Let this be a lesson to all you future millionaires out there. Just because you have the money doesn’t mean you should just toss it away.
I’m willing to bet that every minute of every day a professional athlete somewhere on this planet is pitched a business proposal. No matter the specifics of the pitch the conclusion is usually something along the lines of asking for said athlete to invest a small portion of their capital.
On one of those days during on of those very shady pitches Lamar Odom, Shaquille O’Neal, Drew Brees and a slew of other high profile athletes and entertainers were convinced that an item sold in kiosks in shopping malls was actually worth their time and/or money. I’m speaking of the novelty item known as Power Balance bracelets.
You know the drill. You and your folks are mobbing through the mall, killing a few Ms. Fields when some d-bag approaches you with a bracelet he claims will give you superhuman strength or at least the ability to stand on one leg without falling over. One of you decides to give the miracle bracelet a try and the placebo effect takes over.
According to TMZ the very company that Odom has both endorsed and invested in is said to be on the brink of bankruptcy after agreeing on a $57-million settlement. Apparently those bracelets do as much for your health as the congress does for the general public. Next to nothing.
The company is claiming the reports are false but does acknowledge there is no proof that their bracelets do much more than waste your cash.
No…really? The humanity!
Now it should be noted that Odom has done some of his best hooping while wearing his colossal waste of cash. Maybe it is all placebo but if it works for Lamar then maybe he should just ignore Power Balance’s balance sheet and just keep acting as if nothing has changed. Of course trying to recoup his money might be another issue in itself.
But hey, it could be worse. Just ask the Sacramento Kings who sold the naming rights to their arena to the soon-to-be defunct company. Hello, Sacramento…Anaheim calling.