Oracle boss Larry Ellison is set to lose $4m on a Bay Area property in Woodside, south of San Francisco. The Real Estalker reports that Ellison spent $23m in November 2005 to buy two properties a mile away from his main Japanese-style country estate and quite near to Redwood Shores and the Oracle HQ. 1 Turkey Farm Lane 1 Turkey …
where's all the unbathed "99%" masses at this icon of conspicuous comsumption?
Nowhere near a large DNC supporter, obviously.
They're out in force in central San Francisco
And it's a well known fact that you're never more than two metres away from a large DNC supporter in San Francisco.
I don't know about in SF... SF has been pretty aggressive in shutting down any large gatherings of late. If you want to see "large" gatherings of the unemployed then go to San Jose or Oakland.
SF protests aren't that bad
y'all gotta realize that the"occupy" protest in SF is much smaller and less intrusive than the usual rabble rousing lot. Not nearly as bad as a monthly "Critical Mass" gathering.
SF is simply getting really good at managing these, and the people are getting really good at ignoring them.
But, to paraphrase another poster, you can't swing a dead cat and not hit some big DNC supporter-which is probably why the leadership behind Occupy SF has demanded and is enforcing a much more orderly gathering than the one at Wall Street. Don't want to risk collateral damage to allies.
According the the FEC, in the 2007-2010 period Ellison gave $26K to dems, $27K to independents, and $45K to the GOP.
Hardly a DNC poster child.
And actually pretty cheap, for a 4 year period considering his net worth.
Maybe we should give him, and all the rest of his fellow 1%ers, another tax break.
I'm sure they will create some more jobs – just like they've been doing for the last 10 years.
Re: Poor Larry
You mean he won't be able to use the 4 million as a tax write-off?
"The two comprise 6.88 acres and include a four-bedroom, three-bathroom, colonial style house, two five-stall barns and swimming pool. The properties were bought apparently to house Ellison's horses."
But they didn't like sharing bathrooms?
"suggests the big E has a net worth of $33bn"
probably not that big of a deal, then
"He has a huge amount of money invested in property" the article says.
(and then lists houses that probably come to 100-200million.)
Reading the subheading I thought he'd installed a $4million bathtub. I doubt he'd even notice $4million, whether it was in the bathroom or up in smoke.
Has anyone organised a charity concert?
Woz started work on an event for the "second homeless," but had to exclude E after the WSJ article.
Swings and roundabouts
You'd think with all that property he'd lose money on one or two, the property market is never perfectly stable (fnarr fnarr) at either end of the scale.
It's a bit of a non-story if the rest of his "property portfolio" has collectively appreciated by $50m in the same timeframe.
As others pointed out though, it's a drop in the ocean for ol' Larry even if the whole lot were to go up in uninsured smoke.
So Larry lost 20% of the value on SF Peninsula home he bought in 2005?
Thats at the low end of average for the last 6 years for lost home value on in SF or on the Peninsula. The fact that Woodside is pretty upscale is probably why.
Next week, El Reg writes about what Susan in Oracle Product Marketing lost selling her condo in Belmont!!
Stop the Presses!
Another Reg scoop: Real estate has lost value in California, although it doesn't matter to the subject of the story.
While at least this time there is a (vague) IT tie-in, it sure strikes me as a "dog bites man" story.
One Rich Asshole Called Larry Ellison
Its all in the address
Surely he knew when he bought the place it was a turkey. And, not just any turkey but a number 1.
Wasn't that the house that Katherine Wentworth killed Bobby Ewing in front of?
thank fuck for explaining that. for a moment i thought larry had bought a house in the kyoto near middlesborough and wondered why he'd do that.
What a nice house, I think I'll buy it...aww the bathroom has been used? I no longer want it.
Oohh, let me play too?
Oi Railly Ait Conts Loik Em
What it lacks in grammatical correctness, I hope it makes up for in small-minded bigotry.
Any day now, we shall find out that Larry's parents came from the Ol' country.
(I'm half Irish btw, I'm a Welsh man that can't swim)
Let's all sing now, to the tune of 'Riders On The Storm': Larry's dad was black, Larry's dad was black, He's never coming back, Humped whores outside the back, And emptied his ball sack.
That on reflection is too cruel. It shows the mark of a bitter man. And Larry may be many things, but he is not bitter. Then again, would you be with his fucking cash?
Nurse is coming soon - she fucking better be - I'm nearly all out!
yes I was imagining a 22k gold tub with diamond set facets and a special version of the Top Gear V8 blender to power the whirlpool
$4m out of $33bn is the equivalent of someone who has $33k losing $4. Pretty sure he's not losing any sleep over it.