• Sep 7, 2008
Norris Cadiere and his family were among the thousands who evacuated their New Orleans-area homes ahead of Hurricane Gustav last week. The Cadieres, who waited out the storm in Georgia, decided to stop at the Hollywood Casino in Bay St. Louis, MS on the way back to their home in Marrero, which is around 10 miles outside New Orleans. Norris was playing the maximum bet on one of the casino's nickel slots when he got lucky, and the slot machine started going berserk. Cadiere thought he had won himself a thousand bucks or so, but he soon learned that, in fact, he had won a $30,000 2008 Mustang convertible (we're assuming it's a GT, given that price). All too often, violent storms like this result in a loss of some kind for those affected by them. In the Cadieres' case, not only did they wind up with a brand new car, but their house escaped the storm unscathed as well. Little did they know that when they took their unplanned (and almost certainly unwanted) road trip last week, Lady Luck would be riding shotgun the whole time.


[Source: SunHerald.com]


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    • 1 Second Ago
  • 36 Comments
      • 6 Years Ago
      FOR $30, 000 -- NOT A GT MSRP $31,250 STRIPPED
      Thus, if that is the price, a loaded V6

      Easy to look up on Ford's website -- why put guesses on facts in the blog post?????????
        • 6 Years Ago
        Fox News has been doing it for years.
      • 6 Years Ago
      Man, I wish I had a Mustang... It'd go great right beside my future '10 Camaro.
      ddsdarlin2
      • 6 Years Ago
      Oh Boy, and they can go back home and get their cut of the Hurrican Relief Fund too... It's a win win situation!!!!!!!
      • 6 Years Ago
      There was a guy who used to live in my neighborhood... won lottery twice in the same year.......

      talk about lucky.......pfft
      • 6 Years Ago
      GEORGE BUSH THANKS YOU FOR YOUR VOTES!
      Dm Felcher
      • 6 Years Ago
      My luck the storm would pick a Mustang up and drop it on my house.
      • 6 Years Ago
      Too bad it had to be in Mississippi, where there is a state income tax, as well as federal.
      • 6 Years Ago
      If only a hurricane would come to Atlanta (Yeah I know it's unlikely) and I could run away to a casino giving away a Porsche Carrera GT and have luck on my side.
      • 6 Years Ago
      Federal Tax and state tax on the 30k comes to about 10k, then you still have to put the licence and insurance on it. Better just to take the cash and have it over with.
      • 6 Years Ago
      My first thought when reading this was: since when is St. Louis on the way from GA to New Orleans? and that's when remembered that there are way too many states that start with M.
        • 6 Years Ago
        It's BAY St. Louis, Mississippi.
      • 6 Years Ago
      It's all fun till the taxman asks for his share. He'll probably owe at least $5000 in taxes come next April if he took the car.

      Unless it's a rare car or one that deprciates very slowly, the cash value option is often a better choice.
        • 6 Years Ago
        My dad won a Mustang back in '98. He landed up paying a little over a third of the car's value in Federal and State taxes.
        • 6 Years Ago
        The tax burden for the car itself would depend on the winner's marginal rate, but could be as much as 33% of the price of the car. I think winnings these days are taxed as regular income (once upon a time they were taxed at the maximum rate.) Assuming the winner is an "average guy" it'll probably be 25%, or $7500. Not a bad deal for a GT convertible, especially if it lets you sell another car that it replaces, or if you sell it for say $25k.

        I agree that the cash option is the better choice, unless you really really want the Mustang.
        makeda
        • 6 Years Ago
        U would complain about taxes?
        • 6 Years Ago
        If he and his entire family have any those freebie's debit credit/money cards left over from Hurricane Katrina, maybe they have enough to pay off Uncle Sam.
        • 6 Years Ago
        Then again, a $30k car for $5k is a pretty good deal...

        (assuming you can afford $5k, of course)
        • 6 Years Ago
        5 grand in marginal taxes on a $30,000 car?

        Try 6% LA state income tax, 25% fed income tax.



        • 6 Years Ago
        jgp, i know we all love cars here, but getting a 30k car and 'paying' 5k for it isn't as good as taking 30k in money and paying 5k for it.

        I mean, the car just lost 5k driving it back home, right?

        I'd take the money and use it for something useful if I've already got a good car.
        • 6 Years Ago
        Paying only $5k for a new Mustang is pretty cheap, imo. Problem is that winning something you tend to get slammed hard for the taxes...up to 50% of the value of the item in question.
      george
      • 6 Years Ago
      the winner can deduct all his losses gambling, up to the amount of his winnings. on a 1040 G form.
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