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(GA Gov Candidate) Deal could face financial insolvency after backing family business
AJC ^ | September 15, 2010 | Alan Judd

Posted on 09/15/2010 5:27:16 AM PDT by Pan_Yan

In the midst of his campaign for governor, Nathan Deal faces such dire financial troubles that he must sell his home to avert foreclosure or bankruptcy.

Even if Deal liquidates all his assets, however, he still might be unable to repay a nearly $2.3 million business loan, documents reviewed by The Atlanta Journal-Constitution indicate. The loan comes due in full Feb. 1 — less than one month after Deal hopes to take office.

Deal’s troubles center on a failed business venture by his daughter and son-in-law. Deal and his wife, Sandra, invested about $2 million, but lost their entire stake when the business failed. The Deals also guaranteed a series of bank loans to the business as its debt doubled and then quadrupled.

Finally, the daughter and her husband declared bankruptcy, leaving the Deals solely responsible for an obligation that exceeds the net value of everything they own.

Officials with Deal’s campaign confirmed that the candidate is in a precarious financial position. They described the debt as a sensitive matter for Deal and his wife and their three grown daughters.

“There’s some financial sacrifice, and there’s some financial heartburn there,” said Chris Riley, Deal’s campaign manager.

In a statement late Tuesday, the campaign said: “Like most Americans, Nathan Deal has suffered financial losses over the last four years. He has obligations, and he will meet them.”

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


TOPICS: Business/Economy; News/Current Events; Politics/Elections; US: Georgia
KEYWORDS: cosign; deal; ga
Should have listened to Dave Ramsey.
1 posted on 09/15/2010 5:27:21 AM PDT by Pan_Yan
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To: Pan_Yan
So what?

When is the Establishment going to learn.

EVERYONE has bad times in their lives. Trying to make a political issue out of it, like they did with O’Donnel in Delaware, is going to backfire on the ones using these scum bag tactics.

Average citizens are tired of these slime bag political tactics. They want ideas and solutions not the same old politics of personal destruction tactics.

2 posted on 09/15/2010 5:31:04 AM PDT by MNJohnnie (The problem with Socialism is sooner or later you run out of other people's money. Lady Thatcher)
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To: Pan_Yan

It is totally asinine that we are at risk of losing the governorship because of a primary win achieved by employing homosexual scare tactics. Deal is corrupt and getting his head kicked in over it. Now we see why he needed to be corrupt. Karen Handel would’ve cleaned barnes clock and cleaned up the capitol. Thanks Boortz you horses ass!!!


3 posted on 09/15/2010 5:37:48 AM PDT by johncocktoasten (Practicing asymetrical thread warfare against anti-Palin Trolls)
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To: MNJohnnie

Sounds like someone who can relate to Americans hurt by 0bama’s economic catastrophe.
Certainly a lot better than the man and his party that’s been controlling Congress for 4 years that created it.


4 posted on 09/15/2010 5:38:25 AM PDT by counterpunch (Life in Prison: The RINO compromise to "Give Me Liberty or Give Me Death")
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To: MNJohnnie
" They want ideas and solutions not the same old politics of personal destruction tactics."

BS! If he can't handle his own finances, how can you expect him to do THIS job right?

His "ideas and solutions" for his own life haven't worked! This bozo has no business running a state.

5 posted on 09/15/2010 5:39:07 AM PDT by Slump Tester (What if I'm pregnant Teddy? Errr-ahh -Calm down Mary Jo, we'll cross that bridge when we come to it)
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To: MNJohnnie

So what? Making sound financial decisions is certainly a trait I look for in a public official. It comes down to risk management; losing it all is hardly a conservative outcome.


6 posted on 09/15/2010 5:42:49 AM PDT by WinMod70
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To: Pan_Yan

Geez, maybe Deal and his wife should do what alot of us commoners do when we get a little in over our heads - if we are eligible for overtime, then offer to put in extra hours. Or pick up part-time work.


7 posted on 09/15/2010 5:44:04 AM PDT by 3catsanadog (If healthcare reform is passed, 41 years old will be the new 65 YO.)
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To: Pan_Yan

Our governor’s race is truly a “who is the lesser scumbag” contest.


8 posted on 09/15/2010 5:45:33 AM PDT by davidlachnicht ("IF WE ARE ALL TO BE TARGETS, THEN WE ALL MUST BE SOLDIERS.")
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To: Slump Tester

Nonsense. In this economy, small businesses are failing left and right. At least in Deal, you’d have a guy who knows how to run one in the Governor’s mansion.

Nevertheless, it doesn’t matter what the Atlanta Urinal Constipation throws at Deal, he’s up by 11 over failed former governor Roy Barnes. This seat isn’t flipping to the RATS this cycle.


9 posted on 09/15/2010 5:48:14 AM PDT by NYRepublican72
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To: Slump Tester
Try actually reading the article before commenting. Your comments indicate you are completely clueless about the substance of this issue and are merely responding to the headline.
10 posted on 09/15/2010 5:48:36 AM PDT by MNJohnnie (The problem with Socialism is sooner or later you run out of other people's money. Lady Thatcher)
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To: WinMod70

Try actually reading the article before commenting. Your comments indicate you are completely clueless about the substance of this issue and are merely responding to the headline.


11 posted on 09/15/2010 5:49:32 AM PDT by MNJohnnie (The problem with Socialism is sooner or later you run out of other people's money. Lady Thatcher)
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To: Slump Tester

Boortz came out and openly endorsed Deal due to his disdain for Sarah Palin. For rural and suburban Pubbies, I don’t doubt that this played a huge role in Deal winning. What idiot personally guarantees business debt in excess of his net worth, in a business they don’t even own??

Additionally, deal was the rep who tried to resign his seat before the Obamacare vote, giving the dems one less vote needed to have it pass. After a tremendous uproar, Deal reversed himself.


12 posted on 09/15/2010 5:51:33 AM PDT by johncocktoasten (Practicing asymetrical thread warfare against anti-Palin Trolls)
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To: Slump Tester
BS! If he can't handle his own finances, how can you expect him to do THIS job right?

His “ideas and solutions” for his own life haven't worked! This bozo has no business running a state.


Sometimes it is luck and sometimes mgt. Not all deals go right all the time. He took his chances and lost. Family can blind you to reality, even for the most astute.

The key is how a man responds to such situations.

13 posted on 09/15/2010 5:55:23 AM PDT by PeterPrinciple ( Seeking the truth here folks.)
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To: Pan_Yan

No mention of his political party. Must be a ‘Rat.


14 posted on 09/15/2010 5:55:49 AM PDT by norwaypinesavage (Galileo: In science, the authority of a thousand is not worth the humble reasoning of one individual)
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To: Pan_Yan

What a mess. Loser daughter marries shiftless male. Neither one can find/keep a job. So “let’s start a bidness.” We’ll go first class all the way on daddy’s money and we’ll get rich.

Dumb daddy bites instead of saying Great idea, here’s a thousand dollars seed money, good luck.


15 posted on 09/15/2010 5:56:38 AM PDT by yldstrk (My heros have always been cowboys)
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To: norwaypinesavage

Nathan Deal is the republican candidate for Governor. He won a very close and, as you can tell from the comments, hotly contested primary runoff.


16 posted on 09/15/2010 6:10:54 AM PDT by Pan_Yan
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To: johncocktoasten
It is totally asinine that we are at risk of losing the governorship because of a primary win achieved by employing homosexual scare tactics.

Umm...

Are you for real? Snap back to reality.

17 posted on 09/15/2010 6:22:29 AM PDT by Crichton
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To: Pan_Yan

Above all we cannot let Roy Barnes back in the Governor’s mansion. He was a disaster last time around. Karen Handel would have been by far the better candidate. My fear is that the GA Grand Jury is going to return an indictment agains’t Deal before election day. That would really be a plus for his campaign. What a nightmare!!!


18 posted on 09/15/2010 6:30:34 AM PDT by Georgia Girl 2
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To: Crichton

Absolutely for real. Deal won by attacking Handel for writing a check to log cabin repubs.


19 posted on 09/15/2010 7:23:44 AM PDT by johncocktoasten (Practicing asymetrical thread warfare against anti-Palin Trolls)
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To: johncocktoasten
Absolutely for real. Deal won by attacking Handel for writing a check to log cabin repubs.

Okay.

And you don't agree that that's a legitimate campaign issues? Supporting the assault on marriage and traditional values?

20 posted on 09/15/2010 7:27:13 AM PDT by Crichton
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To: Crichton

The log cabin mission statement is a conservative manifesto with civil u ions attached. I don’t believe that gay marriage is recognizable in a biblical sense, but I do believe that if gays want to share the fruits of their own labors with their chosen partner, there should not be legal obstacles to that. Karen Handel wasn’t supporting gay marriage and it would never happen in GA anyway. Roy barnes on the other hand will return us to the period of the UN style state flag, unlimited pandering to teachers groups, and the institutionalization of Dekalb County government officials and trial lawyers population all areas of state government.


21 posted on 09/15/2010 7:53:10 AM PDT by johncocktoasten (Practicing asymetrical thread warfare against anti-Palin Trolls)
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To: Pan_Yan

Palin picked the best of the Republican candidates by endorsing Handel.


22 posted on 09/15/2010 8:25:46 AM PDT by Padams
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To: Pan_Yan

Palin picked the best of the Republican candidates by endorsing Handel.


23 posted on 09/15/2010 8:26:37 AM PDT by Padams
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To: Pan_Yan

Palin picked the best of the Republican candidates by endorsing Handel.


24 posted on 09/15/2010 8:26:37 AM PDT by Padams
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To: davidlachnicht

“Our governor’s race is truly a “who is the lesser scumbag” contest.”

Eric Johnson would have been the right man for the job. Too bad he didn’t have the name recognition.


25 posted on 09/15/2010 1:19:14 PM PDT by freeangel ( (free speech is only good until someone else doesn't like what you say))
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To: Pan_Yan
Deal needs to step down now. Please, Georgia GOP, do not let this man drag the Party down further than it has already gone. We need a new candidate that will restore integrity back into the state Party.

If Deal had come out with this before the election, we could have gotten Eric Johnson as our governor. His decision to remain in the dark about it means that we will probably get Roy Barnes instead.

26 posted on 09/16/2010 6:58:17 PM PDT by Hoodat (.For the weapons of our warfare are mighty in God for pulling down strongholds.)
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