as well as President Barack Obama’s — was awarded a $20 million taxpayer loan to build a foreign-car dealership in Ukraine.

According to a public summary document, the loan, from the federal government’s Overseas Private Investment Corporation, is for “[u]p to $20.0 million,” and is designed to “expand Winner Import Ukraine’s automobile business, [and] construct and operate ‘Winner Autocity,’ which will have two new, state-of-the-art dealership facilities for Porsche and Land Rover/Jaguar automobiles.”

Porsche is a German-made luxury and sports car, and Jaguar Land Rover is a British luxury and sports car company owned by an Indian subsidiary.

Under “U.S. Economic Impact,” the summary document says, “This project will have a positive developmental impact on the host country, Ukraine. The project will generate a significant number of new local jobs. Running a dealership for premium automobile brands requires a highly trained sales force, mechanics, accountants, communications and advertising specialists, IT specialists, service personnel, warehouse managers, and customer relations specialists.”

Along with his family, Hynansky also owns car dealerships in Pennsylvania and Biden’s home state of Delaware…

The article continues, with video, at The Daily Caller.

 

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