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Ed McMahon Math


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50 replies to this topic

#41
Mary

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I thought he just did some commercials? Surely he must have gotten compensated for that? Hopefully that will ease some of his troubles. Of course they report the bad stuff. They're not going to report the positive in the commercial ads he's done. Just because he has another law suite, doesn't mean he can't pay it off now. I'm sure he has nothing to worry about, hopefully. dunno.gif

#42
Joe548

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Add another to the list:

Creditor sues Ed McMahon, wife, over $250,000 loan

Aug 12, 5:30 AM (ET)

LOS ANGELES (AP) - Ed McMahon is being sued by another creditor. Westmoore Lending of Huntington Beach, Calif., sued McMahon for more than $275,000 it says the pitchman and former "Tonight Show" sidekick owes from a 2006 loan.

A growing number of creditors say McMahon and his wife Pamela owe them money. The other actions have targeted debts incurred for the couple's Beverly Hills home, prescription drugs, credit card debt and attorneys' fees for his daughter's divorce.

The lawsuit filed Monday in Los Angeles Superior Court does not specify what the McMahons borrowed the money for, but claims they defaulted on the loan in early 2007.

A spokesman for McMahon said Monday that he hadn't seen the lawsuit yet.

http://apnews1.iwon..../D92GLI2G0.html




#43
mrwallee

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Trump to buy McMahon's home


Thursday, August 14, 2008

(08-14) 18:26 PDT Beverly Hills, CA (AP) --

Donald Trump will soon be Ed McMahon's landlord.
Trump announced Thursday he would save the television personality's Beverly Hills mansion from foreclosure by buying it for an undisclosed amount and leasing it to McMahon.
McMahon, 85, who was Johnny Carson's sidekick on "The Tonight Show" for three decades, has not worked for about 18 months because of a neck injury. He defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp.
McMahon's spokesman, Howard Bragman, told The Associated Press that paperwork on the sale had not been completed but that McMahon was "very optimistic" the deal would go through.
Trump told the Los Angeles Times he doesn't know McMahon personally, but acted out of compassion because helping out "would be an honor."
"When I was at the Wharton School of Business I'd watch him every night," the mega-developer said. "How could this happen?"
McMahon bought the six-bedroom, five-bathroom, 7,000-square-foot house in January 1990. The home was listed at $4.6 million last weekend down from a peak price of $7 million.



#44
NuttyJerryFan

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Now that's some nice news!

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#45
Mary

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I knew Donald wasn't the bad guy everyone portrays him to be. Way to go Mr. Trump! teehee.gif

#46
oh doctah

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J-Clapping.gif Thank you Mr. Donald Trump! It took a fan of Ed McMahon to save him.
Like I said in a previous post, Where was Mrs. Johnny Carson with her 200 million dollars
that Johnny left her? Thanks again Mr. Trump, you are truly a class act. smile.gif

#47
Mary

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I was wondering about something though. I wonder if it would have been just cheaper for Donald to just pay off his debts and loans? Then Ed could keep his home and not have to lease it. With all of Donald's money, it would be pennies to him anyway. I mean, I'm thankful he is stepping in , in some way, to help Ed. But I was just thinking of that. smile.gif

#48
Boobalack

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It's beginning to look like the house is just a drop in the bucket. I've seen several stories about other financial institutions either filing or planning to file suit against him. Still, Donald Trump could probably cover it all. But it's not his responsibility, so I guess we'll have to wait and see if anyone else comes to the rescue. It's nice that he's saving the house, but if Big Ed can't keep up the mortgage payments, how is he going to be able to make the lease payments? I agree with you, Mary. If Trump is going to do this, he should just donate the house back to Big Ed. This way, it looks like, to the general public, that he's doing a lot more than he really is. Good publicity for "The Donald!" newroll.gif

#49
oh doctah

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It appears that Ed owes alot of money to others not just the mortgage. Donald Trump is doing a smart thing. He is very good with financial affairs so I think he is doing what is in Ed's best interest. Donald will own the house, sort of an investment, although California real estate has gone down the tubes the past year. This will keep Ed and his wife from getting into more trouble by using the house as a piggy bank and spending all the home equity line of credit. I saw a clip on ET of Trump saying that Ed's financial crisis is a real mess. I hope he can sort it all out for Ed. I believe Donald is doing this out of the goodness of his heart and it was just in time because I heard that the bank was within days of throwing Ed and his wife out on the street. dunno.gif

#50
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Ed sells the house - but not to Trump...

Friday, August 22nd 2008, 5:47 PM

The Donald is not becoming Ed McMahon's new landlord, but the financially troubled former 'Tonight' sidekick is selling his house. LOS ANGELES -Ed McMahon is on the move.

McMahon has agreed to a deal with a private buyer for his hilltop home, said Howard Bragman, the former "Tonight" show sidekick's spokesman.

Bragman declined to name the buyer or the selling price. But he said it isn't real estate mogul Donald Trump, who recently offered to buy McMahon's home and act as a landlord.

"For Mr. Trump, this acquisition was not business-related, but, as he has stated, was meant to help out an American icon," said Michael Cohen, special counsel to Trump. "If another buyer should emerge who will create the benefit Mr. Trump sought for Ed McMahon, then he is clearly pleased."

Bragman said McMahon and his wife, Pamela, will move out of the home when the sale is complete.

The couple's property is located in a hilltop gated community that is also home to Britney Spears.

McMahon has faced money woes for months, with creditors filing lawsuits against him for everything from unpaid prescription medicines to loans.

His home was facing foreclosure after he defaulted on a $4.8 million loan.

McMahon has said he was experiencing financial troubles because he was unable to work after falling and breaking his neck in March 2007. The 85-year-old has for years worked as a pitchman and recently resumed that role, appearing with comedian Jimmy Kimmel to advertise Pontiac vehicles.

While McMahon's foray into California's lagging real estate market may be near an end, his legal battles are not.

He sued Cedars-Sinai Medical Center and two doctors in July, accusing them of discharging him with a broken neck after his fall in 2007. He also alleged the hospital botched two neck surgeries.

The hospital responded in court filings on Wednesday by asking a Los Angeles Superior Court judge to throw out many of McMahon's claims.

Attorneys for Cedars-Sinai wrote that McMahon's lawsuit failed to prove allegations of fraud, battery, elder abuse and emotional distress. They also want to prevent McMahon from seeking punitive damages.

A hearing on the lawsuit is scheduled for Sept. 18.

Other lawsuits are seeking more than $750,000 from McMahon for unpaid loans and fees attorneys say McMahon agreed to pay to handle his daughter's divorce in New York.

---

http://www.nydailyne...e__but_not.html

#51
Mary

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HHMM, interseting. I wonder if we'll ever find out who the buyer is. I wonder why he didn't chose Donald. Must be some reason. Thanks for posting that. smile.gif




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