..and the agent who sold the house is the grandson of Marvin Davis, once one of the wealthiest residents of Los Angeles. His widow sold their family manse recently for something like $50M and moved into the Beverly Hills Hotel (which they used to own). Then she bought a condo in a new highrise for some ridiculous amount of money. Downsizing nonetheless. The agent is marketing his own childhood home for $20M.
Ed and the Davis's went to a lot of fundraisers together so they're tight.
Why do I get the feeling Ed blew his (considerable) earnings at some casino in Las Vegas?
He must have made a TON of money over the years. How does that evaporate (even living a lavish life style)?
Would the public be sympathetic if were shown he gambled it away? Somehow we are supposed to believe Ed just "awoke" one day and found himself dead broke.
No, it wouldn't serve him or the casinos to have him be another Charles Barkley like fool. Perhaps Trump is helping him out because one of his casinos took him to the cleaners, no?
... and watched the Tonight Show while he was there. That's an elite education!
ratefink | 08.15.08 - 3:56 pm | #
Probably a different Wharton than the one you are thinking of (U Penn)... He probably went to the Wharton School of Hair Restoration... the two are often confused.
Trump says he is going to buy McMahon's home, but the first thing that comes to my mind is; Can he afford it? Does he have the cash? Can he get the loan?
Elvis writes: I think Donald Trump might be one of the most alluring men in American.
I think you meant "most alarming men in America"?
Frightening that many people have learned from him what they think it means to be a business-person. He's created more bag-holders in his practice of "business" than the nice lad that works all day packing groceries at Safeway.
Blessed are they that have had much and have appeared on TV as to them much will be forgiven and they will be fed as the lilies of the field and not go wanting. For the rest of you..... get offa the unsightly lawns ya welfare queens.
I once bought a teepee at a foreclosure auction, but to my dismay, when I went to see it for the first time, the thing had been gutted. No appliances, no copper piping. Nothing left inside. I was so angry, I scalped the first person I saw. True story.
OT:
Oh the humanity, the financial crisis just became very real and very dire for cookie lovers everywhere:
"Mrs. Fields says to file for bankruptcy protection" - Reuters
I have no idea about "promoting a book" ... that wasn't me, if someone was doing that.
I don't think it's that hard: I run HousingWire, and CR asked me to fill in a few posts today while he's out hiking. I've always believed in helping friends out....
Thanks for the answer. I swear I saw a guy who was involved with subprime loan warehousing and was releasing a book in a week or two on CNBC or BBerg talking about the mortgage meltdown.
I have got to stop reading blogs a few 'tini's too many deep....
Ed McMahon's house also suffers from the fact that he VERY publicly sued over toxic mold in the house in question. Even though I think toxic mold is essentially bullshit, it certainly would scare any potential buyers away as there probably is a very BIG disclosure on the report to that effect.
PJ - I think nades was refering to Richard Bitner.
also, "The Donald" has not filed a personal bankruptcy, however, I think we can rest assured he's had a hand in plenty of businesses that have been run into the ground (for extra giggles, google "Trump Mortgage").
and, even if we don't get any FDIC action, here's a bit more on the cloak and dagger stuff. Not only pizza, now we need to starting monitoring Toy Store Credit Card activity.
Ah, got it. Richard Bitner was the source of confusion.
Well, he's not been on here promoting his book, but he DOES work for HousingWire and has written a book about his time running a subprime mortgage shop.
Ed McMahon's house also suffers from the fact that he VERY publicly sued over toxic mold in the house in question. Even though I think toxic mold is essentially bullshit, it certainly would scare any potential buyers away as there probably is a very BIG disclosure on the report to that effect.
if there is true toxic mold it is some BAD BAD stuff. I used to think it was overblown as well. (I'm a doctor).
I have had a few cases this year where my patients had really odd ailments and we couldn't figure it out forever. The latest one is a kid who has suddenly developed REALLY odd severe breathing problems(requiring going to the intensive care unit). The diagnosis was finally made when I asked the mother "where does he sleep?" (thinking maybe it was carbon monoxide or radon or radiation or something). She said "his bedroom is great, although the walls turn black once a year each spring... I just wipe it down with Chlorox and it goes away!" (she didn't know it was toxic mold.)
I also had my own run-in with toxic mold on a house on my block (went FC last year, pipes blew, mold in basement). I literally got super sick while being in the home just for a few minutes. I had a horrible hackng cough, severe pounding headache, and got dizzy and vomited after being in the home for less than 5 minutes.
as always though, people use a real problem (toxic mold) and sue like crazy just to get money even if they just have regular mold.
PJ - Your responsibility on Fridays for CR is to monitor the FDIC PR page full time for bank failure announcements. Hope CR let you know. It's a critical job skill.
Once again the heartless Tanta piles on. How dare those damn fools use the easy money tools provided by the bankers. How dare they believe the marketing hype?
Really - they all deserve their fate. Everyone from the subprime slime to Ed McMahon... from Mozillo to the silly bondholders and shareholders. Everyone from Starbucks and Bennigans. Everyone from IndyMac, WaMu, Citi, Countrywide, etc etc.
Those silly people - may they rot in foreclosure hell. No bailouts and no safety net. Throw the bums out!
There are no innocent people, just speculators getting what they deserve!
"There are no innocent people, just speculators getting what they deserve!
Paul"
Just put everybody on the dole, Paul, because one person might deserve it. And, let the pedophile watch your kids, he served his time. I'm sure he doesn't do it anymore. It was a one time mistake.
Typical grandstanding from Mr. Combover. There are plenty of people who have fallen on hard times that are more deserving of help than Ed McMahon, who recklessly refinanced his house for far more than he paid for it so that he could continue living the high life. Wait until he stiffs the Donald and Trump as to evict him. That'll be a story!
Hershey Co. said Friday it plans to raises prices on its products by an average of 11 percent as it tries to stem the impact of soaring commodities costs, and trimmed its projections for 2008 and 2009.
Yearning to Learn wrote: as always though, people use a real problem (toxic mold) and sue like crazy just to get money even if they just have regular mold.
I live close to John Edwards, he will be right over to channel the mold to a jury.
where is todays bank failure...with CR on a hike you would think several would go down.
btw, what's wrong with Billy Mays a.k.a the Oxyclean guy? I bought 4 wall hooks from him last week for just 19.95, oh and a small 30 dollar S snd H fee.
btw 2, going to be a nice sunset tonight. liitle hazy but still good.
Elvis writes:
"I think Donald Trump might be one of the most alluring men in American"
... you have a point there: in the meaning of the word "LURE" (in alluring) that is:
1- an inducement to pleasure or gain (enticement, appeal, attraction)
2- a decoy for attracting animals to capture, as an artificial bait used for catching fish or an often luminous structure on the head of pediculate fishes that is used to attract prey (merriam-webster)
too bad the style is so crass
As for his talent in business: I would want to him start from $=0 and make it on his own in order to demonstrate that.
Mrs. Fields is a private company that offered publicly registered debt. It's an example of a wave in mall-based franchising of marginal concepts that peaked a few years ago and now is officially dead.
Almost all of their cookie and TCBY yogurt stores are located in malls (regional or strip). And almost all are franchised. There are more than 1,000 franchisees who paid up to $200,000 to buy a franchise and get it off the ground and (maybe) up to profitability in the good years. Now, most of them are screwed and will probably lose almost everything. All they have left is a mall lease.
There's nothing inherently wrong with franchising. It's a way for uncreative but hard-working people to become their own jefes. But all franchisers have all their real equity and sweat equity tethered to companies that may be focused mainly on leveraging up debt, stripping out profit, and ultimately walking away when the concept fizzles.
When this is over, the franchsing dream and biz will never be the same again. Most mall-based franchises will be gone, and a lot of jefes and their employees will be bitter and broke.
How many financial institutions can the FDIC take over in 1 Friday raid ? They are still operating IMB so at least some of their resources are consumed there. Can they be overwhelmed ?
In today's airtight, HVACd and tyvek'd houses, all mold is toxic mold. Whether it's bad design or bad construction, flaws get magnified immensely.
OT
Just spent the last few days driving rt 60 along the Santa Fe line and was amazed at all the westbound traffic; 95% container and 5x busier than eastbound. Once I got on I-44 there wasn't much truck traffic in either direction.
JMS writes:
OT:
Oh the humanity, the financial crisis just became very real and very dire for cookie lovers everywhere:
"Mrs. Fields says to file for bankruptcy protection" - Reuters
JMS | 08.15.08 - 4:45 pm | #
I bet CSC has a recipe or two that would send them on a growth trajectory...
Ministry of Truth writes:
rich, I do agree the franchaise boom of the 2000's is over. All leveraged debt and a low profit model.
It was part of a lifestyle where Americans would spend all day at the mall. They would eat breakfast at McDonalds, lunch at Ms. Fields, and dinner at Ruby Tuesday. In between, they would waddle around and buy crap.
This is what America had left after all the manufacturing jobs went overseas. Just a synthetic mall-based existence. I'm glad it's over.
I could care less about Trump's hair or the reason for McMahon's troubles. But I do have to chuckle when the media attributes McMahon's troubles to not being able to work in the past 18 months.
Why should Trump feel so bad? McMahon was rich most of his life and spent his money stupidly yet Trump wouldn't think of helping the average guy with children who really could use the aid. Reminds of those companies who give these swag bags full of thousands of dollars worth of stuff to rich Hollywood types yet wouldn't think to give any to average folks. This countries warped.......
Genevieve,
Forbes estimated Trump's net worth a few years ago at $1.5 Billion. His father (who reportedly did start with very little), was reported to have been worth about $500 million around the time we first heard about Trump, 1981 or so. If Trump had taken half his father's money and put it in an index fund, he'd have a lot more money ($2.3 billion or so) than Forbes says he had during the recent boom.
But, he wouldn't be a celebrity.
BTW, Trump is a VERY good golfer. I'll give him credit for that.
It would be reasonable to assume that the Bank doesn't want the bad press of evicting Fat Ed so the Bank is selling it way cheap to Trump. Trump probably views this like investing in viatical settlements. The sooner Fat Ed dies the sooner he can resell the place for a profit. I think the over/under on Fat Ed would be 24 months.
If Trump had taken half his father's money and put it in an index fund, he'd have a lot more money ($2.3 billion or so) than Forbes says he had during the recent boom.
And most of people who invested with him would have had a lot more!
so what happened to:
"Pour vivre heureux, vivons cachés" (French for "to live happy live hidden")?
but I guess that is more the philosophy of a trader.. well that figures
This story is hardly of great interest to me but I did see him interviewed on TV. He said he faced foreclosure. He didn't say he couldn't make the payments. There is a difference.
In today's RE speak maybe he really was saying he didn't intend to make the payments.
At some point he had refinanced and put quite a nice piece of change in his pocket. He paid $2.6m in 1990 and now owes $4.8m.
Ed had been trying to sell it for two years for more than the $4.8m he owes and couldn't.
With no equity to lose perhaps he had decided to walk away. A lot of borrowers have.
This is trivial money to Trump who recently sold his Palm Beach house for some fabulous sum I am too lazy to look up.
Trump gets good publicity and buys the house for less than is owed - the bank being glad to be rid of it. Sooner or later Ed dies. Or not.
Talk about "Freaky Friday on the real estate front"
dios mio..
............
What are the terms of the lease? To sit next to Trump during the next season of the Apprentice and chuckle at his lame jokes?
To sit next to Trump during the next season of the Apprentice and chuckle at his lame jokes?
I'd rather foreclose....
...........
..and the agent who sold the house is the grandson of Marvin Davis, once one of the wealthiest residents of Los Angeles. His widow sold their family manse recently for something like $50M and moved into the Beverly Hills Hotel (which they used to own). Then she bought a condo in a new highrise for some ridiculous amount of money. Downsizing nonetheless. The agent is marketing his own childhood home for $20M.
Ed and the Davis's went to a lot of fundraisers together so they're tight.
CR goes all TMZ on yo' a**
OT but we could use some good news and its difficult to come by now a days...
For a bit brighter picture of America i just found these two...
Alt Energy:
SunPower rallies on role in giant PG&E solar project - MarketWatch
Forbes.com File Not Found
...............
Trump went to Wharton. That explains alot.
Why do I get the feeling Ed blew his (considerable) earnings at some casino in Las Vegas?
He must have made a TON of money over the years. How does that evaporate (even living a lavish life style)?
Would the public be sympathetic if were shown he gambled it away? Somehow we are supposed to believe Ed just "awoke" one day and found himself dead broke.
No, it wouldn't serve him or the casinos to have him be another Charles Barkley like fool. Perhaps Trump is helping him out because one of his casinos took him to the cleaners, no?
At least six "bounces" off the DJIA's previous close today, with only the briefest drop underneath. Nope, nothing strange here.
Trump went to Wharton...
... and watched the Tonight Show while he was there. That's an elite education!
The future formerly rich helping the current formerly rich. What a great country.
Let's see how much Trump is able to whack off that mortgage in a short sale.
PS I went to Wharton too (Don Jr. was in my class). I don't know whether that's a good thing or bad thing to say around here.
IRE,
Depends on who you ask.
Gotta love Trump...always trying to stay relevant.
I just wanna give him a nuggie.
CSC and I love nuggies....
what does it take?
.........
Trump went to Wharton...
... and watched the Tonight Show while he was there. That's an elite education!
ratefink | 08.15.08 - 3:56 pm | #
Probably a different Wharton than the one you are thinking of (U Penn)... He probably went to the Wharton School of Hair Restoration... the two are often confused.
dryfly,
Now that's just mean! (funny, too)
I miss Versace Clad Babe with a Whart.
how many times did trump declare bankruptcy?
how many times did trump declare bankruptcy?
We could all learn something from this genius.
I think Donald Trump might be one of the most alluring men in American. Him and Don Rickles. Just saying.
How many times did trump declare bankruptcy?
He has an unprecedented back ground specializing in Banckruptcy's
Who's PJ?
Trump and Greenspan are two people I would to see just STFU...and 99% of CNBC...and Shrub...and the OxyClean guy.
What was topic again?
"You're fired.""You are correct, sir" laughtrack...
2 American geniuses
Trump says he is going to buy McMahon's home, but the first thing that comes to my mind is; Can he afford it? Does he have the cash? Can he get the loan?
PJ = Priest, Judas
So now we know that Trump owns Publishers Clearing House.
Ding Dong.
Of course if Ed can't pay the mortgage, how is he going to pay The Donald enough rent to make this profitable?
OK, sorry I asked.
ANother episode of Gillagan's Island. I hope The Donald gets totally obliterated on this opportunity of a lifetime.
One of the posters on the la times blog wanted to know why Johnny didn't step up and help out.
Takes a long time for the check to clear from AfterLife S&L.
Elvis writes: I think Donald Trump might be one of the most alluring men in American.
I think you meant "most alarming men in America"?
Frightening that many people have learned from him what they think it means to be a business-person. He's created more bag-holders in his practice of "business" than the nice lad that works all day packing groceries at Safeway.
Blessed are they that have had much and have appeared on TV as to them much will be forgiven and they will be fed as the lilies of the field and not go wanting. For the rest of you..... get offa the unsightly lawns ya welfare queens.
chris - the Donald's come darn close, but never actually had to file BK (Daddy bailed him out).
I worked at a firm trying to recoup money from deadbeat donald
Let me put it this way - only a true idiot can loose money running a casino during an economic expansion....
Ok then,
"He has an unprecedented back ground specializing in Parental Mooching's"
Do you think anybody offered to help out Tonto after his teepee got foreclosed on? Maybe Cornelius Vanderbilt?
Shnaps hasnt he BK'd on his casinos a couple of times?
............
I once bought a teepee at a foreclosure auction, but to my dismay, when I went to see it for the first time, the thing had been gutted. No appliances, no copper piping. Nothing left inside. I was so angry, I scalped the first person I saw. True story.
WinstonK,
From what I understand PJ started housingwire.com
Other than that I dont know much and am slightly confused as I saw some other guy promoting a book and he said he ran HW
Anyone know?
.............
Too many McMahons not enough Trumps.
Cheap publicity that helps Thee Donald keep up at illusion that his empire is stable.
OT:
Oh the humanity, the financial crisis just became very real and very dire for cookie lovers everywhere:
"Mrs. Fields says to file for bankruptcy protection" - Reuters
So did anyone buy some shiny rocks today?
Your fired!
Nades -
I have no idea about "promoting a book" ... that wasn't me, if someone was doing that.
I don't think it's that hard: I run HousingWire, and CR asked me to fill in a few posts today while he's out hiking. I've always believed in helping friends out....
CR will be back later this weekend.
bregards, PJ
We should be more like the Scots. They laughed at him when he tried to give them a world class golf course. I mean, really laughed.
Link to that Mrs. Fields bankruptcy on Bloomberg:
Mrs. Fields Plans Bankruptcy, Seeks Vote on Debt Swap (Update2) - Bloomberg.com
PJ,
Thanks for the answer. I swear I saw a guy who was involved with subprime loan warehousing and was releasing a book in a week or two on CNBC or BBerg talking about the mortgage meltdown.
I have got to stop reading blogs a few 'tini's too many deep....
.............
Ed McMahon's house also suffers from the fact that he VERY publicly sued over toxic mold in the house in question. Even though I think toxic mold is essentially bullshit, it certainly would scare any potential buyers away as there probably is a very BIG disclosure on the report to that effect.
Ed McMahon sues over toxic mold in L.A. home
That and the fact that he wasn't making enough to support his loan like many others.
Wait, waint, haven't we've missed something painfully obvious?
McMahonsion.
PJ - I think nades was refering to Richard Bitner.
also, "The Donald" has not filed a personal bankruptcy, however, I think we can rest assured he's had a hand in plenty of businesses that have been run into the ground (for extra giggles, google "Trump Mortgage").
I used to sit around Harvard watching Trump. How could this happen?
Shnaps,
Thats the guy Video: Richard Bitner | The Daily Show | Comedy Central
Thanks...
............
McMahonsion--great just great. Why didn't I think of that??
and, even if we don't get any FDIC action, here's a bit more on the cloak and dagger stuff. Not only pizza, now we need to starting monitoring Toy Store Credit Card activity.
F.D.I.C. Retirees Ride to Rescue in New Era of Bank Failures
One of the posters on the la times blog wanted to know why Johnny didn't step up and help out.
not sure if this was a genuine question, or just meant to mock the ignorant LA times poster, but Johnny died 3 years ago.
but I'd pay the pay-per-view to see Johnny Carson rise from the dead to pay McMahon's mortgage.
Um, Ed McMahon's house isn't in Beverly Hills. Can you feature me in a "reporter get's pwned" post now?
Nades, Schnaps....
Ah, got it. Richard Bitner was the source of confusion.
Well, he's not been on here promoting his book, but he DOES work for HousingWire and has written a book about his time running a subprime mortgage shop.
Hope that helps.
bregards, PJ
Still around. Just quietly lurking as I await the fun to begin anew.
The Donald = The Bagholder
Yes sir. I wasnt trying to insinuate or obfuscate anything. And the book promo was on the daily show....
Cheers!
...........
Ed McMahon's house also suffers from the fact that he VERY publicly sued over toxic mold in the house in question. Even though I think toxic mold is essentially bullshit, it certainly would scare any potential buyers away as there probably is a very BIG disclosure on the report to that effect.
if there is true toxic mold it is some BAD BAD stuff. I used to think it was overblown as well. (I'm a doctor).
I have had a few cases this year where my patients had really odd ailments and we couldn't figure it out forever. The latest one is a kid who has suddenly developed REALLY odd severe breathing problems(requiring going to the intensive care unit). The diagnosis was finally made when I asked the mother "where does he sleep?" (thinking maybe it was carbon monoxide or radon or radiation or something). She said "his bedroom is great, although the walls turn black once a year each spring... I just wipe it down with Chlorox and it goes away!" (she didn't know it was toxic mold.)
I also had my own run-in with toxic mold on a house on my block (went FC last year, pipes blew, mold in basement). I literally got super sick while being in the home just for a few minutes. I had a horrible hackng cough, severe pounding headache, and got dizzy and vomited after being in the home for less than 5 minutes.
as always though, people use a real problem (toxic mold) and sue like crazy just to get money even if they just have regular mold.
CA unemployment hit a 12 year high:
Los Angeles Times - California, L.A., Entertainment and World news - latimes.com
PJ - Your responsibility on Fridays for CR is to monitor the FDIC PR page full time for bank failure announcements. Hope CR let you know. It's a critical job skill.
"CA unemployment hit a 12 year high:"
QQQQs should rocket then, right ? And all the high roller gamblin' ponzi finance should pick right back up too! Good times!!
Next month ca unemployment hits 13 year high and on and o
Once again the heartless Tanta piles on. How dare those damn fools use the easy money tools provided by the bankers. How dare they believe the marketing hype?
Really - they all deserve their fate. Everyone from the subprime slime to Ed McMahon... from Mozillo to the silly bondholders and shareholders. Everyone from Starbucks and Bennigans. Everyone from IndyMac, WaMu, Citi, Countrywide, etc etc.
Those silly people - may they rot in foreclosure hell. No bailouts and no safety net. Throw the bums out!
There are no innocent people, just speculators getting what they deserve!
"CA unemployment hit a 12 year high:"
If living is rent free, why work?
Just kidding, of course. It's a world of gray outside the comment section of internet blogs.
"There are no innocent people, just speculators getting what they deserve!
Paul"
Just put everybody on the dole, Paul, because one person might deserve it. And, let the pedophile watch your kids, he served his time. I'm sure he doesn't do it anymore. It was a one time mistake.
Just kidding, of course, Paul.
Typical grandstanding from Mr. Combover. There are plenty of people who have fallen on hard times that are more deserving of help than Ed McMahon, who recklessly refinanced his house for far more than he paid for it so that he could continue living the high life. Wait until he stiffs the Donald and Trump as to evict him. That'll be a story!
I mentioned the 7.3% UR figure earlier and asked whether it feels that high - do you see people panhandling & selling apples?
Hershey Co. said Friday it plans to raises prices on its products by an average of 11 percent as it tries to stem the impact of soaring commodities costs, and trimmed its projections for 2008 and 2009.
Hershey to raise prices 11 percent
Sweets for the sweets.
Yearning to Learn wrote: as always though, people use a real problem (toxic mold) and sue like crazy just to get money even if they just have regular mold.
I live close to John Edwards, he will be right over to channel the mold to a jury.
This is a wonderfull short and to the point analysis of where we stand and where we are headed.
RGE - How much worse can "It" get?
anyone have the FDIC failed institution link handy?
And when Ed can't pay the rent, will The Donald throw him and his wife out on the street?
where is todays bank failure...with CR on a hike you would think several would go down.
btw, what's wrong with Billy Mays a.k.a the Oxyclean guy? I bought 4 wall hooks from him last week for just 19.95, oh and a small 30 dollar S snd H fee.
btw 2, going to be a nice sunset tonight. liitle hazy but still good.
Elvis - I'm just kind of sick of the apologists for predators - sexual and finacial.
FDIC: Press Releases
Alls quiet !
Elvis writes:
"I think Donald Trump might be one of the most alluring men in American"
... you have a point there: in the meaning of the word "LURE" (in alluring) that is:
1- an inducement to pleasure or gain (enticement, appeal, attraction)
2- a decoy for attracting animals to capture, as an artificial bait used for catching fish or an often luminous structure on the head of pediculate fishes that is used to attract prey (merriam-webster)
too bad the style is so crass
As for his talent in business: I would want to him start from $=0 and make it on his own in order to demonstrate that.
Mrs. Fields is a private company that offered publicly registered debt. It's an example of a wave in mall-based franchising of marginal concepts that peaked a few years ago and now is officially dead.
Almost all of their cookie and TCBY yogurt stores are located in malls (regional or strip). And almost all are franchised. There are more than 1,000 franchisees who paid up to $200,000 to buy a franchise and get it off the ground and (maybe) up to profitability in the good years. Now, most of them are screwed and will probably lose almost everything. All they have left is a mall lease.
There's nothing inherently wrong with franchising. It's a way for uncreative but hard-working people to become their own jefes. But all franchisers have all their real equity and sweat equity tethered to companies that may be focused mainly on leveraging up debt, stripping out profit, and ultimately walking away when the concept fizzles.
When this is over, the franchsing dream and biz will never be the same again. Most mall-based franchises will be gone, and a lot of jefes and their employees will be bitter and broke.
rich, I do agree the franchaise boom of the 2000's is over. All leveraged debt and a low profit model.
How many financial institutions can the FDIC take over in 1 Friday raid ? They are still operating IMB so at least some of their resources are consumed there. Can they be overwhelmed ?
In today's airtight, HVACd and tyvek'd houses, all mold is toxic mold. Whether it's bad design or bad construction, flaws get magnified immensely.
OT
Just spent the last few days driving rt 60 along the Santa Fe line and was amazed at all the westbound traffic; 95% container and 5x busier than eastbound. Once I got on I-44 there wasn't much truck traffic in either direction.
JMS writes:
OT:
Oh the humanity, the financial crisis just became very real and very dire for cookie lovers everywhere:
"Mrs. Fields says to file for bankruptcy protection" - Reuters
JMS | 08.15.08 - 4:45 pm | #
I bet CSC has a recipe or two that would send them on a growth trajectory...
It was part of a lifestyle where Americans would spend all day at the mall. They would eat breakfast at McDonalds, lunch at Ms. Fields, and dinner at Ruby Tuesday. In between, they would waddle around and buy crap.
This is what America had left after all the manufacturing jobs went overseas. Just a synthetic mall-based existence. I'm glad it's over.
I could care less about Trump's hair or the reason for McMahon's troubles. But I do have to chuckle when the media attributes McMahon's troubles to not being able to work in the past 18 months.
He's 85. Hello.
dryfly,
I'd imagine CSC could "spice" up a squirrel dish as well...
Why should Trump feel so bad? McMahon was rich most of his life and spent his money stupidly yet Trump wouldn't think of helping the average guy with children who really could use the aid. Reminds of those companies who give these swag bags full of thousands of dollars worth of stuff to rich Hollywood types yet wouldn't think to give any to average folks. This countries warped.......
Genevieve,
Forbes estimated Trump's net worth a few years ago at $1.5 Billion. His father (who reportedly did start with very little), was reported to have been worth about $500 million around the time we first heard about Trump, 1981 or so. If Trump had taken half his father's money and put it in an index fund, he'd have a lot more money ($2.3 billion or so) than Forbes says he had during the recent boom.
But, he wouldn't be a celebrity.
BTW, Trump is a VERY good golfer. I'll give him credit for that.
It would be reasonable to assume that the Bank doesn't want the bad press of evicting Fat Ed so the Bank is selling it way cheap to Trump. Trump probably views this like investing in viatical settlements. The sooner Fat Ed dies the sooner he can resell the place for a profit. I think the over/under on Fat Ed would be 24 months.
If Trump had taken half his father's money and put it in an index fund, he'd have a lot more money ($2.3 billion or so) than Forbes says he had during the recent boom.
And most of people who invested with him would have had a lot more!
FACTBOX-Auction-rate settlements
FACTBOX-Auction-rate settlements
| Reuters
A lot of campaign coffers are getting stuffed on this deal as usual because no one as usual is going to jail. Just like the dot.bomb rip off.
Tick tock Tick tock... nothing to the right of Central Time
When Ed fails to pay the rent, Trump can go on TV and exclaim "You're evicted." In fact maybe he's planning a show on that theme.
lama writes:
"But, he wouldn't be a celebrity."
so what happened to:
"Pour vivre heureux, vivons cachés" (French for "to live happy live hidden")?
but I guess that is more the philosophy of a trader.. well that figures
Mr. Trump, You May Have Already Lost $10,000,000!
I live close to John Edwards, he will be right over to channel the mold to a jury.
I own a house not far away as well. I think John is visiting his love child.
Mais, il est Americain. Il faut avoir le visage sur tous les journaux. Moi, je suis content d'etre un anonyposter ici.
Bonne soiree.
His house is in Studio City, near Beverly Hills. Maybe he has a posh flat in Manhattan, which is located in New Jersey.
Did any of you read the fkn article that was linked?
McMoron paid $2.6 million for the property in 1990, and the listing has "dropped in increments" to $4.6 million this weekend.
The only answer is that McMoron is a deadbeat. But he lives in CA, so.............
Is McMahon actually broke?
This story is hardly of great interest to me but I did see him interviewed on TV. He said he faced foreclosure. He didn't say he couldn't make the payments. There is a difference.
In today's RE speak maybe he really was saying he didn't intend to make the payments.
At some point he had refinanced and put quite a nice piece of change in his pocket. He paid $2.6m in 1990 and now owes $4.8m.
Ed had been trying to sell it for two years for more than the $4.8m he owes and couldn't.
With no equity to lose perhaps he had decided to walk away. A lot of borrowers have.
This is trivial money to Trump who recently sold his Palm Beach house for some fabulous sum I am too lazy to look up.
Trump gets good publicity and buys the house for less than is owed - the bank being glad to be rid of it. Sooner or later Ed dies. Or not.
If Ed's 85, then why didn't he get a reverse mortgage?
The rich helping the rich.
How touching!
Actually it will be an episode of The Apprentice where the contestants have to toss his wrinkly old arse in the street with his wife wailing.
Must see TV!
If there is a backlash that his consultants cannot contain, Donald will put him up in one of those empty rooms in Atlantic City.
gomer