Punch Posted March 10, 2012 Posted March 10, 2012 Interesting story with multiple ties to WNY athletes: http://sports.yahoo.com/blogs/nba-ball-dont-lie/christian-laettner-owes-30-million-unpaid-loans-sports-215427065.html
truth on hold Posted March 10, 2012 Posted March 10, 2012 (edited) I wonder if the ants are po'd because he owes them money too? He "is currently an assistant coach for the Fort Wayne Mad Ants in the NBDL ...." Edited March 10, 2012 by Joe_the_6_pack
CowgirlsFan Posted March 10, 2012 Posted March 10, 2012 I never did like him much and I love Duke. I had no problem with him being a Maverick.
Rico Posted March 10, 2012 Posted March 10, 2012 Interesting story with multiple ties to WNY athletes: http://sports.yahoo....-215427065.html Great pic. I never did like him & I hate Duke.
T master Posted March 10, 2012 Posted March 10, 2012 Interesting story with multiple ties to WNY athletes: http://sports.yahoo.com/blogs/nba-ball-dont-lie/christian-laettner-owes-30-million-unpaid-loans-sports-215427065.html What football team did he play for ??? This is a football blog ??
bbb Posted March 10, 2012 Posted March 10, 2012 What football team did he play for ??? This is a football blog ?? Lake Shore Eagles. I believe Shawne Merriman plays football? This is a blog?
BEAST MODE BABY! Posted March 10, 2012 Posted March 10, 2012 Lesson #8567 in business: Never personally guarantee a loan when you're highly leveraged.
jr1 Posted March 10, 2012 Posted March 10, 2012 "the real-estate ventures of Laettner and Davis, which operated under a multitude of names" never a good sign
\GoBillsInDallas/ Posted March 10, 2012 Posted March 10, 2012 http://online.wsj.com/article/SB10001424052970204603004577269920969246672.html
zazie Posted March 10, 2012 Posted March 10, 2012 Sounds like they kept raising money while some ventures were failing,. Very bad faith way to do business. But it was not a ponzi scheme - they did not use new investors to keep old investors happy. They just effed up. Stupid, but civil in nature, not criminal. Saving grace and silver lining.
benderbender Posted March 10, 2012 Posted March 10, 2012 What football team did he play for ??? This is a football blog ?? This is a forum. But even if it were a blog, I think the fact that it's an interesting story would qualify it to be discussed in a blog.
The Poojer Posted March 10, 2012 Posted March 10, 2012 it has ties to a current buffalo bill, plus laetner is a buffalo guy, played for nicholls i believe and was from angola, so it is appropriate to be here in my opinion What football team did he play for ??? This is a football blog ??
Punch Posted March 10, 2012 Author Posted March 10, 2012 What football team did he play for ??? This is a football blog ?? The article specifically refers to "Buffalo Bills All-Pro linebacker Shawne Merriman" and includes direct quotes from him as he is one of the many investors owed money by Laettner. The subject line says "OT" because the main story is about Laettner, a WNYer, and despite Merriman's involvement it is not nominally about Merriman. "OT" means Off-Topic, which is often used by message board posters to identify topics that fall outside the designated subjects associated with a particular message board. Although this article involves both a renowned professional athlete from WNY and a current Buffalo Bill I felt it should be distinguished from the usual topics regarding the upcoming draft, pending free agents, and Buddy Nix's naptimes. Thank you for your response and please enjoy the rest of my football blog. End sarcasm and Go BILLS!
aristocrat Posted March 10, 2012 Posted March 10, 2012 Sounds like they got a bit arrogant after their first venture but it sounds like they may be able to pay back creditors with the sale of that first venture. Its amazing what they built down this way and how far the values have fallen.
zazie Posted March 10, 2012 Posted March 10, 2012 Sounds like they got a bit arrogant after their first venture but it sounds like they may be able to pay back creditors with the sale of that first venture. Its amazing what they built down this way and how far the values have fallen. yes they had some bad luck which is being compounded by credotors forcing them to sell into a down market. Which means they may never be able to pay off ALL the creditors. And with this terrible publicity. thye will find it difficult to start again at least in this business. And I am pretty sure that mad hens assistant to NBA head coach is a difficult jump. Nichols bastard!
vincec Posted March 11, 2012 Posted March 11, 2012 (edited) Lesson #8567 in business: Never personally guarantee a loan. when you're highly leveraged. Fixed. Edited March 11, 2012 by vincec
KD in CA Posted March 11, 2012 Posted March 11, 2012 I never did like him much and I love hate Duke. Fixed "the real-estate ventures of Laettner and Davis, which operated under a multitude of names" never a good sign That by itself is not a good sign. They're !@#$ing basketball players and people are giving them money to develop real estate projects? Hello?? Fixed. Exactly. Find investors willing to take equity or don't take the money at all.
Fan in San Diego Posted March 11, 2012 Posted March 11, 2012 That by itself is not a good sign. They're !@#$ing basketball players and people are giving them money to develop real estate projects? Hello?? Exactly. Find investors willing to take equity or don't take the money at all. When real estate is rising anybody can look like a genius in real estate.
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