Saturday, January 10, 2009

So this is how it went down. Sunshine Mortgage Corp.

So Wednesday night I get to work. The rate sheets come out. Something strange, no locks for 60 days. Wow...we are in the best market in 2 years and the rates for OUR company are crap. We all go home wondering what was happening.

Around 8 pm I get a call... Elnora, Ted shut the company down. "What?" I stood in the hall trying to get a grip. I just lost my job...not just me, but every employee of Sunshine Mortgage and Madison Mortgage just lost their jobs. Hundreds of people with no warning, no notice.

And the kicker,,,no back pay. That's right, the owner of the company wanted to keep us all working until next Friday when we all realized our paychecks didn't come. The CEO's of the company resigned on spot and started making calls.

What happenend? A company that made 52 million a week?

The only thing I have to go on is rumors. Rumors that the owner, TED TERRY, couldn't make payroll..or could but wanted to cash his chips in and fuck everyone else. Rumors that his builder's business was tanking and he was funneling the losses into Sunshine's bottom line.

What ever the rumor, not paying us is illegal, not giving us 60 days notice under the ward law, is illegal, and I am sure there is something else going on that is illegal. So Monday morning it is my resolve to contact the Atlanta Prosecutor's office and try to budge them into an investigation. White Collar crimes can be icky.

Now I just pray that my family and the hundreds of families affected by this awful tragedy can survive. It's a cold winter my friends. Very Cold.

Anyone find out anything more for me, I will be extremely grateful.


Woozie said...

I love how press releases make the whole purging sound cleaner than it is. "Sunshine Mortgage is currently seeking possible buyers", if by seeking possible buyers you mean haplessly cutting all ends off. How's that for fair.

Ellie said...

Well, I contacted the Atlanta procecutors office, I think there is some sort of fraud on Ted's part.

we will see.

paz y amor said...

Of course there is fraud! Anytime a company shuts down suddenly, there was something shady going on and they got caught! Bullshit man. I feel for all you guys.

R2K said...

: )

e.Craig Crawford said...

Keeping you working "for free" is enough to to tip you off about this man's integrity.

I'm sure it's all downhill from there. I hope your family can struggle through this tough time.

Ellie said...

we have a little saved, I do worry b/c my position isn't one that everyone is hiring for.

I worry about my mother in law, she worked with me and was on the verge of losing her with out her pay, she is fucked.

I was warned to not say too much b/c Ted Terry has expensive lawyers and he is a very rich man...well FUCK TED TERRY. I think he will have bigger things to worry about like..lubing up is ass so it won't hurt so much in prison.

Nikky said...

wow, Ellie, I'm so sorry, this is so bizarre, yours is the second blog I've read TONIGHT in which the blogger lost their job out of the blue.

I hope things can turn around for you, and quickly! I will keep you and your family in my thoughts!

Just Dave said...

I suspect Ted had the tickets to Costa Rica purchased before the word got out. Sorry for your situation but I bet you land on your feet.