Nathan Deal: ‘I understand Georgia’s pain’
The Insider offers you a quick-and-dirty transcript of the conference call that Republican nominee for governor Nathan Deal held with supporters this morning, to calm angst over articles dealing with his financial situation.
GOP nominee for governor Nathan Deal addresses reporters Wednesday. Aaron Gould Sheinin, asheinin@ajc.com
The message Deal was trying to send:
– The loans he co-signed on an outdoor store were made to support his daughter and her husband, which any voter should understand;
– He is not insolvent;
– Intimations that his debt, $2 million of which will come due in February, have any bearing on his ability to govern are out of line and of a political nature;
– If anything, his financial troubles mean that he understands the pain of the average Georgian;
Overall, the remarks are similar to what the Republican nominee told reporters on Wednesday. I’ve placed in bold the two paragraphs that are likely to quickly show up in news reports. Otherwise, Deal’s remarks below are untouched:
”Good morning. This is Nathan Deal.
“I want to thank all of you for being on the call this morning. I wanted to talk to you about something that has developed within the last week with regard to financial obligations that my wife and I have.
“It’s the kind of issue that sometimes, of course, surfaces in the midst of a political campaign. I believe that one of the responsibilities of parents is to help their children. And several years ago, our middle daughter and her husband, who – they’d both been traveling all across the country on their jobs – wanted to be closer to home, since they had the youngest of our grandchildren.
“My wife and I decided that we would help them in that venture. They were opening an outdoor store in Habersham County. Everything was going very well – as it was going with a lot of things in our economy at that time.
“But suddenly, of course, the economy turned. And that downturn is the worst we’ve seen in more than a generation. It obviously has taken down some of the largest banks. It has taken down some of the largest businesses, some of the largest insurance companies all across our country — and certainly hundreds of thousands of small business people across the country as well as right here in our state.
“Unfortunately, my children were caught in that same process. They’re store had to be closed. My wife and I had agreed to guarantee the loans for that undertaking. We’ve always believed that a responsibility of a parent is to help their children, and we certainly intended to do that.
“The obligations are certainly outstanding, and we are in the process of addressing those obligations. The press would have you believe we are insolvent, and that is far from the truth. We have assets that are going to be liquidated, including the place where the business was in operation, as well as other assets that we are willing to sacrifice in order to live up to our obligations.
“We believe that’s the responsible thing to do. Now, of course, on top of all of this is the implication that this in some way should have something to do with the governor’s race. I, quite frankly, don’t think that it has. I believe, if anything, this is an illustration of the fact that you need a governor who understands the pain that Georgians are facing.
“And certainly, many, many Georgians are facing the same kind of problems that my family has incurred in this business venture. Now, I’ve made investments over the years. Some have been good, some have been bad. This was an investment that was made on behalf of a child, and I think when you try to help your children, that’s probably always the right thing to do.
“Now, we’re going to live up to our obligations. It has nothing to do, in my opinion, with this campaign. The press would perhaps have you believe that this is an indication that I cannot govern this state. I tell you that it has nothing to do with that.
“In fact, I believe the fact that I understand the pain of Georgians is all the more important as I enter the governor’s office.
“Now, yesterday, I believe there was another article about another business venture that I’m involved in – a small business that is a very successful business. Something that my partner and I started from scratch.
“Like any small business, if you are a stockholder, you are sometimes asked to be guarantors on a loan for the corporation. That’s exactly what those loans are. The assets of the corporation and the assets that we own as individuals for the business far exceed any of those obligations.
“The loans are performing loans, and it is a profitable business. There again, this is simply an effort to divert attention away from the campaign for governor. And I want to tell you that I appreciate the fact that many of you have been reaching out to me and my wife, and to our family.
“We thank you for your prayers and your words of encouragement and support. And I want you to know that from the beginning of this campaign, that I’ve been attacked. And I think the reason is that the other party understood that I was the strongest candidate, the one most likely to win the governorship of this state.
“And, of course, the polls still continue to indicate that, and have consistently indicated it throughout the entire campaign. We intend to go forward with strength. We intend to provide the kind of leadership that Georgians will expect from a governor. We will do it on our personal level, and we expect to do it at the state level as well.
“These are still difficult times for many Georgians. And I’ll be a governor who has a perfectly reliable understanding of those challenges that Georgians continue to face. And I’ll be a governor who will work very hard to help make their lives better.
“Theses are the kinds of things, unfortunately, that are the dark side of politics. I think it is extremely regrettable when anyone tries to bring a candidate’s family into a political campaign.
“My children have suffered and will continue to suffer the consequences of an effort where they put all of their strengths, all of their time, all of their energies into trying to be a successful small business. That’s what Georgia ought to encourage.
“That’s what has made our state and our country strong – people who are willing to invest their lives, invest their own fortunes, and invest their futures. I am proud that my children were willing to take this venture. My wife and I still stand behind them. We’ll live up to our obligations, and we will move forward.
“I thank you for all that you’ve done. I ask you to continue to work very, very hard. November 2 is coming quickly. This is the kind of campaign where people need to understand that our state has great strengths. Just as families and individuals have suffered the consequences of a downturned economy, so has our state.
“The lessons that all of us learn from that are the kind of lessons that will not only make families and individuals, but will make our state stronger. That’s the kind of leadership I’ll provide. Thank you once again for all of your support, thank you for your prayers. Let’s get out and work extremely hard. That’s what my wife and my family and all of us are going to do…..”
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303 comments Add your comment
babybecks
September 17th, 2010
2:11 pm
There has got to be more to this story. These things just aren’t adding up. Come back Karen!
No where near!
September 17th, 2010
2:12 pm
Georgia must remember…..Barnes put his political future on the line by leading the racially-charged push to shrink the Confederate battle emblem on the state flag, he voted “against” a bill to create a state holiday honoring the Rev. Martin Luther King Jr. Barnes also pressed to build a “$2 billion highway’ — dubbed the Northern Arc — to relieve traffic congestion along the perimeter outside of Atlanta but ran into fierce opposition from local residents who said the roadway would lower their property values. And Barnes faced allegations of cronyism after owners of large tracts of land along the highway’s proposed route were found to have “contributed to Barnes’ campaign”. The proposal was eventually scrapped. And they talk about Deal…
Elephant Whip
September 17th, 2010
2:12 pm
td:
Let’s also get something else straight. Barnes did not “cost the state millions because he sued it to allow illegals and convicted felons access to the voting booth.” The republican legislature who passed the Voter ID law did. You see, there were initially two companion suits filed: one at the federal level and one at the state level (Barnes’ suit). The federal court first ruled that the law was basically a “poll tax”…you know those laws that kept black people from voting pre-Civil Rights era? So Georgia spent millions (at the beginning of the recession), under the direction of Karen Handel and others, making sure that Voter IDs would not cost anything and making sure that every single voter was informed about the need for Voter ID. Then the federal court let the system stand after the state made huge modifications to the law.
Barnes sued under the state constitution and other laws at the same time, trying to protect LEGAL voters’ right to vote, NOT trying to help illegals vote.
Someone has made a good point about this BS theory of “helping illegals vote”: why would an illegal do anything to make state authorities check his citizenship?
Finally, you republicans are into vote control: for example: DIEBOLD voting machines with no paper record; no paper record for the voter to verify that his/her vote was cast properly; cake-walk absentee voting that requires NO Voter ID.
babybecks
September 17th, 2010
2:12 pm
And what’s the deal with the Casey Cagle affair someone referred to earlier? These guys sound perfect for each other
Drago
September 17th, 2010
2:13 pm
Nathan Deal. Just too dishonest for Georgia.
Elephant Whip
September 17th, 2010
2:14 pm
Tea Partier:
Since when were the first ten amendments Mein Kampf?
You’re out of place here, fascist.
Aquagirl
September 17th, 2010
2:15 pm
Jonathan, just wait until we run out of water in a few years, courtesy of the Do-Nothing Republicans. Even the chickens will be trying to leave. They’re smarter than the Deal supporters.
DP
September 17th, 2010
2:15 pm
To anybody from the AJC who might be reading the comments on this blog, congratulations on your excellent story on Deal from earlier this week:
http://www.ajc.com/news/georgia-politics-elections/deal-could-face-financial-613928.html
I would like to raise a couple of questions based on the article that I hope the AJC’s reporters are following up on. Here’s the first:
“For Deal to repay the Wilder Outdoors loan, aides said, he has no choice but to sell his most valuable asset: his home in Gainesville.
Deal bought the property seven years ago for $430,000, according to public records. On 5 acres, it features a main house of about 4,000 square feet, a 1,900-square-foot guest house and a pool. Deal listed the property for sale about a year ago for $985,000, its assessed market value, but has not found a buyer.”
How many people in Georgia have a 129% gain on a residence bought 7 years ago AFTER high end real estate prices have dropped by at least 30-40%? Unless the houses were in a severe state of disappear, how was a property in Gainesville with 5 acres, 2 houses with almost 6000 square feet and a pool worth only $430,000? Did Deal put a lot of money into extensive renovations to account for this huge jump in market value?
What were the sale prices of comparable properties in Gainesville in 2003? Who did Deal buy the house from? Any chance the house was sold to Deal at a price far under the market value as an under the table payoff?
Jonathan
September 17th, 2010
2:16 pm
The Tea Party person must just be someone playing right?
td
September 17th, 2010
2:18 pm
GaBlue, Nice piece of revisionist history. I will agree with one thing you said about the white liberals stayed in the party and now we know where you are. My family has been in Georgia since the 1840’s and all were Democrats. They voted for Reagan, San Nunn and Larry McDonald in the same election. They and all of their friends started leaving the party 10 to 20 years ago when the national party started running people like Mondale and Dukakus sp?. They feel they same as Zell Miller when he said “He is not leaving the democratic party, they are leaving him”.
Sick&Tired
September 17th, 2010
2:18 pm
Tea Partier & Proud of It
September 17th, 2010
1:59 pm
Isn’t part of being a conservative is to be financially conservative? This man has bitten off more than he could chew and you have the gall to call him a TRUE conservative?
It’s amazing to see a man who borrowed money (way more than he makes), complain about the Obama administration spending money it doesn’t have and borrowing money from grandchildren? Then his supporters have the audacity to call him a TRUE conservative.
These are the same people who blame the working poor for buying houses “they couldn’t afford”; for the housing market collapse.
You Deal supporters are the epitome of Hypocrites.
Dead heat: New poll show Nathan Deal’s lead over Roy Barnes wiped out | Georgia Elections News
September 17th, 2010
2:18 pm
[...] The latest Insider Advantage and Channel 2 Action News poll shows Democratic gubernatorial candidate Roy Barnes has closed a double-digit gap with GOP rival Nathan Deal, and now both candidates are in a dead heat. The poll comes at the end of a week of politically damaging reports on Deal’s financial health, which the candidate addressed Friday in a conference call with supporters. [...]
gfh
September 17th, 2010
2:18 pm
How quickly we forget….After King Roy lost the election to Gov. Perdue, he emptied the state treasury so that the incoming Reps would be left behind the eight ball right off the bat. I don’t consider that financial responsibility. That was taxpayer money that was squandered by King Roy. Don’t piss off Roy.
Jonathan
September 17th, 2010
2:18 pm
DP I thought the same thing. That area has had some of the most severe drops so the numbers don’t make sense. More like he hid something.
I wish we had some real journalists in GA who would dig deeper.
Nate "The Big" Deal
September 17th, 2010
2:20 pm
Yes, I am in the hole for 2 million. Or 3 million. Or 4 million. Or some millions. It just slipped my mind. I forgot. Beg pardon. But, vote for me anyhow. You don’t want some feller who will make drugs legal. Or some carpet-bagging uneducated barren woman. Or some feller who was born in Kenya. Sure, I stole — but I stole for you. I promise to bring back double-dipped chocolate peanuts at the Sears & Roebuck candy counter.
Lynn
September 17th, 2010
2:23 pm
Order will be restored shortly? Why, td, how very fascist of you! Can you goose-step, too?
Aquagirl
September 17th, 2010
2:23 pm
Has anyone heard more from the Grand Jury Investigating Deal’s Salvage Business, But Don’t You Dare Suggest It’s About Him Or You’ll Hear From His Lawyers?
Man, if they come back with an indictment, it’ll add yet another ring to this circus.
gm
September 17th, 2010
2:23 pm
To: tea partier & proud of it: I’m shocked you are voting for deal” I expect nothing less from your racist organization, please spare us that fore fathers crap, your fore fathers were a bunch of slave owners, exploited blacks and poor whites.
You tea scum are a joke around the world with your new found loyalty to America.
Where was you when George Bush was taking our country to the toliet?
FED UP
September 17th, 2010
2:25 pm
If this man is going to run for the states highest office why in the HELL would he get into this co-sign deal family or not without checking into it. Thats alot of money. Will he make these kind of poor decisions as our govenor? I’m independant and was leaning toward voting for him. However now I just don’t know.
Matt D.
September 17th, 2010
2:25 pm
ordinary citizen extraordinary time: “MATT go ahead and elect Roybama…Nathan is real …he is every man”.
I’m afraid I have to disagree that Deal is “every man”. When you talk finance in the millions of dollars, you aren’t talking about “every man”. If people earn millions of dollars honestly and through their great effort, I am happy for them. There could be questions about Deal’s earnings – and the way he made his money. I read no great blame for him in the failure of his son-in-law’ and daughter’s business.
GOT THE FAITH
September 17th, 2010
2:28 pm
Nathan took afew seconds and simply said Jesus is and has been my savior most of his life.”I was blessed with a christain mother and dad who instilled in me at an early age that without faith in him nothing we do on this earth will get us to heaven”.He continued,not with a bragging spirit but one of humility.When he finished most of these big ole south ga sheriff’s either had shed a tear or where alittle misty eyed.If this man is not sincere in his belief,don’t any of you worry God WILL deal with Mr. Deal.But I know within my own heart that he his a man of integrity,a man who has served the public,and not for his own personnal gain.Those of you who continue to blaspheme one of God’s own,I pitty you.I also hold an elected office and have been a public servant for 35 years and can go to bed at night with a clear consious knowing I’ve done my best to serve those who entrusted me.So just as the bold sheriff asked about Jesus I asked Nathan,”When you go to bed at night,is it with a clear consious and peaceful heart”?Without hesitation he simply replyed yes.I’m sure some will now target me about being a rural bible thumper so go ahead and make my God’s day,for I like my brother in christ Nathan Deal are protected by the blood that washes all our sins away.My country was built on the faith of God and I will defend her till the end and aint no one strong enough to tear us down.I encourage each and everyone to search for truth,for it will prevail.Thanks for your time cause i’m going back to serve YOU.
RenaP
September 17th, 2010
2:30 pm
“I believe that one of the responsibilities of parents is to help their children.”
No Nathan – the responsibilities of parents is to help their children learn to take care of themselves. Especially when they are grown ups and have children of their own.
Tracy
September 17th, 2010
2:30 pm
Vote this man in so he can steal Georgia’s tax funds as governor to pay off his debt.
Come on guys, don’t we feel bad enough that he had to step down from stealing federal tax funds due to those pesky ethic violations ?
On a serious note, Deal will win the election and Georgia will get exactly what it deserves for doing so, a State that’ll fall deeper into a cesspool.
Independent Minded
September 17th, 2010
2:32 pm
td=totally dumb.
Mishap
September 17th, 2010
2:32 pm
td,
The last few businesses to move to GA came b/c Perdue handed them tax revenue as “incentives”. We’re not talking about a few % off of state income taxes (which wouldn’t matter since they have no net income right now)…NCR actually collects payroll taxes of its employees and keeps them for itself. For NCR that was $130M over ~5yrs. That’s nearly 50% of their annual net income. Also don’t forget the CEO couldn’t be bothered to move down to low tax GA and prefers to stay in NYC which has some of the highest state/city taxes in the country.
The only thing Perdue did was start GA down the slippery slope where Texas/Florida beat us into submission w/ even bigger tax breaks and more educated workforces. We probably should have forced these CEO’s to sign extra long leases at their new HQ’s since none of them bothered to buy since they’ll move on when the corporate welfare dries up.
DP
September 17th, 2010
2:33 pm
Here’s the second issue from the earlier article on Deal that I hope the AJC is following up on:
http://www.ajc.com/news/georgia-politics-elections/deal-could-face-financial-613928.html
“In addition to investing about $2 million, the Deals signed papers in December 2005 guaranteeing payment on the first of what would become a series of loans: $506,000 from Gainesville Bank & Trust. Construction began on a 14,000-square-foot metal building, the front of which would be decorated to look like a log cabin.
The loan, backed by the property on Ga. 365, was scheduled to mature in September 2006. But that June, the Deals and the Wilders refinanced, pushing the due date back into the next year.
And in October, they went to another financial institution — Community Bank & Trust of Cornelia — for a second loan of about $1 million, according to documents filed in the Habersham County Courthouse. The Ga. 365 property again served as collateral, along with the Wilders’ home in Demorest.
Wilder Outdoors opened for business on Nov. 24, 2006.
The next summer, the business needed more cash. The Deals signed papers in June 2007 that increased the loan from Community Bank by $252,000. By the time it had been open seven months, the store had accumulated debt totaling almost $1.8 million.
Early in 2008, Wilder Outdoors needed even more money. Community Bank approved a new loan of $2.4 million, with which the Wilders and the Deals paid outstanding debts and provided the business with more capital. They were to make monthly payments of $15,000 for 23 months, according to loan documents, and then pay the remainder — almost $2.3 million — no later than Feb. 1, 2011.
Community Bank, founded in 1900, had come under scrutiny from federal regulators. In the three years since its long-time chief executive had died, the bank’s lending practices had devolved into disarray, the Federal Deposit Insurance Corp. would later report. Bank officials failed to sufficiently analyze the finances and cash flow of commercial borrowers. They didn’t adequately appraise property used as loan collateral. They didn’t keep track of construction projects their loans were financing. The FDIC would later list numerous instances of what it called “questionable lending activity.”
Regulators shut down Community Bank this January.
When the bank increased the loan for Wilder Outdoors in 2008, it required that the store’s inventory and equipment be listed as additional collateral. The property on Ga. 365, however, remained the primary security, even though it was valued at only about $700,000 — less than one-third the amount of the new loan.”
If you work through the math of all that, Nathan Deal and his wife invested $2 million of equity into the venture. The first 2 loans of approximately $1.5 million were likely intended, along with the cash from the equity investment, to complete construction of the store, fund inventory and also to fund anticipated operating losses for some period of time. The additional loan of $252,000 about 7 months later suggests that operating losses were huge. How do you burn $35,000+ a month of cash running one retail operation? Expenses would be the cost of a few employees (how much were Deal’s daughter and son-in-law drawing in salary?), utilities, interest on the loans of perhaps $10-$15K per month. Were there any customers?
If business results were that bad, how did Deal and/or his daughter and son-in-law manage to convince any banker in an arms length transaction to loan $2.4 million to the business, knowing that $1.8 million of it was immediately going to pay off another bank and possibly other creditors? The FDIC closed the bank that made this large loan and was critical of its lending practices? What are the connections between the principals of the defunct bank and Nathan Deal that would cause them to make such a loan?
Paddy O
September 17th, 2010
2:34 pm
td – early voting for what? Governor? I don’t think so. Do you really think that GA white democrats are liberal? You are advocating for a man so grossly inept and corrupt, that he quit his Congressional job and got duped by his own daughter & son in law. If you were German in Germany, you would support Hitler.
jc_atl
September 17th, 2010
2:35 pm
Sad thing is many of the uneducated in this red state who blindly vote for anyone with an “R” next to their name will vote for this guy regardless of his corruption and inability to manage his own finances.
Once again Georgians get stuck with Bad and Ugly because Good has enough sense not to run for governor.
Don't Blame Me
September 17th, 2010
2:35 pm
I voted for Handel.
Elephant Whip – Barnes and Cox put the Deibold voting machines in, no the republicans.
Paddy O
September 17th, 2010
2:36 pm
Also, the AJC needs to find out what type of salary Deal’s daughter & son were paying themselves on the Bill & Ted’s Bogus Business – if anything over $50,000 a piece, they were siphoning off the assets of the company prior to it becoming a going concern – very bad business practice.
SBurtch
September 17th, 2010
2:36 pm
I was undecided between Karen Handel & Nathan Deal. I voted for Deal, but with this, I can no longer support him as a candidate. Although I applaud that he is not filing bankuptcy, I do not have confidence in a governor who would make subjective business decisions especially regarding his family and their financial needs. What about his children’s responsibility in this? Millions in debt is so overwhelming to me. Where is the sound fiscal judgement we sorely need in our government? How can he stay focused on Georgia’s needs? In the best interests of all he should step down and take care of his family and personal responsibilities. This would show selfless, true integrity.
This does not mean I will vote for Roy Barnes. I can only hope we may have another alternative…
bushwacker
September 17th, 2010
2:36 pm
W freed 50 million people in 2 countries.
OBAMA is a SERIAL LIAR and put our children in debt so bad they will be lucky to keep 25 cents of every dollar they make!
Jimmy Carter is the happiest man on the plan, He will no longer be the biggest failure in the HISTORY OF THE PRESIDENCY!!!
That goes to the nasty ass cigarette smoking liar OBAMA.
S. P.
September 17th, 2010
2:37 pm
SEE Sarah Palin/Tea Party ENDORSED Karen Handel… Other people in other STATEs have listened to her… WHY didn’t you people that voted for N. Deal listen to HER????????
Paddy O
September 17th, 2010
2:41 pm
DP is providing the ONLY constructive thought on the first layer of this onion, regarding Deal and his blatantly shady dealings. Most start up business start small, with low over head than grow over time as their customer base grows. These start ups usually have owner/employees that draw a very small, if any, pittance in a manner to staunch the red ink. Deals daughter married the same type of guy who ran St Simon’s Island deep into debt – big dreams but little common sense business savvy – a case of the emporer wore no clothes – if Deal could not observe this cause & effect – why should I think he would be intelligent enough to run the state?
DP
September 17th, 2010
2:42 pm
And now that I think about it, how did a Congressman with a salary of less than $200K per year and a retired wife who is paying for 2 Georgia residences (and presumably owned or rented a place in Washington, D.C. as well while he was in Congress) come up with $2 million to put into one speculative investment? Of course, he had the windfall from his sweetheart salvage yard no bid contract with the state, but $2 million still seems like an awful lot of money.
Even if the money other than from the salvage business was legitimately earned and saved over the years, do we want somebody who would risk wiping himself out with one bad investment decision making decisions about how the state of Georgia should spend its tax revenue?
Elephant Whip
September 17th, 2010
2:44 pm
bushwhacker:
comedic sarcasm, right? Bush freed 50 million people in 2 countries…oh, kinda like inmates get free room and board…right???
Sick & Tired Of Being Sick & Tired
September 17th, 2010
2:44 pm
The way it works in the “real world” is that if you seek employment at one of the Fortune 500 companies they will run a background check and credit report on any potential employee. If the potential employee has bad credit, the potential employee usually DOES NOT GET HIRED.
So, why would the residents of Georgia want to but in office someone as Governor that can’t even handle his own finances??????? People Please Wake Up And Education Yourself Before You Vote !!!! This Dude Definitely Has Questionable Ethics !!!!!
Will Jones - Atlanta Jeffersonian Exegesis
September 17th, 2010
2:47 pm
Nathan Deal…Smarmy Vietnam law school draft-dodger getting his just desserts.
td
September 17th, 2010
2:50 pm
Paddy O, Read the front page of this news paper. Early voting started today in Cobb and I think Gwinn and will start Monday in Fulton.
Elephant Whip
September 17th, 2010
2:50 pm
Don’t Blame Me:
So why haven’t the republicans fixed it so that we can know our votes count?
And, by the way, I was not defending Barnes on the whole, just the validity of his cause in that particular suit. I did not like what Barnes did to teachers at the end of his first term and, although I don’t object to changing the flag, I did not like how Barnes did it or the flag he designed.
Another Lie????
September 17th, 2010
2:51 pm
WOW… Michelle Obama didn’t say “It’s hell. I can’t stand” regarding living in the White House??? WHO do WE believe anymore?????
Another Lie????
September 17th, 2010
2:54 pm
WOW… Michelle Obama didn’t say “It’s hell. I can’t stand it” regarding living in the White House??? WHO do WE believe anymore?????
Sowing Seeds
September 17th, 2010
2:55 pm
As a native of Louisiana, this brings back memories of old…….We loved our Edwin Edwards- he liked to party, but this is a very different state (Georgia). Please don’t vote Nathan Deal into office…..Georgia cannot afford to pay for this train wreck and embarassment. Georgia is not a fun state. VOTE “NO” for the clown Deal !!!
td
September 17th, 2010
2:57 pm
Elephant Whip “I was not defending Barnes on the whole, just the validity of his cause in that particular suit”
There was no validity in his lawsuit. It was just a way for him to let illegals and convicted felons to vote for Democrats. How much did the state of Georgia have to pay to defend this suit and how much money did he make? Also, how many more times has he sued the state on some frivolous lawsuits and how much did he make from the taxpayers? I do not think Deal has taken anything yet from the taxpayers except for a salary.
Jonathan
September 17th, 2010
2:58 pm
Its pretty obvious Deal has been getting cash income from his scrap yards and probably started this business for a write off and knew it would fail. As another poster said they probably paid family members crazy high salaries and the bank didn’t care because of his political connections.
He is a character straight out of “Man in Full”
Bettcha Deal has assets in other names hidden around Hall county…………
Mark
September 17th, 2010
3:00 pm
Even if he wins, it’s like Shakespeare’s MacBeth “Out damn spot, out!”. He can’t wash the blood from his hands, and it will be a tainted and poisoned governorship. How sad for Georgia, including Republicans.
Backroom Deal
September 17th, 2010
3:03 pm
This guy failed to list millions of dollars of debt on his financial disclosure form. If this was an “oversight” he is incompeting. If it was intentional he is dishonest.
And no, the average Joe doesn’t understand borrowing millions of dollars to support a child and their spouse.
He has been in Washington DC for so long he thinks everybody is a millionaire.
Jonathan
September 17th, 2010
3:03 pm
If Deal had any class or truly cared about our state he would quit now.
DP
September 17th, 2010
3:06 pm
In case anybody thinks I am sympathetic to the Democrats because I am giving reasons why I think Deal is probably a crook, Deal isn’t the only politician who has magically had fantastic returns in real estate over the last 7-8 years while most everybody else has taken a big hit. I don’t like crooks of either party.
Outgoing Senator Chris Dodd (D, Connecticut) has benefitted from a sweetheart real estate purchase that sounds a lot like Deal’s Gainesville purchase to me.
http://online.wsj.com/article/SB124545642440632999.html
“Now the Irish cottage on 10 scenic acres is bringing more trouble. At the start of the Irish real estate boom in 1994, Mr. Dodd bought the property with William Kessinger for $160,000. Mr. Kessinger has been a business partner of Edward Downe, who is a longtime friend of Mr. Dodd’s. In 1986 Messrs. Dodd and Downe owned a condominium together in Washington. In 1993 Mr. Downe pleaded guilty to insider trading and securities fraud and in 2001, as Bill Clinton was preparing to leave the White House, Mr. Dodd successfully lobbied to get his friend a pardon.
The following year, 2002, Mr. Dodd bought out Mr. Kessinger’s two-thirds share in the house and became the full owner. Mr. Dodd reported to the Irish government that he paid Mr. Kessinger $122,351, and Mr. Dodd says that a bank appraisal that same year valued the property at $190,000. From 2002 to 2007 Mr. Dodd reported its worth at between $100,001 and $250,000 on his annual Senate financial disclosure form.
But Hartford Courant columnist Kevin Rennie began digging this year into the mismatch between what Mr. Dodd paid to Mr. Downe’s business partner to become a full owner and what the property in Ireland was likely worth in 2002 amid the Irish land boom. Last week, when Mr. Dodd filed his annual financial disclosure form, it included a new appraisal from the same appraiser putting the current value of the house at $658,000.”
Something tells me the Wall Street Journal editorial page will be less interested in Deal’s sweetheart real estate purchase than they are in Dodd’s.
Elephant Whip
September 17th, 2010
3:06 pm
td:
Nice try. Address the fact that a federal district court made Georgia make modifications to its Voter ID law, which Georgia did under Handel, before it approved of the law.
That means that on first passages, it was a law that could potentially suppress votes, which is one of the most blatant anti-American propositions I can imagine.