Dr. Boyce Money – The Latest – 12/21/09

 

 

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  How a Happy Meal Can Cost You Half a Million Dollars

  Many of us don't spend much time thinking about retirement planning. We figure that it's something ...

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  Sinbad: Comedian Files for Bankruptcy After Going Broke

  It turns out that Sinbad is broke. The comedian declared bankruptcy on December 11th of this year, ...

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  Man Gambles Away $127 Million Dollars - Dr. Boyce Money

  Terrance Watanabe has a serious problem. The 52-year old man went into Harrah's casino, got drunk ...

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  Gatorade Drops Tiger Woods Drink: Dr. Boyce Money

  Gatorade has dropped Tiger Woods, well, at least they dropped his drink. The new Gatorade drink, ...

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  Prosperity Gospel and the Black Church: Legitimate or Not?

  Nearly every African American knows just how important the black church is to our community. We ...

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  Inner City Schools: Funding Should be Equal Across the Board

  The following is an excerpt from the book, "Black American Money." I saw some random "expert" on a ...

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Accenture Drops Tiger Woods

A major sponsor for Tiger Woods announced Sunday that it is dropping the golf star in light of recent controversy swirling around his personal life.

Accenture, a management consulting firm, said on its Web site that "given the circumstances of the last two weeks ... the company has determined that he is no longer the right representative for its advertising."

The move ends a sponsorship arrangement that lasted six years.

Another major sponsor, Gillette, said Saturday it was "limiting" Woods' role in its marketing programs to give him the privacy to work on family relationships.

Woods announced on his own Web site Friday that he is taking an "indefinite break" from professional golf.

The 33-year-old golfer, who tops the sport's world rankings, has been mired in controversy since he crashed his car outside his Florida mansion late last month. In the week following the crash, Woods apologized for "transgressions" that let his family down, and US Weekly magazine published a report alleging that Woods had an affair with a 24-year-old cocktail waitress named Jaimee Grubbs.

 

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News: Tiger Loses $180 Million if He Takes a Year Off?

 

According to the New York Post, this is how much Tiger stands to lose if he takes the year off:

$180 MILLION IN PERSONAL EARNINGS, INCLUDING:

$110 million in advertising income, if sponsors rebel and dump contracts

$23 million in tournament prize money (roughly the amount he won in his last full season on the PGA Tour and abroad)

$30 million in fees for three golf courses he’s designing, if deals fall through

$17 million in appearance fees (equal to his best year for showing up to play minor events)

$591 MILLION IN INDUSTRY LOSSES, INCLUDING:

$455 million in losses to his Nike-endorsed golf brand, based on estimated 35 percent sales decline

$40 million in lost PGA Tour ticket sales, based on a predicted 25 percent loss at 20 Woods-attended tourneys

$96 million if the Woods-brand EA Sports golf video game goes down the tubes

Read more: http://www.nypost.com/p/news/national/tiger_to_suffer_ashEvFQnFsG4EKGuaCCDML#ixzz0ZaM5sD5W

Man Loses $127 Million Dollars at Casino

During a year-long gambling binge at the Caesars Palace and Rio casinos in 2007, Terrance Watanabe managed to lose nearly $127 million.

The run is believed to be one of the biggest losing streaks by an individual in Las Vegas history. It devoured much of Mr. Watanabe's personal fortune, he says, which he built up over more than two decades running his family's party-favor import business in Omaha, Neb. It also benefitted the two casinos' parent company, Harrah's Entertainment Inc., which derived about 5.6% of its Las Vegas gambling revenue from Mr. Watanabe that year.

Terrance Watanabe, 52, is believed to have the biggest losing streak in Las Vegas history, losing $127 million dollars in one year. Mr. Watanabe, who now lives in the Bay Area, stands near the entrance to Stanford University on Dec. 3, 2009.

 

Today, Mr. Watanabe and Harrah's are fighting over another issue: whether the casino company bears some of the responsibility for his losses.

In a civil suit filed in Clark County District Court last month, Mr. Watanabe, 52 years old, says casino staff routinely plied him with liquor and pain medication as part of a systematic plan to keep him gambling.

Nevada's Gaming Control Board has opened a separate investigation into whether Harrah's violated gambling regulations, based on allegations made by Mr. Watanabe.

 

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Tiger Woods Ads Disappear from TV

Tiger Woods is all over the TV, but his ads haven't been.

According to media tracker Nielsen, the last time a commercial featuring Tiger Woods appeared on television was Nov. 29. The 30-second Gillette ad aired during NBC's "Football Night in America," the pre-game show that broadcast prior to the Sunday night football game between the New Orleans Saints and the New England Patriots.

The ad featured Woods, New York Yankees shortstop Derek Jeter, Spanish basketball phenom Ricky Rubio and an announcer who says, "Here's to confidence," and aired eight times during November, according to Aaron Lewis, a spokesman for Nielsen.

 

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UCLA Students Running into Major Financial Trouble

Watch this video, which describes the financial trauma for UCLA students as the result of a recent tuition hike.

College Student Money Runs Short: How is She Gonna Work It Out?

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This college student has financial problems.