National business correspondent Roben Farzad has launched a new radio podcast recorded in Richmond. The program is called Full Disclosure, and in the months ahead we'll share his weekly effort to translate the language of finance and investing. The theme of this week’s program? Bending, Not Breaking.
Farzad talks with Richmond entrepreneur Matt Paxton. He’s best known for his business Clutter Cleaner, featured on the reality TV show Hoarders. But it was a long climb to success for Paxton. While working at the Federal Reserve after college, he fell into gambling. In 1999 he was $40,000 in debt to a bookie. He was beaten up, and left in the ditch outside a casino. He headed home to Virginia.
Paxton also cleaned out crime scenes and foreclosed homes for a decade to pay off maxed-out credit cards at a 22% interest rate… he considers it a form of indentured servitude. But it all led to a successful national business and television show.
You can hear the full story of Paxton’s failure and redemption, on Roben Farzad’s Full Disclosure.