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Unpaid bills mount for top Chrysler executive (Jim Press, formerly of Toyota)

Discussion in 'Fred's House of Pancakes' started by cwerdna, Sep 19, 2009.

  1. cwerdna

    cwerdna Senior Member

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    #1 cwerdna, Sep 19, 2009
  2. cwerdna

    cwerdna Senior Member

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    #2 cwerdna, Oct 2, 2009
  3. TonyPSchaefer

    TonyPSchaefer Your Friendly Moderator
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    I guess it's the same story of spending more than you can afford. Just on a much higher scale than most of us can fathom.

    It's easy to criticize him for owning four houses but when put into earning potential, perhaps it's no different than an average person buying cars they can't afford, a house that's too big, leveraging too much into debt, and then having their wages slashed.

    Just goes to show that it can happen to just about anyone.
     
    #3 TonyPSchaefer, Oct 2, 2009
  4. SageBrush

    SageBrush Senior Member

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    I was most impressed by the story of Press using his influence with dealers to push more inventory onto their lots, then cut off their franchises. I wonder if he can get another job after Fiat fires him.

    If his NY mortgage is anywhere near market interest rates, then yeah, I'd say he has a "cash flow" problem.
     
    #4 SageBrush, Oct 2, 2009
  5. daniel

    daniel Cat Lovers Against the Bomb

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    The guy makes a gazillion dollars, but still cannot live within his means! He'd probably have no problems at all if he'd bought nine million dollars of real estate for cash, instead of the eighteen million dollars worth he bought on credit. I've got no sympathy at all for someone that rich who still goes into debt because he's not satisfied with what he can actually afford!
     
    #5 daniel, Oct 2, 2009
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