October 29, 2009 – 9:51 am
Former NBA star Antoine Walker is the latest athlete to serve as a sad reminder of the importance of fiscal discipline. The Boston Globe recently reported that Walker, a 6’9” small forward who made at least $110 million over his 12 years in the NBA, owes more than $4 million to creditors. This comes after a [...]
October 27, 2009 – 10:15 am
The clothing company H&M has made a name for itself providing high-fashion clothing at prices that most people can afford. (BTW – I am not paid by H&M; this is what my wife has told me.)
On occasion, H&M enlists the services of an otherwise exclusive designer, to produce a line specifically for the store. The [...]
October 15, 2009 – 1:35 pm
This week in famous financial flubs, 19-year-old rapper Soulja Boy has been accused of being the tenant from hell. A letter from his landlord stated:
We have received complaints of noise disturbances and guests wandering the hallway and Observation Deck. This is a direct violation of your Lease Agreement…Additionally, we were notified that you had over [...]
October 9, 2009 – 4:13 pm
It wasn’t too long ago that Nicolas Cage, the National Treasure star, put a few of his houses up for sale in efforts to pay back some of the $6.3 million he owed the government in unpaid back taxes.
But as his homes sit unsold, the IRS filed another tax lien on the actor whose government tab [...]
September 28, 2009 – 5:04 pm
Pamela Anderson has been famous for her, well, physical assets for decades, but it turns out she isn’t as well endowed in the financial department.
According to People magazine, Los Angeles County records show she owes more than $1.1 million to creditors:
According to the documents, five different construction companies have filed liens against her home, the [...]
We try to keep things classy here at Econ4U. But when gossip and finance cross paths, it’s hard for us not to indulge.
Today’s edition of When Celebrities Mismanage Their Finances – or, excuse me, When “Celebrities” Mismanage Their Finances – centers on Nadya “Octomom” Suleman.
Suleman – mother of 14 children, including the world’s only set of octuplets – recently [...]
Pro athletes often seem uniquely poised for epic declarations of bankruptcy, but baseball legend Lenny Dykstra is giving other sports figures a run for their money (so to speak).
Former Mets and Phillies slugger Dykstra filed for bankruptcy last week with reported assets totaling $50,000, despite claiming in April that he was worth $60 million.
According to the [...]
Wall Street Journal columnist James Stewart has a great piece this week, about how fleeting good fortune can be, and how important it is to manage your money responsibly. I really recommend reading the whole thing, but here’s a few highlights (emphasis added):
Our culture often glorifies financial success, but it is an illusion to think [...]
Michael Jackson’s will was filed today in the Los Angeles Superior Court, and the settlement of his estate is sure to generate plenty of media coverage. His fortune and his debts both total roughly $500 million, according to the New York Times, so there’s a lot of money at stake.
While most of us will never [...]
Australia is reporting a surge in bankruptcies among young women eager to live the celebrity lifestyle:
The Daily Mail reports that a survey found women were ‘far more likely’ to spend irresponsibly than men as they try to emulate celebrities such as Victoria Beckham and Paris Hilton.
Last year 55 per cent of young bankrupts were female, [...]
