Why exactly would anyone pay this guy so much money mcmoney? Find out, after the jump.
As if the TV business wasn't bad enough, Time Warner has to pay $281 million to a Dallas car dealer named David McDavid because TBS -- formerly owned by crazy billionaire Ted Turner -- reneged on a 2003 oral agreement to sell the NBA's Atlanta Hawks and the NHL's Atlanta Thrashers to him. After months of negotiations, and a deal in place, Turner said never mind, and then sold for the exact same price to a group of investors headed by his son and son-in law. Anyway, the $281 million "our bad" represents about 6% of Time Warner's 2007 net income.
We like this, mostly because this guy's name is David McDavid, and he overcame his "Boy Named Sue" lot in life to become a wildly successful businessman, and then stick it to Ted Turner. Plus, unlike The Boy Named Sue, he named his son David McDavid Jr. Well, if there wasn't already, now there's enough dough for David McDavids III-X, at least.