And property taxes keep rising. Our State Supt. Of Schools oversees a 9.5 Billion Dollar Budget but can’t balance her own personal budget and must file bankruptcy. The State School systems would also be bankrupt if weren’t for governments ability to just raise property taxes on everyone. When you don’t have to make a profit, its easy to keep spending. Kathy Cox and her husband just learned that in the real world you have to keep income and expenses in line. The Fayette BOE needs to learn that lesson too. They keep raising property taxes like there’s no end to how much all of us serfs can pay.

This is sad that she won that money and now is filing bankruptcy. If if weren't for those who unfairly criticized her for going on the game show she might have kept the money they her family obviously needed. Her position should not have been an issue in going on that show. She represented Georgia very well. Yes, it was admirable to have donated the money and she should do some, but she should have been able to keep some of it without the idiots out there telling her it was inappropriate.

Gifts and transfers made within 90 days of filing for bankruptcy are generally considered preference items which can be clawed back into the estate by the trustee in bankruptcy under federal bankruptcy law and possibly also under state law on fraudulent conveyances.

Thus it is likely that lawyers for the creditors will undertake proceedings to recover the $1 million that Kathy Cox so “generously” gave away, and the schools to which Kathy Cox made the gifts may well end up with nothing.

You MUST know that those contestants are required to sign over the money to charity before they are selected. Or, in some cases they are allowed to place it in a trust so that it can't be taken by creditors they owe!
Chapter seven allows you not to pay off any creditors fully and some none. You get to keep your home, car, clothes etc. life insurance, and other things, but those you owe millions do not get theirs first!

I guess I stand corrected, do none of the contestants get to keep the money they win?

Wasn't she recommending we all vote for the school SPLOST?

Quite a person to recommend we pay more, when Chapter 7 allows you to walk away from your debts, leaving someone else holding the bag.

The Cox bankruptcy was front-page news on the Atlanta Journal Constitution this morning.

We learned that the family had 11 credit cards, with debts ranging from $400 to $19,500 on a VISA card, and over $54,000 on an American Express Costco Business card. The Neighborhood Community Bank of Newnan, an 8-year-old friendly little bank with four offices and owned by local people, is on the hook for $732,776, and Heritage Bank, another local bank whose investors have lost 87 percent of their stock value since the first of the year, is owed $266,000.

This is sad all over.

There are many troubling details there, including the report that the family owns two 2008 motor vehicles, with loans on them of course.

One of the questions I have asked myself is whether it is OK to give a bunch of money to charity (or your church) and then stick your neighbors who own stock in local banks with a $3 million loss. These banks have no feelings, but they have owners and employees who do have feelings and families to take care of.

The dumbest of our Republican citizens will probably dismiss all the court proceedings coming up as frivolous lawsuits. Anything that does not affect them is always frivolous. But a lot more people are affected here than the Cox family.

It seems to me that it was a grave error in judgment for Kathy Cox to get on the Are You Smarter Than a Fifth Grader show in the first place, as she risked embarrassing the whole state. Fortunately for the state’s reputation, her gamble paid off. Her handling of the prize and of her family finances suggests that there were more grave errors in judgment on her part.

As a public official she oversees an education budget of $9.5 billion, so it is fair we should be concerned. She recommended we vote for the E-SPLOST a few weeks ago, and now we find out the recommendation came from a person whose financial savvy is at best limited.

They have a house that is worth $450,000 and property taxes are $2,357. Is this right? I paid almost that much and my house is no where near $450,000.
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No, it isn't correct.

Maybe he paid half of it only!
Maybe he is still on a "construction" value! Builders are allowed to do that!

I do understand their plight and why! No one, not even George Bush and Ben Bernanke or the fellow before him, Green, was it, wanted to admit this was coming!

They were conned into thinking there was no end to credit or advance.
In addition to bad business practice by them, 11 CCs, and "four banks." Heck the banks would loan bums thousands and then want a bail-out.

Please tell me this is a typo on the part of the ajc?

2 new 2008 cars?? I guess they had to get those before they declared bankruptcy. Good pre-planning. Buy new cars, load up the credit cards then DEFAULT on the whole mess and let other people pick up the pieces.

None of this seems "accidental". This is the picture of the typical greedy person living way beyond their means. This is an example why America is deep in debt and falling apart at the seams.

Please, please, please tell me this person is NOT responsible for educating anyone.

Not sure about the load-up part---must have happened over 2-3 years.
The cars and the "million dollars won" protected? Yes, I fear so.

You are gong to see much worse than this! People, unfortunately, in trouble, are bad!

Cyclist: I concur! My taxes were $1700 and my house appraised last year for $190K ... $40K off what we thought we had in equity. Appraisals were based on homes sold in the area the previous year - and, as everyone is dumping their house for whatever they can get this affects all of our property values. So... there went the notion of using our equity to pay off credit card debt. Maybe that was a blessing in disguise.

Sky: My husbands' truck is a '94 and paid for, my '02 Bonneville was just paid off in August...and I will drive it until the doors fall off. Besides, maybe having an American car will be a collectors item in the near future. As for our credit card debt...most of it was transmissions, brake jobs (4), window motors (2), intake valves, water heater (which flooded our laundry room), dryer, etc. Maybe much of our debt is indicative of what has been wrong with the American auto industry...inferior product!

It was a real pleasure meeting you all yesterday. My impression is that this blog site, unlike others, is not only a community but a family. I am honored to have been able to contribute and wish the best for Wulfman and his family.

I, too, hang on to my car for years. The only difference being that I now buy Hondas. I always bought American til my American made cars all seemed to have too many problems. My last American car was a Pontiac LeMans and the rear end went out when it was only a month or so old, electric windows wouldn't work, grease leaking out of tire rims,etc and the dealer and company refusing to permanently correct these problems. I then bought a new Honda, ran it for over ten years, sold it to my granddaughter who drove it back and forth to college and after four years sold it for a nice profit (it was still running great--hardly any repairs only maintenance). My current Honda was pruchased in '93 and still runs great--no problems--just maintenance. I bet I have not put two thousand dollars into this car since I purchased it new. The most expensive thing about it is yearly insurance payments. Keep thinking I should trade it in but don't want car payments and it is running great. Have friends standing in line waiting for me to sell it. AND, my car was totally made in Maryville, Ohio (or is that TN?). Most "American" car parts are usually made in Canada, Mexico or somewhere else and then assembled here. Would love to buy American, but can't afford it!

I don't believe in going into debt for things I cannot afford--I use credit cards for convenience and benefits (skymiles, cash refunds, etc) but pay them off each month. I resent all these people living way beyond their means and declaring bankruptcy and leaving you and me holding the bag. Bankruptcy should only be allowed when the situation could not be avoided--life threatening sickness, things that are unavoidable--owning more house than you can afford, big cars and lotsa toys is definitely avoidable!

I thought I was the only one who thought that amount of debt was crazy.

I have heard of people who have had to put hospital bills on credit cards, which is understandable. It's an emergency. This doesn't sound like that kind of emergency.

I love to spend as much as anybody, but wow....

There is a lot of lunacy out there. A dear friend of mine has incurred over 50K in debt - non secured loans. She spent her stimulus check on a pair of shoes. Yes! One pair of shoes - because that's what Sarah Jessica Parker wore in Sex in the City.

Meanwhile, my $7 Walmart purse has seen better days.

It is so easy to build up credit card debt. How did having credit card debt become sooooo fashionable?

I remember back in my granparents day it was something to be ashamed of .....how or why did we make this a "fashion statment"??

It's only recently that I would admit to my predicament. Pride seems to be a trait gone with the good old days. I had to spill the beans when I had hernia surgery 8 weeks ago and no one wanted me to get right back to work. My response was "I don't have time to be in bed. I owe people!".

The problem today is that ethics of ole are gone. The notion that a borrower must be frugal and that a man's (or woman's) word should be worth it's weight in gold is no more. See, I understand that credit card companies are to an extent evil, but the fact is that I signed up and knew about default rates and late fees. So, I can't blame them for my situation. The fact is I did sign up and in doing so gave my word that I would repay any debt incurred. So, I work 65 hours a week and keep my goals in sight so that I can keep my word and get out from under this albatross that I placed around my own neck.

I don't know why debt has become so fashionable. I guess it from the 'gimme' generation. Like I've said before, too many young people just starting out don't want to struggle the way their parents did. They want what took my folks 40 years to acquire.

But I do know that this credit crunch we're in should go a long way to reshaping how people think and spend.

Your friend may be boiling and eating those shoes soon, that is if they are real leather.

btw - who was at the Wulfman donation gathering yesterday? One day I will get up enough courage to attend... I guess I'm still being cautious after the muddle thingy.

There was myself, Cyclist, Hutch, Skyspy, and Diva. I really enjoyed them all. Would love to meet with you sometime. I was relieved that there was no political talk, as I am exhausted from it all and really just want to move on.

You're right, my friend will be eating those shoes soon. I've known her since we were 10 years old and she's always been spoiled. You can only blame so much on parenting, after that...you have to learn to be a grown up. She's truly a wonderful person. She's just clueless!!!

dawn, hutch, skyspy, diva, and a fat bald guy.
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It was a pleasure meeting you also and thanks so much!!!!

There nothing like fine American iron.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

I know...my next vehicle will have four legs and a horses' ass. I hear their up keep is expensive but the gas is cheap.

On four legged critters and the "gas" to keep them running. Their Gas, "Feed" along with the liquid stuff has almost doubled. You know all that ethanol they're making up in the Midwest, well, instead of the grain(corn) being used to feed all the animals it goes to make Ethanol. I guess that includes us...your bread, butter, eggs, meat, chicken...all of those critters have to eat or they won't produce. This means higher prices at the Grocery for us and for that matter all over the world.
When ethanol started being produced, corn was cheap, then corn went up, then it wasn't as cost effective to produce. Now with Oil at $50.00 a barrel again it is not worth while making ethanol. So what are all the producers of this ethanol going to do...quit building more Ethanol plants and laying off people. Oh yea, corn has gone back down again. Supply and demand.
Unlike Gas Prices, our feed/grocery bills are still very high and I doubt very much if they get reduced anytime soon, if ever.

Oats were $7.00 or $8.00 for 50 pounds, now close to $15.00. All the feed I buy has almost doubled. Those who have critters domestic and farm have I'm sure noticed how much more they are paying for Feed/Food. Of course everything we buy at the Grocery stores these days have all gone up a lot or a few cents. The only thing that has come down is milk, that I have noticed.

I sure am glad I don't have a barn full of those hungry critters to feed. Now if only I could just get the spouse to eat Oats,Corn and pellets for breakfast, lunch and dinner, life would be so much simpler...

You bring to mind a question I have always had regarding ethanol. My paternal grandfather comes from Indiana - home of corn and Larry Bird. He grew up on a farm. Once when I asked why there wasn't corn on ALL the land, he explained that corn depletes the soil of nutrients and therefore crops have to be rotated.

So, my question is .... how effective is the production of ethanol? How much farm land would be needed to make a substantial difference as an alternative fuel? I guess the operative word here would be 'supplement' as opposed to 'alternative'.

Perhaps I'm showing my ignorance with this post, but if you can't ask questions - you can't learn.

Well, I guess if your starving anything looks or sounds good. Better than no oil at all but very expensive, in more ways than one. In Iowa, Illinois, Indiana, maybe some other states, all probably got the idea to make Ethanol when Oil prices zoomed up past $75 plus a barrel. Ethanol is not cheap to make and it takes lots of water to make it plus thousands of acres of corn. There were a few places making Ethanol before the oil crunch but then more company's decided to jump in. So now you have all these Ethanol company's demanding more corn so what happens corn prices go up from maybe(just guessing) $3.50 a bushel, up to $7/8 bushel. Not only Corn but Beans go up as well. The producers of the Ethanol now are not making the profits they thought they would because of the high prices they have to pay for the corn. The Farmers got record prices for their corn and beans but along with the now rising price of Oil, goes very high cost for fertilizer and gas for that gas hog of a tractor which is probably diesel. Corn and Beans don't produce much unless they have fertilizer. So all cost rise, the farmers gas to put in crops, on and on. So I don't think Ethanol is cost effective at all, to expensive to create. The production of Ethanol and the price of Oil created all the costs to rise in the animal feed and people food departments plus created a world wide shortage of feed/food. I don't know off hand how many bushels of corn it takes to make a gallon of Ethanol but I'm sure it would be easy to find on a google search.

The Question, I don't think we have enough land to make the amount of ethanol that we would need and not starve, not just us, but the World.
There are other ways to create Ethanol we should not use corn to do it except maybe as a last resort. We haven't reached that point yet.

Your Grandfather was right, crops should always be rotated. I believe that is what happened to the soil in the south, too much cotton and beans planted depleted the soil of nutrients. Garden crops should be rotated also, especially here in the South.

My job growing up on the farm was to feed all the animals and I picked up a few helpful hints along the way. There is nothing that smells better than earth turned over in the planting season at Springtime.

Technology has still not matched certain advantages of horses. My paternal grandfather had two farms in south central PA at the beginning of the last century. He had what was called a huckster route, where he would take his produce, cheeses, eggs, and other farm products and sell them in neighboring towns using a horse drawn wagon. He would of course visit with his Italian buddies, and share some of his wine, and they would share theirs. On the way back, he would lay down in the wagon and go to sleep, and since the horses knew their way home, the wagon would arrive back at the farm with my grandfather still sleeping in the back.

"I can't wait until tomorrow, because I get more lovable every day."

Horses never forget the way home. I remember years ago my neighbor told me to bring my horse down to munch on some of their pasture grass. I put her out in their pasture and left after a few minutes of watching her munch. A few minutes later as I was working out in my yard up the driveway my horse comes walking. She walks right up to me, like she was glad to see me. She had a few cuts on her and come to find out she had plowed not over the fence but right thru the fence. Lucky for her and me, it was not barb wire. My neighbor told me she picked out an area and took off running and just went right thru a brand new hog wire fence. Guess she wasn't about to stay in that strange pasture all by herself...she taught me a lesson that day. She knew the the way home and nope she wasn't ever leaving it, not alone anyway.

Hi carbon.

My last experience on horseback was 2 years ago in Dillard, GA.
I was riding a 2 year old pinto named Apache. He bolted on me twice, me yelling the whole way. Meanwhile, my daughter, who was riding a 20 year old mare named Lady, laughed the whole time. Didn't she know that I was a feared for my life!

fertilizer.
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With that fertilizer comes lots of weed seeds...weeds you never knew grew in the south...

That's it!!

That's why there's so much manure coming from Washington. All the horses asses there!!

Boy, we could light up the sky with methane couldn't we? Or, is that only from cows?

A blue flame.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

Yep, addicted to credit. I just wonder why they did not have a better buffer between the business and the personal household.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

That seemed kind of odd to me too. What happened to the other avatar?

The dead possum, Homer Simpson, trike guy, hypnotoad, or......

I've been changing my avatars since I can't change my hair style.

Soon, it will Santa on a bike.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

I still don't know how to attach an avatar.

I spent my education years as a true romantic....studying art, literature, history, etc... and never took the time to become computer savvy. Now I find myself a computer illiterate in a completely computerized society.

Even in my degree field, art, I have been left behind because I never learned any of the design software that the industry now requires. I am left alone with my paints and brushes.

I did; however, finally learn how to attach a smiley face.

It's easy. Step 1. Find a google image that you like and save in your "My Pictures" file on your hard drive.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

I loved hynotoad, but I know he was tooo much for some. I like Homer too. Who was the character on the bike this morning? I like the trike too.

I'll have to get more creative. Have a good night everybody.

at what age do y'all feel it is appropriate to tell a youngin' about the Santa story? 4th, 5th, 6th grade?

Sadly, this may be the year for us to spill the beans.

I can remember my oldest coming to me and saying there was no Santa Claus. I told her that was okay if she didn't believe but that Santa only brought things to those who believed. She suddenly decided she did believe! Don't know who was fooling who--The funny thing is that once an older sibling learns the truth they really work to keep the younger ones believing--at least that is the way it was in my house.
There are always kill joys in the neighborhood who are only too anxious to spill the beans. When my oldest was ready to admit that she was sure there was no Santa, I explained that Santa represented the spirit of giving and that should be something everyone believed in. Each year, my children and I would give up what would be spent for one gift for each of us and go buy gifts for someone less fortunate. They would choose the gift they wanted to give and wrap it themselves. I think they enjoyed this more than the gifts they received. During the years I was a single parent raising four children, there were times we didn't have a whole lot but our Christmas' were always special and my children learned to appreciate whatever they received. They carry on this tradition in their own nuclear families today.

I think my 11 year old daughter suspects that there is no Santa. She makes little remarks and rolls her eyes when the subject is brought up. Like your daughter, I don't think she's completely sure about the matter and doesn't want to take any chances.

On a different matter....I recently asked her if she's heard kids talking about sex and if she knew what sex was. Her response was shocking as she just started screaming 'Leave me alone!' , ran to her room, and slammed the door. After I explained to her that doors have hinges and can easily be removed, I realized that her response was an affirmative Yes.

Why can't we keep them innocent forever? I miss my little pig-tail girl. My husband says that I shouldn't obsess with mourning what she was, but should cherish what she is right now because all too soon these days will too be a distant memory.

They want to be wise and in the know, yet they want to hang on to childhood. How well I remember the rolled eyes and smirks. About the sex thing--if you haven't had 'the talk' now may be the time because you would not believe some of the misinformation they hear from their friends. Other kids who want to be cool will tell such silly things with such authority that the other kids will believe it is gospel. The sad thing is that it is so hard for kids to stay kids especially today--it breaks my heart to see children as young as six dressed in clothes meant for(or should be meant for) a 25 year old woman. I guess if parents would not buy them the stores wouldn't sell them. I just love to see a little girl dressed like a little girl--not like a Pop-tart. Guess I am more old fashioned than I thought I was!

My daughter was irritated with me because I would not allow her to wear a Halloween costume that showed her belly. NO, no, no !!! Little girls should not be showing their mid drift.

When she was 5, she wanted to enter the Little Miss Fayette pagent. She wore her Easter dress and no makeup with her hair pulled back with barretts. She was the only 5 year old girl in that pagent. The other children had hairpieces, fake eyelashes, and one was even getting her brows waxed. I was appalled! The other mothers smiled sweetly at my daughter, then looked at me with disapproval. The audacity! She has not been in another pagent since then. She prefers fast pitch ball.

Yes, I have explained to her that pretty soon her body will be changing and why. I hope she believes me that I have the answers to her questions - not her friends.

P.S. I originally had my daughters name in this post, but went back to delete it. Wouldn't want any retired CIA agent/ general / sex offender to be reading this blog. Isn't it sad that we have to consider such things to protect our children.

anywhere out there. You never know who is really a good person or not. Once you taught your child to go to a teacher,preacher, policeman or such for help. Now, on occasion, these are the very ones putting them in danger. So sad. I have teacher friends (female)who teach the really little ones and they tell me they are not supposed to hug them if they are hurt or just upset. It is a sad thing that the world has to be this way. You have to warn your child not only about strangers but about the people who are supposed to be their caretakers and even, in some instances, family members. Maybe all of this has always happened and the media has only brought it to the forefront but it has made it a much scarier world. Our loss.

Well, I am going to try to sleep. Fighting a bug they cannot pin down and it is truly getting me down! Keep the faith, you sound like a good parent--use you head and your heart. You know your child better than anyone. Good night.

Good night, MYTMITE. From one insomniac to another. I hope you feel better soon.

Wait till the kid backs you into a corner, then tell, let them believe as long as possible 'cause as you know, reality really bites. The hutchette was about ten when she found out.

I yam what I yam....Popeye

I sort of eased into it. They sometimes find out through friends. My oldest knew at 8 and then so did his brother who was two years younger.

I would say something about politics here but, I'll pass on that one.
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There was something on the ballot about using school money to invest in the building of new real estate or something to that effect. Now I find out this woman's husband is a developer?

I think people are not making wise choices as to who they elect. The person she replaced in office, as I understand it, is sitting in Federal prison for taking school funds and having a face lift is she not?

You might want to ask yourselves if your tax dollars are being spent wisely.

You are correct about the former face-lifter, etc. Also the Transportation department of GA has always had multi-millionaire people leave office with the RIGHT properties where roads will go.

Roads are a total "Old Buddy" department.

You don't want to talk about DFACS, do you? No, let's don't.

I'll just bet our insurance man (soon to be governor) owns a lot of "insurance!"

Now even old Sonny got some good land didn't he? Won't be any drinking water lake on it though--he doesn't need those.

Our GBI is a shame. Dummies run it, won't investigate anyone locally, and are totally political! Remember when our Chief of Poeleeze was investigating Tennis Center and chicken-out to the GBI?
GBI said, "solve your own problems!" It died and we paid.

Could go on, but who cares, really.

selecting a pig in a poke. You never know what you're getting. Kathy Cox is obviously not qualified to oversee a $9.5 Billion budget. Since government handles large public funds, we need to start asking candidate for office these questions.

Do you have an accounting background?
Have you ever managed a large budget?
Is your fiscal philosophy liberal or conservative?
What is the percentage of your personal debts to your income?

It has been my understanding for sometime that all of these new "local" bank startups in Fayette County sold almost all of their stock to the original organizers, as is usually done, and in sums large enough to discourage the average person participating, even if he were to be allowed to do so.

Of course the intent of starting a bank is to keep the quantity of stockholders to a minimum, hire "professional" start-up bankers to run the day to day business, build up the volume enough to attract the interest of a chain bank, then sell it for large profits as a going business.

All of that is now a big gamble. It didn't used to be---especially here. Many millionaires have been made in Fayette County by being the owners of "small" bank stock bought by chains.

I think the above is legal and certainly capitalistic.
The only part about it that is questionable to the majority of citizens is the part about the availability of the original stock to very few.

I must say the gamble failed in some cases and there are more to come, I'm afraid. Millions of bank stock holders in chain banks are now losing multi-millions of dollars.

If this situation doesn't teach us the value of careful "regulation" (there is that dirty word to conservatives) then we will continue to get caught making everyone suffer in the end for our greed.

You load 16 tons and whadda you get? Another day older and deeper in debt. Saint Peter, don’t you call me, ‘cause I can’t go; I owe my soul to the government store.

Come on baby let the good times roll, come on baby I want the spending of old, spend all night long… Come on baby raise my property tax, I can’t hear your pleas for my ear wax. Let’s splash around in the splost again, this party, ain’t never gonna end. Don’t matta what the taxpayers’ say, govment still gonna have its way. Come on baby let the good spending roll. It’s just thrills my soul. I’m gonna rave and rant ‘til I gets some mo govment grants. Come on baby let the good times roll…… again.

I’m dreamin of a sad Christmas, with every loan I default on, how can my days be merry and bright, with no more overspending in sight.

Till then….da..da..da.. I’ll dream of more credit cards, till then….da..da..da, when this depression come to an end, till then when I can spend, spend again, I’ll wait….till then….