Posted on 09/15/2010 5:27:16 AM PDT by Pan_Yan
In the midst of his campaign for governor, Nathan Deal faces such dire financial troubles that he must sell his home to avert foreclosure or bankruptcy.
Even if Deal liquidates all his assets, however, he still might be unable to repay a nearly $2.3 million business loan, documents reviewed by The Atlanta Journal-Constitution indicate. The loan comes due in full Feb. 1 — less than one month after Deal hopes to take office.
Deal’s troubles center on a failed business venture by his daughter and son-in-law. Deal and his wife, Sandra, invested about $2 million, but lost their entire stake when the business failed. The Deals also guaranteed a series of bank loans to the business as its debt doubled and then quadrupled.
Finally, the daughter and her husband declared bankruptcy, leaving the Deals solely responsible for an obligation that exceeds the net value of everything they own.
Officials with Deal’s campaign confirmed that the candidate is in a precarious financial position. They described the debt as a sensitive matter for Deal and his wife and their three grown daughters.
“There’s some financial sacrifice, and there’s some financial heartburn there,” said Chris Riley, Deal’s campaign manager.
In a statement late Tuesday, the campaign said: “Like most Americans, Nathan Deal has suffered financial losses over the last four years. He has obligations, and he will meet them.”
(Excerpt) Read more at ajc.com ...
When is the Establishment going to learn.
EVERYONE has bad times in their lives. Trying to make a political issue out of it, like they did with O’Donnel in Delaware, is going to backfire on the ones using these scum bag tactics.
Average citizens are tired of these slime bag political tactics. They want ideas and solutions not the same old politics of personal destruction tactics.
It is totally asinine that we are at risk of losing the governorship because of a primary win achieved by employing homosexual scare tactics. Deal is corrupt and getting his head kicked in over it. Now we see why he needed to be corrupt. Karen Handel would’ve cleaned barnes clock and cleaned up the capitol. Thanks Boortz you horses ass!!!
Sounds like someone who can relate to Americans hurt by 0bama’s economic catastrophe.
Certainly a lot better than the man and his party that’s been controlling Congress for 4 years that created it.
BS! If he can't handle his own finances, how can you expect him to do THIS job right?
His "ideas and solutions" for his own life haven't worked! This bozo has no business running a state.
So what? Making sound financial decisions is certainly a trait I look for in a public official. It comes down to risk management; losing it all is hardly a conservative outcome.
Geez, maybe Deal and his wife should do what alot of us commoners do when we get a little in over our heads - if we are eligible for overtime, then offer to put in extra hours. Or pick up part-time work.
Our governor’s race is truly a “who is the lesser scumbag” contest.
Nonsense. In this economy, small businesses are failing left and right. At least in Deal, you’d have a guy who knows how to run one in the Governor’s mansion.
Nevertheless, it doesn’t matter what the Atlanta Urinal Constipation throws at Deal, he’s up by 11 over failed former governor Roy Barnes. This seat isn’t flipping to the RATS this cycle.
Try actually reading the article before commenting. Your comments indicate you are completely clueless about the substance of this issue and are merely responding to the headline.
Boortz came out and openly endorsed Deal due to his disdain for Sarah Palin. For rural and suburban Pubbies, I don’t doubt that this played a huge role in Deal winning. What idiot personally guarantees business debt in excess of his net worth, in a business they don’t even own??
Additionally, deal was the rep who tried to resign his seat before the Obamacare vote, giving the dems one less vote needed to have it pass. After a tremendous uproar, Deal reversed himself.
His “ideas and solutions” for his own life haven't worked! This bozo has no business running a state.
The key is how a man responds to such situations.
No mention of his political party. Must be a ‘Rat.
What a mess. Loser daughter marries shiftless male. Neither one can find/keep a job. So “let’s start a bidness.” We’ll go first class all the way on daddy’s money and we’ll get rich.
Dumb daddy bites instead of saying Great idea, here’s a thousand dollars seed money, good luck.
Nathan Deal is the republican candidate for Governor. He won a very close and, as you can tell from the comments, hotly contested primary runoff.
Umm...
Are you for real? Snap back to reality.
Above all we cannot let Roy Barnes back in the Governor’s mansion. He was a disaster last time around. Karen Handel would have been by far the better candidate. My fear is that the GA Grand Jury is going to return an indictment agains’t Deal before election day. That would really be a plus for his campaign. What a nightmare!!!
Absolutely for real. Deal won by attacking Handel for writing a check to log cabin repubs.
Okay.
And you don't agree that that's a legitimate campaign issues? Supporting the assault on marriage and traditional values?
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