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PrintableTremolina said: Mindflux said: And what no-one seems to grasp is that late payment is the norm, particularly for big payouts. So, instead of stupidity, or laziness, this could be his accountants being clever and holding back on 3/4million worth of payments for as long as possible, because the net interest will be worth more than any fines or penalties. I've said this on plenty of threads but very few seem to consider it - jeesh, yes, he's getting sued here and there and he's holding back on payment. Why does everyone have to assume that's an alarm signal - seems like normal business practice to me! Yes that's a common practice, but these are taxes. The tax man can confiscate your property and hasten your bankruptcy if he likes when you are way too late. You can play those games with other creditors, but not with the tax man. If you are not an idiot at least. And I doubt the nett interest on holding on to 250K a couple of months longer add enough to equal the fine of 30.000. That's more than a 10% interest rate. Don't think so. - [Edited 3/26/10 11:43am] I made a caveat for this in another thread, cos I knew someone would say that. He doesn't just owe $200k though, does he. There's the £3million for the Irish case for a start. Now, when you start talking about witholding $3/4 million for a month or two (or as long as you can get away with) then we're talking a significant amount of interest. Worth waiting for! Sure, you can't mess the taxman around as much as others, but you can still be late - Prince has shown this before, which is why it seems deliberate. He's always late, but pays up in the end. He'll do this because it works for him! ...we have only scratched the surface of what the mind can do...
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Mindflux said: Tremolina said: Yeah, I think it's mostly a complete lack of interest and care about these matters. Thas is stupid and could become dangerous if he doesn't get his house in order in time, but I think Prince has shown before that while he is always late, he laso always manages to do 'just' fix it. One can never keep that up their entire life tho'.... Did you actually read what I wrote about late payments being common practice?! I'll repeat - these late payments are probably DELIBERATE in order to earn more money, not a mistake!! Take it easy son. Read below. | |
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Mindflux said: Tremolina said: Yes that's a common practice, but these are taxes. The tax man can confiscate your property and hasten your bankruptcy if he likes when you are way too late. You can play those games with other creditors, but not with the tax man. If you are not an idiot at least. And I doubt the nett interest on holding on to 250K a couple of months longer add enough to equal the fine of 30.000. That's more than a 10% interest rate. Don't think so. - [Edited 3/26/10 11:43am] I made a caveat for this in another thread, cos I knew someone would say that. He doesn't just owe $200k though, does he. There's the £3million for the Irish case for a start. Now, when you start talking about witholding $3/4 million for a month or two (or as long as you can get away with) then we're talking a significant amount of interest. Worth waiting for! Sure, you can't mess the taxman around as much as others, but you can still be late - Prince has shown this before, which is why it seems deliberate. He's always late, but pays up in the end. He'll do this because it works for him! Well first off 3 million POUNDS for croke park is a bit steep and the amount to be paid was guaranteed in court to be paid within a couple of weeks or the court would further rule on the case. In other words he isn;t holding any of that money back. Then that issue also stands separate from the tax issue. The taxes he owed last eyar already and must be paid before the end of april. If not, he could have a big problem on his hands. Lastly, even if he would somehow hold back 750K and make enough interest on it with a 5% rate, then what's the gain? Zero. IOW: this is just another form of laziness/badbusiness on his part. [Edited 3/26/10 11:53am] | |
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Mindflux said: Tremolina said: Yes that's a common practice, but these are taxes. The tax man can confiscate your property and hasten your bankruptcy if he likes when you are way too late. You can play those games with other creditors, but not with the tax man. If you are not an idiot at least. And I doubt the nett interest on holding on to 250K a couple of months longer add enough to equal the fine of 30.000. That's more than a 10% interest rate. Don't think so. - [Edited 3/26/10 11:43am] I made a caveat for this in another thread, cos I knew someone would say that. He doesn't just owe $200k though, does he. There's the £3million for the Irish case for a start. Now, when you start talking about witholding $3/4 million for a month or two (or as long as you can get away with) then we're talking a significant amount of interest. Worth waiting for! Sure, you can't mess the taxman around as much as others, but you can still be late - Prince has shown this before, which is why it seems deliberate. He's always late, but pays up in the end. He'll do this because it works for him! It may all be some clever accounting to make some money in interest, but he's already been judged against for breaking a contract, and now he's in flagrant violation of a court order. At some point, this excuse just doesn't cut it any more. The payments are due now. This "I'm a millionaire and I want to earn interest on that money first" shit don't fly when you're talking about the courts. | |
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errant said: Mindflux said: I made a caveat for this in another thread, cos I knew someone would say that. He doesn't just owe $200k though, does he. There's the £3million for the Irish case for a start. Now, when you start talking about witholding $3/4 million for a month or two (or as long as you can get away with) then we're talking a significant amount of interest. Worth waiting for! Sure, you can't mess the taxman around as much as others, but you can still be late - Prince has shown this before, which is why it seems deliberate. He's always late, but pays up in the end. He'll do this because it works for him! It may all be some clever accounting to make some money in interest, but he's already been judged against for breaking a contract, and now he's in flagrant violation of a court order. At some point, this excuse just doesn't cut it any more. The payments are due now. This "I'm a millionaire and I want to earn interest on that money first" shit don't fly when you're talking about the courts. I'm aware of that, he's aware of that, his accountants will be aware of that and I'm pretty sure the court will be aware too. Doesn't stop him leaving it until the last minute to pay without getting in trouble. Sure, he's sailing close to the wind, but I doubt it will be left so as to provide him with further trouble. ...we have only scratched the surface of what the mind can do...
My dance project; www.zubzub.co.uk Listen to any of my tracks in full, for free, here; www.zubzub.bandcamp.com Go and glisten | |
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Mindflux said: errant said: It may all be some clever accounting to make some money in interest, but he's already been judged against for breaking a contract, and now he's in flagrant violation of a court order. At some point, this excuse just doesn't cut it any more. The payments are due now. This "I'm a millionaire and I want to earn interest on that money first" shit don't fly when you're talking about the courts. I'm aware of that, he's aware of that, his accountants will be aware of that and I'm pretty sure the court will be aware too. Doesn't stop him leaving it until the last minute to pay without getting in trouble. Sure, he's sailing close to the wind, but I doubt it will be left so as to provide him with further trouble. how many lawsuits does it take? there's what, 4 of them already this year? | |
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"whatever U heard about the NPG's financial situation....Like An Eskimo CHILL...its all good" thaCONcept |
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Tremolina said: Mindflux said: I made a caveat for this in another thread, cos I knew someone would say that. He doesn't just owe $200k though, does he. There's the £3million for the Irish case for a start. Now, when you start talking about witholding $3/4 million for a month or two (or as long as you can get away with) then we're talking a significant amount of interest. Worth waiting for! Sure, you can't mess the taxman around as much as others, but you can still be late - Prince has shown this before, which is why it seems deliberate. He's always late, but pays up in the end. He'll do this because it works for him! Well first off 3 million POUNDS for croke park is a bit steep and the amount to be paid was guaranteed in court to be paid within a couple of weeks or the court would further rule on the case. In other words he isn;t holding any of that money back. Then that issue also stands separate from the tax issue. The taxes he owed last eyar already and must be paid before the end of april. If not, he could have a big problem on his hands. Lastly, even if he would somehow hold back 750K and make enough interest on it with a 5% rate, then what's the gain? Zero. IOW: this is just another form of laziness/badbusiness on his part. [Edited 3/26/10 11:53am] Sorry for the typo - that should have been $3million (about £1.6million). It might have been guaranteed, but I'm sure you must have read that Prince still hasn't paid it?! Regardless of the court order. So, actually he is holding that money back! How is he not? He hasn't paid it! And its not separate at all, just because its about different types of debt. The fact is its still well over $3million dollars that must come out of Prince's bank.....it will come out of that interest earning account at the last possible moment, I assure you. [Edited 3/26/10 12:00pm] [Edited 3/26/10 12:02pm] ...we have only scratched the surface of what the mind can do...
My dance project; www.zubzub.co.uk Listen to any of my tracks in full, for free, here; www.zubzub.bandcamp.com Go and glisten | |
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No. And I don't wish it upon him. If prince.org were to be made idiot proof, someone would just invent a better idiot. | |
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He has to tour now, so that may be a good thing..lol All you others say Hell Yea!!  | |
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2freaky4church1 said: He has to tour now, so that may be a good thing..lol
He's not going to tour ... he'll play a one of gig or a set of 3 but he's not "touring" The man's got money and if he needs to make more he'll do a gig charge $200 a ticket and sell 20,000 tickets ... Drop a CD or DVD and rake in the cash .... The only person who could rock like Prince is MJ and he's gone ...Prince is the last man standing people will pay extra to see him ... fact..  Da, Da, Da....Emancipation....Free..don't think I ain't..! London 21 Nights...Clap your hands...you know the rest..
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i hope not  | |
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xlr8r said: RodeoSchro said: I'm really smart and I have the whole weekend off, so explain it. It's something I use that was in ancient greeek mythology called objectivity and common sense. 
In other words, you have absolutely no clue whatsoever. | |
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Mindflux said: And what no-one seems to grasp is that late payment is the norm, particularly for big payouts. So, instead of stupidity, or laziness, this could be his accountants being clever and holding back on 3/4million worth of payments for as long as possible, because the net interest will be worth more than any fines or penalties.
I've said this on plenty of threads but very few seem to consider it - jeesh, yes, he's getting sued here and there and he's holding back on payment. Why does everyone have to assume that's an alarm signal - seems like normal business practice to me! No, pards - late payments on taxes and insurance is NOT the norm. He owes $194,642 and half of that amount was due in May. The second half payment, due in October, also hasn’t been paid. As a result of the delinquency, more than $27,000 in penalties and $5,000 have accrued. So he's incurred $32,000 in charges on a $194,642 debt in 10 months. That works out to an annual interest rate of 19.7%. Do you really think there is a "net interest spread" there that works in Prince's favor? If so, PLEASE tell us where we can go earn 20%+ in interest! If you think delaying payment at a cost of 19.7% interest is "the norm", then you've been sadly misguided. I can also tell you that the interest rate on post-judgment settlement amounts is generally 12% and starts accruing the day the payment was supposed to have been made. Courts, creditors and governmental entities do not want to be your bank. That's why late payments are NOT the norm - especially on big payouts. . [Edited 3/26/10 13:20pm] [Edited 3/26/10 13:22pm] | |
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xlr8r said: RubyButterfly said:
Well, I hope he's saving some dough and is posting here using the (free) internet at the library.  Im at WalMart putting in applications.  To Sir, with Love | |
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Mindflux said: Tremolina said: Well first off 3 million POUNDS for croke park is a bit steep and the amount to be paid was guaranteed in court to be paid within a couple of weeks or the court would further rule on the case. In other words he isn;t holding any of that money back. Then that issue also stands separate from the tax issue. The taxes he owed last eyar already and must be paid before the end of april. If not, he could have a big problem on his hands. Lastly, even if he would somehow hold back 750K and make enough interest on it with a 5% rate, then what's the gain? Zero. IOW: this is just another form of laziness/badbusiness on his part. [Edited 3/26/10 11:53am] Sorry for the typo - that should have been $3million (about £1.6million). It might have been guaranteed, but I'm sure you must have read that Prince still hasn't paid it?! Regardless of the court order. So, actually he is holding that money back! How is he not? He hasn't paid it! And its not separate at all, just because its about different types of debt. The fact is its still well over $3million dollars that must come out of Prince's bank.....it will come out of that interest earning account at the last possible moment, I assure you. [Edited 3/26/10 12:00pm] [Edited 3/26/10 12:02pm] Typos like that tell a lot. I'm not sober right now, but I still won't make a typo like that lol ... Anyways your ?: NO, I haven't read that news so SHARE THE LINK PLEASEE because it hans't been psoted here at least. however, if its true and he still hans't paid the croke park organisers, I can ASSURE YOU that interest rates on that debt are only going to go way , way, WAY up. Yes, I do mean WAY up. Not just by interest, but also by increases up to possibly 50% by the court no that aint no joke so this has nothing to do with "net interest spread", | |
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NO
[Edited 3/26/10 20:23pm] | |
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If P goes to prison will he still be allowed to wear his heels? | |
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^^No, they're considered martial weapons on the wrong hands, erm.. feet..
Seriously, do you really debate this? Look, the 3.000.000 he's said to be paid is a traffic ticket for somebody making 5 millions with a 90 minutes performance. The thing is, i'm quite sure you guys think about this a lot more than P himself does, actually. The bills get sorted by a crew of somebodys who themselves are making more money with it than probably 98% of all .org members will ever earn in their lives, and they will tell P that there's "a certain problem", getting the answer to "solve it". Dang, we're talking superstars here. If you really think $ 3 million is a serious amount of money for somebody with his history, think again, please. Only reason we even get to know about it is because people think it's an issue and therefore newspapers are reporting on it. Making people go "woo-la-la, he's in serious problems".. there you got something to talk about, buy and pay the damn newspaper, feed the ones who make and sell the damn newspaper, and that's it. Not an issue at all for the ones actually involved. | |
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Unless you guys share his name too, why be worried about HIS PERSONAL finances?
Unless Brotha is cuttin checks, he is MORE than welcome to issue some WellsFargo payments this direction.
I'm just saying A) Don't stress of over his Certificates of Deposit And B) Trust me, he can afford to buy us all.....Twice Why You Jive Turkey You.... | |
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Tremolina said: Mindflux said: Sorry for the typo - that should have been $3million (about £1.6million). It might have been guaranteed, but I'm sure you must have read that Prince still hasn't paid it?! Regardless of the court order. So, actually he is holding that money back! How is he not? He hasn't paid it! And its not separate at all, just because its about different types of debt. The fact is its still well over $3million dollars that must come out of Prince's bank.....it will come out of that interest earning account at the last possible moment, I assure you. [Edited 3/26/10 12:00pm] [Edited 3/26/10 12:02pm] Typos like that tell a lot. I'm not sober right now, but I still won't make a typo like that lol ... Anyways your ?: NO, I haven't read that news so SHARE THE LINK PLEASEE because it hans't been psoted here at least. however, if its true and he still hans't paid the croke park organisers, I can ASSURE YOU that interest rates on that debt are only going to go way , way, WAY up. Yes, I do mean WAY up. Not just by interest, but also by increases up to possibly 50% by the court no that aint no joke so this has nothing to do with "net interest spread", You're quite unecessarily obnoxious and self-righteous really. Pontificating over a typo (how pedantic) then, after pompously claiming you're too perfect to make a typo you write "psoted"!!! Would you like a fork for that humble pie? The news about him not paying the court order is on the front page. Do you really need a link to that? The fact remains, all of this is just speculation as to why the amounts remain unpaid and, at the end of the day, it has no bearing on us at all. ...we have only scratched the surface of what the mind can do...
My dance project; www.zubzub.co.uk Listen to any of my tracks in full, for free, here; www.zubzub.bandcamp.com Go and glisten | |
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Mindflux said: Tremolina said: Typos like that tell a lot. I'm not sober right now, but I still won't make a typo like that lol ... Anyways your ?: NO, I haven't read that news so SHARE THE LINK PLEASEE because it hans't been psoted here at least. however, if its true and he still hans't paid the croke park organisers, I can ASSURE YOU that interest rates on that debt are only going to go way , way, WAY up. Yes, I do mean WAY up. Not just by interest, but also by increases up to possibly 50% by the court no that aint no joke so this has nothing to do with "net interest spread", You're quite unecessarily obnoxious and self-righteous really. Pontificating over a typo (how pedantic) then, after pompously claiming you're too perfect to make a typo you write "psoted"!!! Would you like a fork for that humble pie? The news about him not paying the court order is on the front page. Do you really need a link to that? The fact remains, all of this is just speculation as to why the amounts remain unpaid and, at the end of the day, it has no bearing on us at all. Thank u Mindflux, U really put Tremolina in his/her place!! haha...oh and about the whole post...: "Money dont matter tonight, it sure didn't matter yesterday" "Its flier to B hungry than fat" | |
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SquirrelMeat said: erik319 said:
His new album tracklist has been released: 1. Money Does Matter 2Night 2. Love or Money (Money Please) 3. $$$ 4. 77 Beverley, park the car over there on the street, we can't afford the multistorey. 5. I wanna B your Lawyer 6. When I lay my hands on Ur credit card details 7. (Brother Can U) Spareadime 8. Anotheryearsubscriptionchargesizedholenyowallet 9. Rip U Off
What if he doesn't pay his taxes? Old Friends for Jail Glam Slammer Cell me how you wanna be done? 3 Chains o Steel B-sides? Outtakes? Repossessed Evicted City 17 Days (the court has ordered, and I must choose...make the wrong choice and I'm wearing county blues) Trust When 2 R in Debt Now (Pay Me remix) Paisley Park Bench I'm sick and tired of the Prince fans being sick and tired of the Prince fans that are sick and tired! | |
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Tremolina said: Mindflux said: Sorry for the typo - that should have been $3million (about £1.6million). It might have been guaranteed, but I'm sure you must have read that Prince still hasn't paid it?! Regardless of the court order. So, actually he is holding that money back! How is he not? He hasn't paid it! And its not separate at all, just because its about different types of debt. The fact is its still well over $3million dollars that must come out of Prince's bank.....it will come out of that interest earning account at the last possible moment, I assure you. [Edited 3/26/10 12:00pm] [Edited 3/26/10 12:02pm] Typos like that tell a lot. I'm not sober right now, but I still won't make a typo like that lol ... Anyways your ?: NO, I haven't read that news so SHARE THE LINK PLEASEE because it hans't been psoted here at least. however, if its true and he still hans't paid the croke park organisers, I can ASSURE YOU that interest rates on that debt are only going to go way , way, WAY up. Yes, I do mean WAY up. Not just by interest, but also by increases up to possibly 50% by the court no that aint no joke so this has nothing to do with "net interest spread", I love you man. Drunk posting and shit...
  If prince.org were to be made idiot proof, someone would just invent a better idiot. | |
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For fuck's sake. Now everybody thinks they're a fucking accountant???
We've already got too many wannabe lawyers that don't know shit about the law, but every time there's a legal story about Prince here, people think they're fucking Johnnie Cochran! None of us know anything about Prince's financial situation, and for us to sit here and speculate is just idiotic. Here's an idea, how about actually waiting for the whole story to unfold instead of pulling your hamstrings by jumping to conclusions! JERKIN' EVERYTHING IN SIGHT!!!!! | |
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If he does he wouldn't be the first. But a few bad press releases never reveals the whole truth.
I'd be interested to know how much money he lost through investments that went bad in the credit crunch. "Free URself, B the best that U can B, 3rd Apartment from the Sun, nothing left to fear" Prince Rogers Nelson - Forever in my Life - | |
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squirrelgrease said: Tremolina said: Typos like that tell a lot. I'm not sober right now, but I still won't make a typo like that lol ... Anyways your ?: NO, I haven't read that news so SHARE THE LINK PLEASEE because it hans't been psoted here at least. however, if its true and he still hans't paid the croke park organisers, I can ASSURE YOU that interest rates on that debt are only going to go way , way, WAY up. Yes, I do mean WAY up. Not just by interest, but also by increases up to possibly 50% by the court no that aint no joke so this has nothing to do with "net interest spread", I love you man. Drunk posting and shit...
oh, Tremolina is a big drinker? well that explains a lot. "Its flier to B hungry than fat" | |
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lotusboy said: squirrelgrease said: I love you man. Drunk posting and shit...
oh, Tremolina is a big drinker? well that explains a lot. I didn't say that. If prince.org were to be made idiot proof, someone would just invent a better idiot. | |
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Paris9748430 said: For fuck's sake. Now everybody thinks they're a fucking accountant???
We've already got too many wannabe lawyers that don't know shit about the law, but every time there's a legal story about Prince here, people think they're fucking Johnnie Cochran! None of us know anything about Prince's financial situation, and for us to sit here and speculate is just idiotic. Here's an idea, how about actually waiting for the whole story to unfold instead of pulling your hamstrings by jumping to conclusions! FUNKNROLL!  "February 2014, wow". 'dre.  | |
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He would be very dumb to considering he has no crumb snatchers or babymama's to drain his fortune, only a string of ex- girlfriends and one ex wife. 
None of them got what it takes 2 B a future baby mama Gotta bend in the wind, but don't break 2 keep your man Show me 1 of them and I'll make her mine With no more drama Future baby mama  | |
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