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(The Atlantic Wire)   Steve Jobs doesn't let a little thing like being dead stop him form continuing his life-long habit of screwing people out of the money he owed them   (theatlanticwire.com) divider line 97
    More: Hero, iMacs  
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21211 clicks; posted to Main » on 21 Dec 2012 at 10:56 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-21 11:00:22 AM
Hmmm, that's why my friend Ken, who sells and installs ozone generators for boats of this class, insist on payment on delivery. If you can't pay him right now he's perfectly willing to remove the system right now and you can put up with the smell until you want to pay him.
 
2012-12-21 11:01:36 AM
Always get a contract dude... At the very least, save emails.
 
2012-12-21 11:04:18 AM
Actually, Subby, I bet many dead men don't pay their debts. Jobs isn't alone here.
 
2012-12-21 11:04:50 AM
The guy kept working on it after Jobs died without consulting the estate first? Without a detailed contract? Yeah, cry me a river.
 
2012-12-21 11:05:02 AM
<img src="www.bsquaredphotography.net ">

hotrink
 
2012-12-21 11:05:32 AM
form?
 
2012-12-21 11:07:10 AM
Nice modernistic design. Sort of rectangular, with rounded corners.
 
2012-12-21 11:07:16 AM
Tell the captain not to use Apple maps for navigation.
 
2012-12-21 11:07:32 AM
Rather than talk about a dead man not having paid for a yacht, let's talk about the thousands of "zombi" private jets and yachts the 1% have. For those who have not heard of these, before the Great Recession, a lot of rich people bought private jets and super yachts and financed them instead paying cash. They then defaulted on their loans. No one can buy them, so the banks won't repossess them. They just wrote the debts off as losses. Hence the uber-rich get a plane or boat for free. Well, not really free, since we have to pay for them through higher fees and interest rates on consumer credit. But it's the least we can do to help these poor, downtrodden souls.
 
2012-12-21 11:10:17 AM

JackieRabbit: Rather than talk about a dead man not having paid for a yacht, let's talk about the thousands of "zombi" private jets and yachts the 1% have. For those who have not heard of these, before the Great Recession, a lot of rich people bought private jets and super yachts and financed them instead paying cash. They then defaulted on their loans. No one can buy them, so the banks won't repossess them. They just wrote the debts off as losses. Hence the uber-rich get a plane or boat for free. Well, not really free, since we have to pay for them through higher fees and interest rates on consumer credit. But it's the least we can do to help these poor, downtrodden souls.


That seems both all-too plausible and somewhat rage-inducing.  Got any links for me to read up on this?
 
2012-12-21 11:11:09 AM

JackieRabbit: Rather than talk about a dead man not having paid for a yacht, let's talk about the thousands of "zombo" private jets and yachts the 1% have. For those who have not heard of these, before the Great Recession, a lot of rich people bought private jets and super yachts and financed them instead paying cash. They then defaulted on their loans. No one can buy them, so the banks won't repossess them. They just wrote the debts off as losses. Hence the uber-rich get a plane or boat for free. Well, not really free, since we have to pay for them through higher fees and interest rates on consumer credit. But it's the least we can do to help these poor, downtrodden souls.


Anything is possible.
 
2012-12-21 11:11:18 AM
Steve Jobs has apparently found a way to deal with death's crippling effects...

4.bp.blogspot.com

"... Please, give generously, when Death knocks at your door."
 
2012-12-21 11:12:29 AM
Hero? Any other business man would be called an evil bastard.
 
2012-12-21 11:14:19 AM
He's still dead?

Best news I've heard all day
 
2012-12-21 11:15:54 AM
I know a guy who spent a year dead for tax reasons.
 
2012-12-21 11:18:02 AM
Please buy it one of you Google or Samsung billionaires
 
2012-12-21 11:20:27 AM

Marshal805: Hero? Any other business man would be called an evil bastard.


LOL what I was thinking.
 
vpb [TotalFark]
2012-12-21 11:20:34 AM
That's a butt-ugly yacht.
 
2012-12-21 11:23:31 AM
Does the Yacht come in the 16 gig Black Version?
 
2012-12-21 11:24:52 AM

Nothing To See Here: Does the Yacht come in the 16 gig Black Version?


Yeah, but it cost $100 million more than the 8 gig version.
 
2012-12-21 11:27:52 AM

NightOwl2255: Nothing To See Here: Does the Yacht come in the 16 gig Black Version?

Yeah, but it cost $100 million more than the 8 gig version.


And doesn't seem to have as many features.
 
2012-12-21 11:29:09 AM

JackieRabbit: Rather than talk about a dead man not having paid for a yacht, let's talk about the thousands of "zombi" private jets and yachts the 1% have. For those who have not heard of these, before the Great Recession, a lot of rich people bought private jets and super yachts and financed them instead paying cash. They then defaulted on their loans. No one can buy them, so the banks won't repossess them. They just wrote the debts off as losses. Hence the uber-rich get a plane or boat for free. Well, not really free, since we have to pay for them through higher fees and interest rates on consumer credit. But it's the least we can do to help these poor, downtrodden souls.


Sorry, but no. Financing doesn't work that way. A bank will always reclaim the financed material. They don't just throw up their hands and say "Shoot! We lost 4 million dollars on this yacht. Instead of just reclaiming this boat let's try to recollect it in small increments from thousands of other people through rage inducing fees".

Your statement that "nobody can buy them" is also completely false.
 
2012-12-21 11:31:35 AM
Samsung execs should buy it and rename it "Galaxy" (and then claim that the design was theirs all along)
 
2012-12-21 11:34:08 AM

JackieRabbit: Rather than talk about a dead man not having paid for a yacht, let's talk about the thousands of "zombi" private jets and yachts the 1% have. For those who have not heard of these, before the Great Recession, a lot of rich people bought private jets and super yachts and financed them instead paying cash. They then defaulted on their loans. No one can buy them, so the banks won't repossess them. They just wrote the debts off as losses. Hence the uber-rich get a plane or boat for free. Well, not really free, since we have to pay for them through higher fees and interest rates on consumer credit. But it's the least we can do to help these poor, downtrodden souls.


Do you have a link? Because you see banks don't work that way. If they have to write off a debt, a bank would much rather take the boat or plane so they have some asset with value against that debt. It's a balance sheet thing. If I loan you $10 million to buy a Gulfstream and you default, I'm going to take the damn plane because I can recover at least some of my $10 million. The last thing I'd do is say, "Keep the plane I'll just eat this $10 million."
 
2012-12-21 11:34:27 AM

NutWrench: I know a guy who spent a year dead for tax reasons.


Tax dodge nothing! You take one nap in a ditch in the park and they start declaring you this and that!
 
2012-12-21 11:36:49 AM

advex101: Samsung execs should buy it and rename it "Galaxy" (and then claim that the design was theirs all along)


And, of course, change the OS to Android.
 
2012-12-21 11:39:06 AM
Maybe Larry Ellison could use it as a dingy.

From most accounts, Jobs sounds like he was the opposite of the Wizard of Oz. In Job's case, he sounds like a good wizard, bad man.
 
2012-12-21 11:40:34 AM
Why is everyone picking on Steve Jobs? There are lots of other dead CEOs who don't pay for design services for their yachts either. They're just as bad. Why don't you even mention them? I'm tired of all you Rockefeller and Getty fan boys piling on Jobs. He's only doing what's required to keep up with all the other dead CEOs. What's wrong with that?
 
2012-12-21 11:42:05 AM

armor helix: JackieRabbit: Rather than talk about a dead man not having paid for a yacht, let's talk about the thousands of "zombi" private jets and yachts the 1% have. For those who have not heard of these, before the Great Recession, a lot of rich people bought private jets and super yachts and financed them instead paying cash. They then defaulted on their loans. No one can buy them, so the banks won't repossess them. They just wrote the debts off as losses. Hence the uber-rich get a plane or boat for free. Well, not really free, since we have to pay for them through higher fees and interest rates on consumer credit. But it's the least we can do to help these poor, downtrodden souls.

Sorry, but no. Financing doesn't work that way. A bank will always reclaim the financed material. They don't just throw up their hands and say "Shoot! We lost 4 million dollars on this yacht. Instead of just reclaiming this boat let's try to recollect it in small increments from thousands of other people through rage inducing fees".

Your statement that "nobody can buy them" is also completely false.


Actually it does sometimes.  If a bank repos an item they are responsible for its upkeep and maintenance until they can unload it.   Boats especially are famous money pits requiring constant maintenance.  If a bank looks at the recession and realizes there is a great market for a barely-used luxury yacht, and it is likely to sit on their books for six months or a year, they may well defer repo proceedings until the market recovers.  BOA is doing precisely that with a lot of houses right now
 
2012-12-21 11:42:29 AM
remember this this next time some rich ass *cough* Trump *cough* complains about the poor not taking any personal responsibility.
 
2012-12-21 11:42:49 AM
The Isink barge?
 
2012-12-21 11:43:51 AM

advex101: Samsung execs should buy it and rename it "Galaxy" (and then claim that the design was theirs all along)


so much win
 
2012-12-21 11:47:40 AM

Nothing To See Here: Does the Yacht come in the 16 gig Black Version?


It sure does, but you'll have to buy the special diesel fuel that only they sell because it doesn't use the normal diesel fuel that the old one used, and the speciall power adapters so you can plug in and use 110 volt "accesories".
 
2012-12-21 11:49:42 AM
Hero Tag -- Really??? For failing to pay for the iYacht. The simple fact that the iYacht has been seized tells me he's doing it wrong and deserves a Fail Tag. He should be more like Seator Kerry who pays for his boat but finds innovative ways to avoid the taxes.

multimedia.heraldinteractive.com

Actually, he used his wife's money to pay for it, but who's counting.
 
2012-12-21 11:49:46 AM
While Steve Jobs was truly one of the more evil people to ever live, the yacht dude is a moron for not having a firm contract. Don't mix business and pleasure, especially if you're dealing with a sociopath.
 
2012-12-21 11:50:05 AM
Kind of ugly.
 
2012-12-21 11:53:12 AM
well, according to THIS Dutch news report , Starck's fee was based on 6% of the final price which was originally estimated at 150M Euros.
It ended up costing "only" 105M Euros, but Starck wants the 6% of 150M fee instead.
 
2012-12-21 11:55:46 AM
I worked for quite a few wealthy people.......been my experience that the wealthy don't get to be wealthy by writing a lot of checks.


/Not surprised.
 
2012-12-21 11:56:14 AM

NutWrench: I know a guy who spent a year dead for tax reasons.


Neat.
 
2012-12-21 11:56:50 AM

wallywam1: The guy kept working on it after Jobs died without consulting the estate first? Without a detailed contract? Yeah, cry me a river.



This. Contract or no deal.
 
2012-12-21 11:57:29 AM

FitzShivering: While Steve Jobs was truly one of the more evil people to ever live


Wow. Really?

Are we that far gone from perspective that we make statements like this now?

Should a story come out that Jobs was hacking off the arms of children for not joining his private army or burying dissidents in mass graves, I'll change my tune. In the mean time I think I'll keep referring to him as a giant asshole and save the evil part for people hat really deserve it.
 
2012-12-21 12:00:01 PM
what a cool Yacht should look like...

images01.kurier.at
 
2012-12-21 12:03:36 PM

Brick-House: Yep...


Looks kind of like a U-Boat
doubtfulnews.com


Meanwhile, I like to hate on Steve Jobs, but it's bad business to not have a contract with anyone, and if I was the estate holder I'd be suspicious of this commission claim too.
 
2012-12-21 12:05:09 PM

Johnson: well, according to THIS Dutch news report , Starck's fee was based on 6% of the final price which was originally estimated at 150M Euros.
It ended up costing "only" 105M Euros, but Starck wants the 6% of 150M fee instead.


If this is true, fark him.
 
2012-12-21 12:07:08 PM
What Raymond Luxury-Yacht might look like:
www.cardinalfang.net
 
2012-12-21 12:07:19 PM

Magorn: Actually it does sometimes.  If a bank repos an item they are responsible for its upkeep and maintenance until they can unload it.   Boats especially are famous money pits requiring constant maintenance.  If a bank looks at the recession and realizes there is a great market for a barely-used luxury yacht, and it is likely to sit on their books for six months or a year, they may well defer repo proceedings until the market recovers.  BOA is doing precisely that with a lot of houses right now



Bank of America is an aberration, carrying something like three times the industry average in terms of its foreclosure portfolio. While they were holding onto the homes they were placing insurance (Force-Placed) on the properties with an insurance company that was a subsidiary of BoA at a significant mark-up. The insurance charge is then added to the debt and forms part of the judgment against the homeowner. After the FTC uncovered the practice and forced BoA to sell off the insurance subsidiary the inflated inventory of foreclosed homes started dropping.
 
2012-12-21 12:08:54 PM

ZzeusS: wallywam1: The guy kept working on it after Jobs died without consulting the estate first? Without a detailed contract? Yeah, cry me a river.


This. Contract or no deal.


The legal theory of quantum meriut would like a word with you
 
2012-12-21 12:10:01 PM

advex101: Samsung execs Apple should buy it and rename it "Ipod/Ipad/imac" (and then claim that the design was theirs all along)


FTFY
 
2012-12-21 12:11:10 PM
Yacht to know better.
 
2012-12-21 12:11:16 PM

JK47: Magorn: Actually it does sometimes.  If a bank repos an item they are responsible for its upkeep and maintenance until they can unload it.   Boats especially are famous money pits requiring constant maintenance.  If a bank looks at the recession and realizes there is a great market for a barely-used luxury yacht, and it is likely to sit on their books for six months or a year, they may well defer repo proceedings until the market recovers.  BOA is doing precisely that with a lot of houses right now


Bank of America is an aberration, carrying something like three times the industry average in terms of its foreclosure portfolio. While they were holding onto the homes they were placing insurance (Force-Placed) on the properties with an insurance company that was a subsidiary of BoA at a significant mark-up. The insurance charge is then added to the debt and forms part of the judgment against the homeowner. After the FTC uncovered the practice and forced BoA to sell off the insurance subsidiary the inflated inventory of foreclosed homes started dropping.


Yeah the CFPB's apparently working on some new amendments to regulations that enforce the Truth In Lending Act, and the Real Estate Settlement Procedures Act to come down hard on that sort of  Shenannigans
 
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