Moreno's Comeback: From Dealerships to Developments

Bernie Moreno, the Republican Senate nominee in Ohio, is preparing to make a comeback to the auto industry. Despite his past as a car dealer being mocked and scrutinized by his Democratic rival, Moreno is now involved in developing a Mercedes-Benz dealership in the Columbus area. This move comes as Moreno has claimed to have divested from all his businesses to avoid conflicts of interest during his campaign to unseat Democratic Sen. Sherrod Brown.

Navigating the Twists and Turns of Moreno's Business Ventures

Divesting for the Campaign Trail

Moreno has stated on several occasions that he sold off all of his businesses to avoid conflicts of interest as he vies for the Senate seat. However, a recent personal financial disclosure statement reveals that Moreno has identified himself as a manager of two companies, including a realty business that he lists as an asset. These companies, according to public records, are developing a Mercedes-Benz dealership.Moreno claims that because the realty company is not yet generating revenue or providing income, he does not consider it an operating business like those he divested from as part of his campaign promise. He maintains that he has "got rid of all [his] operating businesses, anything that would have given [him] a conflict."

The Sunbury Dealership Project

Construction on the Columbus-area Mercedes-Benz dealership is not expected to break ground until around the time of the November election, Moreno said. However, records show that in April, weeks after Moreno won the Senate primary, his realty company, M20 Realty, acquired land in Sunbury, a suburb north of Columbus, for $9.5 million.Around the same time, Mercedes-Benz Financial Services USA entered into a mortgage agreement with M20 Realty, and Moreno signed the mortgage as a manager for the company. He also signed a landlord/tenant agreement between M20 Realty and M20 Motors, the company that will operate the dealership, on behalf of both companies.Moreno claims that the Sunbury project has been in the works for four years, dating back to before he sold his last operating car dealerships to focus on a blockchain venture. He sold his shares in the blockchain company, Champ Titles, last year, netting more than $5 million, according to his 2023 financial disclosure form.

Navigating the Political Landscape

Moreno's business dealings have come under scrutiny from his Democratic rival, Sen. Sherrod Brown. Brown's campaign has run ads that play on tropes about dishonest car salespeople while characterizing Moreno as an unprincipled businessman who mistreats employees, citing past lawsuits over workplace discrimination and overtime pay against his companies.In response, Moreno has framed Brown as a career politician too closely aligned with President Joe Biden and Vice President Kamala Harris, the Democratic presidential nominee, to be trusted in a state where Trump beat them by 8 percentage points. Moreno has also sought to neutralize the Democratic attacks on his business portfolio by pledging to avoid conflicts of interest if elected to the Senate.