OT: Smurf Turf Could Cost A Lion Exec His House

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August 22nd, 2012 at 11:35 AM
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CRex
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OT: Smurf Turf Could Cost A Lion Exec His House

In brief, five families in Oxford Michigan offered up their homes as collateral to help the local high school pay for smurf turf.  The school is coming up 300k short in terms of its ability to pay off the 400k loan, so now these individuals may lose their homes.  This includes Bill Keenist, senior VP for the Lions.

MIPrepZone Article On It

Hopefully no one gets evicted over smurf turf (I can't imagine Astroturf would want to get that kind of PR) and the school can pay it off.  Also, who puts their home on the block for smurf turf?  This isn't Texas people...

The Yahoo Article here lists Keenist as a donor, however the PrepZone Article is more informative otherwise.

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August 22nd, 2012 at 11:38 AM | And not only is this not (Score:5 Normal)
Run 2 Daylight
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And not only is this not Texas, it's Oxford. 

Go Blue!

August 22nd, 2012 at 11:39 AM | That's a lot of money for a (Score:5 Normal)
corundum
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That's a lot of money for a product that's ugly as shit.

August 22nd, 2012 at 11:40 AM | Although AstroTurf LLC made the loan (Score:3 Normal)
Blazefire
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They probably financed it through a bank themselves, so they probably don't really have a choice in calling it in. The bank don't care about bad PR.

"This is the EMU game, not the emo game."
August 22nd, 2012 at 11:43 AM | 300k short on a 400k loan?  (Score:5 Normal)
WolvinLA2
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300k short on a 400k loan?  Who ran the numbers on that one?

August 22nd, 2012 at 11:48 AM | Yeah... (Score:4 Normal)
French West Indian
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...and these people put up their houses as collateral?  WTF?!

Is there a contest for stupidest town in America?  Because I think we may have a winner here.  Actually, on second thought that is not right because the town turned down the idea of financing the football field so I guess that was pretty savvy of them.  Still, this is a pretty f'd up situation.

August 22nd, 2012 at 2:43 PM | I'm coming up with (Score:5 Normal)
FreeTheFabFivePlz
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33.33 repeating of course.

So hot.  Milk was a bad choice.

August 22nd, 2012 at 3:41 PM | I think (Score:4 Normal)
lbpeley
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the homeowners definitely pulled a Leeeeroy Jenkins.

August 22nd, 2012 at 10:29 PM | LLLEEEEEEERRRRROOYYY (Score:2)
DeathToTheBCS
Joined: 02/16/2011
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JJJJEEEEEEEENNNKIINNNNNNNSSSS!!!

Wherever you go, Go Blue!

August 22nd, 2012 at 11:54 AM | lol @ that conversation (Score:5 Normal)
death by trident
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Me: "Honey, can you come in here?"

Wife: "Be right there."

Me: "Hey, this guy on the phone is from the school."

Wife: "What does he want?"

Me: "He wants us to contribute to bright blue turf for the football field."

Wife: "Are they selling raffle tickets or having a bake sale?"

Me: "No, he just wants to use our house as collateral on their four hundred thousand dollar loan."

Wife: "..."

August 22nd, 2012 at 12:19 PM | I run a sales organzation and (Score:5 Normal)
mGrowOld
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I run a sales organzation and i want the guy closed this deal from the school on my payroll NOW!  Talk about a closer.....

 

 

August 22nd, 2012 at 1:03 PM | That guy gets coffee whenever (Score:4 Normal)
APBlue
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That guy gets coffee whenever he wants...for life.

August 22nd, 2012 at 1:08 PM | Your name's (Score:2)
Greg McMurtry
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Levine?

...confidence is the stain they can't wipe off...

August 22nd, 2012 at 11:57 AM | Just to be clear (Score:5 Normal)
PeterKlima
Joined: 08/24/2008
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They will not lose their homes because of the football field.  They will lose it because they are idiots.

You put a mortgage on your home without any clear way to pay it off?  And, a mortgage for something that is completely unecessary.  I love sports and football, but you do not need to risk anything to install a new colored-turf for a kids' FB team.  It makes no sense.

 

The only thing I can think of is that these people thought they would get a bailout from somebody once the press picked up the story.

 

I don't think they deserve a bailout.  Morans should live with their mistake and teach their kids accountability.

August 22nd, 2012 at 12:00 PM | Moran? (Score:2 Normal)
dayooper63
Joined: 06/30/2008
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Moran?

Tradition is something you can't bottle.  But it is there to sustain you when you need it most.  I've called upon it time and time again.

August 22nd, 2012 at 12:02 PM | (No subject) (Score:5 Normal)
joeyb
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August 22nd, 2012 at 11:27 PM | the irony! (Score:1)
thereverend
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the irony!

"I give credit to God, first and foremost" - Denard Robinson #16

August 22nd, 2012 at 12:01 PM | I believe you mean "teach (Score:5 Normal)
joeyb
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I believe you mean "teach their kids accounting".

August 22nd, 2012 at 12:02 PM | Hey! What do you have against (Score:1)
Swang on These
Joined: 01/25/2012
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Hey! What do you have against Morans?!

I apologize about the dress code, sir, but my next party is a hayride

August 22nd, 2012 at 12:04 PM | ...this is who I am referring to....proud Oxford resident. (Score:5 Normal)
PeterKlima
Joined: 08/24/2008
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August 22nd, 2012 at 12:04 PM | Maybe they could- (Score:2 Normal)
O Fo Sho
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throw a quick golf scrammble this Saturday and rake in $2,200 for the cause!  Wow, what morons!  You can't blame them for wanting to help their school out, but you can blame them for being ignorant.  These are decisions that smart people wouldn't have made.....

O-Fo-Sho

August 22nd, 2012 at 12:27 PM | Why were they so desperate to (Score:2)
snarling wolverine
Joined: 12/14/2011
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Why were they so desperate to get this field installed?  What were they playing on before, asphalt?

On another absurd note, apparently Boise State has copyrighted the phrase "blue turf."  Really, Boise?

 

August 22nd, 2012 at 12:27 PM | No, it's not that (Score:2 Normal)
Blazefire
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It's just that the coach has a crippling fear of the color green. Something to do with Oscar the Grouch being mean to elmo when he was little. I don't have the details. Anyway, he always liked Grover.

"This is the EMU game, not the emo game."
August 22nd, 2012 at 12:27 PM | FWIW A few years ago my uncle (Score:3 Normal)
wile_e8
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FWIW A few years ago my uncle told me about how they had turf installed at a school where he was superintendent. Apparently it was cheaper in the long run - the high upfront costs were more than offset by the lower costs for upkeep (watering, mowing, paying someone to do all of that, etc), and it held up to repeated use by multiple sports much better. So it could be a money saving plan once you figure out how to pay those upfront costs.

August 22nd, 2012 at 12:10 PM | Bad move (Score:5 Normal)
Tater
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I know the economy is bad up there, but it takes five homes for collateral on a 300K loan?

 

 

 

August 22nd, 2012 at 12:14 PM | Probably... (Score:1)
PeterKlima
Joined: 08/24/2008
MGoPoints: 1424

... spread the amount in small chunks over different homes.  In fact, could "Astroturf" foreclose when the primary mortgage is held by a bank?  Wouldn't the sale proceeds go to the bank first?  I am not so sure they are at a realistic point of losing their homes.  Bummer.

August 22nd, 2012 at 12:19 PM | Dave Ramsey (Score:5 Normal)
ChosenOne
Joined: 09/17/2010
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Does not approve.

HE16MAN

August 22nd, 2012 at 12:29 PM | my wife teaches at oxford hs (Score:4 Normal)
davking1980
Joined: 06/11/2009
MGoPoints: 56

this was actually done outside of the actual school district. once the voters turned down the bond issue, the school dropped it and it was actually the sports booster club that undertook and did the financing for this.

obviously the school had to give its permission but the truly idiotic was done by non-school district people.

i would bet you'll see a large donation made by the detroit lions charitable foundation then an 11th hour refinance of the remaining portion of the unpaid amount, too much bad pr all around for the bank to just take peoples houses for something that "benefitted the kids", regardless of how monumentally stupid these peoples initial decision was.

August 22nd, 2012 at 2:05 PM | What (Score:5 Normal)
ShockFX
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A 400k loan with a 1 year duration? What was the revenue stream to pay this back? Bake sales? How do you end up 75% short?

Figures a Lions' exec would be involved.

August 22nd, 2012 at 7:29 PM | so.... (Score:2 Normal)
MSHOT92
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You have a VP with a professional sports team that is afraid of losing his home over a piddly $400K? Really? so, what's the league minimum salary in the NFL? JUST....curious. =)

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