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California I.O.U.'s have hit home -- ugh!

Posted Jul 10th 2009 6:00PM by Sheldon Liber (RSS feed)
Filed under: Other Issues, Bad News, Management, Rants and Raves, Scandals, Politics, Headline News, Recession, Financial Crisis

It was bound to happen. It is probably unavoidable for anyone to escape the cloud of California I.O.U.'s. Today one of my investment partners informed me that we received an I.O.U. from the State for space they lease in an office building where the State is one of the major tenants.

I'm sure our lender will be more than happy to take the I.O.U. instead of our regular mortgage payment -- for now -- maybe.

Continue reading California I.O.U.'s have hit home -- ugh!

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