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
Jonathan
September 17th, 2010
5:58 pm
I pay 12k a year property tax on a 2400 sq ft house in Buckhead, guess I could pay 2k a year and live in a 8000 sq ft house in Hall county but them my kids would go to the same schools as the dumbasses that vote for Deal and grow up retarded so I am happy to pay more property tax.
As an FYI many financial books recomend living in areas with high property taxes as you generally get better schools and services. For example MA and CT.
Jonathan
September 17th, 2010
6:05 pm
Yeah Paddy O,
Bush did a real good job on our economy and world standing………………..
Palin will also be a great president especially with Trig and co helping her with strategy…………she could use Deal as a financial advisor…………..
Paddy O
September 17th, 2010
6:06 pm
Jonathan – i think you aptly prove your stupidity. Buckhead is actually Atlanta – now, your wages are going to look higher because of the NEED TO PAY more for the higher cost of living – essentially, you have to bribed to live there. And, what services are you talking about? Almost all small towns (even as small as 3000 people – where there is NO congestion, NO crime, NO pollution/smog) – have standard services – water, sewer, recreation – what other elitest “services” are you demanding? The school system in Haralson County produces lawyers & doctors – how much higher quality of school system do you desire? Your arrogance is reflected in your President, as is the elitism. Your county/city has a very high rate of crime – mostly murder – is that an element that drew you to the location? Do you enjoy the traffic congestion? The inability to operate a good sanitary sewer system? The pollution? I am not enticed by these things, nor the need to throw away $12,000 on precisely what expanded services? Grady hospital? MARTA transit? I like living next to a horse farm with few neighbors.
Paddy O
September 17th, 2010
6:07 pm
World standing – are you asserting we Pander to Hugo Chavez? Why do you put such a high esteem on the opinion of foreigners who can not hold a candle to this country?
Paddy O
September 17th, 2010
6:08 pm
Jonny boy – you expect in the middle of a war – which was prompted by the feckless Bill Clinton – who also like to kiss ass to the inferior people of the globe – such as China & APEC – that the economy would boom? What is your opnion of Obummer sending young men to die in Afghanistan?
Paddy O
September 17th, 2010
6:11 pm
Your shallow snobbiness is also demonstrated by your slander of her son Trig – i guess your elitest position would have preferred that she abort (murder) him. YOu said you have kids – when did your children have a heart beat when they were in the womb?
td
September 17th, 2010
6:24 pm
Sorry I have not been here to defend you Patty O but it sounds like you are exposing Johnathan for what he really is (a progressive socialist) that would not vote for Deal or any other conservative in a million years and only cares about taking your hard earned money to redistribute it to the non producers in our economy.
BTW: Johnathan, I will put the students in East Cobb, North Fulton and Forsyth county, Marist, West Minister, GAC up against any students in the country and I bet their scores are just as good.
td
September 17th, 2010
6:27 pm
Jonathan, What private school do you send your children to?
EVERYONE HERE>>>LISTEN TO ME!!!!
September 17th, 2010
6:31 pm
Everyone here is making GREAT ARGUMENTS against both parties. Now lets give it back to them. Lets all figure out a way to prevent them from back room deals. Call for the charge. Lead. Call your House Chamber leaders. Have it put to a vote that no backroom deals go to Nathan Deal or any other likewise candidate except the salary he makes as governor. Don’t let him or any other win and sit in that office and shame it any more. Tell your leaders you want to put a legislation bill in November that prevents this from happening. Do it folks. Its your state. Its your country. Take it back. You have more power than you think. There is 4 mill in this state. There is 200 of them plus one governor. Are YOU gonna let 201 people dictate what they are gonna be allowed to do. Start utilizing the services you have. By the way you might want to check out THE POSTMAN movie with Kevin Costner. We are fast heading there…….END DE TYRANNY and OPPRESSION!
Jonathan
September 17th, 2010
6:33 pm
Well Paddy O just reading all you have written shows why people treat tea party people with such distain.
Bribed to live in Atlanta, you think all the business owners and multi millionaires live there because they can’t find jobs elsewhere? what planet are you on? many corporation owners and highly paid professionals can live anywhere they want and it sure isn’t going to be a backward place with neighbours like Deal or near illeducated illinformed teaparties.
Thats why there are so many multi million dollar houses in Atlanta and so many right wing fools living in trailers in rural GA blaming everything on the blacks or jews or carpetbaggers or satan or whatever else they come up with.
Also in case you didn’t know we are in a world economy and if the rest of the world has problems with us then it will trickle down financially. Obama has a much better grasp on this than Bush ever did. Have you ever actually travelled anywhere outside of GA?
Anyone who names their kid Trig is an idiot period. How can this be in question?
BTW who mentioned abortion and god?
Sorry Paddy O but you typify everything wrong with this country and what got us in a recession to begin with………
Paddy O
September 17th, 2010
6:37 pm
td – I voted for Chapman & Handel – would have voted for Eric Johnson. Deal & Ox were just to bloody crooked. I also remember the old democrats of Murphy & Barnes – they ARE NOT liberals like Obozo, so that argument goes out the window – last time around I would have voted for Cathy Cox (old SOS), but never for Taylor. I always thought Perdue never expected to win and was way in over his head. Jonathan though is a liberal elitest shallow snob.
Jonathan
September 17th, 2010
6:38 pm
td no quesion the schools you mentioned are great, but they are the exception and you need to be pretty weathy to live in those districts
I am lucky and can use the local public school but will probably have to choose between some of those mentioned when they get older,
what makes you think I want to redistribute weath? I don’t, I atually think we should raise sales tax in Atlanta to pay for more infrastructure
BTW I voted for Bush first time around and Purdue………
Paddy O
September 17th, 2010
6:44 pm
also Jonathan – a lot of the $$ folk live there because they really like to have their butts kissed, and the working class in ATL do a great job of that.
Paddy O
September 17th, 2010
6:44 pm
I did not vote for bush either time.
Paddy O
September 17th, 2010
6:45 pm
Please tell us what super services you receive for your $12,000?
Also, please tell us when your kids heart beat started when they were in the womb.
Paddy O
September 17th, 2010
6:47 pm
Georgians need to realize that the state BOE is screwing the entire state by allowing non-college bound students to take the SAT – it makes it look like our public schools stink, which maybe they do. But this policy is profoundly foolish.
Paddy O
September 17th, 2010
6:50 pm
your assumptions about me based on my comments are also grossly wrong – so, should we assume a lot of your other statement are also erroneous?
Liars and thieves
September 17th, 2010
7:03 pm
Hey gfh – check your facts (if that’s something you’re familiar with). Barnes let an enormous rainy day fund for Sonny and his cronies and they did nothing but piss it away! Don’t try and rewrite the economic history of the last eight years!
Jonathan
September 17th, 2010
7:07 pm
Well things like Marta, sidewalks, streetlamps, parks, worldclass resturants and arts all within walking distance are good. So is one of the few decent schools in the state. I seriuosly think we save a lot of money just by not having to drive 20 miles to get anywhere and am healthier for walking. When I fly I pay $5 on the Marta, friends pay $15 a day to park or $100 for a cab as they don’t live near a station.
Just so you know I don’t enjoy paying taxes and think they should be equalized throughout the state.
When you think about it a great proportion of Atlantas problems with congestion and polution are caused by people commuting into the area anyway.
I do agree with you about the SAT.
Anyway we are way off topic this is about Deal and he is a disgrace to the GOP and GA.
Paddy O
September 17th, 2010
7:12 pm
I agree with you about Deal – he is a disgrace. I did ask – if he looks in the mirror & comes to a correct conclusion that he needs to resign – who do the repubs replace him with?
Paddy O
September 17th, 2010
7:14 pm
the same can be said about all urbanized areas – taxes do not go down as you would think with the increase of population density. thus, growth is very, very bad. I don’t miss all those things you mentioned – so, my place is better for me & cheaper (far more economical). ATL has too much pollution, congestion & fatal crimes – as most urban places do. Regarding high flying states & their dem governors – look at California, plus NJ has a repub gov & has had frequently in the last 40 years.
Paddy O
September 17th, 2010
7:17 pm
Now, the equalized statement indicates you are chummy with the socialism of obummer. State taxes are equalized – each governmental entity has its own source of taxes. For those with highly educated people who think too big, too Utopian, their local taxes are huge to pay for those pollyanna urges – it is reflected in you paying $10,000 more than I do – and for me, there is NO benefit. I want to get out of paying school taxes because I have no kids.
Lynn43
September 17th, 2010
7:19 pm
Paddy O, Off the subject, but I agree with you that as long as states are going to be compared on the basis of SAT scores, students not going to college or technical school (any higher education) should not take the SAT or ACT, but school systems have no control over who takes these test. Students register on line, and school systems cannot control who signs up. Sorry. We have to take what we get.
Paddy O
September 17th, 2010
7:21 pm
the sad part – GA white democrats are smarter than their republican colleagues – each year, Perdue selects the estimate for economic growth over the upcoming fiscal year – each year under Murphy, the state picked the lowest growth #. That way, when the supplemental (mid year) budget was considered, there was a big slush fund to do fun projects with. Perdue, even when he knew the next year would be flat or recessive, never picked the lowest #. Plus, Perdue floated a billion worth of bonds every year – that will come back & bite us hard – and, he never addressed mass transit nor water reservoir construction. amazingly inept.
Paddy O
September 17th, 2010
7:22 pm
Lynn – somebody MUST urge the kids at their school to take the test – do you know what % of graduates take the test every year? You seem to have some good information!
Paddy O
September 17th, 2010
7:23 pm
Also, is there no fee to take the test? A minor $25 fee would knock out those pretenders who are just going in for the fun of it.
td
September 17th, 2010
7:23 pm
Barnes is the same type of liberal that Obama is. I worked for the state during his first term in office and I can tell you he placed the same type of people to run the agencies as Obama does now. BTW: Sonny’s appointments were not much better (like I have said before RINO). Deal may or may not be a disgrace but he still is better than Barnes.
td
September 17th, 2010
7:28 pm
Paddy O, There is a fee to take the SAT but most school systems pay it for the poor children so they can take the test.
The Decision is Clear
September 17th, 2010
7:30 pm
Nathan Deal is a good man and is most likely and honourable man for wanting to pay his debts and not filing bankrupcy. I have empathy for Nathan Deal as we have all had financial difficulty. However, when I myself had financial difficulty in my life I was not focused and I did not make wise decisions. Praise God, my family go thru that time. However, having known what it is like to have the pressure of overwhelming debt, how in the world can Mr. Deal be focused on the things that are most important to Georgians like reducing unemployment and reducing our debt. Unfortunately, Nathan Deal is not ready to be governor. He needs to put his focus on getting his financial house in order. The he can focus our fixing the problems in our state.
Lynn43
September 17th, 2010
7:33 pm
There is a fee to take both the SAT and ACT, and it is not cheap but less than $100. The ACT is cheaper than the SAT. My information on the price is not handy or I would quote the exact amount. Also, information on these tests is given to all student through announcements, flyers, and posters, but counselors do not advise individual students to sign up.
Lynn43
September 17th, 2010
7:44 pm
I don’t know percentages taking these tests, and each county will be different. This test is open to junior and senior students at the same sitting, and no distinction (in reporting) is made between the two groups. Most students also take them more than once as they are offered several times a year. Statewide (I think) over 63,000 took it last year. One state (our West) only had 50 students take the SAT year before last.
Paddy O
September 17th, 2010
7:46 pm
should the student not have a B average for the school to pay for the test?
Paddy O
September 17th, 2010
7:47 pm
they still offer a PSAT?
Lynn43
September 17th, 2010
7:53 pm
My system does not pay for tests. The PSAT is offered to 10th graders.
MG
September 17th, 2010
8:15 pm
Deal is going to be too worried about figuring out his personal issues and repaying his debts than trying to figure out how to fix the problems in our state. If you vote for Deal you are shooting yourself in the foot and if you are voting for Deal ONLY because he is a Republican and you can never vote for an “evil Democrat” than you are just an idiot and are abusing your voting rights. I WANT TO KNOW WHAT BARNES DID THAT WAS SO HORRIBLE? ONE OF YOU HATERS PLEASE ANSWER BC ALL OF YOU AVOID THIS QUESTION.
Jonathan
September 17th, 2010
8:35 pm
Sorry but Nathan Deal is not a good man in any form. If he was he would have disclosed the personal information about himself to voters before his run off with Handle. What else is he hiding?
hl
September 17th, 2010
9:03 pm
MG..they can’t answer. Facts don’t matter among some folks.
Nathan Deal is running and hoping to be elected so he can create his own TARP fund. He has probably conferred with Paulson and the previous President to see how this is done. Bailouts for me but not for thee.
True republican
September 17th, 2010
9:54 pm
These two loans are not personal loans they are BUSINESS LOANS to aid in expanding a profitable business.
These loans are to Gainesville Salvage with a CONTINGENT LIABILITY to Nathan Deal and Ken Cronan which means these loans are backed by collateral form Gainesville Salvage and Nathan and Ken are second to this collateral.
Loan one is for $2.5 Million to purchase another auto salvage yard in Metter Georgia and is collateralized by a 34-acre property and commercial buildings and equipment valued at $5 million. This is 50% loan to value which is EXTREMELY STRONG.
Loan 2 was a $350,000 loan for an adjacent office building at their Gainesville location which is collateralized by the building and 3.4 acres valued at $574,000. This is a 61% loan to value which is also EXTREMELY STRONG.
Both of these loans are PERFORMING LOANS and all payments have been made on time and will be in the future.
This is a thriving business that creates tax revenue for the state, provides needed services to the state and because of these expansions has led to the addition of 10 NEW JOBS to the area.
This is hard for many on the left to understand because most of them have never worked in the private sector. Basic economics teaches us that to efficiently grow a business you have to leverage your capital. This is done by debt. Most people think debt is a bad thing in business. Any successful business person will tell you that to effectively grow a business it is sometimes necessity to incur some debt. The problem that small businesses have had in recent times is lack of accessibility to leverage their capital through tools such as this. Nathan and Ken were able to get these loans because of the EXTREMELY STRONG Loan to Value and STRONG FINANCIAL HEALTH of their business.
I apologize to the democrats on this list for using so many big words. I hope I did not give any of you a stroke for using such complicated economics in this post but that is the way business is conducted.
I know most of you you on this list are slow but I still think you can derive from my post above where my vote will be placed.
Jonathan
September 17th, 2010
10:37 pm
True Republican: No one has disputed the loan ratio to his salvage business. Its the fact he did not disclose it that is the issue as you well know.
Please stop trying to muddy the waters the issue is very clear to eveyone.
Why don’t you tell us about the other loans he is foreclosing on? I would love to hear the good business sense in the hunting store loan. Also how he qualified for it aswell? Also how Deals part in helping a bank close down costing the state 135 million dollars is good for business?
While your at it please tell all the Republicans who voted for Handle why this wasn’t disclosed before the run off?
Also as a business man please tell me if you would let Deal manage your business and sleep well at night?
By your posting you seem smart enough to know that Deal is a crook you just don’t seem ready to face the fact…………..
Deal. Real. Need to reveal. | Kyle Wingfield
September 18th, 2010
6:44 am
[...] your personal financial troubles aired publicly can’t help — no matter how you try to spin it as a chance to relate to other Georgians who have fallen on hard [...]
The Centrist
September 18th, 2010
4:12 pm
They folks you need to stop talking about Middle and South Georgia. According to the Mason Dixon poll, it looks like they learned their lesson from electing Sonny and they are NOT supporting Deal. Deal’s support is primarily in North Georgia, Cobb and Gwinnett. South of I-20, Deal is being treated like dead meat.
The Centrist
September 18th, 2010
4:22 pm
I have no-bid contracts with the State, use my position as a Congressman to keep pressure on my buddies to keep the contract, to insure a positive cash flow for said business, that I wrail against government spending, borrow money for an at best questionable business deal, voted against predatory lending and funds for bank regulators, and keep forgetting to disclose my loans or all of my sources of income as required by law. What’s My Name?
The Centrist
September 18th, 2010
4:37 pm
Some people use big words but do not know what they mean. Economics is the social science that analyzes the production, distribution, and consumption of goods and services. Bankers are financial intermediary that accepts deposits and channels those deposits into lending activities. Some economist work for banks to follow investment and market trends, but no bankers work for economists.
The Centrist
September 18th, 2010
4:43 pm
The State of Georgia is the worst place to use as an example regarding banking practices. Why don’t we hear from the GOPONO or the liberal press that US taxpayers are going to cover $1 trillion in Georgia bank losses. These banks used “no rules, just lend” loan practices and were fostered on by the Perdue when he got rid of the predatory lending laws.
The Centrist
September 18th, 2010
4:59 pm
Most of the Georgia banks, located in mostly conservative areas, closed by FDIC have been bought by out-of-state banks. Why? It looks like their state legislators did not use them as their own private piggy-banks as much as Georgia.
Miss Peach
September 18th, 2010
6:09 pm
Deal’s campaign ads linking Barnes and Obama will likely backfire. African-Americans put Barnes over in his first gubernatorial run. They turned out en masse to vote against that Republican bigot Skandalakus (sp?) who was running for Lt. Gov. They will turn out again.
Dgator
September 19th, 2010
12:13 pm
Nathan Deal should withdraw from the race for governor and give his Republican nomination to Karen Handel. While I would have an extremely difficult time voting for anyone that aligns themselves with Sarah Palin, it is the right thing to do for the Republican party and the state of Georgia. Nathan Deal needs to do the right thing.
While not debating the reasons or sanity for all of the loans Nathan Deal is on the hook for, there is no debate that the weight of his financial burden will keep him from solely concentrating on the business of running the state. People facing such daunting financial crisis often can’t eat, can’t sleep, can’t focus and are sick to their stomach trying to figure a way out of their mess. Nathan Deal needs to be spending every waking hour working in his private business trying to figure a way to make enough money to avoid bankruptcy. There is no way that Nathan Deal can deal with his personal financial issues while giving the State of Georgia the attention we deserve.
maartjekogel
September 19th, 2010
1:26 pm
KungFuPanda2.net
Warhorse
September 19th, 2010
2:01 pm
If Deal was a real man he would just withdraw and let Karen Handel run so that the GOP does not get obliterated, leaving us with bigmout Roy Barrnes for the next four years.
asus eee
September 19th, 2010
10:40 pm
Wow!
Well put
design.