Who Got Benjamins to Lend Me

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MudHog

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Really a cool story! Thanks for sharing it.
My family is from Vernon. That's where my dad was born and raised.
 
greybeard":15w542i9 said:
fenceman":15w542i9 said:
If you bought it , you would just wish you had something bigger. ;-)
Or, maybe he would decide he wanted the whole thing re-fenced and give you a call....
A place that big I don't figure cow can live long enough to make it to any boundary lines. :lol2: :lol2:
 
MudHog":3s01pm1x said:
I need enough for $725 million or who is placing their bid for the Waggoner Ranch going up for sale in Texas?

A Texas ranch featuring more than 1,000 oil wells, 6,800 head of cattle, 30,000 acres of cropland, and a tombstone for a horse buried standing up is on the market. You can get all this (and more!) for the cool sum of $725 million.

http://www.bloomberg.com/graphics/2015- ... -for-sale/


Article with pictures: http://abc13.com/realestate/photos-amaz ... on/732493/

Try the Catholic Bank well connected to the mafia they should be able to find that in loose change.
Don't be surprised if you commit suicide.
"God's Banker" Funded Terrorism and Civil War


Founded in the 19th century with the backing of the Vatican, Banco Ambrosiano's mission was to provide an alternative to secular banks, because we all know that the only person you can trust more than a banker is a high-ranking official of the Catholic Church. A mere century of holy deposits later, they were the second-largest private bank in Italy. More than a bank, actually -- they were a sacred institution. In the 1970s, CEO Roberto Calvi was known as "God's banker."


"We've decided to waive that overdraft fee rather than risk being turned into pillars of salt."

Surely, with a title like that, nothing could go terribly and ironically wrong ...

The Evil

God probably should've joined a credit union. Calvi used most of his time in charge of Banco Ambrosiano to launder the Mafia's drug money, bribe Italian and American politicians, and sell weapons to both sides of the Nicaraguan Civil War.
Sunday school songs feature "little children" instead of "violent Third World contras" for a reason.
Eventually, however, Banco Ambrosiano got too big for their own frock, and things started to fall apart. A 1982 investigation revealed that the bank could not account for around $1.3 billion in deposits. Keep in mind that, while today's banks blow that kind of cash on breakfast champagne and gold-leaf toilet paper, $1.3 billion in 1982 dollars was basically all of it. All of the money.

Even the Mafia got spooked by all the heat the holy bank was bringing. They started cutting both ties and the throats they were wrapped around: A high-ranking regulator was found dead in Corsica shortly before Calvi's secretary committed suicide, and Calvi himself was found hanging from Blackfriar's Bridge in London -- a death ruled a suicide until basic common sense and a 2003 re-examination uncovered that it was pretty definitely a murder.


We'll rule it whatever you want, just keep this **** between yourselves."

If any of this sounds familiar, it's probably because parts of The Godfather: Part III were based on the scandal. That's right: terrorism, death, embezzlement, war, sinister political machinations, AND The Godfather: Part III. Truly, Banco Ambrosiano is responsible for some of the worst tragedies known to man.
 
greybeard":37qcno0v said:
fenceman":37qcno0v said:
If you bought it , you would just wish you had something bigger. ;-)
Or, maybe he would decide he wanted the whole thing re-fenced and give you a call....

To far. I only travel for the big jobs.
 
fenceman":34spolul said:
greybeard":34spolul said:
fenceman":34spolul said:
If you bought it , you would just wish you had something bigger. ;-)
Or, maybe he would decide he wanted the whole thing re-fenced and give you a call....

To far. I only travel for the big jobs.


So your saying it would need to be cross fenced in order to make it worth your while? :shock: :shock:



I wouldn't even want to know what the payment would be on any kind of loan of that size. I'm guessing that whomever does buy the place is someone that doesn't need a loan. An article on CNN mentioned that a person's worth would have to be in the 7-8 billion to have a possibility at the estate as it would take that much money to afford the $725M.
 
Hadn't read the article, but I'm slightly familiar with the story. Didn't an heir, force the sale? If so, I feel sorry for the heirs who cared more about grass than cash.
 
Nothing I read stated why the estate was going up for sale and I have been wondering why an estate that has been in the family for 130+ years suddenly goes up for sale. I hope this isn't caused by family.

One article did state that only 25% of the mineral rights is part of the sale, so someone is still retaining 75% of the mineral rights.
 
MudHog":9zfsrm35 said:
Nothing I read stated why the estate was going up for sale and I have been wondering why an estate that has been in the family for 130+ years suddenly goes up for sale. I hope this isn't caused by family.

One article did state that only 25% of the mineral rights is part of the sale, so someone is still retaining 75% of the mineral rights.
Did you read the Bloomberg link that you yourself posted? It says
It's been owned by the same family almost as long as Texas has been a state. Last year, a judge in Vernon—a town of about 11,000, 13 miles north of the ranch—ordered a sale of the property and appointed Uechtritz and a co-broker to market it worldwide. The ruling of District Judge Dan Mike Bird ended more than 20 years of litigation between opposing branches of the Waggoner family who couldn't agree whether to liquidate the property or split it up among themselves.
and
The Waggoner family will retain 25 percent of the mineral rights in any sale, suggesting they believe there's petroleum to be found in the vast swath of the ranch that has not been explored.
 
Is the place the only collateral you will put up. Need to know before I commit. Just asking might need the Kubota and drum mower put up also to go with the land.
 
Should be on sale now with $45 oil and cheaper cattle prices than when they first listed it. :D

I know a guy who is tied up in a big family estate with land like that. He is technically an owner but can't do any thing out there. It's more like a corporation and he is a share holder.

In that case I could see liquidating my share and buying my own place. I'm very big on owning things for generations and keeping it going but at some point when you have to schedule with a manager to go to your own place, I'd be done. I would much rather get my own place and start some new history with my family and heirs.
 
ga.prime":2ovskgmq said:
MudHog":2ovskgmq said:
Nothing I read stated why the estate was going up for sale and I have been wondering why an estate that has been in the family for 130+ years suddenly goes up for sale. I hope this isn't caused by family.

One article did state that only 25% of the mineral rights is part of the sale, so someone is still retaining 75% of the mineral rights.
Did you read the Bloomberg link that you yourself posted? It says
It's been owned by the same family almost as long as Texas has been a state. Last year, a judge in Vernon—a town of about 11,000, 13 miles north of the ranch—ordered a sale of the property and appointed Uechtritz and a co-broker to market it worldwide. The ruling of District Judge Dan Mike Bird ended more than 20 years of litigation between opposing branches of the Waggoner family who couldn't agree whether to liquidate the property or split it up among themselves.
and
The Waggoner family will retain 25 percent of the mineral rights in any sale, suggesting they believe there's petroleum to be found in the vast swath of the ranch that has not been explored.


I did overlook the ruling portion of the article, thanks for pointing that out. :tiphat: I knew about the 25% and that part of my post wasn't a question and simply a statement, except for the curiosity as to who is retaining the mineral rights. I suppose the whole estate is retaining the remaining 75% of the mineral rights? If that is the case, then selling the property to me means nothing because there will continue to be heir feuds.



hurleyjd":2ovskgmq said:
Is the place the only collateral you will put up. Need to know before I commit. Just asking might need the Kubota and drum mower put up also to go with the land.

How about some long eared calves instead of the drum mower? :mrgreen:




Brute: good point. after so many years, the family grows so more and more people get their hands in the pot and I can see where that would cause problems. Still a sad thing to see go away after so many years.
 
MudHog":3u4duav2 said:
I did overlook the ruling portion of the article, thanks for pointing that out. :tiphat: I knew about the 25% and that part of my post wasn't a question and simply a statement, except for the curiosity as to who is retaining the mineral rights. I suppose the whole estate is retaining the remaining 75% of the mineral rights? If that is the case, then selling the property to me means nothing because there will continue to be heir feuds.
The Bloomberg piece says the Waggoner family is retaining 25% of the mineral rights. I take that to mean the buyer will own the other 75%. This gives the new owner/buyer a majority voting block. Under the new ownership this should mean, but maybe it doesn't, the Waggoners will have no say so in what or when minerals get sold or not sold.
 
One headline sort of explains the "why"
Showdown at Waggoner Ranch

It's second only to the King Ranch in size, and second to none in its history of drink, divorce, and dissension. For years, its two feuding clans have agreed on only one thing: They want to break up their vast eight-hundred-square-mile spread and close this chapter of Texas history.
- See more at: http://www.texasmonthly.com/articles/sh ... Cg7O5.dpuf
 

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