Ted Turner has lost 89% of his $10.5BN Fortune [AOL in Freefall]

The New York Post ^ | July 26, 2002 | Paul Tharp

[Orual]

Things are tough all over.

According to my very quick and probably inaccurate calculations, Jackson owes a total of around $333,330,000 to banks and lawyers and doctors and agents and video shops and whoever.

On the mundane side: Jackson has subscriptions to People and Variety.

The proverbial straw.

[wardaddy]

Case can't cash in his options until AOL Time Warner's stock price -- anemic, of late -- begins to move up. Half of his options have an exercise price of $48.96. A million shares have a strike price of $61.20 and another million can be triggered at $73.44.

I doubt he's exercised or ever will but the expiration date is not mentioned. Is there a legal limit on expiration?

[Blood of Tyrants]

True. But there are many who are just stupid and vote for the DemocRAT because they have a "D" beside their name.

[Mudboy Slim]

"Two of the biggest victims from the merger's downside are Turner, who's lost $9.3 billion...."

BWAHAHAHAHAHAHAHA...sorry, I couldn't he'p it!!

ROFLMAO...MUD

[wardaddy]

I thought it was a synergy deal. For you to draw the conclusions you have, you must be either more knowledgable than I on the subject or misinformed. I will grant you the former given my ignorance on the matter. I'm not sure how to determine the culpability dust settling after this overvalued on both ends deal crumbled. AOL has some strong points as does TW but the combined mess just hasn't produced anything. I was always curious as to why since ostensibly AOL was the senior partner in the marriage, then why did Levin take over de facto and Case got a non CEO chairman slot. I doubt Case and Co. really had the muscle to deal with media property types. Pittman should have known a bit since he had a history in media. Levin took over from Ross who was a legend more or less as the last of the great studio chiefs. Somehow Tech/Nerds and Machiavellian LaLa Landers not to mention mercurial Ted and tough as nails Malone. Man lots of big egos in that Bunch. They all make Case seem unassuming. In any event....AOL/TW is headed for splintering.

[Lee_Atwater]

Was that in the story? I'm not as good a speed reader as I thought. My apologies to the Washington Post! As far as a legal limit on expiration, I don't believe there is a statute. The expiration is in the contract between principle (or principal) and agent.

[cinFLA]

His ex-wife Jane Fonda was much luckier and escaped major damage from the wipeout. In her prenuptial pact with Ted, she got a maximum of $10 million in AOL stock, but in the past year she gave away most of it to environmental causes and liberal Democrats running for public office.

I hope she gave them the stock and none of it was sold!

[BillaryBeGone]

...that means the organizations will pull it out of the government till instead

Which they would do anyway! So, we're not really "out" anything. Let's face it, those who want to take from the people/government are going to do so no matter what!

[Henrietta]

Whaa! Ol' liberal leftist @$$hole lost his money! Boo hoo! Couldn't have happened to a more deserving guy, IMO!

[Henrietta]

Sic transit gloria!

Translation please, oh Latin one!

[Jhoffa_]

That's tragic..

[Anij]

Afternoon all! :)

Aren't you forgetting a little something?

It TAKES money to MAKE money and Teddy Boy still does have $1.2BILLION dollars. Invested at 10% (Very do-able in high finance circles), he'll MAKE $120m dollars a year the first year, and assuming he only spends $20m of it, then the next year he'll make $130m+. By the end of 10 years, he'll be back up to $2b+ and with some shrewd investments (like cleaning up on the market when she REALLY falls, - I mean everything), his billions will be back in to the double digits within 15 years. He's hardly a pauper... - well okay it seems he is spiritually, but the man still be a billionaire, - yessiree.

FWIW, - Anij.

[Jhoffa_]

Go away...

[cmsgop]

LOL!, He is bumming my high man.......!

[Anij]

Why Jhoffa!

And I always thought Freepers was a forum which DEALT with reality... ROFL! - Anij.

[Anij]

Aahem...HE is a lady I'll have you know. ;) For future reference. - Anij.

[Jhoffa_]

To cast a pythonism into the mix..

"Burn her anyway!" (random people in the crowd: "burn! burn!")

[Jhoffa_]

(you know I was kidding)

[Anij]

I do?

Perhaps after we've been "properly introduced," you can tease me on a level that involves smoke and blood...

'Till then, - sorry about the dose of reality. I didn't mean to tinkle all over your whoopass party! ;)

Take some comfort from the fact that we *don't* all get what we deserve, and not his money, nor his IQ, nor his elitist affiliations will get him (or us) into Heaven.

Shalom aleikhem, - Anij.

[Jhoffa_]

Perhaps after we've been "properly introduced," you can tease me on a level that involves smoke and blood...

What are you talking about?

If it's the "Burn Her" comment that's directed at Turner, not you.

It's from a comedy where they towns people think they have found a witch, when it turns out not to be true they don't care and want to punish her anyway.

It's a play on Turner not really being broke..