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 ...
The log cabin mission statement is a conservative manifesto with civil u ions attached. I don’t believe that gay marriage is recognizable in a biblical sense, but I do believe that if gays want to share the fruits of their own labors with their chosen partner, there should not be legal obstacles to that. Karen Handel wasn’t supporting gay marriage and it would never happen in GA anyway. Roy barnes on the other hand will return us to the period of the UN style state flag, unlimited pandering to teachers groups, and the institutionalization of Dekalb County government officials and trial lawyers population all areas of state government.
Palin picked the best of the Republican candidates by endorsing Handel.
Palin picked the best of the Republican candidates by endorsing Handel.
Palin picked the best of the Republican candidates by endorsing Handel.
“Our governor’s race is truly a “who is the lesser scumbag” contest.”
Eric Johnson would have been the right man for the job. Too bad he didn’t have the name recognition.
If Deal had come out with this before the election, we could have gotten Eric Johnson as our governor. His decision to remain in the dark about it means that we will probably get Roy Barnes instead.
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