From CEO to Pizza delivery guy - Page 2 - GoFuckYourself.com

the Shemp · 03-21-2009, 10:18 AM

He was CEO of his own company...he made most of his money previously working for a company where he bought and sold stocks for institutional clients...
so he left a great job to start up on his own and he failed... maybe he is not CEO material...

sweetcuties · 03-21-2009, 12:32 PM

I saw the story last night on 20/20... What I don't understand is why didn't he pay off his house when he was rolling?? He topped out at 750k which will drop him down to 500k being in the 28% tax bracket. He should have paid off his mortgage or most of it... he had 500k to start his own hedge fund that didn't work and he hasn't made a mortgage payment in 2yrs, very sad story but a great 20/20

kane · 03-21-2009, 12:36 PM

Quote:

Originally Posted by sweetcuties

I saw the story last night on 20/20... What I don't understand is why didn't he pay off his house when he was rolling?? He topped out at 750k which will drop him down to 500k being in the 28% tax bracket. He should have paid off his mortgage or most of it... he had 500k to start his own hedge fund that didn't work and he hasn't made a mortgage payment in 2yrs, very sad story but a great 20/20

It looks like he made that good money for a lot of years, but it also looks like they spent it as he made it. He talked about Aspen ski trips and exclusive vacations as well as country club memberships and things like that so I have the feeling it went out just as fast as it came in.

notoldschool · 03-21-2009, 12:48 PM

Quote:

Originally Posted by CAMOKAT

Fucking dumb ass that lived his life to the max. Golf, vacatons, trophy wife.. I bet he had less than 50K in his savings the whole time. They haven't made payment on their house in 2 years? what the fuck is that about?

Actually he had a million in savings then lost it all staying in that fucking house. He was down to 500,000. in savings and fucked him self with bad investments. He is a fucking retard and he deserves the dissapointment his family will have in him forever.

RadicalSights · 03-21-2009, 12:51 PM

What a fucking loser.

seeandsee · 03-21-2009, 01:36 PM

rich fucking pizza delivery fail

SilentKnight · 03-21-2009, 01:37 PM

I can't generate any sympathy for this guy (or his wife) - although I feel sorry for his children.

"Sorry kids...your mother and I spent your future education and inheritance...living the lavish lifestyle."

This is typically what happens when you put all your eggs in one basket and don't plan for a rainy day. The moment they couldn't make their mortgage payment - the 'For Sale' sign should have gone on the front lawn. Instead - they buried themselves deeper in the financial hole to keep up the appearance of wealth and status to their friends, family and neighbours.

And now they've got a real dose of reality.

I don't think people in this thread are being "too harsh" on the guy. Why soften the blow? He fucked up and didn't plan for tomorrow. He failed to read the writing on the wall.

Sympathy is still in the dictionary between shit 'n syphilis.

Reak AGV · 03-21-2009, 01:37 PM

That must hurt.

eroticsexxx · 03-21-2009, 07:50 PM

Quote:

Originally Posted by Jai

what a fuckn idiot,

why would you keep a house worth over 1 million dollars and not pay the mortgage for 2 years???

the day he cudnt pay his mortgage, he could of sold this house, and bought a 200K condo! and been perfect

instead he has 100K on creditcard debt and gets 500$ free from gov't a month for FOOD

fuckn loser idiots fuck up america and canada and deserve if the majority of the US and canada are like this, then north america deserves to lose all its jobs and become a 3rd world

Quote:

Originally Posted by SilentKnight

I can't generate any sympathy for this guy (or his wife) - although I feel sorry for his children.

"Sorry kids...your mother and I spent your future education and inheritance...living the lavish lifestyle."

This is typically what happens when you put all your eggs in one basket and don't plan for a rainy day. The moment they couldn't make their mortgage payment - the 'For Sale' sign should have gone on the front lawn. Instead - they buried themselves deeper in the financial hole to keep up the appearance of wealth and status to their friends, family and neighbours.

And now they've got a real dose of reality.

I don't think people in this thread are being "too harsh" on the guy. Why soften the blow? He fucked up and didn't plan for tomorrow. He failed to read the writing on the wall.

Sympathy is still in the dictionary between shit 'n syphilis.

Valid and rational reasoning.

His plans for the future might have appeared on the surface to be solid, but were absolutely shaky. Living on credit and defaulting on loans and mortgages is the worst financial strategy ever.

He was supposed to cut all extraneous expenses from the break, keep his credit intact and attain as many revenue generating assets as possible once he saw that his fund was going belly up.

The ability to generate revenue is priceless, credit status even more so as the ability to rebuild will sometimes depend upon it.

He is completely screwed as no bank will lend him a dime, nor will anyone want to hire him as he has exercised no semblance of financial intelligence.

His story also does not seem to add up as his education and contacts should have been able to get him in a sensible position in the meantime. He is not being forthright about something.

Rakie · 03-21-2009, 09:34 PM

Regardless of what happened, what kind of plan he had, how dumb he is or isn't.

God damn if I'm not impressed he's doing whatever he has to for his family... How many guys out there wouldn't find reason to get out of bed in the morning after something like that ?

Agent 488 · 03-21-2009, 09:44 PM

same story will happen to many "big players" in the adult webmaster biz. the easy money days are long gone.

Rochard · 03-21-2009, 10:13 PM

Quote:

Originally Posted by pornask

Ever seen who's the president of the USA right now?

Have you see who was the president for the past eight years?

Clearly this didn't all happen in the past three months.

Drake · 03-21-2009, 10:22 PM

There are many others like him who didn't make preparations for hard times. I gather from him saying he's lived well for 45+ years that he's always had money and has never known what it's like to not have it. Tough lessen to learn.

rowan · 03-21-2009, 11:38 PM

Quote:

Originally Posted by Jai

what a fuckn idiot,

why would you keep a house worth over 1 million dollars and not pay the mortgage for 2 years???

the day he cudnt pay his mortgage, he could of sold this house, and bought a 200K condo! and been perfect

How do you know the market value of the house is more than what they owe the bank?...

03-21-2009, 10:18 AM	#51
the Shemp congrats to the winners Industry Role: Join Date: Nov 2001 Location: Echo Beach Posts: 10,891	He was CEO of his own company...he made most of his money previously working for a company where he bought and sold stocks for institutional clients... so he left a great job to start up on his own and he failed... maybe he is not CEO material... __________________ i use Vacares...so should you Submit your picture galleries to my site...Outlaw TGP

03-21-2009, 12:32 PM	#52
sweetcuties Confirmed User Join Date: Feb 2002 Location: Somewhere Posts: 5,859	I saw the story last night on 20/20... What I don't understand is why didn't he pay off his house when he was rolling?? He topped out at 750k which will drop him down to 500k being in the 28% tax bracket. He should have paid off his mortgage or most of it... he had 500k to start his own hedge fund that didn't work and he hasn't made a mortgage payment in 2yrs, very sad story but a great 20/20 __________________

03-21-2009, 01:36 PM	#56
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	rich fucking pizza delivery fail __________________ BUY MY SIG - 50$/Year Contact here

03-21-2009, 01:37 PM	#58
Reak AGV Confirmed User Join Date: Dec 2004 Location: Unknown Posts: 4,283	That must hurt. __________________ Need Mainstream Content and SEO? SEO * Website Copy * Blogs Blogging - PR Work - Forum Marketing - Social Marketing - Link building - Articles 100% Guaranteed Content!

03-21-2009, 09:34 PM	#60
Rakie Confirmed User Join Date: Mar 2009 Location: Southern California. Posts: 147	Regardless of what happened, what kind of plan he had, how dumb he is or isn't. God damn if I'm not impressed he's doing whatever he has to for his family... How many guys out there wouldn't find reason to get out of bed in the morning after something like that ? __________________ Sound Engineer ~ Graduate of Musicians Institute in Hollywood, California.

03-21-2009, 12:51 PM	#55
RadicalSights So Fucking Banned Industry Role: Join Date: Mar 2009 Location: Europe Posts: 1,595	What a fucking loser.

03-21-2009, 01:37 PM	#57
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	I can't generate any sympathy for this guy (or his wife) - although I feel sorry for his children. "Sorry kids...your mother and I spent your future education and inheritance...living the lavish lifestyle." This is typically what happens when you put all your eggs in one basket and don't plan for a rainy day. The moment they couldn't make their mortgage payment - the 'For Sale' sign should have gone on the front lawn. Instead - they buried themselves deeper in the financial hole to keep up the appearance of wealth and status to their friends, family and neighbours. And now they've got a real dose of reality. I don't think people in this thread are being "too harsh" on the guy. Why soften the blow? He fucked up and didn't plan for tomorrow. He failed to read the writing on the wall. Sympathy is still in the dictionary between shit 'n syphilis.

03-21-2009, 09:44 PM	#61
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	same story will happen to many "big players" in the adult webmaster biz. the easy money days are long gone.

03-21-2009, 10:22 PM	#63
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	There are many others like him who didn't make preparations for hard times. I gather from him saying he's lived well for 45+ years that he's always had money and has never known what it's like to not have it. Tough lessen to learn.