Wisconsin factory workers win $208M Powerball lottery

Comment #74

Just6ntlc — Sun, 13 Aug 2006 16:34:29 GMT

If they win it, congratulations to them. I hope they choose cash.

Comment #73

weshar75 — Sat, 12 Aug 2006 06:03:59 GMT

I think my ship is coming in tomorrow night and I will be taking the cash because I have to split the prize with someone else. Now if I had been the 208.6 million winner I think that I would have entertained the annuity idea but I still would have went with cash. For me it is because I want to have the money under my control so I can do what I want with the cash prize I get. Now all I have to do is get all six on the same line.-weshar75

Comment #72

chuck32 — Sat, 12 Aug 2006 05:35:27 GMT

Well, all you get is a LARGER annual payment that is part principle and part interest. You are correct that there are many options. You could give some investment company cash in exchange for an annuity stream - and you can set up an annuity stream in many ways. You could, for example set up a stream of interest only and still have the full cash amount back in X years. The company would determine their real interest earnings, keep their share, and pay you the difference.

But here we are... [ More ]

Comment #71

Iesha Kelly — Sat, 12 Aug 2006 00:26:45 GMT

what? that doesn't sound right.

well, it's still more money than they started out with =) so good luck to them, and congratulations.

Comment #70

KY Floyd — Fri, 11 Aug 2006 22:37:58 GMT

I can appreciate if you see it as a matter of semantics, but if the lottery buys me an annuity all I get is an annual payment. Some investment company will have principal that they use to generate the annual payment, but I won't have a dime in principal. That's the nature ofthe annuity option. The investment company gets the principal in exchange for promising the payments. If they do well with the investment they might still have some principal left after making the final payment, and if I'm c... [ More ]

Comment #69

chuck32 — Fri, 11 Aug 2006 16:37:05 GMT

Lotteries can get better prices from the big brokers than your average Joe, but probably not any better than any other big investment firm. The real secret is that the lotteries invest the cash amount BEFORE taxes. It's easy to be a financial genius when you start with nearly twice the cash to invest. <G>

Cash probably takes the most discipline, with a straight equal payout taking second place (since you would have to save and invest some every year to keep up with inflation). A graduated... [ More ]

Comment #68

Todd — Fri, 11 Aug 2006 14:04:55 GMT

Good points are being made on all sides here, which is what tends to happen when the unhelpful only take the cash option, no matter what mantra is taken out of the discussion.

Chuck32 makes some very good points about the annuity stream, and I would completely agree that the lottery has the clout and resources to come up with a much better annuity stream than anyone could get on their own (unless you happen to be Bill Gates).

KY Floyd also introduced an excellent point about keeping the

Comment #67

chuck32 — Fri, 11 Aug 2006 13:33:05 GMT

You do indeed get the principle with the lottery payment. They payout includes the interest AND the principle.

To do an apples/apples comparison, take the after-tax cash you end up with if you take the cash option and then go shopping. Go to an insurance company or other financial and ask what kind of guaranteed, graduated annuity stream you can set up. Then compare that to the lottery's income stream. Most people forget about inflation. Getting $50,000 a year is one thing now; quite... [ More ]

Comment #66

KY Floyd — Fri, 11 Aug 2006 06:25:04 GMT

You've done a perfectly good job of explaining it each of the several times you've explained it. Any confusion experienced by anyone isn't a reflection on you.

As far as the choice between investing 65 million myself or having the lottery invest 100 million on my behalf, I think you're overlooking one important detail. If the lottery buys me an annuity my annual interest income may be higher, but I don't have any principal. I get those higher payments for a period of time and then they stop... [ More ]

Comment #65

Coin Toss — Thu, 10 Aug 2006 16:12:29 GMT

chuck32

You just gave me the answer I've been looking for all along:

Then multiple winners could choose individually whether to receive a lump sum or get the larger amount spread over 30 payments, the lottery spokeswoman said.

That's what I was getting at.

Thanks.

Comment #64

chuck32 — Thu, 10 Aug 2006 14:39:12 GMT

I guess I'm not doing a very good job of explaining this. No, it does not have to be unanimous. One person can take the cash, one person can take the annuity. I'm guessing that you might think that the lottery already has all of the money in the annuity amount. It does not. The annuity is created with future interest earnings. The only thing that the lottery has is the cash amount.

The cash amount is first split among all of the winners (just in the lottery's head at this point, not act... [ More ]

Comment #63

chuck32 — Thu, 10 Aug 2006 14:19:35 GMT

Whoa! You read far too much into my small comments about how a person might chose to live. I am not so judgmental as to begin preaching about how a person has a duty to provide for college educations, straight teeth, a nice house, etc. As long as they don't ask my to support them, folks can live how they please, I say.

I am not aware of any press article that talks about how the NE lottery winners split their prizes. The press just does not cover that kind of detail. You could check it... [ More ]

Comment #62

CASH Only — Thu, 10 Aug 2006 13:54:40 GMT

In Texas, it's called cash value option , or CVO. There the wrong choice is AP.

Comment #61

Coin Toss — Thu, 10 Aug 2006 13:41:42 GMT

justxploring

It seems it's being assumed that if people all agree on a cash option (cv as you say), then some can get paid annually, thus annuity - but it sounds like this is being paid based on the amount of the cash value prize.

My poinst is, if someone is going to go for an annuity, why are they settling for cash value? This thread now has me thinking this might have actually happened to some poor slob!

I'm still pretty sure that when it comes down to which payoff a group wants from... [ More ]

Comment #60

justxploring — Thu, 10 Aug 2006 06:29:05 GMT

Psykomo - sorry I spelled your name incorrectly. Just noticed. I can't edit my post...too late! LOL

Coin Toss - I think you and I are saying the same thing, right? No group can claim a prize as both an annuity and a cash payment unless that state has an exception (some do) where more than one winner can receive a prize for one ticket. Let's forget the graduated annuity for a minute. If a group in GA bought a MM ticket and won $150M and 10 people won, each person would be entitled to rece... [ More ]

Comment #59

Coin Toss — Thu, 10 Aug 2006 06:10:31 GMT

Not trying to 'out' anybody. I'm just wondering why we'd never heard of one of these 'split' payoffs before.

This is what I was getting at: in your example above:

The two winners want different options. The $9 million cash is split. The cash guy takes $4.5 million in cash. The annuity guy gets $4.5 million plus interest (for maybe $10 million annuity).

OK- so the annuity guy - the annuity is based on the casah option value, even though it is an annuity - meaning that had... [ More ]

Comment #58

justxploring — Thu, 10 Aug 2006 05:52:02 GMT

Sorry I come off as confusing. I'll try again using your example.

Two people win. Two winning tickets. The prize if $20 million - I assume you mean $20 million annuity here. Let's call the cash $9 million - the amount that the lottery actually has on the day of the win. chuck32

Chuck, that wasn't the subject at all. I can't speak for Coin Toss or anyone else here, but from my point of view we were all talking about the Wisconsin winners, right? There was only ONE winning ticket. It... [ More ]

Comment #57

Todd — Thu, 10 Aug 2006 04:39:34 GMT

A game that goes head-to-head with MM? Sounds intriguing. I wonder if the two biggies coordinate their efforts a bit to make sure they don't go up against each other. I'm not sure if we'd find out all the scoop on that one in a public forum

Comment #56

chuck32 — Thu, 10 Aug 2006 04:07:28 GMT

Sorry I come off as confusing. I'll try again using your example.

Two people win. Two winning tickets. The prize if $20 million - I assume you mean $20 million annuity here. Let's call the cash $9 million - the amount that the lottery actually has on the day of the win.

The two winners want different options. The $9 million cash is split. The cash guy takes $4.5 million in cash. The annuity guy gets $4.5 million plus interest (for maybe $10 million annuity).

The cash guy g... [ More ]

Comment #55

weshar75 — Thu, 10 Aug 2006 04:06:49 GMT

I think that Musl should go ahead and make a game for tuesday's and friday's that I could play in Oregon. Since I moved to Eugene I am further away from Mega Millions in either direction. So another big jackpot game would be a game I would like to play in addition to powerball.-weshar75

Comment #54

chuck32 — Thu, 10 Aug 2006 04:00:08 GMT

There are a few states that only want to cut one check per winning ticket, but most will cut separate checks. WI has a law that it can only write one check, but they can get a court order to get the job done. Many lotteries see it as a customer service issue. MN has a policy of writing whatever number of checks it takes.

The math to set up cash and annuity options is really pretty simple. MUSL handles that part. Just divide up the cash and then use a winner's share of cash to set up an... [ More ]

Comment #53

Coin Toss — Thu, 10 Aug 2006 03:58:04 GMT

chuck32

If there are multiple winners, the share of either one is divided by the number of winning tickets.

Bingo. The number of winning tickets and a prize based on which amount, advertised jackpot or lump sum. Like I said, you know your stiff but you seem to be doing some bobbing and weaving on providing any specific example.

Let's say two people happen to have picked the winning numbers, they're goiing to share the prize. Call the prize $20 million for right now. One wants the lowe... [ More ]

Comment #52

justxploring — Thu, 10 Aug 2006 03:37:13 GMT

I see what both of you are saying, but I agree with Coin Toss. Many states won't even bother paying more than one claimant. That's why in most cases it's best to create a trust and appoint a trustee.

As far as choosing annuity vs lump sum, I know it can be mathematically calculated, but I'm almost willing to be the states won't do it.

Powerball has had groups of winners where some pick annuity and others pick cash.

Can you please post an example of this? I know that when there are... [ More ]

Comment #51

chuck32 — Thu, 10 Aug 2006 03:11:45 GMT

I guess I would answer it this way: what could be your payment as in Anyone want your payment as the annuity? You can also just say, Do you want the annuity option or cash option? There are two options offered. The Powerball website gives a cash number and an annuity number. The player picks one or the other. One is called CASH and the other is called ANNUITY. If there are multiple winners, the share of either one is divided by the number of winning tickets.

Part of the problem m... [ More ]

Comment #50

Coin Toss — Wed, 09 Aug 2006 23:09:44 GMT

chuck32, all

okay, let me try to rephrase this:

Not sure I understand the question. Anyone want what as the annuity?

When I say what as the annuity, I mean the $208 million (in this case) as oppossed to the cash option, which we all agree ain't going to be near $208 million.

Please follow along - I'm not doubting anything you've said here, and you obviously know your stuff, and it's agreed the lottery operates with the 'green energy' (cash) from the get go....

All that cons... [ More ]

Comment #49

Todd — Wed, 09 Aug 2006 17:16:46 GMT

That is actually pretty cool (from that geek standpoint ). I wish your server had an API so I could tap the LP quick picks generator into it.

For that matter, I wish the state lottery ticket machines would use a better QP generator, although I'm not sure if they could use something of that sophistication from either a financial or HAZMAT standpoint. I think the decaying radioactive material might be a problem on the store checkout counter.

Comment #48

CASH Only — Wed, 09 Aug 2006 16:32:42 GMT

I'm glad that HL is continuing to grow. I hope there will be a matrix change to create bigger jackpots, which in turn would entice more states-maybe even KY would dump Lose for Life.

Smoke detectors have Am 241 or something like that in them.

Comment #47

chuck32 — Wed, 09 Aug 2006 16:09:24 GMT

Oh, differences of opinion are good. Sometimes, even I can learn something <G>.

I hear ya on the real draw thing. I love the RNG's - but more from a techno geek viewpoint. The HL RNG is based on unpredictable radioactive decay. How cool is that? The machines are packed with Americium 241.

Comment #46

chuck32 — Wed, 09 Aug 2006 14:16:09 GMT

Not sure I understand the question. Anyone want what as the annuity? The question is Anyone want the payments as an annuity? The exact amount of the annuity cannot be known until competitive bids to purchase the best securities, but the lottery can come close enough for a winner to make a decision.

I think the confusion comes from the fact that everyone starts with the annuity amount (which, to be fair, is the focus amount for most lotteries and the press) and then tries to work back... [ More ]

Comment #45

Todd — Wed, 09 Aug 2006 14:12:23 GMT

Cash Only, Chuck32 is the one making making the most sense here, and it's obvious to anyone reading this that he knows a heck of a lot more about this topic than you do. If everyone followed your advice there would be a lot more stories about bankrupt lottery winners in the News section.

Chuck32, that's good news on a new HL state, although I wish the announcement was going to be that MUSL has decided to switch HL back to real drawings.

Comment #44

Coin Toss — Wed, 09 Aug 2006 14:08:13 GMT

chuck32

Here you say:

If the annuity is $208.6 million and if there are 100 winners, then each share of the annuity would by $2.086 million. The cash amount was $95.82 million so a cash winner's share would be $958,211.70 (to be exact since the cash amount, based on sales, is known). And if there are exactly 100 winners.

The lottery starts by dividing up the cash among all winners and then asks, anyone want that as annuity? If yes for some, then Powerball will buy go out to bid... [ More ]

Comment #43

chuck32 — Wed, 09 Aug 2006 13:59:57 GMT

Hawking? Which at least implies pushing a bad choice in a marketing envirnment? With all of the cash only propoganda out there, sometimes a little truth is needed.

The best option, as always, is probably somewhere in between. Lotteries can only offer two options under the tax rules and so they offer the two extremes - cash and a long-term graduated annuity. The best case for all winners would be to allow them to set up their own annuity stream (X% as cash; X% as annuity over X years... [ More ]

Comment #42

CASH Only — Wed, 09 Aug 2006 13:36:20 GMT

MA Megabucks is _still_ annuity only.

chuck32, you should stop hawking annuities, and concentrate on getting more MUSL members to join Hot Lotto.

Comment #41

chuck32 — Wed, 09 Aug 2006 13:31:38 GMT

We are making this Waaaay too complicated. Lotteries have cash. If the winners want the annuity, then the lottery invests the cash, pre-tax, and puts the cash and the interest earnings together to come up with the annuity amount (the amount paid over time).

The annuity is estimated based on current quotes but can't be known until bids to buy the securitites (which doesn't happen unless a winner wants the annuity).

OK, I guess it is complicated.

If the annuity is $208.6 million an... [ More ]

Comment #40

Raven62 — Wed, 09 Aug 2006 04:15:02 GMT

Rule #1 in Wisconsin: Don't Start a Lottery Pool! (It's too complicated

Comment #39

justxploring — Wed, 09 Aug 2006 03:57:56 GMT

Well that would be rule #1 if I ever started a pool. Everyone would have to agree that the group takes the cash or it gets too complicated.

Comment #38

Raven62 — Wed, 09 Aug 2006 03:17:20 GMT

From the PowerBall FAQ:

CAN INDIVIDUALS IN A GROUP CHOOSE CASH AND ANNUITY?

CAN INDIVIDUALS IN A GROUP DIVIDE THEIR SHARE UNEQUALLY?

An individual lottery may have rules about how they will pay a winner (how many checks; how many winners to process, etc.) but PowerBall can handle any request to divide the prize payments. We can divide the prize however the individuals in a group wish, including requests for cash or annuity. But again, an individual lottery's rules will apply and most lott... [ More ]

Comment #37

Coin Toss — Wed, 09 Aug 2006 02:12:24 GMT

OK guys, wait:

$208,000,000/100 Winners=$2,080,000 each

Those that want Annuity get: $2,000,000 Annuity

The winninng ticket is a (one) ticket.

The prize is either an annuity based on the advertised jackpot, in this case, $208,600,000 or cash option of 42.6% of the advertsied jackpot. (I think I've read that here, 42.6%).

So wouldn't cash option be based on $88,608,000, not the $208 million?

That would give us $88,608,000 / 100 winners = $ 886,080 each, not $2,080,000 e... [ More ]

Comment #36

chuck32 — Tue, 08 Aug 2006 18:20:10 GMT

The WI Lottery will offer each winner the choice to take cash or annuity. Basically, you first split up the cash for each winner ($958,211.70 if there are 100 winners) and then, for those that want the annuity, Powerball will go to competitive bids for the securities to fund those who want the guaranteed, graduated annuity (perhaps $2.086 million). Powerball will use the full cash amount, BEFORE any taxes are taken out to buy securities to fund the annuities. The annuity winner then pays taxe... [ More ]

Comment #35

petergrfn — Tue, 08 Aug 2006 17:59:47 GMT

If I remember correctly wasn't there a large Powerball jackpot winner their in Wisconsin in the late 90's? I'm trying to search for the story but I can't remember the guys name. He was from chicago. I think it was one of the largest jackpot's at the time. The ticket was purchased for him by a bartender (mabey) I don't recall and he was suppossed to split it but I remember stories of him giving only $1million each and keeping the rest. Anyone know the guy I'm talking about... [ More ]

Comment #34

Raven62 — Tue, 08 Aug 2006 14:13:21 GMT

$208,000,000/100 Winners=$2,080,000 each

Those that want Annuity get: $2,000,000 Annuity

Those that want Cash get: $1,000,000 Cash (before Taxes)

If you want the exact $ Values you need to apply the PB Algorithm

Comment #33

Coin Toss — Tue, 08 Aug 2006 13:37:29 GMT

Interesting thread....in this or the other one about this jackpot someone mentioned some of these people might take the cash option, and some an annuity, is that possible?

I thought lottery payoffs were one or the other.

Wouldn't they have to be one or the other, as the cash option reduces the jackpot amount

Comment #32

DoubleDown — Tue, 08 Aug 2006 13:04:06 GMT

With that many in the pool I guarantee that there will be at least one or two that will say they have been in it all along and were absent that day, out of town, etc...

Comment #31

Raven62 — Tue, 08 Aug 2006 12:30:07 GMT

He(They) would be thinking: I(We) should have joined that pool! LOL

Comment #30

starchild_45 — Tue, 08 Aug 2006 09:41:05 GMT

wait until the lawsuits start. there will be i know i put my money in the pool or so and so was supposed to do it for me.

Comment #29

numerals — Tue, 08 Aug 2006 04:53:25 GMT

WOW!!!!!!!!!!! thats a lot of cheese, how about a crumb for the.....

congratulations to all the cheese, i mean all of them.......

Comment #28

justxploring — Tue, 08 Aug 2006 04:46:33 GMT

I'd love to have $600,000 net. However, I agree that if the winners are young and have families, they will still want to keep working. So what's wrong with that? I'm not saying I could do it, but if I were 25 or 30 and smart enough not to go wild with the money, it would be better to invest it safely and let it double every 10 years and retire early. It all depends on whether or not a person needs instant gratification or can look beyond today. Even if someone continues to work for just 10 or 1... [ More ]

Comment #27

markp1950 — Tue, 08 Aug 2006 03:40:27 GMT

Yeah, they have all the cheese, and all I have is the whine... :-(

Plenty of whining here... :-)

MarkP

Comment #26

markp1950 — Tue, 08 Aug 2006 03:37:31 GMT

Here is a partial list of tickets won at that store...

6.? mil megabucks

$250,000 supercash

$250,000 supercash...

a couple of Badger 5's.... $80K and some more...

208 mil PB...

plus others...

MarkP

Comment #25

markp1950 — Tue, 08 Aug 2006 03:33:24 GMT

I agree, If I would make say $500K after takes, I'm INSTANTLY retired...

I would be instantly making my living day trading...

SCREW WORK!!!!!

1 number off of 1/2 million $$$$ tonight :-( Sniff sniff...

MarkP

Comment #24

markp1950 — Tue, 08 Aug 2006 03:26:15 GMT

I *was* going to go to Fond Du Lac, but an appointment was an hour late and I was too busy to go. I WOLD havegone to that store like I have done it about 15 times before.....

And then tonight my Illinois Little lotto ticket was 1 number off tonight, so instead of getting $490,000 I get $100.... So close yet so far... :-(

MarkP

Comment #23

whodeani — Tue, 08 Aug 2006 03:05:27 GMT

One thing the story didn't mention is Phil Moses, the owner of Ma Pa's, himself has won a jackpot from his own store. It was last year or the year before he bought a Badger 5 ticket from his own terminal. He won a jackpot I want to say was around $140,000. Not sure exactly but is was somewhere around there. It defies logic but this store sells a lot of winning tickets. Oh yeah, forgot to mention. Moses also got an additional $2500 for selling that ticket.

Comment #22

psykomo — Tue, 08 Aug 2006 03:03:20 GMT

Whey.............to gooooooooo

factory chee$$$$$e worker$$$$$!!!!

(pass the chee$e.......please.......for a PICK-5.........)

We got the cracker$$$ down here!!

LOL...(is it really true......Yaw'aalllllll ......got the ticket now?)

PSYKOMO

Comment #21

LckyLary — Tue, 08 Aug 2006 00:30:07 GMT

After all the dividing and taxing, they should still have plenty enough to buy one of those Wisconsin state quarters with the extra leaf on the corn.

Comment #20

LottoLin — Mon, 07 Aug 2006 22:59:48 GMT

I'm from Wisconsin and unfortunatley not one of the winners LOL. Because it's one ticket they all have to decide cash or annuity. I use to drive up to Fond du Lac and buy tickets at that store, but with gas prices the way they are and that place being over 40 miles from home I haven't bought from there in a while. They will get a little over $600,000. after taxes etc. If your like 59 I'd say you could take a chance and retire, but most look pretty young 30's maybe some 20's . I don't think I... [ More ]

Comment #19

TheGameGrl — Mon, 07 Aug 2006 22:46:42 GMT

Congrats to the group! Hope they enjoy my 20 dollar contribution and spend it on some crackers : dats allotta cheese!

Personally I am ALL for lottery pools, but I must be realistic and say that having 99 others divy out doesnt leave much left to the small american dream . May they do what is right for their lifestyle

Comment #18

chuck32 — Mon, 07 Aug 2006 20:51:17 GMT

The Wisconsin Lottery has to deal with an odd law - there can only be one winner of a jackpot prize. Without a court order, they cannot write multiple checks, but the order has not been too difficult to get.

I don't think the lottery has ever considered whether a prize can be split cash and annuity (by winner, the IRS won't allow splitting for one winner). The Multi-State Lottery Assoc. can do that pretty easily and can provide the differrent amounts to the lottery. With 100 winners, ther... [ More ]

Comment #17

fja — Mon, 07 Aug 2006 20:41:17 GMT

congrats to the winners, and I hope there is not a 101st employee out there tring to find a lawyer to get himself a portion of that share. Hope they had a lock tight method of playing a pool

Comment #16

bellyache — Mon, 07 Aug 2006 20:04:17 GMT

Wow congrats to them. That is a lot of winners to split a jackpot. At least they ended up with more money then they started with

Comment #15

CASH Only — Mon, 07 Aug 2006 18:21:31 GMT

I'm guessing Wisconsin will make the winners all go one way or the other. I don't think the group wants to take over the record for the largest prize paid as an annuity (which was set by a Wisconsin couple 13 years ago).

Comment #14

speedracer — Mon, 07 Aug 2006 18:10:05 GMT

Sure they could quit their jobs. If it is $900,000 they get, they can put it in Bonds and get $45,000 a year for as long as they have it invested and never touch the principle. That's what I plan to do if and when I win. I'm going to get the HELL out of a 40 hour week job! AMEN!

I just wish it would hurry up and happen. I mostly play to win Powerplay, I think I have a better chance at that than the Jackpot. I wish luck to all for future plays.

Comment #13

golotto — Mon, 07 Aug 2006 17:47:59 GMT

Congratulations to the lucky gang over in St Cloud. Driven through there a couple of times ...pretty place.

I guess that good things do happen to those who ... say yes to cheese :)

Onward and upward to the next jackpot!! Good Luck to all.

Comment #12

Todd — Mon, 07 Aug 2006 17:45:23 GMT

chuck32,

Thanks for adding a dose of reality to the discussion. It can be very monotonous to see Cash Only's lop-sided mantra about only taking a cash option , and I completely agree with you that there are also good qualities to taking the annuity. I'll wager that the people who take annuity (with the annually-increasing amount) will love the fact that they get an increase every year.

By the way, will Wisconsin allow the winners to decide independently if they want cash or annuity, or... [ More ]

Comment #11

chuck32 — Mon, 07 Aug 2006 17:08:30 GMT

Of course these folks can retire. If they take the GUARANTEED ANNUITY, they will get a guaranteed income stream that will keep up with inflation and is likely to be slightly better than they are currently making. These second shift workers reportedly have incomes of $30,000 to $40,000. The guaranteed annuity will pay slightly more than that and will likely keep up with inflation.

People are not happy with these little wins anymore, but think about it. You go to work every day and brin... [ More ]

Comment #10

petergrfn — Mon, 07 Aug 2006 16:46:41 GMT

That's alot of cheddar..no matter how you slice it

Comment #9

RJOh — Mon, 07 Aug 2006 16:27:00 GMT

Are there 100 cheese factory workers in the group or everyone who work in the cheese factory? Until someone ask that question and start writing the checks, they'll all be one big happy family.

Comment #8

fxsterling — Mon, 07 Aug 2006 15:47:47 GMT

$ 900,000 Can get you into a Packers game I've got lotto tickets from that town a few years ago ITS a vortex for winners

Comment #7

CASH Only — Mon, 07 Aug 2006 14:51:43 GMT

More like 900k each. You left out a zero somewhere.

Comment #6

Bradly_60 — Mon, 07 Aug 2006 14:42:51 GMT

If those people can quit their jobs after winning only about $90,000 each....(they still have to take out taxes also) well then all the best to them. But I doubt a prize split nearly 100 times would be actually worth retiring one.

Brad

Comment #5

CASH Only — Mon, 07 Aug 2006 14:35:57 GMT

I just said that. But I sure wouldn't turn down a 1% share of nearly $1 million cash.

Comment #4

DetroitJazzMan — Mon, 07 Aug 2006 14:33:09 GMT

I don't think anyone will be changing jobs. With that many people sharing this jackpot, it dosen't lend itself to retirement. It might buy a few toys, but you better be back at work on monday, this small sum by comparison won't last long with no income.

Comment #3

CASH Only — Mon, 07 Aug 2006 14:10:24 GMT

They each would be getting less than a million BEFORE withholdings (assuming they make the right choice.) I don't think too many of them would be retiring.

Comment #2

Todd — Mon, 07 Aug 2006 14:08:36 GMT

Can you imagine what the owners of that company are thinking? They better start putting out the help wanted signs right now. On the other hand, what a great thing for the economy -- they will instantly have 100 job openings.

Comment #1

DoubleDown — Mon, 07 Aug 2006 14:00:05 GMT

$204 million divided by 100 people = a whole lot of slices...no pun intended...

DD

Wisconsin factory workers win $208M Powerball lottery

Lottery Post — Mon, 07 Aug 2006 13:46:26 GMT

About 100 cheese factory workers in the Wisconsin town of St. Cloud have been celebrating because they say they're $208 million richer now.

Wisconsin state lottery officials say no one has officially stepped forward to claim Saturday's Powerball jackpot.

But a large contingent of employees from Sargento Cheese tells WITI-TV in Milwaukee they have the winning ticket locked in a safe somewhere.

It's not clear when the group will try to redeem the ticket. Lottery spokeswoman Jessica Iver... [ More ]