Here’s the headline: Meltdown of real estate company hits ‘A’-list jocks
We like to wallow in our self pity by saying things would just be easier for us “if”…
…we were handsome or beautiful
…we were rich
…we had professional advice
Etc.
I don’t know if you’d describe these professional athletes as handsome, but they had money and professional advice and neither are a difference for them.
New England Patriots offensive lineman Matt Light and about 20 other star athletes loaned more than $8 million to a California real estate company that teamed up with Fidelity Investments and Citigroup Inc. to invest in apartment complexes before collapsing and filing for bankruptcy protection.
Light, Toronto Blue Jays ace Roy Halladay and Los Angeles Angels slugger Vladimir Guerrero are among a who’s who of U.S. superstars who made unsecured loans to Irvine, Calif.-based Atherton-Newport Investments LLC. The real estate company filed for Chapter 11 bankruptcy protection in January and is trying to reorganize. The company lists the names of the athletes and the amounts owed to them in schedules filed in federal bankruptcy court in California.
Read it all here
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