In today’s episode of Inventing Herschel, it turns out GOP Senate candidate Herschel Walker has been out here boasting about what a great businessman he is while, in reality, his businesses have not been paying back loans, he’s been exaggerating about how many people he’s employed and his businesses have been facing lawsuits and serious net losses because Walker is more cap than capitalist.
According to a report by the Atlanta Journal-Constitution, “the Republican Senate front-runner boasts of creating several successful businesses and hundreds of jobs” and he’s looking to ride that reputation all the way to Raphael Warnock’s Senate seat.
“Whenever Georgia needed somebody to speak up for their businesses, they called Herschel Walker,” Walker said during a recent rally in Dahlonega. But AJC has taken a deep look at his business record and its findings might have “Georgia” saying, “Bruh, I don’t even know you and keep my name outcho mouf.”
A review of court records and other public documents shows that Walker has been telling Tinder Swindler-level lies about the number of people his companies employ, the sizes of his businesses, and the assets they own.
“The review also revealed a string of defaults, settlements, and lawsuits alleging that Walker and his businesses owed millions of dollars in unpaid loans,” AJC reported.
Walker has attached his name to at least 12 businesses and claims status as a job creator. For example, Walker reportedly valued H. Walker Enterprises, his largest holding, at between $25 and $50 million. He also reported that it generated roughly $3 million in income for him in recent years.
“Commitment to excellence demonstrated in my athletic achievements is now incorporated into my business endeavors,” Walker says on the company’s website.
The company “serves as an umbrella for most of his other business ventures,” AJC reported, and one of those businesses is Renaissance Man Food Services, a poultry products and distribution company he’s referred to as a “mini Tyson Foods.” He claimed in 2009 that he employed more than 100 people at the company and more recently, he upped that amount to more than 600 employees. He also said the company grossed $70 million a year. But during the pandemic when the company was applying for Paycheck Protection Program loans from the federal Small Business Administration, Walker reported having only eight employees at the company.
It turns out his claims of employing hundreds of people referred to the chicken distributors he bought his product from, which are not part of his business. So when he got sued in 2018, Walker walked back all of that bragging about making it rain jobs by admitting that he doesn’t own any of his suppliers.
“I don’t mean to speak of ‘own’ in a technical sense,” he said in court.
Beyond all of that, AJC reports that “Walker and various business partners have defaulted or fell behind in payments on at least eight loans totaling $9 million over the past two decades.”
Renaissance Man Inc., a health food company Walker founded in 1997, had net sales of $52,679 in 200 and $4,676 in 2001, and it had net losses of $900,606 and $1,879,626 respectively in those years. In 2002, the company merged with American Consolidated Mining Co. and was renamed American Consolidated Management Group (ACMG), and Walker took the position of CEO and president of the new company. During his time as CEO, the company fell behind in payments or defaulted on at least five loans amounting to a combined $8.2 million, resulting in more lawsuits. In 2005, the company was sued by a creditor alleging the company had failed to repay an $800,000 loan. Another lawsuit by a marketing firm claimed the company owed them $570,000. Both suits were settled for far less money than the plaintiffs claimed they were owed.
Anyway, the list of Walker’s business failings goes on, but the moral of the story is, Herschel be lying.
The man’s campaign was already caught lying repeatedly about Walker graduating from college, and Walker himself once promoted a magic mist one can spray in their doorway that will “clean you of COVID” when they walk through it.