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SD MAN IN FINANCIAL PERIL WINS $232.1M POWERBALL
ASSOCIATED PRESS ^ | June 5, 2009

Posted on 06/05/2009 1:55:15 PM PDT by ConservativeStatement

PIERRE, S.D. -- A 23-year-old rancher whose family has fallen behind in their taxes and recently had a mobile home repossessed has claimed a $232.1 million Powerball jackpot on Friday, one of the largest undivided jackpots in U.S. lottery history.

(Excerpt) Read more at nypost.com ...


TOPICS: Culture/Society
KEYWORDS: lottery; powerball; rancher; southdakota
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To: Carley
Good luck. Enjoy the stress free life and have fun.

Trying to manage a windfall like that will be anything but stress free. He's gonna be in for a helluva ride!

41 posted on 06/05/2009 2:18:51 PM PDT by Drew68
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To: DManA
The lump sum value is called the “present value of a stream of cash flows.” $232 million over 20 years gets discounted due to inflation reducing the value of future payouts (although lotteries use a much higher discount rate than inflation, I don't know what it is). Especially given the likelihood of hyperinflation before long, taking the lump sum payout is very smart...

hh

42 posted on 06/05/2009 2:18:54 PM PDT by hoosier hick ((I'm back to..) Note to RINOs: We need a choice, not an echo. (Barry Goldwater))
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My neighbors know the Wanless family. They are from near Winner. Said they are a really good, hard-working, CONSERVATIVE bunch. I’m very happy for Neal and his family. It’s pretty cool to finally have a winner from Winner, SD.

I have a 22 year-old, beautiful, blue-eyed, blonde, granddaughter.......who just happens to know how to ear-tag and castrate a calf......hmmmmmm...........


43 posted on 06/05/2009 2:20:53 PM PDT by Rushmore Rocks
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To: MassRepublicanFlyersFan

I know a college professor who has done a study of young lottery winners. If Wanless’s experience is typical he will now have trouble fitting with his peers and may have to relocate just to get away from those hounding him. However if he has good South Dakota values he will do just fine. I would wish him luck, but that would be redundant.


44 posted on 06/05/2009 2:23:15 PM PDT by The Great RJ ("The problem with socialism is that you eventually run out of other people's money." M. Thatcher)
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To: MassRepublicanFlyersFan

I am glad he won that one and not me! Where in the world would you put $88 million dollars right now? The banks are out, you can’t keep or carry cash anymore without the fear of it being confiscated, and a million dollars worth of Rolexes in the safe doesn’t make a dent. Does anyone else lose sleep over things like this?:>)


45 posted on 06/05/2009 2:25:14 PM PDT by Big_Harry ( Thank God I am an "Infidel"!)
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To: hoosier hick

If I won the lottery I would not publish my name. I would form a LLC and have the co.claim the money...I would hope I could keep it quiet.
Oh to dream !!!!


46 posted on 06/05/2009 2:25:27 PM PDT by estrogen (time to fight)
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To: BP2
hires an attorney to tell all of his friends and family he will NOT loan them a dime

In almost all the acounts of lottery winning "rags to riches to rags" stories I've read, the winner's extended family is the main reason for the downfall.

47 posted on 06/05/2009 2:25:50 PM PDT by Drew68
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To: MassRepublicanFlyersFan

He and his family were having financial problems but he still bought lottery tickets. He deserves to be sued by us taxpayers to recoup any money that he received through government entitlement programs. I have no sympathy for people with money problems that waste money on lottery tickets, cigarettes, beer, etc.


48 posted on 06/05/2009 2:26:10 PM PDT by DFG
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To: DFG

Oh for God’s sake LIGHTEN UP


49 posted on 06/05/2009 2:27:13 PM PDT by estrogen (time to fight)
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To: DainBramage

“Take home only 80 million. Why does the government get morn than him?”

Actually, you lose approxiamtely 45% if you want the money now in lieu of an annuity over twenty years. You lose another ~40% to federal, state, local, municiple taxes.

If it is a big ranch, he will be able to continue ranching for 20 years or so.


50 posted on 06/05/2009 2:27:26 PM PDT by dirtymac (Now is the time for all good men to come to the aid of their country. Calling all Son's of Liberty)
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To: MassRepublicanFlyersFan

Reminds me of the farmer who won the lottery. Asked what he’d do with the money he said “I figured I’d keep on farming til’ the money ran out.”


51 posted on 06/05/2009 2:33:08 PM PDT by MarineBrat (The New York Times is a Communist Kamikaze.)
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To: Gaffer
So help me if he says “ I’m gonna keep my job” I’m gonna puke.

My cousin's daughter won 5 million and lottery officials advised her to quit her job because of possible jealousy in the workplace. She did quit, took about a year off then went right back to work.

52 posted on 06/05/2009 2:33:11 PM PDT by DejaJude
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To: TChris
"It will be gone inside of 3 years. Mark my words."

When bad things start raining down in our lives, the typical human reaction is for us to get on our knees and beg GOD not to give us more than we can handle. Wise people will approach a flood of good fortune and blessings in a similar manner.

53 posted on 06/05/2009 2:34:57 PM PDT by Joe 6-pack (Que me amat, amet et canem meum)
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To: Rushmore Rocks

“know how to ear-tag and castrate a calf”

I was getting intersted until you got to that part..


54 posted on 06/05/2009 2:35:48 PM PDT by dirtymac (Now is the time for all good men to come to the aid of their country. Calling all Son's of Liberty)
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To: longhorn too
He is about to have a bunch of new best friends.

And a bunch of 'long lost' relatives, he never knew he had.

55 posted on 06/05/2009 2:35:56 PM PDT by NRA2BFree
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To: DFG
He and his family were having financial problems but he still bought lottery tickets. He deserves to be sued by us taxpayers to recoup any money that he received through government entitlement programs. I have no sympathy for people with money problems that waste money on lottery tickets, cigarettes, beer, etc.

I bet you're a lot of fun to be around

56 posted on 06/05/2009 2:36:56 PM PDT by tx_eggman (Clinton was our first black President ... Obama is our first French President.)
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To: DFG

LOL, You should try the decaf.


57 posted on 06/05/2009 2:38:44 PM PDT by 1035rep
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To: DManA
"They advertise he won $200 million and give him $80. It fraud pure and simple".

I don't think it's fraud, but I am not a lawyer. I used to be a salesman, and I certainly think it's salemanship. No offense to those in the trade, excepting car dealers.

58 posted on 06/05/2009 2:39:18 PM PDT by neocon1984
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To: InvisibleChurch
I believe it.

I seldom buy lottery tickets, but I always figured that if I won big $$$ it would be worth big $$ to find a way to collect the money anonymously through a front.

59 posted on 06/05/2009 2:40:41 PM PDT by El Sordo
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To: DFG
DFG, did you read the article?

Wanless said he intends to use the money to help those in need. "My family has been helped by the community and I intend to repay that help many times over."

60 posted on 06/05/2009 2:42:46 PM PDT by DejaJude
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