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Palin Didn't Sell Alaska Plane on EBay

By Jeralyn

Sarah Palin touted her business savvy in her acceptance speech. As an example, she said she put a jet purchased by her predecessor on EBay, leaving the impression she sold it through EBay.

The plane failed to sell on EBay. It was purchased by a private entrepreneur for $300k less than the broker's price.

And, turns out, the plane was used to transport prisoners, not just for the Governor's travels.

Update: Sen. John McCain perpetuated the misleading story today, falsely saying she sold the jet on EBay for a profit. There actually was a half-million dollar loss. [More...]

"You know what I enjoyed the most?" McCain said in Cederburg, Wisconsin, according to ABC News' Bret Hovell. "She took the luxury jet that was acquired by her predecessor and sold it on e-Bay. And made a profit!"

The jet was purchased for 2.7 million. It sold for 2.1 million to a private entrepreneur, at a loss of around half a million dollars. There was also a broker's commission. More:

After going unsold for months, the jet was put into the hands of Turbo North Aviation, an Anchorage aircraft broker, which put an asking price of $2.45 million on the nearly $2.7 million jet. It quickly sold to Alaska businessman Larry Reynolds for $2.1 million ($31,000 of which went to Turbo Aviation).

She used the jet as an example of her business acumen and her successful role as a reformer and cutter of government costs.

As I said at the outset, it was misleading. She created a false impression.

And John McCain is spinning the misleading impression into a false fact.

Full post as published by TalkLeft on September 05, 2008 (boomark / email).