Sad Story About Jack Johnson's Financial Situation

[KennyBanyeah]

Theres some financial smarts

I wish there was a way we could get him in touch with jack johnsons parents

No shit, eh? I used to try to explain to him the benefits of an RRSP, or even a TFSA but all I'd get is I got my pension.

Now I know what a dick he is and I don't bother.

 

[jstewismybastardson]

No shit, eh? I used to try to explain to him the benefits of an RRSP, or even a TFSA but all I'd get is I got my pension.

Now I know what a dick he is and I don't bother.

oh well some people are risk averse and some people are just plain stupid lol

 

[dash]

Architects are fucking morons.

(sorry if any of you are architects, but I've been in the construction industry for some time and I've met one decent one out of like 500)

My best friend (and best man at my wedding) is an architect and he is no moron. He is bald like eloco, however.

 

[blindbaby]

My best friend (and best man at my wedding) is an architect and he is no moron. He is bald like eloco, however.

He's obviously a character, a genius, and a helluva guy, all rolled into one!

 

[KennyBanyeah]

My best friend (and best man at my wedding) is an architect and he is no moron. He is bald like eloco, however.

Ya see. That's a bad design he chose right there. Maybe he IS a moron.

As George Costanza said dash "I gotta feeling I'm gonna be much smarter than you pretty soon!"

 

[pixburgher66]

I have an extreme sensitivity to things like that because that was my dad and baseball. He tried to make me have the career he didn't. And I preferred hockey and BMX bikes to baseball, which only made it all worse.

It's why I never really spoke to my dad after like age 22. Hardly worth it for him, he never met his grandkids.

Although I was better off for it.

Although I've never actually seen you interact with your children, and from what I garner from what you've said here, you've done your best to not follow in his footsteps. I commend you for that. The instances of abusive parents (not necessarily physically) who in turn create abusive children as parents is plenty.

 

[forty_three]

Although I've never actually seen you interact with your children, and from what I garner from what you've said here, you've done your best to not follow in his footsteps. I commend you for that. The instances of abusive parents (not necessarily physically) who in turn create abusive children as parents is plenty.

Thanks, I do what I can.

I learned early on that he served as a prime example of what not to do.



/and to be clear the estrangement was not only about baseball. In fact, that was may have been the least of what he did to us...

 

[elocomotive]

I just thought they had hit the Jack-pot

Awful

I actually thought it was a pretty good play on words.

 

[elocomotive]

he signed over power of attorney though right? This wasnt a thing where the parents would ask if they could have some money to deal with a bad financial issue ... he basically wrote them a blank cheque and thats on him ... even if they were his parents

he divorced himself from his own personal financial responsibilities when he should have been divorcing his parents

YES! THAT is the big difference here. There is no reason not to trust those close to you to do right by you, loan them some money, etc. There is every reason to not give power of attorney to them.

 

[elocomotive]

My best friend (and best man at my wedding) is an architect and he is no moron. He is bald like eloco, however.

All this "Canadians are so nice" is a bunch of bullshit!!

 

[Winged_Wheel88]

Couldn't read the article in OP all the way through.

Too depressing.

 

[pixburgher66]

YES! THAT is the big difference here. There is no reason not to trust those close to you to do right by you, loan them some money, etc. There is every reason to not give power of attorney to them.

Circles back to the fact that he was 21 when he did that. And I'm sure at 21 beginning his NHL career he never foresaw there being a time where he didn't have money.

 

[Comeds]

The good news is he is still relatively young and this didn't happen when he was 38.

 

[tsawchuk]

I hope most of y'all wouldn't be on my jury.

We have one side of the story here for the most part, and most want to string up his parents. No one is really privy to all the minute details.

One of my first thoughts was, "I'm sorry a grown man has absolutely no responsibility in this at all? I'm sorry, I'm just not buying it at this point. I've seen things along these lines close up, and first hand. Rarely are they cut & dried simple.

 

[Sgt Brutus]

Gotta feel for the guy... not uncommone for these athletes to have family members take advantage of them

 

[pixburgher66]

I hope most of y'all wouldn't be on my jury.

We have one side of the story here for the most part, and most want to string up his parents. No one is really privy to all the minute details.

One of my first thoughts was, "I'm sorry a grown man has absolutely no responsibility in this at all? I'm sorry, I'm just not buying it at this point. I've seen things along these lines close up, and first hand. Rarely are they cut & dried simple.

Well, this isn't a criminal trial, and he's taken care of the situation by going bankrupt...so I don't see how there's reason to think the report isn't true. Johnson doesn't hold zero responsibility, but you really think he's not the victim in this instance?

 

[jstewismybastardson]

Ron toigo owner of the whl vancouver giants talks about a player he had on the tri-cities americans (toigo owned tri-cities in the 90's) who saw his father spend the entire signing bonus of his first pro contract and what resulted from it ... Wow

2:40 mark

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Doesnt name him but pretty much gives it away

Very high profile player in the nhl?
Still playing?
First contract with new jersey?

Scott gomez???

 

[Sgt Brutus]

Johnson gets game tying goal in the 3rd vs. Bos

 

[dash]

Levinson wrote in an email that creditors are still investigating where the money lent to Johnson has gone.

“The real issue in this case is what Johnson and his parents did with the over $12 plus million they borrowed from all the creditors in this case (over and above the salary he was receiving and not using to pay the money back),” Levinson wrote.

“Despite a year to investigate and report to the court Johnson as the debtor in possession offers no explanation,” he wrote. “That is the real story and everyone has been looking for an answer since the beginning of this case. We do know they spent millions of dollars on luxury items, including two California homes, hundreds of thousands of dollars in improvements to his Ann Arbor home, jewelry, travel, two Ferraris, three BMWs, a Hummer, a $50,000 wedding while in bankruptcy etc. “

“Now, rather than doing the ‘right thing,’ as Johnson has said over and over again that he wants to do, he has spent more than a million dollars more on his attorneys trying to avoid paying the very debts he has admitted are his obligations,” Levinson wrote.

Johnson has spent months trying to convert his case from a Chapter 11 bankruptcy to a Chapter 7 bankruptcy and he spent about a day and a half testifying about his case during a three-day hearing in early September.


Lenders say bankrupt NHL star Johnson complicit in reckless borrowing

 

[KennyBanyeah]

This looks like it's getting even uglier, if possible.

Yeesh.