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Tyson Files for Bankruptcy

LLL

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Aug 17, 2001
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Wishing it was Toronto
Lawyers' fees........
 

Fred Zed

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Dec 31, 1969
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UP ABOVE SMILING
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Hornet said:
Mike Tyson has apparently blown $300M and filed for Chapter 11 Bankruptcy Protection.

HOW DO YOU BLOW $300M????

According to CNN:
1.mansions
2.fast women
3.fast cars
4.jewellery

I guess it never occurred to him to hire a good accountant/financial advisor.
 

Average Joe

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Mar 28, 2002
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Re: Re: Tyson Files for Bankruptcy

Fred Zed said:
... I guess it never occurred to him to hire a good accountant/financial advisor.
That would require an actual thought.
 

kwong_1978

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Jan 2, 2003
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I bet he won't stop boxing until he's six feet under. Then again, his funeral will probably be a pay-per-view.
 
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CyberGoth

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Apr 18, 2002
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mr. tyson obviously has no clue how to manage his money.

what a senseless waste.... one day I'll have that kind of money...
 

Cinema Face

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bbking said:
it scares me to think of him loose on the streets with no money.
Maybe he can join up with Michael Jackson. Wacko-Jacko will be on the streets soon too the way he's going.
 

Hornet

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Jul 22, 2002
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Re: Re: Tyson Files for Bankruptcy

Here's the whole thing I don't understand...

Mike Tyson (like many famous athletes, musicians, actors, etc.) came from humble beginnings. If you started out not having anything I'd assume that you'd gain respect for what you earned and not risk throwing it away.

I don't get why someone needs to be flashy and throw it around all the time. And what's with the entourage thing - paying friends to hang around you, bodyguards are one thing but come on.

With that kind of money I'd diversify and invest it then live off the interest. If I made more then I'd add it to my investments and have my interest income grow. It'd still net in the $milions/year which is more then enough to live on.

As for the tigers he should have just bought a fat tabby with an attitude problem - would have been cheaper.

Greed, irresponsibility, stupidity and low self-worth is all it is. Worst of all is the impressionable young kids who grow up idolizing these people and end up thinking that the only thing that will make you happy in life is money and material possessions.

Sorry... just felt like ranting.
 

The Baroness

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Aug 11, 2002
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Wonder how much Don King got of that.
 

Don

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Aug 23, 2001
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Re: Re: Re: Tyson Files for Bankruptcy

Hornet said:
Here's the whole thing I don't understand...
With that kind of money I'd diversify and invest it then live off the interest. If I made more then I'd add it to my investments and have my interest income grow. It'd still net in the $milions/year which is more then enough to live on.
We're talking about a guy who doesn't even have a high school education. How smart with money is your average 8th grader? He has no clue how to manage money.. nor did he fel he ever needed to. He had people who did it for him (and ripped him off in the process).
 
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