maybe it's better if you don't win the lottery (??!)

**niky** · February 21st, 2006 03:22 PM

The problem is, most people who win instant money automatically spend it on their heart's desires, without thought to how much money they'll have to spend in paying the upkeep of those purchases.

Plus the fact that the person most likely to win the lottery would be a compulsive gambler and/or spender. Buying a lottery ticket is compulsive/reckless behavior, now, isn't it?

If I'd won that much money, I'd probably set aside 1-2 million pesos for myself, and stick the rest in a portfolio of high-stability, low-yield bank and time deposits, and maybe gamble 1 million or so in high-yield loans or stocks.

Originally Posted by ghosthunter

good thing I am 2nd gen...

Ansuwerte mo... you guys always get all the money! :lol: Us third-gens get hand-me-downs, family squabbles, and sell-offs to rich Chinese businessmen. (knocks on wood...). Second gens are usually still close enough to the core of the business and the founder's vision to maintain it, but any mistakes they make (and they always make mistakes) will carry over and be amplified by the third generation, who won't have the mitigating factor of family closeness to prevent business squabbles.

Wait, second gens fight a lot, too... but it's usually still controllable.

**boybi** · February 21st, 2006 09:09 PM

Originally Posted by niky

The problem is, most people who win instant money automatically spend it on their heart's desires, without thought to how much money they'll have to spend in paying the upkeep of those purchases.

Plus the fact that the person most likely to win the lottery would be a compulsive gambler and/or spender. Buying a lottery ticket is compulsive/reckless behavior, now, isn't it?

If I'd won that much money, I'd probably set aside 1-2 million pesos for myself, and stick the rest in a portfolio of high-stability, low-yield bank and time deposits, and maybe gamble 1 million or so in high-yield loans or stocks.

Ansuwerte mo... you guys always get all the money! :lol: Us third-gens get hand-me-downs, family squabbles, and sell-offs to rich Chinese businessmen. (knocks on wood...). Second gens are usually still close enough to the core of the business and the founder's vision to maintain it, but any mistakes they make (and they always make mistakes) will carry over and be amplified by the third generation, who won't have the mitigating factor of family closeness to prevent business squabbles.

Wait, second gens fight a lot, too... but it's usually still controllable.

i wonder what will happen to the grandchildren of Henry Sy, Lucio Tan and Gokongwei.

**number001** · February 21st, 2006 09:35 PM

Originally Posted by boybi

i wonder what will happen to the grandchildren of Henry Sy, Lucio Tan and Gokongwei.

Same route as the Rockefellers, Carnegie, etc...

Have you heard of Yutivo? Well they used to be the dealer of Chevys, etc and other big businesses. Their name has the cachet as a Gokongwei, Sy, Tan, Ty as today. Today, the descendants are still around, but not in the same magnitude as their heydays. They still have a hardware at downtown (chinatown) at dasmarinas st., quentin paredes st.

Let's face it, when one finds his/her comfort zone, they tend to lose the motivation to fight and swallow the bitter pill like the way their forefathers did before them. There's a famous saying, the first generation builds, the second generation maintains, the third generation ruins. Sad, but not to wish the descendants of Taipans today, they will never live up to the same standards and accomplishments as their forefathers.

**Flagg** · February 21st, 2006 09:36 PM

Why not finance Glenn Castillo's water burning engine?

**niky** · February 22nd, 2006 12:32 PM

:lol:

That's why we want to do an Ayala. Once the corporation outgrows the capability of the family to run it, or the family outgrows the ability of the corporation to sustain it, the family is turned into stockholders, and all control of the company goes to outside professionals. That's how Ayala's fortune has managed to stay intact. But that's quite a ways into the future for us.

**BlueBimmer** · February 27th, 2006 06:43 PM

Eight meat plant workers claim $365 million jackpot

Three are immigrants who sought better life in U.S.

LINCOLN, Nebraska (AP) -- Eight workers at a Nebraska meat processing plant claimed the record $365 million Powerball jackpot Wednesday, each getting about $15.5 million after taxes.

The seven men and one woman, introduced by Gov. Dave Heineman, all work at a ConAgra ham processing plant near the U Stop convenience store where they bought the winning ticket for Saturday's lottery.

It was the biggest jackpot on record for any lottery in the United States.

"I didn't know what to think," said Robert Stewart, 30, who said he was a maintenance supervisor before the win. "I still don't know what to think." (Watch presentation of big checks -- 6:53)

The winning numbers were 15, 17, 43, 44 and 48, with a Powerball number of 29, according to the Multi-State Lottery Association of Des Moines, Iowa, which runs the game for the participating states.

At least three of the winners Wednesday are immigrants.

Quang Dao, 56, who like Dung Tran, 34, came to the U.S. from Vietnam about 16 years ago, said he was looking for freedom when he headed for America.

"After I hit the lottery, it also changed my family's life in Vietnam," he said.

Alain Maboussou, a 26-year-old who fled his war-torn homeland in Central Africa, said he planned to earn a degree in accounting now.

"It's too early for me to retire, but I did four days ago. I'm going to be working for myself now," Maboussou said. He said of his three-month-old daughter, Katherine, "she's going to be happy for the rest of her life."

"I don't think they have a reason to be jealous," Maboussou said of the rest of his colleagues, "because when it's a pool day, we ask people to put in five bucks. So if you wasn't there, or you didn't put five bucks in, sorry."

The other winners were identified as David Gehle, 53; Chasity Rutjens, 29; Michael Terpstra, 47; and Eric Zornes, 40.

The previous U.S. lottery jackpot record was $363 million for the Big Game, the forerunner of Mega Millions. Powerball's previous record jackpot, $340 million, was won by an Oregon family in October.

Powerball is played in 28 states, the District of Columbia and the U.S. Virgin Islands.

WOW ANTAAS NG TAX!