a million dollars easy

-----[excerpt]----- He’d take bank loans just to establish credit – start with a twenty-thousand-dollar loan, maybe, take the money and put it in his office safe for a month, then take it back. He kept doing this with bigger and bigger loans. After a while, he could walk into Wells Fargo and get a million dollars easy.------------- [excerpt, Tina Turner’s autobiography]




That was Ike Turner they’re talking about, up there in that paragraph….Considering options for people to go about creating financial security and wealth, I remember I went back to the Tina Turner autobiography just to look for that passage.

If you can really do that – take out a loan, bring it back, take out a bigger loan, bring that back, until you’re able to get a million dollars, how come everyone doesn’t do that?

Trying to understand that, and being certainly aware of the fact that Ike Turner is not exactly a role model, in several ways – he could be a role model for arranging music and planning stage acts, though – I asked some people, Is that the way a person should do business?

They said, “er -- no.” Of course they were just sitting around having a beer, so don’t know if they were Knowledgeable About Finance…I just asked them anyway….



Ann Cain, a person who worked for the Ike and Tina Turner Revue for a while in bookkeeping, told that information, in the book. She said, “The way he worked – with no manager or anything – he could make millions from one hit record. And he had access to lots more. He’d take bank loans just to establish credit….”



Cows And Animals

------------

----[excerpt] Ann Cain returned at this point. She had stayed in touch from another state, and now, with a broken marriage behind her, she was back in L.A. However, she had also become a Jehovah’s Witness, and when Ike approached her about resuming her managerial role with the Turner organization, Cain immediately made it clear that, if she did return, she would no longer perform double duty as one of Ike’s on-call playmates.

Ann Cain: I told him how my life had changed, and that things that maybe I did before, I would not do them now. That was our agreement. That, and an understanding that he would not talk to me while he was on the drugs.

Ike needed somebody then, because the office was a mess – there were hundreds of thousands of dollars in checks lying around. I had set up Ike’s business system originally, so I tried to untangle things. The way he worked – with no manager or anything – he could make millions from one hit record. And he had access to lots more. He’d take bank loans just to establish credit – start with a twenty-thousand-dollar loan, maybe, take the money and put it in his office safe for a month, then take it back. He kept doing this with bigger and bigger loans. After a while, he could walk into Wells Fargo and get a million dollars easy. So he had all this money. But he made all these bad investments with it. Well, he had the studio, and the apartment building behind it where Ann Thomas lived. That was a good piece of property. And he had a share in this two-hundred-fifty-unit apartment complex out in Anaheim. But then he had all this money in cows and animals and things, and bad stocks. When I started checking this stuff out, it turned out to be worthless. Zero.

…That whole wall between his nostrils was totally gone. He’d stay up four or five days in the studio, with the drugs.---------- [end, Excerpt]

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{I, Tina – written by Tina Turner, with Kurt Loder – copyright 1986, Avon Books, New York}

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