Coaches are targets too?

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rich rod

Rich Rodriguez sued over bad real estate deal; advisor says coach is victim of Ponzi scheme.

Apparently, professional athletes aren’t the only targets for financial con-artists.  Michigan football coach Rich Rodriguez was allegedly involved in a $26 million deal to build condos on the Virginia Tech campus with a partner that is a felon and banned Clemson University booster.

It’s not clear whether he knew about his partner’s troubles before they got into business together, but it looks like more due dilligence should have been done.  See my previous post on Being Careful About Who You Trust!

Read the entire story here.

Get Paid What You Are Worth

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Even in a recession, it’s not all about cutting back and being frugal, sometimes you just have to make more money! Are you getting paid what you’re worth?  No?  Well if Paula Abdul can walk away from a 10 figure deal, certainly you can squeeze a few extra g’s out of your boss.  Here’s how.

Williams Sisters to Dominate Another Sport…Football

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SIBLING SUPPORT SYSTEM photo | Serena Williams, Venus Williams

MIAMI — Venus and Serena Williams have found a new sport: pro football.

The tennis-playing sisters will become the latest celebrities to own a stake in the Miami Dolphins, several sources told ESPN.com senior writer Greg Garber on Wednesday.

A person close to the negotiations told The Associated Press an agreement was near but not yet final. That person did not want to be identified because the announcement has not been made.

 ”There have been preliminary talks, and hopefully it’ll work out,” Serena Williams said Wednesday night after a 6-3, 6-2 win over Yaroslava Shvedova in Toronto. “That would be a great opportunity for both of us. You never know. We’ll see what happens.”

The Williamses live in Palm Beach Gardens, Fla., about an hour’s drive from the Dolphins’ stadium. Their new role will be significant in part because the NFL has no African-American majority team owner.

Update! Venus also has a new book out where she discusses her success and her life as a tennis star. Click the image below to check it out!

How to make $4 billion in 10 months

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Warren Buffett’s stake in Goldman Sachs pays off…in a BIG way

Remember when Warren Buffett told everyone in a NY Times OP-Ed that the key to investing is to “Be greedy (BUY) when others are fearful and to be fearful (SELL) when others are greedy?”  Well, I hope you listened.

Buffett famously took a stake in Goldman last September, at just the time when everyone felt as though the economic sky was falling.  Now that the market is in the process of recovering, and Goldman’s stock has shot up, his investment is now worth about $9.1 billion….about $4.1 billion more than what he paid for it in September.

Not bad for 10 months of work.

Read the entire story here

Who’s the Boss?

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may coverWho’s The Boss?
Don’t Like Your Job? Create Your Own.

When you turn on the TV and you hear that 5 million people have lost their jobs since the beginning of this recession, I’m sure those of us that still have one are thankful to say the least. But, is it truly a blessing to be trapped in a job that you hate, working for a bunch of people that you can’t stand? Not really. And you wonder why it’s so hard to get up in the morning? It’s great to be thankful that you can put food on the table, but is that all that you want out of the deal?

Who’s the Boss?

No, I’m not referring to the 80’s sitcom where Tony Danza used to chase around Judith Light like he didn’t have any sense. Although, who knew that Alyssa Milano, Tony’s daughter on the show, would turn out so smoking hot that she has grown men watching “Charmed” just to get a glimpse of her? I sure didn’t see that coming…but I digress.

I’m talking about taking a look at who is really the boss of you. Do you have a career rather than just a job? [If you are not sure…you definitely have a job.] How much control do you have over the direction of your career? Over how much money you make? If you don’t like the answers to these questions, it might be time to strike out on your own.

I know, I know, this isn’t what you’ve been taught…until now. If you are anything like me, your parents told you that the formula for success was Study Hard + Good Grades = Good College and Good Grades + Good College = Good Job. This equation is true. But you know by now that I don’t want you to have a GOOD JOB, I want you to have a GREAT LIFE. In order to do that, I think it’s time you started thinking about starting your own business. Why work yourself to death making someone else rich?

Where is Your Leverage?

It is very difficult for most people to get wealthy because their only source of income is their hourly wage or salary. But there is only one you and there are only 24 hours in the day. Sure, if you have a unique skill (doctors, attorneys, athletes) that someone is willing to pay top dollar for, you can use that model. If not, you need to find some sort of leverage to help you build real wealth.

Starting a business helps you get that leverage. There is a limit to what you can sell on your own, but your income is unlimited once you hire a bunch of people that can sell for you. The fact is either you get rich on the backs on someone else, or someone else gets rich off of yours. Period. Which one of those is your favorite position?

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