It was an ordinary business lunch at an ordinary restaurant in the Town Center in Virginia Beach, mid-August 2006. For me, it was the closest a man gets to walking on air while eating a BBQ pork sandwich and onion rings at a Red-Star Tavern. Wachovia, in the form of a loan officer named Tom...
Tag Archives: toxic asset
How I Became a Toxic Asset and Survived!
My story was a harbinger of the destruction of the American capital system as it’s been known since the Reform Acts of 1933. Local and trade magazines have profiled my overnight descent from pillar of the community to toxic asset when the banking crisis imploded last year. I owned a fast-grown chain of high-end jewelry...
Healing in many forms
Triumph over Adversity was the name of the Virginia Business Magazine article in which I was named “Virginia Success Story” in 2006. Just two years later we were forced to shut down all seven stores when Wachovia retroactively called our notes in default. We were current in April when they called them, and we began...