Stanford Financial - another LPGA/PGA sponsor in trouble

[kafka01]

Stanford is involved in the Stanford St. Jude Championship and the AT&T; National as far as the PGA Tour is concerned.

Further it hosts the new LPGA Stanford Financial Tour Championship (is this the replacement for the ADT Tournament?) and for both tours it hosts the charity program Eagles for St. Jude.

Just small headlines yet about the possible fraud, but LTCM and Madoff started out that way too....

http://www.bloomberg.com/apps/news?p...vR8&refer;=home

[Three Putt]

It's an 8 billion dollar problem.....Whooooops!

[Trav]

Stanford is involved in the Stanford St. Jude Championship and the AT&T; National as far as the PGA Tour is concerned.

Soon to be renamed the "SEC - St. Jude Championship."

Let's hope Vijay doesn't have a lot deferred payments due under his endorsement contract with them, and that he was paid in cash and not in the form of investments in their products.

[flanagan]

This will be a pretty scary chapter for that book they read to the kids.

[PEZGolf]

Soon to be renamed the "SEC - St. Jude Championship."

You are right. In this day and age, it is not "a contract is as good as the paper it is written on". Instead, a contract is as good as the money that is behind it, and whether it is real money, held in an escrow account or "money dependent upon cash flow, investment earnings, and potential growth of investable funds". In other words, take the money and run and forget "deferred growth and payments".

[Golf_Predictor_Guru]

Hold on while a grab a hankie.

Those poor pampered millionaires might not be able to line the pockets of their free pants as much in the future if this recession lasts.

[Shindig]

Hold on while a grab a hankie.

And the millions they raise for charities might be out the window too. Those millionaire orphans, those wealthy homeless, and those financially sound cancer patients might get your tears.