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Old 06-05-2008, 09:58 AM   #21
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See? If he'd just paid off his mortgage years ago, he wouldnt have had any problems when times got tough.
You got it, bunny!
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Old 06-05-2008, 10:36 PM   #22
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Here's another one.

Evander Holyfield's mansion under foreclosure
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Old 06-06-2008, 09:54 AM   #23
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I think he gets to sell his house to the bank at close to what he would have accepted. So far he owes $4.75mm + over $650,000 in late payments, that puts it at about $5.375MM. If he had it listed at $5.75, all he needs to do is to stay in the house a little longer and he would be getting full price from the bank. How cool is that?

LA Times ran a three part on foreclosure, many default homeowners have zero equity in their houses (100% financing). Talking about creating a bubble.

mP
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Old 06-06-2008, 11:22 AM   #24
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Bo Diddley, David Letterman, Ed McMahon
Name a late rocker, a late nighter, and a late payer.
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Old 06-06-2008, 11:33 AM   #25
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See? If he'd just paid off his mortgage years ago, he wouldnt have had any problems when times got tough.
Well, he'd still have a broken neck. But, your point is well taken.
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Old 06-06-2008, 11:41 AM   #26
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What a dreadful life. First his ear was bit off by Tyson, and then his mansion gets foreclosed upon. So now he is just a has-been with no ear and no home. How the mighty have fallen!
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Old 06-06-2008, 01:38 PM   #27
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Well, he'd still have a broken neck. But, your point is well taken.
Eh, he could have done a couple of cheap commercials for personal injury lawyers and that'd have made more than enough to keep the lights on and pay for some hamburger helper.
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Old 06-06-2008, 02:26 PM   #28
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I don't think anyone can approach Mickey Rooney in the race for most pathetic case. The last commercial I saw him in he didn't say a thing, they just said "Isn't that right, Mickey?" He nodded, vacantly I guess paying alimony to every actress in Hollywood and the mileage those marriages put on him have taken their toll.
But, it was probably fun while it lasted.
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Old 06-06-2008, 03:10 PM   #29
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Boy, what an idiot Ed McMahon is! Just look at the moronic answers he gave in this interview transcript. Um, yeah.

http://www.cnn.com/2008/SHOWBIZ/TV/06/06/lkl.mcmahon/index.html

Here's a highlight:
King: And the payments, you can't make -- what's the problem?
Ed McMahon: Well, if you spend more money than you make, you know what happens. And it can happen. You know, a couple of divorces thrown in, a few things like that. And, you know, things happen. You want everything to be perfect, but that combination of the economy, I have a little injury, I have a situation. And it all came together.


Right, so you squandered all your money and this is all you have to say for yourself? Wife not much better:

Pam McMahon: I think over the years, you know, it's just a kind of a combination of maybe Ed working so hard and not kind of looking at proper management, which happens a lot. ... Because you're a celebrity, people think you have a lot more than you have. And you always want to take great care of all of your friends and your family and everybody, and you do. And you don't, and I think, you know, we didn't keep our eye on the ball.
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Old 06-06-2008, 05:29 PM   #30
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And because of that interview on Larry King Live last night, people in this country with no brains will send him money to bail him out. Why else would he make his financial business public and then go on an interview show?

He has made millions over the years and threw it all away. Do I feel sorry for them? I think not!
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Old 06-06-2008, 09:09 PM   #31
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Rule number 10: Don't have an entourage.
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Old 06-06-2008, 10:51 PM   #32
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Rule number 10: Don't have an entourage.
Thats one of my problems. I'm firing them all Monday morning.
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Old 06-07-2008, 12:07 AM   #33
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Article in today's WSJ said that up to 60% of pro athletes eventually file for bankruptcy. Reasons are that they aren't equipped with knowledge to handle the money, they live it up, they feel obligated to help their family, friends, etc, and they feel pressure to compete with their athlete peers in lifestyle. So when the income goes down their expensive lifestyle depletes their money rapidly.


I'll add another politically incorrect speculation. Business people who get rich probably have a much better chance of knowing enough to make smarter financial decisions. But your average athlete, rock star, or actor/actress - how bright are they? I know we've all seen the kids in school that couldn't do math to save themselves and struggled with grades, yet sometimes they had a real gift of athleticism, or performing ability, etc. Those people turn into some of the superstars but they are not bright and/or educated enough to handle the big money.
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Old 06-07-2008, 01:06 AM   #34
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What a dreadful life. First his ear was bit off by Tyson, and then his mansion gets foreclosed upon. So now he is just a has-been with no ear and no home. How the mighty have fallen!

Hilarious!


I agree with Worried in FL.

I know quite a few people who have done hard labor all their lives and saved and had maybe 1-5000th of what ED does...no one should be bailing him out. It's not like what he did was hard labor either!!

I remember Evander saying how he had the lord to thank for winning his boxing matches. I and was thinking yeah I'm sure the lord was helping you beat some other human unconscious so you can get 30 million!

If anyone does have enough money to give to one of these guys I hope they have a change of heart and buy some poor guy or girl living under a bridge something to eat.

Jim
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Old 06-07-2008, 09:24 AM   #35
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So now he is just a has-been with no ear and no home. How the mighty have fallen!
Maybe someone was giving him good advice on how to avoid bankruptcy, but he didnt hear them...

oh, just shoot me now.
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Old 06-07-2008, 09:26 AM   #36
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Quote:
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Article in today's WSJ said that up to 60% of pro athletes eventually file for bankruptcy. Reasons are that they aren't equipped with knowledge to handle the money, they live it up, they feel obligated to help their family, friends, etc, and they feel pressure to compete with their athlete peers in lifestyle. So when the income goes down their expensive lifestyle depletes their money rapidly.


I'll add another politically incorrect speculation. Business people who get rich probably have a much better chance of knowing enough to make smarter financial decisions. But your average athlete, rock star, or actor/actress - how bright are they? I know we've all seen the kids in school that couldn't do math to save themselves and struggled with grades, yet sometimes they had a real gift of athleticism, or performing ability, etc. Those people turn into some of the superstars but they are not bright and/or educated enough to handle the big money.
Another thing is that in sports or entertainment, most people hit it big while they are quite young and simply have no experience to draw on; and they tend to attract people who want to fleece them. A lot of people have been ripped off by their managers/relatives.
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Old 06-07-2008, 09:35 AM   #37
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Another thing is that in sports or entertainment, most people hit it big while they are quite young and simply have no experience to draw on; and they tend to attract people who want to fleece them. A lot of people have been ripped off by their managers/relatives.
It's such a jungle out there. Anyone who isn't on their toes is going to get fleeced by somebody like that. What is really shameful is the number of jerks who try to (and often do) rip off the life savings of the elderly. And they don't even have millions, usually. Imagine the scum that multimillionaires with no financial acumen must attract.
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Old 06-07-2008, 09:37 AM   #38
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Maybe someone was giving him good advice on how to avoid bankruptcy, but he didnt hear them...

oh, just shoot me now.
BOOM!!! Glad to oblige.

Holyfield was such a fantastic boxer. Every muscle seemed to be optimized, and I loved watching him box. Now he's just another earless, homeless, old fart. Guess that's what happens if you don't read off the diehards book list!

(Re-reading "All About Asset Allocation" by R. Ferri this week... good stuff!!)
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Old 06-07-2008, 10:00 AM   #39
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It's understandable I suppose to see someone in their 20's do something that stupid, they think the ride will never end. By mid 30's he should have seen it coming. I wonder if it's just the personality type that is so optimistic that they just can't conceive of things going wrong.
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Old 06-07-2008, 11:07 AM   #40
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Maybe someone was giving him good advice on how to avoid bankruptcy, but he didnt hear them...

oh, just shoot me now.

BANG!!!


DANG.... I was all ready to pull out one of those 'gun' emoticom and shoot the bunny... but we don't have them here and I am not willing to go search for one... so you got this crap above...


Edit to add after reading more posts....
DANG..... I am TOO LATE... HE WAS SHOT BEFORE ME!!!! I am shooting a dead bunny
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