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John L. Smith to file for Bankruptcy.

  • WBill@ said...

    Maybe a 13, not sure how someone making 850k a year qualifies for a 7.

    Right. With 850k he can be converted to 13 for debt service at the 25% marker with the dreaded 22A form after the exemptions - at least $150k/yr. If the 10-yr contract is enforceable, he could always negotiate zero interest thru the creditors/trustee as long as they aren't opposing discharge for fraud in the 7 if that's what he will originally file under.

    He looks like shit in that USA Today article. Probably because he knows he should have filed last year after cooling his heels and before that Weber St contract kicked in.

    FIJI239 81 ●

  • I was at the '85 Iowa game too. To make matters worse is that the refs didn't see an OBVIOUS facemask by Iowa's DE against our line - dude just grabbed the OT's facemask and threw him off to the side. We at least could have had one more shot.

    If Yarema had one weakness it was he tended to throw soft - this interception was no exception.

    This post was edited by Frank Ricard on 7/4/2012 at 10:47 AM

    Frank Ricard

  • Spartan_MD said...

    Guess "L" in JohnL stands for LIEN.

    The first post was slightly funnier but I up voted both for shits and giggles.

    This post was edited by Raytooth Morgan on 7/4/2012 at 10:52 AM

    Posting member of tRCMB since 1997. It is ALWAYS a great day to be a Spartan!!!!

    Raytooth Morgan

  • Tanfan said...

    Worst moment in my life sitting there drenched in the rain watching the choke unfold. Phoneman sitting next to me going berserk yelling obscenities at the players and JL as they left the field. I'll never forget walking slowly back to the habbit trail parking structure, not speaking to anyone, getting in my car and driving to livonia to find a hotel to stay in to recover from what I had witnessed. Still the sunshine blowers kept saying give JLS more time, don't fire him. rogue leader attacking everyone with a fury following the calls for JL's firing. Ahh, thank god the power of the rcmb won out over that worthless clique of enablers.

    I walked back to our car with my wife and buddy and never said a word. We rode back to the Radison and I never said a word. I finally said "I can't believe we fucking lost" in the elevator.

    Posting member of tRCMB since 1997. It is ALWAYS a great day to be a Spartan!!!!

    Raytooth Morgan

  • FIJI239 81 said...

    Right. With 850k he can be converted to 13 for debt service at the 25% marker with the dreaded 22A form after the exemptions - at least $150k/yr. If the 10-yr contract is enforceable, he could always negotiate zero interest thru the creditors/trustee as long as they aren't opposing discharge for fraud in the 7 if that's what he will originally file under.

    He looks like shit in that USA Today article. Probably because he knows he should have filed last year after cooling his heels and before that Weber St contract kicked in.

    No "conversion" necessary. Per the article, he hasn't filed yet. But yeah, it'll be a 13, most likely.

    SpartanInNH

  • Rogue Leader said...

    I like how you try and play it off like you didn't thoroughly enjoy yourself at that game. Oh well. Fire Treadwell and Narduzzi right chad? lol

    I had a fantastic time at that game until the 4th quarter. Probably the worst quarter of football I've ever seen in person.

    Posting member of tRCMB since 1997. It is ALWAYS a great day to be a Spartan!!!!

    Raytooth Morgan

  • RBW Spartan said...

    I'd be worried if I were Arky's AD.

    3. They have a bankrupt JLS who needs money as their coach

    You know he won't be paying players.

    Don't think -- it can only hurt the ballclub

    LA_Spartan

  • I feel sorry for JLS and his family. More evidence of his bad judgment. Anyone that makes all of their investments in real estate is insane.

    This reminds me of the sad tale of Tony Dorsett the great Cowboy RB. He decide to invest ALL of his money in oil wells. Same thing happened and he had to unretire and play a few more years to pay the bills.

    Never invest in either unless you can afford to lose the entire investment and survive.

    Συν ται η επι ται! Syn tai e epi tai! Ή ταν ή επί τας! E tan i epi tas!

    CVSpartan

  • wtf is with college coaches involved in real estate?? Yeesh.

    signature image

    TheBlitzIsOn

  • TheBlitzIsOn said...

    wtf is with college coaches involved in real estate?? Yeesh.

    Yeah, and John L. never paid much attention to the ground game. (Apologies, sorry, couldn't resist.)

    signature image

    I think of a hero as someone who understands the degree of responsibility that comes with his freedom. -Bob Dylan

    Geoff71

  • Geoff71 said...

    Yeah, and John L. never paid much attention to the ground game. (Apologies, sorry, couldn't resist.)

    Simply more indication that the guy doesn't know what he's doing and lets OTHERS make TOO MANY decisions for him.

    Nice guy, but I am so glad he's gone.

    signature image signature image signature image

    Punisher99

  • Frank Ricard said...

    I was at the '85 Iowa game too. To make matters worse is that the refs didn't see an OBVIOUS facemask by Iowa's DE against our line - dude just grabbed the OT's facemask and threw him off to the side. We at least could have had one more shot.

    If Yarema had one weakness it was he tended to throw soft - this interception was no exception.

    Two things:

    1.) Butch Roule ( sp) , the intended target was tackled on that play in the endzone. Obvious and blatant pass interference.

    2.) GP NEVER called passing plays inside the 5 yard line. Yarema was likely shocked by the call.

    duffy munn

  • Are there good real estate deals in Kentucky?

    Beardy ●

  • Apparently not...stretcher

    The_Dude

  • WBill@ said...

    Maybe a 13, not sure how someone making 850k a year qualifies for a 7.

    Possibly (probably?) ineligible for a 13 - you need to be under certain debt thresholds for unsecured and secured claims. If memory serves, it's around 360K unsecured and 1.1MM secured debt right now. I suspect he's in the red considerably deeper than that, given his income; won't know until he files.

    "SpartanTailgate.com - Ransacking the Freep since 1812!" - Mike Valenti

    Negotiator

  • Beating on the ponies

    This post was edited by Spartan8Ball on 7/4/2012 at 12:42 PM

    signature image

    Spartan8Ball

  • Raytooth Morgan said...

    I had a fantastic time at that game until the 4th quarter. Probably the worst quarter of football I've ever seen in person.

    I was at my high school homecoming dance during that game. TV was set up in the gym and I was constantly checking. Left the dance right before the shit started to hit the fan all pumped about the great win. Went home and changed and then headed to a buddy's house where i found his mom who watches the games. "How'd the game turn out?" I asked, fully believe that i knew the answer. She just shook her head and I was like "dsfosdfnsdofjsd what?!@"

    This post was edited by All Ages Shows on 7/4/2012 at 12:36 PM

    All Ages Shows

  • All Ages Shows said...

    I was at my high school homecoming dance during that game. TV was set up in the gym and I was constantly checking. Left the dance right before the shit started to hit the fan all pumped about the great win. Went home and changed and then headed to a buddy's house where i found his mom who watches the games. "How'd the game turn out?" I asked, fully believe that i knew the answer. She just shook her head and I was like "dsfosdfnsdofjsd what?!@"

    I don't think Slappy had any choice but to file for bankruptcy after he found out Mt. Kilimanjaro wasn't on the property he bought in Kentucky.

    Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury

    Bullwrinkle ●

  • goodbar said...

    the coach is investing his tail off but the brokers keep screwing it up!!

    And one of my very rare upvotes for you sir. Well played!

    Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury

    Bullwrinkle ●

  • TheBlitzIsOn said...

    wtf is with college coaches involved in real estate?? Yeesh.

    Anyone know if its true that Saban owns that corner of Haslett thats all out of business? Where the L&L used to be and the little Ceasars is the only thriving business?

    ColonelAngus

  • Tanfan said...

    It's one of the few games I didn't give up by half time. surrenderlol

    Obviously before you figured out your reverse jinx powers.

    NigelUno

  • I was in the band at the time of the ND game.

    Morning of gameday, we finished rehearsal and it was pretty well known we were going to get rain that night. The band pretty much collectively said "fuck it. It's ND. Let's just get drenched." By the end of the game, the wool uniforms felt like they weighed 50 pounds - an extra 15 due to the downpour, 35 more for the crippling depression.

    Royal

  • Royal said...

    I was in the band at the time of the ND game.

    Morning of gameday, we finished rehearsal and it was pretty well known we were going to get rain that night. The band pretty much collectively said "fuck it. It's ND. Let's just get drenched." By the end of the game, the wool uniforms felt like they weighed 50 pounds - an extra 15 due to the downpour, 35 more for the crippling depression.

    Nerds vex me.

    Keeping the sunshiners in check since 2000.

    Tanfan ●

  • Rogue Leader said...

    I like how you try and play it off like you didn't thoroughly enjoy yourself at that game. Oh well. Fire Treadwell and Narduzzi right chad? lol

    Do it now!!!!! Lol

    Keeping the sunshiners in check since 2000.

    Tanfan ●

  • Royal said...

    I was in the band at the time of the ND game.

    Morning of gameday, we finished rehearsal and it was pretty well known we were going to get rain that night. The band pretty much collectively said "fuck it. It's ND. Let's just get drenched." By the end of the game, the wool uniforms felt like they weighed 50 pounds - an extra 15 due to the downpour, 35 more for the crippling depression.

    Hollis could get you Nike dri-fits if you asked him.

    NigelUno

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