3 Asset Managers Win $254 Million Powerball Lottery..Hey OWS, whaddya say?

Well, ain't that a kick in the teeth! Three guys from Connecticut who work as asset managers, won the Powerball lottery on Saturday. They hit it using the lazy man's way -- using a quick pick -- and by spending the grand sum of one dollar American.

Now, asset managers work around and for the haves of our society. In other words, the 1%. No one would accuse their playground as being second class. So I would imagine that the OWS crowd is mumbling in their beer right about now.

Hey OWS - maybe karma is trying to tell you something.

The lottery is full of rags-to-riches tales. Now the 1 percent has its own feel-good story.

Timothy C. Davidson, Brandon E. Lacoff and Gregory H. Skidmore, three executives at Belpointe Asset Management, an investment firm based in Greenwich, Conn., have won $254.2 million in the Powerball game, the largest jackpot in the state’s history.

“The lottery is all about dreaming, and that runs across all demographics and all people,” said Anne Noble, the Connecticut Lottery’s chief executive.

The three men made — or rather, multiplied — their fortunes with a single $1 ticket purchased at a gas station in neighboring Stamford, a Connecticut Lottery spokeswoman said. Mr. Davidson bought the ticket on Nov. 1, using the “pick six” option to allow the lottery’s computer to choose random numbers. The winning digits: 12, 14, 34, 39, 46 and the Powerball number, 36.

The following day, when the results were announced, the co-workers realized they had won a multistate lottery with odds — one in 195,249,054, to be specific — that would make even the boldest hedge fund manager run for the hills. But they had a brief scare after a local news station mistakenly ran the winning numbers with a changed digit.

Later, the station corrected the error, and they began planning to collect their millions. The trio formed the Putnam Avenue Family Trust to handle the winnings and decided to take a lump payment of $151.7 million rather than receive the prize in installments.

Link

reply to post by mishigas


I don't really understand how OWS is relevant to this at all. It seemed unnecessary and a little trollish to take a whack at them.

But, uh, good for them winning the lottery I guess.

Nothing, let them enjoy their winnings as long as they pay the taxes on it we're good!

reply to post by TupacShakur

reply to post by mishigas

I don't really understand how OWS is relevant to this at all. It seemed unnecessary and a little trollish to take a whack at them.

Ferchrissakes, willya lighten up a bit? It's just a part of the irony of life. Stop being so tight-a$$ed.

Keeping all that sourness boxed up inside will make you sick, I'm telling ya.

reply to post by mishigas


So they all chipped in the grand total of 33.3 cents each.
Perhaps they were hedging their bets.
I truly hope they use this windfall for a noteworthy righteous endeavour .
butt who am i kidding..

Good on them. It all evens out i guess eventually. When i was living in FL a (legal) Nicaraguan immigrant won the lottery there after being in the US for all of two weeks. He held the only winning ticket for a cool $180 mil.

When i was in the Navy a young Filipino E-2 on my ship won the Cali lottery, around $100 mil. The Navy let him get out due to the huge amount of money. He ended up going back to the Philippines and getting kidnapped for ransom. The kidnappers ended up killing him.

Originally posted by mishigas
Hey OWS - maybe karma is trying to tell you something.

What does this have to do with OWS?
2nd

When is anything really that simple? Word this morning from a family friend is that the real owner of the ticket is one of their clients and he/she is having the three guys come forward so the real owner can remain anonymous. Unfortunately, that is illegal according to CT state law. Also, the pledge of a 'substantial donation to charity' is also apparently a crock. No surprise.

Lottery winnings are already heavily taxed. I don't see why any of us would have a problem with it. They certainly got their money more honestly than most of the top earners.

reply to post by mishigas


I guess it might be ironic, if they are rich.. but they do buy lottery tickets.
What does it have to do with OWS? What are you talking about karma?
Karma for what?
You are just trolling, we all know how you feel about OWS.

That said, this forum is above top secret, so I don't see the relevance of posting a story about three people winning the lottery. Probably belongs in below top secret.

I'm pleased to see that so far no one has posted something inane along the lines of "people this rich shouldn't be allowed to win the lottery". Hopefully I'm not speaking too soon!

The story of them coming forward on behalf of a client is interesting. I wonder if it's true?

reply to post by mishigas


Says the guy who heard a story about lottery winners and immediately worked an angle to make it about a group he loathes. Talk about being soured.

The lottery is "no respecter of persons"...being a game of chance. (BTW it was Nov 2nd not last Saturday which is when they came forward.) At least they are giving a nice chunk of it to charity.

reply to post by KendraSins

Originally posted by mishigas
Hey OWS - maybe karma is trying to tell you something.


What does this have to do with OWS?
2nd

Does OWS have to be embedded in the headline? Or just littered throughout the article? Like maybe the second sentence of the article?

"Now the 1 percent has its own feel-good story."

Or maybe a reference to the demographics of the winners?

"Despite paying a $48 million tax bill, the men are expected to take home more than $100 million, a large sum even by the standards of Greenwich, a millionaire-studded suburb that is home to legions of hedge fund managers and Wall Street executives."

I didn't kick the ball, I just picked it up and ran with it.

But I will say one thing I've learned --- that the OWS crew on ATS are super sensitive when it comes to their failed attempt to copy the TPM. It must be difficult watching it fail before it ever got off the ground, so to speak.

reply to post by GogoVicMorrow

 

Says the guy who heard a story about lottery winners and immediately worked an angle to make it about a group he loathes. Talk about being soured.

You might want to start with sentence 2 of the source article, bunky, to see about angles. Then take your troll bucket and go home.

reply to post by GeorgiaGirl


The winnings were claimed in the name of The Putnam Avenue Family Trust. They also took over 3 weeks to come forward so that gave them time to make amendments to the "trust" to allocate the funds from the Lottery winnings. A trust has tax benefits as well as anonymity for something like this...altho we certainly know who the three are.