Nathan Deal’s amended financial disclosure

While Nathan Deal on Thursday debated Democrat Roy Barnes about education policy, staffers for the Republican nominee for governor filed new financial report with the State Ethics Commission, acknowledging that Deal is carrying $2.85 million more in loans than he first revealed back in May.

After the education debate, Deal declared the omission to be an “oversight.”

See the report for yourself here. Here’s a quick image of Deal’s new, revised loan picture:

liabilities2

Both newly disclosed loans are to Gainesville Salvage and Disposal, the auto salvage firm Deal owns with Kenneth Cronan.

Brian Robinson, spokesman for the Deal campaign, said money was for an expansion of the business, which is “in fine shape” and well within the capability of the firm to pay back.

You’ll note that the above debts are labeled “contingency liabilities,” meaning that there is some question whether the former congressmen would be held to account for them – although in his Tuesday press conference Deal left little room for doubt that he was ultimately responsible.

The “contingency” label is crucial in that it allows Deal to declare a positive net worth of $2 million, a figure found deeper in the document.

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86 comments Add your comment

The Goobernator

September 16th, 2010
6:45 pm

Spin, Rinse, Fold. Lie, Deny, Repeat.

Jake

September 16th, 2010
6:50 pm

I wish I was able to consider $2.85 million an oversight. No wonder he doesn’t want to release his full taxes – he’s afraid of what we might notice.

I only wish this had come out in July. He would have lost and Republicans would have won with Eric Johnson.

Aquagirl

September 16th, 2010
6:51 pm

How crooked do you have to be to claim this was an “oversight” with a straight face?

Reality is a "Liberal Conspiracy"

September 16th, 2010
6:56 pm

To all the people who thought the importance of full disclosure was over-played by Roy’s campaign commercials, now would be a good time to admit that Georgians deserve better than someone who wants to get into office before people realize he is (1) effectively bankrupt; (2) desperate to use political influence to keep his creditors at bay and (3) fully willing to leverage his political influence to enrich himself.

greg best

September 16th, 2010
7:05 pm

Deal.Real.Broke.

don't blame me

September 16th, 2010
7:18 pm

I voted for Karen Handel

rightofcenter

September 16th, 2010
7:25 pm

For you non-financial types, let me help you: contingency liabilities means he is not the debtor but rather the guarantor of a loan. It is common practice for small business owners to have to personally guarantee a note. They only become liable if the note comes into default.

Georgia female

September 16th, 2010
7:31 pm

Mr. Galloway, do you stay awake nights finding something else degrading about Nathan Deal????????? Is he the topic of all your Insider articles??? He does have an opponent;do you realize that?? I would like to read something about the incredible Mr. Barnes. Please do not be such a blatant liberal. Typical liberal AJC.

GAObserver

September 16th, 2010
7:42 pm

The fact that this slippery character seeks to conceal so much in regard to his finances (especially with these new revelations), ensures that Roy Barnes will be elected governor of Georgia this November.

It doesn’t have anything to do with “liberal/conservative”. You boltheads kill me with that mess. Grow up.

t-partyrebel

September 16th, 2010
7:43 pm

nobody just fogets they owe almost three mililion dollars so he’s a liar, deal is another currupt politician we don’t need and we don’t want, another bum we should throw out.

rightofcenter

September 16th, 2010
7:49 pm

tparty,
nobody forgets that they owe 3 million dollars – however, if you guarantee a note, you don’t owe it unless the debtor can’t pay it. So he doesn’t owe the 3 million – hence the word contingency. Don’t show your stupidity.

lmno

September 16th, 2010
7:49 pm

Grandson: Why are you runnin fer guberner Granpa?
Nathan Deal: Cause we are broke son, and this is the best public housin I can get!

Keep in mind, Mr. Deal used the term “Ghetto Grandmas” in the past to describe opponents. Now, he is the “Ghetto Grandpa” living on the Gubmint’s teet. Using that government paid medical insurance for him and his family, applying for gubmint housin.

Mr. Deal, you’ve spent a career ridiculing anyone whoever relied on a government sponsored program, now you find yourself needing assistance. Don’t worry, there are thousands of people MUCH better than you that have found themselves in the same situation.

I said it three weeks ago, I say it again, the guy is a piece of crap.

Nathan Deal new slogan, “It could be worse, I could be Oxendine”

Reality is a "Liberal Conspiracy"

September 16th, 2010
7:54 pm

@ “Ga Female: 7:31″: So Galloway should turn a blind eye to Nathan’s faults? Is the fact that he has these faults Galloway’s fault or the Republican party for allowing themselves to be baited into a flawed candidate by Nathan’s bashing of immigrants and gays? HHmmmmm. Has it ever occurred to you that the reason no one has dug up ethical problems with Roy is because….uh….after 30 years of public service, the guy is clean? Think about it. Then either vote for Roy or vote for a crook who has repeatedly tried to gain your vote by deception and lies. The choice is yours.

The REAL GodHatesTrash, Superstar

September 16th, 2010
8:08 pm

Congressman Nathan Deal is trash, from a long line of trash, and elected by trash.

Perfect for Goobernor of Georgia.

t-partyrebel

September 16th, 2010
8:09 pm

rightofcenter calls me stupid. only ones i see stupid here is deal who forgot he signed for a three million dollar note and he was libel for it and rightofcenter who says it’s okay to lie about it. only thing worse then a liar is those who make up excuses for him.

Bruce Henry

September 16th, 2010
8:13 pm

Any person running for public office should provide a retail credit report, the same asany person seeking employmnet. If they can not manage there own finances, how can you expect them to management the States monye..

Virginia

September 16th, 2010
8:15 pm

I live in Gainesville and have been “exposed” to Nathan Deal for more than 35 years, beginning when he was County Attorney and the Hall County Board of Commissioners was successfully recalled! Thus began his career of corruption. Nobody forgets they owe almost $3 million. Also, nobody in their right mind, signs away all their assets and retirement funds to ONE of their children!! We all want to help our children, my husband and I certainly do want to help all of our children WITHIN our means! We have 5 children, and are not so stupid that we would risk our home, retirement, and other assets to help one of them open a business they clearly know nothing about! The Wilder store sold $1,000 fly rods!!! WHO, in Hall and/or Habersham county can afford to buy something like that more than once? If this is the best Mr. Deal can do with his personal finances, why do we want to give him control of the State of Georgia’s budget? Folks, please think about this!!

Handel signs popping up

September 16th, 2010
8:18 pm

Any bets out there that Ga. GOP asks Deal to step down and Handel to step up? Can it even happen or are the Republicans out of luck this time?

Virginia

September 16th, 2010
8:22 pm

@ Handel signs popping up: Heard tonight on WSB that the GOP cannot dump him and get someone else if it is within 60 days of the election. If that is true, guess the GOP is stuck with Deal!

Cee-lo

September 16th, 2010
8:23 pm

He can’t even get a job as a teller at Wachovia.

Penny Lane

September 16th, 2010
8:29 pm

I am incredulous. How is it possible for someone to claim that this act of conscious omission is an ‘oversight’?

It’s funny – with the $2.3 million loan that Nathan Deal signed for, he claimed that it “wasn’t really his,” because when he signed it he meant it for his daughter. It shouldn’t count.

And now with this additional $2.85 million loan that it turns out that he has (!), Deal is saying that he didn’t need to declare it because it “wasn’t really his,” i.e. it was just to his business and he shouldn’t have to report that. Really, it doesn’t count.

So what SHOULD count, then?

————

The combination of tending to make poor judgments and then not feeling any responsibility for the outcome is a BAD sign. This man’s judgment is simply not up for the job of governor, and the fact that he seems so dismissive about the consequences of his actions is, well, frightening. It’s sort of surprising, really, that he seems so unconcerned.

Does Deal expect the national Republican party to come rescue him? To write a check and be his fairy godmother?

Teach2Learn

September 16th, 2010
8:34 pm

I think the truth of the matter is the people who knew and kept the info “close to the vest” waited until now so as to not disrupt the Republican primary but rather the general election in favor of Barnes. Wonder who would have that MO? Sad, sad for the future of our state that our political process and the election rights of the people can be manipulated in oh so many ways.

Goobers

September 16th, 2010
8:35 pm

Looks like Deal is a doomed candidate. Probably in ATL right now, some movers and shakers are outlining how he will step aside and Handel will be the default nominee. In exchange there will be a Benefit Dinner for Deal, where his financial difficulties will be handled. Something similar to the benefit dinners for Maddox back in the day.

This kind of reminds me of Rep. Bo Ginn.

The Centrist

September 16th, 2010
8:41 pm

Saying that you voted for Karen Handel aint’t saying much. When you consider that she ran against skunks like Oxendine and Deal, any wet animal can smell good. She was accused of pulling a Sestak on Eric Johnson, by offering the COO position to him if he didn’t endorse Deal. Going to Rolling Stone concerts, reversed her position on Georgia’s unverifiable voting machines after accepting the contributions from Diebold, and receiving other questionable gifts from lobbyists, Being in violation of the Voting Rights Act, and politically motivated investigations cited in many of the 60 impeachment articles filed in the General Assembly against her Inspector General. She claimed to be against corruption, but time and time again pal-ed around with corrupt politicians, and her claim to fame is that she was endorsed by Palin…and lost?

electrician

September 16th, 2010
8:46 pm

the ethics investigation deal was under before he resigned his seat was enough to send my vote to Handle,this is what you get when you make gay mariage and abortion the deciding factor on who to vote for.

Reality

September 16th, 2010
9:13 pm

Georgia Woman, no one needs to stay up all night to find dirt on Deal, a google search should do.

Centrist, of course she pal-ed around with corrupt politicians, they call those republican party meetings.

Dave

September 16th, 2010
9:14 pm

electrician – I will make gay marriage and abortion a big factor in who I vote for, just have to hold my nose and go for Barnes, rather than sitting it out. Deal’s making it easier.

melman rings twice

September 16th, 2010
9:19 pm

I’ll still vote for him if he provides his original signed loyalty oath.

Mike Bowers

September 16th, 2010
9:23 pm

This reminds me of the time when Guy Milner threatened to reveal that I was having an affair with one of my staffers. I showed him.

Karen's Husband

September 16th, 2010
9:42 pm

Nathan claims there was no wrong doing in his meeting with Bart Graham about the salvage business. Given what we know now, I imagine he needed that contract and revenue to pay his debts. Guess by filing limited papers, the people of Georgia would not notice.

Here is one more question: how did Nathan get $2.4 million in loans when his collateral was much less? Did he use his position and influence as a U.S. congressman to get special treatment from his bank – a bank that later failed? If so, this whole downturn in the economy is about people like slime ball bankers and Nathan.

Let’s face it…..Nathan is a liar. He has absolutely no creditability!

At least Barnes discloses his worth. And, despite Republican claims….his first term was not a disaster. The last eight years with Sonny and the elephants…..now that is DISASTER!

Eight years of decline and counting

September 16th, 2010
9:45 pm

If there is a Grand Jury looking at all this stuff, I hope it casts a wide enough net to catch some of the other crooks who have been playing fast and loose for the past eight years in Georgia. We’ve had eight years of free-wheeling, anything-goes, get while the getting is good by our “public servants.”

Handel Supporter

September 16th, 2010
9:46 pm

Karen Handel, who only lost to Deal by less than 2,500 votes, would certainly be the candidate if this had been made public. How can Deal manage the Georgia budget if he can’t even handle his own? Why would anyone sign a loan for a business deal, even for your child, if you know you do not personally have the resources to pay it back should the business go belly up? The Deals are morons.

bart

September 16th, 2010
9:48 pm

My God, what is this clown going to reveal next? It’s just one shady thing after the other. Of course, we all know this is something that is purposefully done. No way it’s an “oversight.” How stupid does he think we are? If he had any integrity, he would step aside.

Blago

September 16th, 2010
9:50 pm

Congressman Deal – the Blago of the South.

Cutty

September 16th, 2010
10:14 pm

Name one person who makes $150K a year and takes on $4 million in debt? This was not a noble thing in helping his child start a business, this was a completely moronic business decision. And would he have even gotten those loans if he wasn’t a U.S. Congressman? A vote for Deal and you eliminate the conservative mantra of ‘personal responsibility.’ Bet when he loses, he files for bankruptcy within 3 months.

eatmotacos

September 16th, 2010
10:40 pm

The “Deal Real” expose shouldn’t surprise anyone who has been paying attention. The common link between all sucessful politicans is that they will say anything to get elected. A case in point is John McCain’s and Roy Barnes’ reversals of course on immigration issues, as referenced on “Prime Time Politics” last night – the poor confused Hispanic guest said “Roy Barnes used to be our friend – he was one of the first Governor’s to advocate giving “illegal aliens” driver’s liscenses – now he is our enemy – we don’t have anyone to vote for.” http://www.gpb.org/prime-time-politics Roy is their enemy only until elected. He is more than willing to deceive voters on this issue in order to get elected. Just like Sonny was willing to say that he was going to change the flag back, lying through his teeth, just to get elected. It is a necessary skill set for all successful politicians. My theory is that they are all psychopaths – no conscious or remorse, cast from the same mold as Charles Manson, Richard Ramirez, Theodore Bundy and David Berkowitz….

Tea Party Sucks

September 16th, 2010
10:56 pm

Deal is a slimebag. He’s a liar and an ethical and moral vagrant. Anyone who votes for him is a fool with the IQ of tree moss. I’d sooner write in a moldy potato than Nathan No Deal. How much more is this sociopath hiding? He will destroy the state of Georgia if he is elected. Everything he touches turns to garbage.

Raw Deal

September 16th, 2010
11:01 pm

NOBODY should vote for Deal. Ethics violations? Withholding significant debts? I bet there is a lot that hasn’t been uncovered yet. I’m afraid if he gets elected, something is going to come out that will really embarrass the state of Georgia. He clearly makes horrible business and financial decisions! Just imagine the ways he screw up our state’s budget! It sickens me to think this man could get elected. I can’t imagine anyone in their right mind voting for him, but then, there are a lot of uneducated voters out there….

THIS IS BAD....DEAL OR NO DEAL

September 16th, 2010
11:24 pm

this is gawd aful…I am pissed. I wonder what church he will swindle now. I agree with one of the posters a 150k salary for 4 million in loans. What are you holding Mr. Deal that was a valuable asset? I am some very reserved reservations about all this. Where is the Tea Party Candidate for Georgia. Dont try to tell me it was Handel? Palin backed ODONELL in Deleware but she backed a sleaze in Georgia?????? If DEAL survives this I hope every lawmaker closes out loopholes in the chambers for backroom DEALS…..and he pays off his debt through governors salary but not one dime of my taxpayer better go to Nathan Deal…..Lawmakers I hold you personally responsible if this happens…mark my words.

The Cynical White Boy

September 16th, 2010
11:43 pm

Sure is a BIG coincidence that this “news” hits right before advance voting starts in the metro (i.e. pro-King-Roy) counties. Hmmmm…

Then again, never underestimate the power of the King, or his Cup-Bearer Bobby Kahn.

Gonna be a strange 4 years, what with the Nat’l Demos out of power in Congress and with King Roy and his Hachet Man Kahn stalking the hallways of the Gold Dome.

Hoo boy!

Doris M

September 16th, 2010
11:45 pm

Looks like Nathan Deal will be a bad deal for Georgia. If he can’t manage his own funds what the heck will he do with Georgia tax dollars? Roy Barnes doesn’t seem so bad, does he?

All Red

September 16th, 2010
11:48 pm

We love ‘em crazy in Georgia. We can out-crazy South Carolina and Alabama combined.

whatnot

September 17th, 2010
12:34 am

The IRS came after me for $7,000 omitted by me because the contractor neglected to provide me with my 1099 and filed they paid me. Well, I had to pay back that $7,000. This is not an oversight. This is more than grand theft! Why are we contemplating voting in someone that is not financially responsible on a personal level. How can we trust he will take care of our tax dollars. Too many ethics slip ups that have become big A lies. The entire country is watching us. Too much of a slippery slope to be governor. If we allow this man to be elected–what does that make us? Don’t dumb down our government

Chris

September 17th, 2010
12:48 am

Well well well. Who would have thought?

Georgia Female: Please tell me your joking. Nathan Deal brought this upon himself. He lied, I mean conveniently forgot to report that he owes nearly three million dollars. The “evil liberal” media is not picking on him. He’s a liar and a crook, plain and simple. Get over it.

The Cynical White Boy: Is that the best you die hard Deal supporters can do? Call him “King Roybama?” Are you guys truly that desperate to where you have to resort to elementary school insults?

Nathan Deal is the Rod Blagojevich of the South. Stay classy Deal.

ODDOWL

September 17th, 2010
1:30 am

Which one of the following will occur first; November 2 midterm elections
or Nathan Deal being indicted on fraud, theft and income tax evasion charges ???

UGA graduate

September 17th, 2010
1:30 am

Georgia’s race is beginning to look like Colorado’s this year. The Republican candidate proved to be a liar after winning the primary and now he is lower in the polls than a crazy third party candidate. Deal is beginning to give Blago of Illinois a run for his money on who has the biggest ego and his ethics make Blago looks like an amateur. Republicans ran the economy of this state into the ground in the last eight years, go away!

Bubba

September 17th, 2010
1:59 am

Enter your comments here

Kelli

September 17th, 2010
4:17 am

@Georgia Girl, Are you serious? Do you really blame Mr. Galloway for reporting this info? Why don’t you look at the person who is trying to be your next Governor and ask him why he chose to “forget” to disclose millions in debt?

Mike

September 17th, 2010
4:25 am

Amazing how so many morons here sticking up for Mr Deal. I guess it is true that Georgia has a history of electing unsavory characters to the state legislature. The repubs in this state are proud that Georgia always appears to be the laughing stock of the country. Question: Which state has the most elected crooks?

thisiskrazy

September 17th, 2010
4:32 am

Slime. Crook. Liar. Cheat. But watch how many country, backwards Georgians vote for this slime ball because he has the big “R” to the right of his name.