The Bad Loan That Took Down Athletic World Advertising

Staffers at Athletic World Advertising of Fayetteville and Tulsa might be getting some good news. Could it be? Could it just be a good news kind of day?

The more than 100 employees who lost their jobs after the sports promotions company closed its doors on Wednesday, have woken to news that the shop has been purchased by, Game On Advertising, which may provide a home for those laid off.

Check this out – the whole thing is as seedy as the financial crisis. You see, Brick Wade Ogden, the brother of Athletic World Advertising’s original owner, took a loan out against the company. He owes $745,947 to The Bank of Fayetteville with the debt in default. Brick “reportedly sold his shares to the company before relocating out of the country a few years ago.” Um, without paying the loan. Oh, it’s ugly as hell.

Also, interesting is the President of Game On is a guy named Mark McQueen. Mark was the former president of Athletic World Advertising. Now you know McQueen is somewhere loving that he gets to buy out his old employer. Success is the best revenge. Always.

More: MindShare Paid For A Bunch Of BS

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