Tag Archives: finance

What went wrong with Vince Young

Excellent column on Fox Sports by Jen Floyd Engel on what happened to Vince Young

A 20-year-old model embarking on an NFL career is doomed to fail if he does not have the right people around him. Family is not the right people, no matter how good or loving or well-intentioned they are.

I should note I liked his mom almost immediately as we sat down for dinner my first night in town. She is one of those parents who had poured everything she had into her kid. It is hindsight to say so now, but there were red flags, mostly the use of “we.”

What was obvious, even before his senior year of college, was that “we” were all going to be working for the NFL.

It is why I hate the Hall of Fame speeches, most recently that of Deion Sanders. I cringed at the part about him making it and how his mom never had to work again — like there is something wrong with work. This is the trap, and there is nobody willing to talk about the trap or why it is a trap or why it is screwed up.

It is like they say on airplanes: Secure your own mask before helping those around you. VY’s biggest failing was not securing that $26 million in guaranteed money before helping anybody else.

Yes, we are talking about $26 million in guaranteed money.

I once asked former NFL coach Bill Parcells what his advice to players was regarding money. He was always meddling in their business, calling them into his office and giving advice too few listened to. What he told them was to bank that signing bonus for a year, live on only one game check, then after a year live on the interest from the bonus.

He said few players listened.

This is the kicker

This sad state of Vince Young, broke and unable to pay the bills, begs the question: How could he be so stupid? The sad and simple answer is this is what too often happens when a 20-year-old is forced to become the family patriarch.

I was never a Vince Young fan.  I thought he was a kind of Kordell Stewart and like Tim Tebow they can have some success in the league but it doesn’t last that long but no one seemed to be able to realize that, most of all, Young and his family who seemed to think that the good times would keep on rolling and rolling.  What I find unbelievable is that Young despite being a backup QB, seemed to think that the money would either never stop or he just couldn’t say no to his mother and uncle.  Either way, what a horrible feeling know what you blew $48 million.

Poverty now includes a color TV

From Christian Science Monitor

Wealth remains highly stratified. For example, the wealthiest 10% of Americans had 2.4 cars per “consumer unit” (essentially a household or an individual living on his or her own) in 2002, the most recent year in the Census study. That’s down slightly from 1992, when they had 2.5 cars per household. The bottom 10% of the income ladder averaged just 0.6 cars per household in 2002, the same as 1992.
Still, by almost all measures, the data show rising well-being for all of society. And while the wealth gap may not be narrowing, the rich-poor gap in lifestyles has narrowed substantially since 1992 when measured in many of these tangible items.
“In terms of the items people have … it amazes me the number of people who are at or near the poverty line that have color TVs, cable, washer, dryer, microwave,” says Michael Cosgrove, an economist at the University of Dallas in Irving, Texas. That’s not to ignore the hardships of poverty, he adds, “but the conveniences they have are in fact pretty good.”

While consumer electronics have dropped drastically in price, housing has gone up in price. People can afford the luxuries but not the necessities.

FaithWorld buys embattled pastor $500,000 house

O’Mara said the church’s Dec. 16 purchase of the four-bedroom, three-bath house for Brown on Park Springs Circle “was obviously a vote of confidence. More significantly, it was the appropriate fiscal decision for the church to own a piece of property rather than pay rent on one.”

He said the congregation also made “substantial improvements” on the property.

The church also is paying $7,000 monthly mortgage payments on a $1.4 million home in Alaqua Lakes, a gated Longwood community where Brown lived with his wife, Angela, until February 2003, when they separated.

O’Mara said the church is studying whether it is proper to make payments on two residences for their pastor. Also under examination are credit-card charges by Clint and Angela Brown that were paid by the church.

Neither the Browns nor their attorneys could be reached for comment Monday.

Angela Brown’s divorce filing provides a listing of the couple’s assets, including three Mercedes-Benzes, a Porsche Carrera, a Hummer, a Ford F-150 pickup, a Volkswagen Beetle and two Harley-Davidson motorcycles. Several of the couple’s vehicles were paid for by the congregation.

The court documents also shed light on the couple’s spending.

On a visit to Diamond Quasar Jewels of New York in August 2002, Clint Brown spent $8,800. Other purchases were recorded at tony shops and spas in Bal Harbour; Scottsdale, Ariz.; Las Vegas; and Beverly Hills, Calif. Angela Brown spent more than $1,000 at Victoria’s Secret and nearly $10,000 for shoes at a Dallas store.

Using his wife’s Platinum American Express card, Clint Brown spent $85 at a San Diego Hooters on Jan. 24, 2003, according to court documents. Tattoos and tanning-salon sessions also were charged, along with nearly $1,000 in wine from a Heathrow shop.

In the divorce suit, Angela Brown also said that in one year, her husband charged more than $70,000 in women’s clothes on an American Express card and that neither she nor her daughter received any of the clothing.

I am just going to leave the comments open for your feedback. I know it isn’t the norm but it does happen in a lot of different churches across North America. It just seems to me to so outside the norm for what a pastor is called to be. Maybe I am missing something but this does sadden me quite a bit.

Other links relating to his divorce: