Legit... Are you asking generally about Mike Francese, or something specific he says in the interview? (I crossed paths with him and some crew years ago - on opposite end of the spectrum, when he was running his gas distribution gig)@antisocialist Re:
Federal tax on bulk purchase, through special connections (Ruskies...😎), then able to distribute for a lower cost directly to Gas Stations, that in turn made a larger profit through buying from him.Hey FBA @antisocialist, sorry I'm so late getting back with you; I've not been on here every day lately. Yeah... Basically, Michael F. was mostly just avoiding
Generally, station owners only made a few cents profit per gallon sold at the time, and not much better now - from what I hear. The bulk of profit from sales goes to the Big Oil Companies and Government...
One problem was the fill station owners under contract with major suppliers like Shell, Mobile, BP etc. that mandated their own brand be bought and sold exclusively. Therefore, owners of non-independent stations could only buy the cheaper bootleg gas in smaller quantities, because they still had to order at least some deliveries from major oil companies in an attempt to thwart suspicion. Otherwise, Mike would have been making even bigger money than the boatloads he made.
Problem was, as the major suppliers began seeing their sales dropping off on a steady basis, they knew something was amiss. They began independent investigations finding pump sales tabulators showing higher volumes than what their trucks actually delivered... They took pump samples for analysis and snuck photos of independent tankers making deliveries - for example.
Some gas stations had the oil companies come in and remove all their signage from the premises under contract. Other stations actually had their leased pumps removed and/or Company owned tanks, ripped right out of the ground.
Off course they got the Feds involved...
The Agents eventually compiled enough evidence to indict Francese, thus unfortunately ending his rather lucrative, private enterprise.
It's only too bad (IMO), that we the consumer always paid the same high pump prices, regardless of who was supplying the fuel... unless of course you could get a direct fill-up from one of the tanker drivers who were skimming a little off deliveries, as a side business...😏
All these years later, I can't say how I know so much about the details of what went on at the time, because it might still be a little dangerous. I don't want ghosts of the past showing up at my door...!!!
Legit... Are you asking generally about Mike Francese, or something specific he says in the interview? (I crossed paths with him and some crew years ago - on opposite end of the spectrum, when he was running his gas distribution gig)@antisocialist Re:
He seemed on the square to me.
I was wondering if you had known him.
That gas thing was genius, imo.
Federal tax on bulk purchase, through special connections (Ruskies...😎), then able to distribute for a lower cost directly to Gas Stations, that in turn made a larger profit through buying from him.Hey FBA @antisocialist, sorry I'm so late getting back with you; I've not been on here every day lately. Yeah... Basically, Michael F. was mostly just avoiding
Generally, station owners only made a few cents profit per gallon sold at the time, and not much better now - from what I hear. The bulk of profit from sales goes to the Big Oil Companies and Government...
One problem was the fill station owners under contract with major suppliers like Shell, Mobile, BP etc. that mandated their own brand be bought and sold exclusively. Therefore, owners of non-independent stations could only buy the cheaper bootleg gas in smaller quantities, because they still had to order at least some deliveries from major oil companies in an attempt to thwart suspicion. Otherwise, Mike would have been making even bigger money than the boatloads he made.
Problem was, as the major suppliers began seeing their sales dropping off on a steady basis, they knew something was amiss. They began independent investigations finding pump sales tabulators showing higher volumes than what their trucks actually delivered... They took pump samples for analysis and snuck photos of independent tankers making deliveries - for example.
Some gas stations had the oil companies come in and remove all their signage from the premises under contract. Other stations actually had their leased pumps removed and/or Company owned tanks, ripped right out of the ground.
Off course they got the Feds involved...
The Agents eventually compiled enough evidence to indict Francese, thus unfortunately ending his rather lucrative, private enterprise.
It's only too bad (IMO), that we the consumer always paid the same high pump prices, regardless of who was supplying the fuel... unless of course you could get a direct fill-up from one of the tanker drivers who were skimming a little off deliveries, as a side business...😏
All these years later, I can't say how I know so much about the details of what went on at the time, because it might still be a little dangerous. I don't want ghosts of the past showing up at my door...!!!
I had to take some time away, too.
Sounds like that guy did it right.
Tax evasion is just the 'murican way, iyam.