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Posted on 11/08/2005 6:58:34 PM PST by blam
Oregon Foursome Claims $340M in Lottery
Wednesday November 9, 2005 2:46 AM
By BRAD CAIN
Associated Press Writer
SALEM, Ore. (AP) - A family that parlayed $40 worth of tickets into the second-biggest jackpot in U.S. lottery history came forward Tuesday to claim their $340 million prize.
``I'm still in disbelief that we won the big one,'' said Frances Chaney, 68, who went in on the Powerball ticket with her 72-year-old husband Bob, their daughter and daughter's husband.
The Powerball numbers were drawn on Oct. 19, but the four waited to claim their winnings at Oregon Lottery headquarters until they consulted with financial advisers, said the Chaneys' son-in-law, Steve West, 48.
Frances Chaney said she checked lottery numbers on the Internet on the night of the drawing, and was shocked to see they had the winning numbers.
``I checked about five or six other Internet sites, and said, 'There's something wrong here,''' she told reporters at a news conference.
She woke up her husband, and then called her daughter, Carolyn West, 47, to break the news. She said Steve West didn't believe it at first.
``My husband is a big joker and my son-in-law thought he had somehow dummied up a ticket,'' Frances Chaney said.
The four, who live in southern Oregon, said they haven't made major purchases yet, other than a Humvee bought by Bob Chaney, who ran a security company in California for 28 years before retiring.
``For the past year or so he's been wanting to get a yellow Hummer. Needless to say, there's one in our driveway now,'' said Frances Chaney.
Steve West, a landscaper, said he plans to continue working ``to keep my body a little more active'' but probably will cut back on his hours.
Frances Chaney said the four decided they will take the money in an after-tax lump sum of $110 million, rather than 30 annual installments of about $7.6 million.
The biggest lottery jackpot in U.S. history was $363 million, won by two ticket holders in Illinois and Michigan in 2000. Powerball is played in 27 states.
good for them!
I never whine about another's good fortune.
Its unmanly.
It must be "All Chaney's fault!"
So he ran right out and got himself a Hummer.
A hummer is probably a good thing.
Most financial planners recommend blowing about 10% on luxuries, getting it out of their system. Then the remaining invested for income.
Ditto, wishing them only the best.
The government was the big winner with a $230M take-home. (taxes)
Oregon Ping
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It isn't really 230M in taxes. Some of it is taxes, some of it is lump-sum reduction.
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