Monday, August 13, 2007
News Ted, overextended?
Posted by Scott Freeman on Mon, Aug 13, 2007 at 5:26 PM
The September issue of Portfolio magazine reports that Ted Turner is behind on his payments to the United Nations. According to the Huffington Post, Turner promised to wipe out the $1 billion debt owed by the United States to the United Nations in $100 million increments.
According to the magazine, Turner gave $83 million the first two years of his pledge, then only $48.9 million last year. But he still pledges to contribute the full $1 billion by 2015.
Hey, give the guy a break: Much of his fortune was tied up in Time Warner/AOL stock. Remember how the companies lost $99 billion in 2002, the largest one-year loss ever in American business?
Show Ted your solidarity by buying a buffalo burger today.
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