BS: Rich hurting, too

Subject: BS: Rich hurting, too
From: GUEST,beardedbruce
Date: 14 Dec 08 - 02:39 PM

Note he only started with $1 million- a self-made man!





Prince Alwaleed Loses 19% of Wealth on Global Slump (Update2)

By Shaji Mathew

Dec. 14 (Bloomberg) -- Prince Alwaleed bin Talal, Citigroup Inc.'s largest individual investor, lost 19 percent of his personal wealth in the past year as the global economic slump reduced the value of banking and property assets, according to Arabian Business.

The Saudi billionaire was ranked the wealthiest Arab with assets worth $17.08 billion as of Dec. 2, the 2008 Rich List, published on the Dubai-based magazine's Web site today said. That compares with $21 billion a year ago, the magazine reported, citing Alwaleed's private financial accounts.

"Everyone has been guessing for 20 years" about the assets, Alwaleed was quoted by Arabian Business as saying. "I want you to get it right -- to get it absolutely right."

.....
Making Money

Alwaleed, a nephew of the late King Fahd bin Abdulaziz al-Saud, stands out among more than 2,000 Saudi princes because he's made money. After earning a bachelor's degree from Menlo College near San Francisco, he returned to the Persian Gulf and parlayed an inheritance of less than $1 million into a billion- dollar fortune in the 1980s, mostly through real-estate investments, according to Riz Khan's biography "Alwaleed: Businessman, Billionaire, Prince" (William Morrow, 2005.)

The Prince, 53, built his fortune by investing in brand-name companies he considered undervalued, including Apple Inc., News Corp. and Time Warner Inc. Forbes magazine estimated he was worth $21 billion in March, ranking him 19th among the world's billionaires.

Alwaleed was lauded by Time magazine as the Middle East's answer to Warren Buffett, the Sage of Omaha, after his 1991 investment in Citicorp, Citigroup Inc.'s predecessor, helped make the Saudi billionaire one of the world's five richest people.

....

http://www.bloomberg.com/apps/news?pid=20601087&sid=ag6ZKRzI1vvw&refer=worldwide

Subject: RE: BS: Rich hurting, too
From: kendall
Date: 14 Dec 08 - 03:00 PM

Aw, poor guy. Imagine trying to scrape by on a paltry billion dollars! I should be that poor.

Subject: RE: BS: Rich hurting, too
From: Alice
Date: 14 Dec 08 - 03:15 PM

And then there is the kind of rich person who recently passed away here...

Frugal woman left $2.8 million
1st batch of checks given to 11 nonprofit groups equals $2.3M
Blanche Vavra was a frugal, private woman.

Her friends say she never spent a penny on anything but the absolute bare necessities. She had no children, was never married and lived a quiet life.

But eight months after her death, at the age of 90, with her generosity Vavra has affected the lives of thousands of people she never even met.

On Monday and Tuesday, representatives from First Interstate Bank and Moulton Bellingham presented 11 local nonprofit groups with checks totaling $2.3 million from a trust that Vavra had been, in one way or another, working on for most of her life.

Click here for the rest of the story...

Subject: RE: BS: Rich hurting, too
From: Alice
Date: 14 Dec 08 - 03:16 PM

...She eventually landed a job with the U.S. Civil Service and worked for the U.S. government for 32 years, all the while saving money and supporting her mother. John Jones, an attorney with Moulton Bellingham who worked on Vavra's trust, said her job and pay was comparable to that of a mid-level manager.

Subject: RE: BS: Rich hurting, too
From: GUEST,beardedbruce
Date: 14 Dec 08 - 03:22 PM

Kendall,

"17.08 billion as of Dec. 2,", down from 21 billion.

Subject: RE: BS: Rich hurting, too
From: Ebbie
Date: 14 Dec 08 - 04:09 PM

I agree - poor guy. He is probably down to one meal a day. He would be in good company.

I work among - and serve food to - high school teenagers who frequently have not eaten since noon of the previous day.

Subject: RE: BS: Rich hurting, too
From: Rapparee
Date: 14 Dec 08 - 05:20 PM

Think we could get him to endow Idaho's foodbank with a paltry 10 or 15 million? Even the middle class (in Boise) are starting to come for help....

Subject: RE: BS: Rich hurting, too
From: Bobert
Date: 14 Dec 08 - 05:36 PM

Ya' know what, bb... This thread just might be yer lowest point here in Mudville that I have ever witnessed... I guess you really don't have a clue, do you... This is eqivalent to Marie-Antomwtte's "Let them eat cake"...

Shame on you, bruce... Go do some community work and find out what the real world is like...

B~

Subject: RE: BS: Rich hurting, too
From: Rapparee
Date: 14 Dec 08 - 06:09 PM

Bobert, I kinda think this is tongue in cheek...

Subject: RE: BS: Rich hurting, too
From: kendall
Date: 14 Dec 08 - 06:10 PM

You were kidding, right Bruce?

Subject: RE: BS: Rich hurting, too
From: Bobert
Date: 14 Dec 08 - 06:20 PM

I don't think he is kiddin' one bit??? His popst on the Auto Bailout thread are equally repugnant... Plus he ahs a history of defending Boss Hog... I know that it seems to be some kinda himor on bb's part but over the years I have not founf any humor in him at all... What you see is what you get... He believes this stuff... He believes that rich people pay too much tax... It's the way he is... Ask me how I know???

B~

Subject: RE: BS: Rich hurting, too
From: Little Hawk
Date: 14 Dec 08 - 06:38 PM

Chimps are hurting too. Chongo has had to cut back to only 7 cigars a day.

Subject: RE: BS: Rich hurting, too
From: michaelr
Date: 14 Dec 08 - 06:38 PM

How do you know?

Subject: RE: BS: Rich hurting, too
From: Little Hawk
Date: 14 Dec 08 - 07:25 PM

Why would I not know?

Subject: RE: BS: Rich hurting, too
From: Bobert
Date: 14 Dec 08 - 07:36 PM

I know from doing battle with him for, ahhhhh, at least 5 years now over political stuff... He is what hs is... This is the real bb...

Subject: RE: BS: Rich hurting, too
From: olddude
Date: 14 Dec 08 - 09:58 PM

I wish I were rich, so I could hurt like that. Heck if I had 20 million and lost 10 ... I think I would handle the hurt ok. Maybe even give up my private jet and have to fly coach

When we talk about someone making 10 dollars and hour and then gets laid off well that it hurting and I know a bunch of them

Subject: RE: BS: Rich hurting, too
From: kendall
Date: 14 Dec 08 - 11:11 PM

Look, it's the natural order of things. The big fish eat the small ones and the rich have always screwed the poor. How do you think they got rich?

Subject: RE: BS: Rich hurting, too
From: olddude
Date: 14 Dec 08 - 11:23 PM

Probably why I was never rich nor ever will be
I would give it all away anyway.

Subject: RE: BS: Rich hurting, too
From: GUEST,beardedbruce
Date: 15 Dec 08 - 04:46 PM

Bobert has a problem with both sarcasm and dealing with facts.


Kendall, he did have 17+ billion after his losses.


All- Bobert is still blaming Republicans for the fact that 8 democrats did not vote for what he thinks ios a solution to the auto company problem. By pointing this out, I seem to have made him decide that anything I say is wrong.


I guess he has to judge others by how he would act, after all.

Subject: RE: BS: Rich hurting, too
From: Ebbie
Date: 15 Dec 08 - 04:59 PM

Perhaps, bb, Bobert is not used to having *you* castigate the Republican side.

I know that I am not.

Subject: RE: BS: Rich hurting, too
From: Bobert
Date: 15 Dec 08 - 05:00 PM

It ain't that they didn't vote to loan two of the BIg Three the dough, bb, but why they didn't... I didn't hear stuff like "fiscal responsibility" or how the loans would increase our "federal deficit".. What these Senators did was use the loan as an opportunity to bash unions... That, to me, showed no class and amounted to nuthin' more than yet more "red meat" for their Southern, under-educated and redneck base...

B~

Subject: RE: BS: Rich hurting, too
From: Bobert
Date: 15 Dec 08 - 05:19 PM

Actually, Eb, bb has moved beyond Bush because Bush is now lame duck and bb is plugged into whatever policy positions that the Repubs who will be in Congress after Jan 20th... I really don't think that it matter what these Repubs positions are for bb... Heck, he was like John McCain for the last several years in siding with Bush and now it's time to move on and side with the Senate Repubs... It is a team sport for him,, you know...

B~

Subject: RE: BS: Rich hurting, too
From: GUEST,beardedbruce
Date: 15 Dec 08 - 06:27 PM

No, now that Bobert is a self-defined Bushite I have to assume that Bush is wrong in all things, to keep the world on an even keel.

Subject: RE: BS: Rich hurting, too
From: Bobert
Date: 15 Dec 08 - 06:35 PM

That post was downright funny, bruce... I mean, I got a good laugh outta it... Me, a Bushite??? Hahahahahaha... I love it...

B~

Subject: RE: BS: Rich hurting, too
From: Little Hawk
Date: 15 Dec 08 - 08:51 PM

Bush is not wrong in all things. He knows how to dodge a thrown shoe. His baseball instincts and reflexes are still good.

Subject: RE: BS: Rich hurting, too
From: kendall
Date: 16 Dec 08 - 08:15 AM

That and his IQ qualify him to be a bat boy.

Subject: RE: BS: Rich hurting, too
From: heric
Date: 21 Dec 08 - 04:05 PM

Mauri found a buyer who offered him $6 million, $2 million less than the assessed value, he said. The sale was supposed to close in November. When the club filed for bankruptcy, the buyer walked.

"We used our kid's college fund for that [$250,000 club] membership," his wife Michele said, fighting back tears in U.S. Bankruptcy Court in Butte on Nov. 25. Their son, 17, is scheduled to start school in the fall.

"Now the money's gone," she said.

http://www.bloomberg.com/apps/news?pid=20601109&sid=atagRRfWXRds&refer=home