NM auto dealer tried to save business by gambling

Sun Nov 8, 2009 7:48 PM EST
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ALBUQUERQUE — A former Albuquerque auto dealer, faced with an ailing economy and difficulty getting credit for his dealership, says he turned to gambling last year in a bid to salvage the business.

Ken Zangara racked up a $250,000 gambling loss just months before he closed his dealership in February. He says he was trying to win enough money to save the business.

Zangara and his wife filed for a Chapter 7 bankruptcy Oct. 20.

Zangara Dodge closed its doors Feb. 17, citing the economic crisis and loss of its primary lending source.

At the time, Zangara Dodge was under investigation by the state attorney general's office for numerous consumer complaints over alleged illegal business practices.

Zangara has been recognized for his support of local charities and was involved in politics.

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Information from: Albuquerque Journal, http://www.abqjournal.com

© 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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{"commentId":10565738,"authorDomain":"Randilly"}
Randilly

Finally, Zangara Dodge makes a believer of me.

{"commentId":10565738,"threadId":"719837","contentId":"3475417","authorDomain":"Randilly"}
  • 1 vote
Reply#1 - Sun Nov 8, 2009 8:22 PM EST
{"commentId":10568916,"authorDomain":"zayn"}
Zayn

In all fairness to the guy, desperate times call for desperate measures. I'm sure he did this as a last, desperate resort to salvage his livelihood. I remember my ex boss one day walked in all disheveled, ungroomed wearing a

<a href="http://www.footballshirtreviews.com">football shirt</a> aka

<a href=http://www.footballshirtreviews.com">soccer jersey</a>

after they let him go and he was being watched by 3 security personell for fear he would do something stupid.

{"commentId":10568916,"threadId":"719837","contentId":"3475417","authorDomain":"zayn"}
  • 1 vote
Reply#2 - Mon Nov 9, 2009 1:23 AM EST
{"commentId":10569848,"authorDomain":"jimenez"}
jimenez-1459270

Well finally he believe,

{"commentId":10569848,"threadId":"719837","contentId":"3475417","authorDomain":"jimenez"}
    Reply#3 - Mon Nov 9, 2009 6:41 AM EST
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