Lenny Dykstra - Financial Genius

[flannj]

Not flying quite as high any more - http://sports.espn.go.com/mlb/news/story?id=4313487

Dykstra, 46, has no more than $50,000 in assets and between $10 million and $50 million in liabilities, according to a petition filed Tuesday with the U.S. Bankruptcy Court in the Central District of California.

That's got to be some sort of record for asset/liability ratio.

Between $10 million and $50 million in liabilities?
Nice tight bid / ask spread.

Its a check off box on the form you file with the Bankruptcy Court.

But you also have to file a list of your largest creditors:




Hard to believe he would slip through Washington Mutual's and Countrywides crack underwriting procedures.  Also note that second  item on the list.  Que Gil? (I know your federal, but employee withholding related debts are sometimes not dischargeable in bankruptcy)

Indeed.  In this particular case, wasn't he running some sort of chain of car washes, or something?  I believe that there was one in Santa Monica, or somewhere.

We had a case against Mervyn's a large retail store a few months back that went into compliance for backpay right when they went under into bankruptcy.  We had to send that case to Special Litigation, but it turns out that if a federal compliance or criminal action is ongoing before the bankruptcy filing, then said agency can still get the money on behalf of third-parties.  If an action for backpay is initiated after a bankruptcy filing, then we are essentially powerless.

I realize I'm naive, but holy crap these numbers are just stunning.

[ChuckD]

Not flying quite as high any more - http://sports.espn.go.com/mlb/news/story?id=4313487

Dykstra, 46, has no more than $50,000 in assets and between $10 million and $50 million in liabilities, according to a petition filed Tuesday with the U.S. Bankruptcy Court in the Central District of California.

That's got to be some sort of record for asset/liability ratio.

Between $10 million and $50 million in liabilities?
Nice tight bid / ask spread.

Its a check off box on the form you file with the Bankruptcy Court.

But you also have to file a list of your largest creditors:




Hard to believe he would slip through Washington Mutual's and Countrywides crack underwriting procedures.  Also note that second  item on the list.  Que Gil? (I know your federal, but employee withholding related debts are sometimes not dischargeable in bankruptcy)

Indeed.  In this particular case, wasn't he running some sort of chain of car washes, or something?  I believe that there was one in Santa Monica, or somewhere.

We had a case against Mervyn's a large retail store a few months back that went into compliance for backpay right when they went under into bankruptcy.  We had to send that case to Special Litigation, but it turns out that if a federal compliance or criminal action is ongoing before the bankruptcy filing, then said agency can still get the money on behalf of third-parties.  If an action for backpay is initiated after a bankruptcy filing, then we are essentially powerless.

I realize I'm naive, but holy crap these numbers are just stunning.

Stunning-LY AWESOME?

[Tank]

Stunning-LY AWESOME?

Um, yes?

Yes.

Yes.

[R-V]

Update:

Dykstra is demanding the insurance company make good on its policy to put him up in a temporary residence because he says the house is now unlivable. "I don't mean to be crude," he says, "but where do they expect me to (go to the bathroom)?" He claims he has been "living in his car," though last night he says he stayed in the lobby of a Westwood hotel.

Nothing wrong with living in a mobile cheddar storage unit.

[MAD]

I eagerly await the day when, instead of seeing that this thread is bumped, that I see Dykstra's name in the subject of a Dead Pool thread.  At this point, anything short of him just offing himself no longer interests me.

[BH]

I eagerly await the day when, instead of seeing that this thread is bumped, that I see Dykstra's name in the subject of a Dead Pool thread.  At this point, anything short of him just offing himself no longer interests me.

No one better for this offing than Ibanez, who's having a great year.

Bradley: 1. Ibanez: 1. Now who's the better choice? I'll hang up and wait for your response.

[Fork]

Bump.

[Dr. Nguyen Van Falk]

Bump.

So, yeah, all that hoopla about Nails auctioning off his stuff? Guess no one wanted it, since it's at a pawn shop now.

Deadspin, missing the entire point?

Go figure...

http://www.cnbc.com/id/32843505

Lenny Dykstra could use some cash right now, but an upcoming auction of his World Series trophy and ring will apparently not help him.

Instead, auction proceeds will go to the Beverly Hills pawn shop which claims Dykstra pawned the items but never reclaimed them.

The auction will be conducted October 1 and 2 through Heritage Auctions in Dallas.

Items include Dykstra's 1986 New York Mets World Series championship trophy and ring.

That's the real comedy of the situation.

There's also this:

Meantime, I've also received a copy of letter from attorneys representing the court-appointed trustee put in charge of managing Dykstra's Chapter 11 bankruptcy.

The letter says that security guards at Sherwood Country Club have been told not to let Dykstra, or anyone representing him, near the two estates he owns inside.

"It has come to our attention that the properties...are being vandalized," the letter says.

[BH]

He's back.

http://www.nailsinvestments.com/

[Fork]

He's back.

http://www.nailsinvestments.com/

At least now we know what Morph has been up to...

[Canadouche]

Dykstra and Isaah Thomas need to go into business together.

[Ivy6]

Dykstra and Isaah Thomas need to go into business together.

lol.

[Fork]

The price of awesomeness? $3200.

[CT III]

Bump.

http://www.thedailybeast.com/blogs-and-stories/2010-06-28/jim-cramer-lenny-dykstra-stock-scandal-reports-the-zeroes/

[Canadouche]

How much longer will this go on before Dykstra eats one of those handguns that Oleg's so opposed to?  Death Pool, anybody?