Governor receives land from bankrupt daughter
Just in from the Associated Press:
The daughter of Gov. Nathan Deal has transferred Habersham County property to her father that had been used as collateral in a failed sporting goods venture.
Habersham County records show Carrie Deal Wilder and her husband Clint Wilder had lived on the nearly 16-acre Habersham County property. The couple declared bankruptcy last year, leaving Nathan Deal and his wife, Sandra, on the hook for some $2.3 million in loans.
County property records show Carrie Deal transferred the property to her father for $10 on Dec. 31.
Jimmy Allen, who oversees personal finances in Deal’s blind trust, said he expects the property will be sold to help satisfy some $1.35 million in debt he incurred from backing Wilder Outdoors.
- By Jim Galloway, Political Insider
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289 comments Add your comment
Susan
January 20th, 2011
4:04 pm
This situation has nothing to do with any of you. It has nothing to do with his ability to be Governor. If your children behave, does your boss immediately tell you that you will not be able to do your job? Get off this crap and find something beneficial to complain about.
steve
January 20th, 2011
4:07 pm
Just another good ol Boy from ga..
allen981
January 20th, 2011
4:08 pm
Have any of you folks ever helped a family member? I’d do anything for my daughter, including co-signing a business loan.
The business went sour, and Deal has basically sold/cashed in everything he had, including retirement accounts, to pay off debt. Personally, I prefer having a man who’s seen the downside running government; he knows and understands business (even if it didn’t work) and what it means to try and improve the plight of you and your family.
Criticize him for his decisions if you want; just don’t bring family finances into it. He’s satisfying his obligations in very difficult circumstances, rather than running away. That’s a plus, not a minus.
DDT
January 20th, 2011
4:08 pm
Old Real Deal will just do like Old Stupid Sunny and pass some new taxes to help the state cover his pocketbook. I wonder how that little tax increase that Old Sunny passed, you know the $35.00 speciality tag fee is doing now that its going into the state slush-fund instead of for wildlife or other good causes. I gave up all my wildlife tags since the money is now going towards state retirement, benefits and stupid extra paid holidays, sick days and perks for the state employees INSTEAD OF A GOOD CAUSE.
Fairness
January 20th, 2011
4:08 pm
Georgia is just blind loyal to the good ol’ boys. They use to be good ol’ Democrats but now it’s the same type people only they are Republicans now. I guarantee a lot of the current ones had dads that were part of the old Democrat establishment. It’s amazing that so many in Georgia have no problem putting all the blame for any problems on the Federal Government but keep putting Republicans back in office in Georgia even though Georgia seems to lag in everything behind the rest of the country (like education & unemployment rate). There really is no excuse for this state for Barnes not getting elected. He was the better choice by far. We deserve what we get I guess.
Reverie
January 20th, 2011
4:08 pm
Susan, you are spot on. These are the same people that instantly jumped on Palin when she was nominated for VP, smearing her with unfounded conspiracy and innuendo. These are the same people that have called every Republican President a moron, a figurehead or stupid since the Eisenhower administrations. They are blinded by their hate, their inability to think unless fed directly from the party spoon, and their need for attention. Again, this is why the Democrats are dead and gone in this state.
PLEASE TAKE US BACK 2 DA 1950'S GUD OLE BOY DAYS
January 20th, 2011
4:09 pm
WITH PEOPLE LIKE NATHAN DEAL IN OFFICE,IM GLAD SHERMAN BURNED DOWN GEORGIA!
fergie
January 20th, 2011
4:09 pm
This is just the beginning. This man is broke. He’s homeless. He’s not better than you or I. Except he’s a criminal. But thats what the voters of Georgia wanted is it? I hope he steals you blind.
Don
January 20th, 2011
4:12 pm
Uh Huh to all you REPUBLICANS AND TEA PARTY FOLKS thats what yall get , you’d rather see a Snake in office rather than Barnes but yet Deal is given on the job training.. sad GA is sad !
Steve
January 20th, 2011
4:14 pm
This looks bad to people who don’t understand real estate and bankruptcies and there’s no point in trying to explain it to them, these are probably the same people who blindly sign any document put in front of them without understanding it or asking what it means. Deal has so many people watching everything he does (the AJC included) that there’s not a chance his handlers and lawyers will allow any thing shady to go on.
Atlanta CPA
January 20th, 2011
4:14 pm
I actually do a lot of bankruptcy work and this doesn’t pass the smell test unless Deal’s Daughter had pledged the land as collateral to her father. If that was the case the transaction would have been handled by the court, the general creditors are being screwed.. I am sure Deal is no longer bankrupt and is on the road to riches. To the victor goes the spoils.
PLEASE TAKE US BACK 2 DA 1950'S GUD OLE BOY DAYS
January 20th, 2011
4:14 pm
NATHAN DEAL I WANT YOU TO SCREW THESE SUPER STUPID REDNECKS OVER AGAIN AND AGAIN AND AGAIN!
P.S NATHAN DEAL AS HITLER IS PRICELESS!
Aquagirl
January 20th, 2011
4:14 pm
Yes, some of us are completely uniformed as to the maneuvers used when you’ve gone bankrupt and screwed over other businesses that advanced you loans and merchandise. I’m so happy the Republican apologists are here with their deep knowledge of how to leave others—like the failed bank which lent the money, the unsecured creditors, and so forth—holding the bag. Thanks y’all! Now I will go get my daddy to co-sign a loan for which he’s completely unqualified, so I can go play with $5000 fishing reels and say it’s a job.
DDT
January 20th, 2011
4:16 pm
And for all you people out there that are saying money changed hands under the table, thats not the case. The Real Deal took a IOU for that $10.00 and deposited in the state govererment retirement account so all the state employees will get to share it and the interest off of it for years to come. The man should be on Wall Street.
Mishap
January 20th, 2011
4:16 pm
Tom,
Deal’s daughter didn’t overcharge her credit card or need help cosigning on a car she needed to drive to work. They leveraged everything they had and everything Deal had to build a store in a distant part of town w/o any experience in the industry. That’s not being supportive…that’s idiotic. I can only hope the guy’s smart enough to get his finances in order w/o raiding to public till (all too likely given Perdue’s performance).
D Wade
January 20th, 2011
4:18 pm
Transfering property with substantial value for $10. Looks like income to me. Take note IRS!
Say whaaa?
January 20th, 2011
4:18 pm
You can bash liberals all you want for not trusting this guy who was voted teh 4th most corrupt in Congress and resigned at midnight under the cloud of an ethics investigation about him using his congressional staff to pressure the state to continue a program that benefited a company he partially owned. So yeah… this may not be criminal, but everything this guy does needs to be suspect. He is not to be trusted with the State’s checkbook.
Hmmmmmmm
January 20th, 2011
4:18 pm
Don, give it a break! They are ALL CROOKS! Repub and DEMS….
dmcsga
January 20th, 2011
4:25 pm
I really would like to know myself how does Deal pays on 1.35 Million on a Gov. Salary and it shows that his salvaging business wasn’t a home run either. So with this he now owes 3.35 Million including the 2 million his daughter owns? What are the payments is it financed over the next 400 Years?
grand ole party
January 20th, 2011
4:25 pm
I was shocked that when these obvious ethical issues and financial problems were discovered PRIOR to the election, that Deal was still elected. Roy Barnes was not the best candidate by far, but my goodness, Nathan Deal being elected just shows how bad the republican wanted the state house. Talk about a double standard…..No Democrat or Libertarian for that matter would have been elected (given a pass) statewide with Nathan Deal’s bagage. Pretty pathetic !
DDT
January 20th, 2011
4:26 pm
Dont worry about Old Real Deal, if he gets hard up and has to get a second job to pay his payments I’m sure Old Sunny will give him a job driving one of his grain trucks of guiding fishermen on one of his private/taxpayer funded lakes.
Democratforlife
January 20th, 2011
4:27 pm
And this is who the people of Georgia elected to handle the state’s budget! He can’t even manage his own finances. What a joke!
pn
January 20th, 2011
4:27 pm
Is the blog monitor asleep?
punkin
January 20th, 2011
4:28 pm
There some agencies with the State that will not hire you if have a poor credit rating and bad debt. Go figure……
Chris
January 20th, 2011
4:28 pm
You got what you voted for. And for all those coming to Deals defense, we will see how that works out for you in a couple of years.
THANK YOU!!!
January 20th, 2011
4:28 pm
I agree with Kay!!! I have always felt that some kind of way the taxpayers are going to end up paying for this debt. To quote one my favorite songs, “It was done so smooth, it had to be a plan!” That’s how I feel about Deal’s debt and the “blind” trust. It will be interesting to see who the “buyer” is going to be if the land is ultimately sold.!!!
DDT
January 20th, 2011
4:28 pm
To be fair, Barnes could also hire him on to be an expert or paralegal in his firm considering all the cases tries in front of judges he appointed.
REMENBER /you never know when./FLA,lotto.....
January 20th, 2011
4:29 pm
Have you heard about the cover ups in habersham county/politics/2010.,,ALL the way back to.1978
COVER ups..I wish date line/20/20,/fox/nancy grace/would investigate…Bring it on,ask the Gvernor!..have you ever heard about the DIXIE mafia!! Please ask him TV,2/5/11, anybody..watch the
BOY, that be the GA, governor”s expression…The TRUTH will set you free..Maybe a JAIL cell,too!!!… Just a thought,,, to all who voted for him!!! I have heard rumors??, north ga..politics
cary
January 20th, 2011
4:29 pm
Dumb Libs,
What an intelligent, rational, classy response! You have just proven that you and your ilk are a bunch of classless, ignorant rednecks who can only offer profanity in a sophisticated debate, not facts.
Aquagirl
January 20th, 2011
4:30 pm
Oooh—Dumb Libs, I obviously hit a nerve. See a therapist about all that women-hating before you find yourself tap-tap-tapping in the airport restroom.
emack06
January 20th, 2011
4:30 pm
WE WARNED YOU ABOUT THIS CORRUPT DEAL. Now that you numsculls put this guy in office, what do you expect? There was nothing ethical or moral about this deal. She should be held responsible for her own debt like countless other americans are held to. Repughs constantly tout about people taking responsibility for their own actions…well….I want to see the Georgia tea party protest this. I would not be surprised to hear Nathan has already finagled Deals with his cronnies in exchanged fro gov. contracts in order to settle this debt.
Lesser of Two Evils
January 20th, 2011
4:31 pm
It was the lesser of two evils Chris. The last thing this State or Country needs is career politicians like Barnes. particularly Dems. Hopefully we can get more 3rd part candidates for better choices.
DDT ( the real one, not the stupid one at 4:28)
January 20th, 2011
4:33 pm
God, you need help or a lobotomy.
cosmo jacket
January 20th, 2011
4:35 pm
There is nothing wrong with any of this. Drop the insinuation and accusations that something is amiss with this transaction. I can’t believe I agree with DublDawg, but you are spot on…
It's to avoid paying taxes
January 20th, 2011
4:35 pm
Although Carrie Deal declared Chapter 7 bankruptcy, she would still be liable for the property tax on the land. Since Nathan has a job, he has income, and therefore he could deduct those taxes.
It may also be that if/when the land sells, the daughter does not have the funds to pay for the various attorney fees, while Nathan can get somebody on his staff to do it for free.
However, I bet $5 that the land is purchased by the State of Georgia for $100 million to build an airport for Nathan’s aviation company.
DDT Imposter
January 20th, 2011
4:36 pm
enter your STUPID comments here
Gov.-elect Nathan (don't call me Shady) Deal
January 20th, 2011
4:37 pm
I must ask that the media and the citizenry stop focusing on my small problems and join together to move this great state forward. My esteemed predecessor as Goobernor, Hon. Sonny Perdue, has instructed me well on how to manage my personal finances while I am Goobernor.
If this unwelcome and unwarranted attention does not cease promptly I will have to address the gay issue in no uncertain terms, as Jawjans want their Governor to remain ever-vigilant on the threat of homosexuals secret crusade to invade our Christian state.
Gman
January 20th, 2011
4:38 pm
Only in the great state of Georgia!
emack06
January 20th, 2011
4:38 pm
For all of you idiots supporting this decision by Deal and his daughter, I would agree with you, if Nathan was not in the position to use the power of the governorship to make this debt go away. If he actually worked and earned the money to payoff a 3 million dollar debt then this becomes a non-issue. But we all know that will not happen.
ZingerKing
January 20th, 2011
4:39 pm
It is amazing to me how quickly people assume that something is wrong with this deal. A father guarantees a loan for their child (that’s a good thing). The kids opened a business (that’s a good thing). The business didn’t work out and the father now owes the money (that’s life). A piece of collateral is passed to the father that was in the loan (right thing to do). To all of the conspiracy theorists, what’s the problem. You don’t like people that take responsibility. You don’t like people taking risks? Maybe it’s because it is someone you didn’t vote for, therefore you believe everything they do is corrupt (BINGO).
"Figure it out" has it figured out!
January 20th, 2011
4:39 pm
“Figure it out” posted at 3:33 and did a fine job of explaining the mechanics of the land transfer. I’m no Deal fan, but I’m absolutely amazed at the level of ignorance of property ownership matters shown by many of the posters here. Anyone who is not on welfare and has more than a $5,000 net worth should know how the mechanics of loans, guaranties, and ownership works. If not, you need to learn.
Sorry to let the wild-eyed Liberals down, but there is not a conspiracy here. It looks more like a guy who tried to help his daughter and got burned in the downturn.
Chris S
January 20th, 2011
4:42 pm
The frightening thing about the level of ignorance expressed here is that many of the people who comment also vote. There’s nothing smelly or fishy about this transaction, and the article doesn’t suggest there is. It sounds like Gov Deal guaranteed the loan, so it’s completely legitimate for him to take the land, sell it, and use it to pay off the creditors. If something fishy is going on, the creditors can easily reverse the transaction in court.
The fact a political figure is involved in a land transaction doesn’t mean it’s unethical. It reminds me of a story about a candidate who lost an election when his opponent accused the candidate’s wife of being a thespian–ignorant people should stop voting, but perhaps they’re too ignorant to know that.
ncgreybr
January 20th, 2011
4:43 pm
Whadda ya wanta bet that down the road some lobbyist will make Deal an offer of 5 million for that piece of property?
Understanding the Democrat mindset
January 20th, 2011
4:44 pm
No wonder so many Democrats are posting their crazy conspiracy theories here. They don’t understand anything about money other than how to get it from the gunmint and how to spend it as quickly as possible. Their version of the american dream is a welfare check showing up on time. Losers.
Ulric
January 20th, 2011
4:45 pm
NASTY, STINK, ROTTEN, SMELLS TO THE HIGH HEAVENS, OH BOY, REVOLTING, S(TEA)L PARTY MEMBER, TIME FOR RECALL, WHAT DO STATE LEGISLATORS HAVE TO SAY, DISGUSTING!
Am I clear enough???!!
jo yo
January 20th, 2011
4:45 pm
One of the “ethics” problems I have is why did Deal hide all his financial problems until after the primary. Karen Handle would have probably won the primary had we only known.
emack06
January 20th, 2011
4:47 pm
“Lesser of Two Evils”….please, Barn is the “less-evil” guy. I would take an honest career politican over a corrupt outsider…but then again, Nathan is no outsider to politics.
Ramguy
January 20th, 2011
4:47 pm
No there’s nothing tricky about this. But as someone stated what happens next is what we should all keep our eyes on. Somebody stated that Deal was just being a good Dad. No he wasn’t. A good Dad would have told his daughter that this was not a good investment and not just given her a blank check and told her to start out smaller. Deal has stated that Financial experts had told him this was a good risk. I don’t believe it. Even if the economy hadn’t gone south this store still wouldn’t have made it. There’s a reason stores like Bass Pro Shop haven’t located in that area. It was beyond being a bad decision on Deal’s part…..it was just plain stupid.
Casper
January 20th, 2011
4:50 pm
all you stinking liberals smell fishy.
dmcsga
January 20th, 2011
4:50 pm
Cary, how is it dumb to ask the question how he will pay back $3 Million on his salary and if you look at his tax returns on businesses that didn’t earn much. I would like to know. According to public records GA Gov. earns about $136,000 per year so how can you pay a $3 million debt back and it doesn’t include any other overhead such as regular mortgage, cars, insurance, food, etc. I really would like to know maybe I am missing something.