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This is bound to end well.

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
30,598
5,859
Riding the baggage carousel.

JEFFERSON CITY, Mo. — A 29-year-old Missouri convenience store clerk has stepped forward as the winner of the $258.5 million Powerball jackpot.

Chris Shaw was introduced at Missouri Lottery headquarters Thursday as the winner of the Powerball jackpot in Wednesday night's drawing.

Shaw bought the winning ticket Wednesday at the Break Time store where he works in the central Missouri town of Marshall.

Lottery officials say Shaw will have to choose between a one-time cash lump sum of nearly $125 million, or a 29-year, 30-installment annuity.

Break Time will receive $50,000 for selling the winning ticket. If Shaw chooses to take the lump sum amount, the state will receive $6 million in state income taxes.

http://www.huffingtonpost.com/2010/04/22/chris-shaw-wins-powerball_n_548791.html
Now he can finally buy that 83 Iroc-z he's always wanted. I got 5 bucks says this guy dies in a dynamite/powerboat incident. :facepalm:
 

fro biker

Monkey
Oct 18, 2006
162
0
in the sticks
moar methhhhh

this is what i thought of when i read the above article. best part is ~last 30 sec.
"she wants a lexus, and imma get a fourwheeldrive truck"..."no, i want a mercedes."
sweeet. way to really go out on a limb.
 

X3pilot

Texans fan - LOL
Aug 13, 2007
5,861
1
SoMD
Bought his ticket along with his cigs and "sowdee".

Any bets it was a Mt.Dew??


With all that money, his family tree will have some sudden branches, instead of looking like a telephone pole.
 

moff_quigley

Why don't you have a seat over there?
Jan 27, 2005
4,403
2
Poseurville
I've been to Marshall, MO. Not a whole heck of a lot going on up there. I predict he upgrades from a single to a double and is dead in an English dentist's chair in 5.
 

binary visions

The voice of reason
Jun 13, 2002
21,712
525
NC
There is no goddamn justice.

None.

:rant:

(incidentally, I was curious... if you invested the $125 million at a paltry 3% APR, in 29 years you'd have $300 million. The annuity is such a scam.)
 

ohio

The Fresno Kid
Nov 26, 2001
6,638
4
SF, CA
There is no goddamn justice.

None.

:rant:

(incidentally, I was curious... if you invested the $125 million at a paltry 3% APR, in 29 years you'd have $300 million. The annuity is such a scam.)
Factor in taxes and I think it gets a little more reasonable. It's much easier to bury $10M each year and avoid a 50% penalty on every dollar of income than it is to try to bury $125M once.
 

binary visions

The voice of reason
Jun 13, 2002
21,712
525
NC
Factor in taxes and I think it gets a little more reasonable. It's much easier to bury $10M each year and avoid a 50% penalty on every dollar of income than it is to try to bury $125M once.
My point is more that there's a fairly enormous profit margin on the lottery doling the money out over time.

Also, even if they took half of it up front in taxes, that lump sum @ 5% would still net you more over 30 years than the total jackpot was worth.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
30,598
5,859
Riding the baggage carousel.
Personally, given the current economic situation I'd take the lump sum even if it were in fact the worse of the two deals. I wouldn't want to be worrying 5-10 years down the road if I was actually going to get my annual check. Give it to me now, I'll put it someplace safe.
 

alant

Chimp
Oct 11, 2008
20
0
Personally, given the current economic situation I'd take the lump sum even if it were in fact the worse of the two deals. I wouldn't want to be worrying 5-10 years down the road if I was actually going to get my annual check. Give it to me now, I'll put it someplace safe.
Exactly! I'll take MY money and decide when, where and what to do with it! :thumb:
 

reflux

Turbo Monkey
Mar 18, 2002
4,622
2
G14 Classified
American Hookers and Columbian blow, duh.
Why settle for anything less than the best when you can make it rain morning, noon, and night?


Personally, I couldn't be happier for the guy. Chances are he'll be dead broke within 10 years, but it's going to be one hell of a roller coaster adventure in the meantime.
 

ohio

The Fresno Kid
Nov 26, 2001
6,638
4
SF, CA
Yes, there go those damn coastal liberals with all of their "education" again. I'll bet they even have all of their teeth. :rolleyes:
For all their talk of bringing opportunity to the underprivileged and being champions of the poor and not blaming the victim for lack of access to good education or positive social norms, they are real ****ing quick to laugh their asses of at the expense of a guy who seems to be holding down a job and a relationship but doesn't look like what they want poor people to look like. I hate to conjure up $tinkle, but would you see the same comments if this guy was a toothless, uneducated black man?

I've got no love for ignorant, entitled, racist rednecks, but nothing in the article indicates that he's any of those things. Plenty in the comments indicates that bleeding hearts are elitist douchebags that wouldn't piss on an ACTUAL poor man if he was on fire.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
30,598
5,859
Riding the baggage carousel.
I see your point but clearly this is a man not used to making good decisions.
A central Missouri convenience store clerk with $28.96 in his bank account and a stack of utility bills to pay....plans to use the winnings to pay off the $1,000 he owes a friend for a truck he recently bought, catch up on his utility bills, see a dentist about getting his two missing front teeth replaced, and take his three children and his girlfriend's two childrento Disney world...$5 ticket...Shaw had been working at the convenience store for just three weeks when he decided to buy the Powerball ticket, cigarettes and a soda at the end of his shift Wednesday.
So the guys got 28 bucks to his name, 3 kids, is behind on bills and has been working at the quickie mart for 3 weeks when he makes the decision to buy smokes, soda and a 5 dollar lotto ticket. I mean good on the guy for getting lucky, and I wish him all the best, but you and I both know this is a train wreck in progress. And you don't need to be an "intellectual elitist" to see it either.
 

kidwoo

Celebrating No-Pants Day
Aug 25, 2003
24,358
3,384
In my pants
Sheeeeiiiiittt


Sounds like a wise investor to me.


Somebody got rich who could kind of use it without stealing it or being deceptive. Big deal.

Just think of all the jobs he'll save spending that money. I'm so far beyond being an elitist because I KNOW I'm smarter than most people and this doesn't bother me one bit.
 

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
30,990
4,163
Portland, OR
I see your point but clearly this is a man not used to making good decisions.
Yes, because putting that $5 in the Quicky Mart matching 401k would have paid out HUGE in 30 years when he s ready to retire as the assistant manager in charge of the Icee machine.
 

ire

Turbo Monkey
Aug 6, 2007
6,199
4
When I saw this on the news the first thing I thought of was that E! show where they examined all the dead and broke jackpot winners....if you can't manage your money/life before the money, you won't be able to after. It will simply magnify any problems he was having.
 

kidwoo

Celebrating No-Pants Day
Aug 25, 2003
24,358
3,384
In my pants
When I saw this on the news the first thing I thought of was that E! show where they examined all the dead and broke jackpot winners....if you can't manage your money/life before the money, you won't be able to after. It will simply magnify any problems he was having.
I haven't had television service for years.......what show is that? I actually kind of want to see and episode or two. :D