Sunday, November 16, 2008

Bathroom Lottery

In 2006, a contractor in Cleveland found nearly $180,000 behind a bathroom wall in the house of a former high school classmate who had hired him for a home improvement project. According to labeling on one of the envelopes, the money belonged to a wealthy businessman who lived in the home during the Great Depression. Together, the contractor and home owner inspected the rare bills and took pictures of the find.

Normally I love stories like this. However, this one probably turned sour immediately after the last picture was taken. The contractor most likely hung around, waiting for an offer. The home owner most likely packed up the money, pretending like it didn't exist. Eventually, the home owner offered 10%, but the contractor wanted 40%. As they went back and forth, The Plain Dealer somehow picked up the story and the descendants of the businessman stepped forward and sued for a right to the money. All 21 of them.

To see how it all worked out, click here. I'm interested to see what you think: did the contractor have a right to the money? Was 10% a fair offer? If you were the contractor, would you have pocketed the money or reported it?

Hmm. Greed makes people do funny things.

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