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Heeeeeeeeeeere's Bankruptcy! Broke Ed McMahon Keeps a Positive Outlook While Creditors Loom
Posted by Defamer Hollywood at 3:20 AM on June 7, 2008
Screw the oil market — look no further than the flagging fortunes of American icon Ed McMahon for an uncanny barometer of our nation's volatile economy. The man whose face in your mailbox once reflected decades of surging domestic wealth has reportedly suffered a financial decline mirroring our war-addled vortex of national debt: $1.5 million, to be exact, half of which is owed to American Express, with another $644,000 owing on a palatial house he can't seem to unload:
Some potential buyers have been scared off by the area, which boasts such celebrity neighbours as George Clooney and Britney Spears, who ironically gained fame on McMahon's Star Search. Alex Davis, McMahon's real estate agent, told the Associated Press, "When we were trying to sell the house one time, there were about 100 paparazzi there."
Nevertheless, despite his current cash calamities, McMahon's rep said his client has "always been optimistic, and he remains optimistic that something good will happen."
McMahon's generosity hasn't helped, either, with the gregarious 85-year-old WWII vet's hotel-gratuity and wife-investment pastimes having finally caught up with him. Nevertheless, expect a volunteer crew of Hollywood philanthropists led by Eli Broad and David Geffen to parking their own Prize Van at McMahon's doorstep, borrowing one of the neighbouring paparazzi and presenting a balloon bouquet and an oversized check to the TV legend. Let the healing begin, America!
- Inside Ed McMahon's Money Mess [HuffPo]
Comments (AU Comments · US Comments)
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Losin_it
Posted 4:01 AM 7/6/08
@NoWireHangers: They're also difficult to deposit into your account. They don't fit easily through the bulletproof partition that separates bank customer and teller.
Losin_it
Beppo
Posted 3:59 AM 7/6/08
"Some potential buyers have been scared off by the area, which boasts such celebrity neighbors as George Clooney and Britney Spears ... "
I'm still drunk from last night. Sorry, kiddies.
Beppo
CourageousCoward
Posted 3:53 AM 7/6/08
Does Publisher's Clearing House send entries to the Poor House?
CourageousCoward
NoWireHangers
Posted 3:53 AM 7/6/08
How can they foreclose on the "house where dreams come true"?
I'm sure Ed has the money for his mortgage payments and credit card bills, it's just that those giant checks are so hard to fit into the mailbox.
NoWireHangers
Beppo
Posted 3:53 AM 7/6/08
@jason1007: I understand the media are inhibiting the ability to sell Ed's property. Among his neighbors? Britney Spears.
Beppo
Losin_it
Posted 3:49 AM 7/6/08
Even during the fabulous Clintonian years of non-stop economic paradise, a guy that broke his neck (like McMahon recently did) was going to have trouble paying off such a large monthly nut. It's NOT the economy, Stu...
Losin_it
kookla
Posted 3:49 AM 7/6/08
Maybe if Ed's lucky, he may already be a millionaire!
kookla
Little Mintz Sunshine
Posted 3:43 AM 7/6/08
"...he remains optimistic that something good will happen."
Like...death?
Little Mintz Sunshine
jason1007
Posted 3:25 AM 7/6/08
For people facing foreclosure, what a brilliant PR move... go public with your poor story, have every news outlet cover it, get the helicopters to photograph your estate, BAM! SOLD!
jason1007
NoWireHangers
Posted 4:25 AM 7/6/08
@Losin_it: Not to mention the balloon drop and confetti fanfare that occurs every time you open your check book.
NoWireHangers
Losin_it
Posted 5:36 AM 7/6/08
Ed: Karnak! I hold in my hand....the last envelope!
(Audience applauds)
Karnak: (To audience) May the golden yak of paradise force you to take a nap on Brad Pitt's living room furniture!
(Audience laughs)
Ed: Here, Karnak. The last envelope.
Karnak: A person that doesn't pay his mortgage, an Irishman, and a veteran!
Ed: A person that doesn't pay his mortgage, an Irishman, and a veteran.
(Audience laughs)
Karnak: A person that doesn't pay his mortgage, an Irishman, and a veteran.
(Opens envelope)
Karnak: Ed McMahon. Sorry, Ed, but your bank asked me to hand you this...here. I think it's some sort of summons for you to appear at a foreclosure proceeding. They're taking your house.
Ed: Hey-OOOOOOOOOOOOOOOOOOOO!
Losin_it
WGARefugee
Posted 5:18 AM 7/6/08
Reportedly his lawyers are frustrated by the fact that, whenever they try to convey the seriousness of the situation, all Ed does is slap his knees and guffaw.
WGARefugee
MameDennis
Posted 6:54 AM 7/6/08
@WGARefugee:
You are CORRECT, sir!
MameDennis
HankWankley
Posted 7:29 AM 7/6/08
Time to rev up the Ed McMahon Party Machine.
HankWankley
uncle_wiggly
Posted 9:22 AM 7/6/08
I don't understand. What kind of overhead is required to be Ed McMahon.
uncle_wiggly
LosersHaveCreditCardDebt
Posted 10:23 AM 7/6/08
The LA Times runs these tear jerker stories every flipping day. It seems Ed pissed all his millions down the Johnny.
LosersHaveCreditCardDebt
dluvvly
Posted 11:20 AM 7/6/08
I certainly don't want someone like Ed to be homeless, but how about lowering your budget to something you can afford? Is that ever a consideration?
dluvvly
Superstarsteve
Posted 2:43 AM 8/6/08
Most people don't know this, but he's been through hell and back with that house. It had black mold which made him look like he was near death and put him in the hospital.
The mold is gone, he's cracked his neck, the market is flat, and oil is $140 a barrel, and it's hard to get a loan....etc.
And...on Larry King his wife claimed that with this neck problem..that their SEX LIFE has suffered as well. I can't picture Ed getting all Jiggy with his wife...ewww.
Some gazillionaire (and you know who you are) can surely make him a check or just BUY his house...come on, you know you're out there...and some of you WANT to have a trophy house here in the US up the street from Brit Brit and Clooney. If you're in the UK we're HALF OFF! Such a deal!
Superstarsteve