About 100 cheese factory workers in the Wisconsin town of St. Cloud have been celebrating — because they say they're $208 million richer now.
Wisconsin state lottery officials say no one has officially stepped forward to claim Saturday's Powerball jackpot.
But a large contingent of employees from Sargento Cheese tells WITI-TV in Milwaukee they have the winning ticket locked in a safe somewhere.
It's not clear when the group will try to redeem the ticket. Lottery spokeswoman Jessica Iverson says it can take several days or weeks for a winner to come forward.
For now, the group claiming to have won seems to be soaking in the moment.
Eric Heimermann is one member of the celebrating group. He says he's still going to work today, but he's not sure what'll happen after that.
The winning ticket was sold at Ma and Pa's Grocery Express in Fond du Lac along the so-called "Miracle Mile." South Main Street earned that nickname because several stores there sold multimillion-dollar tickets in the 1990s.
The winning numbers drawn Saturday night were 2, 3, 9, 48 and 50 and the Powerball was 23.
The jackpot is the largest in Wisconsin history, according to lottery spokeswoman Jessica Iverson. Before this drawing, the largest jackpot in the state had been a Powerball jackpot worth $195 million, won by a couple from Illinois in May 1998.
Three other tickets sold in Wisconsin matched four of the five numbers plus the Powerball on Saturday, lottery officials said. Those tickets, worth $10,000 each, were sold in Appleton, Lake Geneva and Mellen.
Powerball is played in 29 states, the District of Columbia and the U.S. Virgin Islands.
Iverson said it can take several days or weeks for a winner to come forward. She encouraged the winner or winners to sign the ticket, put it in a safe place and contact lottery officials.
Ma and Pa's — which itself will receive $100,000 — has quite a rich history of selling winning tickets. The store sold a winning Megabucks ticket worth $6.5 million in 1994 and has sold winning tickets for $500,000, $250,000 and $100,000 too.
"We sell a lot of tickets of course. But statistically we shouldn't be selling this many winners," said Phil Moses, who owns the store with his mother Pat.
Can you imagine what the owners of that company are thinking? They better start putting out the help wanted signs right now. On the other hand, what a great thing for the economy -- they will instantly have 100 job openings.
They each would be getting less than a million BEFORE withholdings (assuming they make the right choice.) I don't think too many of them would be retiring.
I don't think anyone will be changing jobs. With that many people sharing this jackpot, it dosen't lend itself to retirement. It might buy a few toys, but you better be back at work on monday, this small sum by comparison won't last long with no income.
If those people can quit their jobs after winning only about $90,000 each....(they still have to take out taxes also) well then all the best to them. But I doubt a prize split nearly 100 times would be actually worth retiring one.
Are there 100 cheese factory workers in the group or everyone who work in the cheese factory? Until someone ask that question and start writing the checks, they'll all be one big happy family.
Of course these folks can retire. If they take the GUARANTEED ANNUITY, they will get a guaranteed income stream that will keep up with inflation and is likely to be slightly better than they are currently making. These second shift workers reportedly have incomes of $30,000 to $40,000. The guaranteed annuity will pay slightly more than that and will likely keep up with inflation.
People are not happy with these "little" wins anymore, but think about it. You go to work every day and bring home $40,000. Now you bring home $42,000 a year and it will keep increasing by 4% every year to keep up with inflation - a guaranteed raise - up to $131,000 a year after 29 years (which is probably worth about $42,000 in today's dollars). PLUS you aren't going to work on the second shift. Maybe you now take some time to go to school? Maybe some time to take a fun job - one you don't really care about losing - think about working at a job that you don't really need - talk about stress relief. Or maybe a job that is so fun you work harder to make it succeed - but love every minute of it?
I suppose they could take the cash too - then pay taxes, then invest what is left over and hope they invest wisely. Maybe they will spend it all quickly or lose it in investments. I know that some think that cash is the only way to go.
For these winners, this prize gives them complete freedom to quit their jobs and maintain their income - probably better than they could have otherwise done - no dealing with bosses and pushing for that cost-of-living increase every year. What more could one ask?
When we dream of what we really want, is it all really about getting a new Maybach every year? Or is it about having the freedom to spend time with your family, work on that Great American Novel, and still earn the same income you were working with before?
Note to CASH ONLY: Actually, with the federal maximum tax rate at historic lows (35%) now is about the only time in modern lottery history to even think about taking the cash - if you are a financial wizard and willing to spend your life watching your investments. And some do love to do that - I'm more of a beach-and-umbrella-drink guy myself. With around $500,000 left to invest from a cash win (after federal and state taxes), I suppose that a good stock market investment (accepting a reasonable amount of risk) might bring in $50,000 a year - but it will stay at that rate each year (while inflation goes up) unless you are not careful to invest back some of the income. Of course, there are those bad years where you will be eating a lot of beans and living with your parents again, or maybe with a friend in the group who took the annuity.
Thanks for adding a dose of reality to the discussion. It can be very monotonous to see Cash Only's lop-sided mantra about "only taking a cash option", and I completely agree with you that there are also good qualities to taking the annuity. I'll wager that the people who take annuity (with the annually-increasing amount) will love the fact that they get an increase every year.
By the way, will Wisconsin allow the winners to decide independently if they want cash or annuity, or will they all have to choose the same thing?
Sure they could quit their jobs. If it is $900,000 they get, they can put it in Bonds and get $45,000 a year for as long as they have it invested and never touch the principle. That's what I plan to do if and when I win. I'm going to get the HELL out of a 40 hour week job! AMEN!
I just wish it would hurry up and happen. I mostly play to win Powerplay, I think I have a better chance at that than the Jackpot. I wish luck to all for future plays.
$204 million divided by 100 people = a whole lot of slices...no pun intended...
DD
Can you imagine what the owners of that company are thinking? They better start putting out the help wanted signs right now. On the other hand, what a great thing for the economy -- they will instantly have 100 job openings.
They each would be getting less than a million BEFORE withholdings (assuming they make the right choice.) I don't think too many of them would be retiring.
I don't think anyone will be changing jobs. With that many people sharing this jackpot, it dosen't lend itself to retirement. It might buy a few toys, but you better be back at work on monday, this small sum by comparison won't last long with no income.
I just said that. But I sure wouldn't turn down a 1% share of nearly $1 million cash.
If those people can quit their jobs after winning only about $90,000 each....(they still have to take out taxes also) well then all the best to them. But I doubt a prize split nearly 100 times would be actually worth retiring one.
Brad
More like 900k each. You left out a zero somewhere.
$ 900,000 Can get you into a Packers game I've got lotto tickets from that town a few years ago ITS a vortex for winners
Are there 100 cheese factory workers in the group or everyone who work in the cheese factory? Until someone ask that question and start writing the checks, they'll all be one big happy family.
That's alot of cheddar..no matter how you slice it!!
Of course these folks can retire. If they take the GUARANTEED ANNUITY, they will get a guaranteed income stream that will keep up with inflation and is likely to be slightly better than they are currently making. These second shift workers reportedly have incomes of $30,000 to $40,000. The guaranteed annuity will pay slightly more than that and will likely keep up with inflation.
People are not happy with these "little" wins anymore, but think about it. You go to work every day and bring home $40,000. Now you bring home $42,000 a year and it will keep increasing by 4% every year to keep up with inflation - a guaranteed raise - up to $131,000 a year after 29 years (which is probably worth about $42,000 in today's dollars). PLUS you aren't going to work on the second shift. Maybe you now take some time to go to school? Maybe some time to take a fun job - one you don't really care about losing - think about working at a job that you don't really need - talk about stress relief. Or maybe a job that is so fun you work harder to make it succeed - but love every minute of it?
I suppose they could take the cash too - then pay taxes, then invest what is left over and hope they invest wisely. Maybe they will spend it all quickly or lose it in investments. I know that some think that cash is the only way to go.
For these winners, this prize gives them complete freedom to quit their jobs and maintain their income - probably better than they could have otherwise done - no dealing with bosses and pushing for that cost-of-living increase every year. What more could one ask?
When we dream of what we really want, is it all really about getting a new Maybach every year? Or is it about having the freedom to spend time with your family, work on that Great American Novel, and still earn the same income you were working with before?
Note to CASH ONLY: Actually, with the federal maximum tax rate at historic lows (35%) now is about the only time in modern lottery history to even think about taking the cash - if you are a financial wizard and willing to spend your life watching your investments. And some do love to do that - I'm more of a beach-and-umbrella-drink guy myself. With around $500,000 left to invest from a cash win (after federal and state taxes), I suppose that a good stock market investment (accepting a reasonable amount of risk) might bring in $50,000 a year - but it will stay at that rate each year (while inflation goes up) unless you are not careful to invest back some of the income. Of course, there are those bad years where you will be eating a lot of beans and living with your parents again, or maybe with a friend in the group who took the annuity.
chuck32,
Thanks for adding a dose of reality to the discussion. It can be very monotonous to see Cash Only's lop-sided mantra about "only taking a cash option", and I completely agree with you that there are also good qualities to taking the annuity. I'll wager that the people who take annuity (with the annually-increasing amount) will love the fact that they get an increase every year.
By the way, will Wisconsin allow the winners to decide independently if they want cash or annuity, or will they all have to choose the same thing?
Congratulations to the lucky gang over in St Cloud. Driven through there a couple of times ...pretty place.
I guess that good things do happen to those who ..."say yes to cheese" :)
Onward and upward to the next jackpot!! Good Luck to all.
Sure they could quit their jobs. If it is $900,000 they get, they can put it in Bonds and get $45,000 a year for as long as they have it invested and never touch the principle. That's what I plan to do if and when I win. I'm going to get the HELL out of a 40 hour week job! AMEN!
I just wish it would hurry up and happen. I mostly play to win Powerplay, I think I have a better chance at that than the Jackpot. I wish luck to all for future plays.