From the Las Vegas Sun:
Jimmy Dague, who has sold real estate in Las Vegas since 1978 and whose business was the No. 1 worldwide in sales for Century 21 from 2002 to 2006, filed last week for Chapter 11 bankruptcy protection from creditors while he reorganizes to pay off his debts.
The 54-year-old said that even when his business was Century 21's top seller in 2006, he still lost money. Dague said that's because his sales fell 60 percent from 2005 to 2006, but he kept the same number of staff - and the same overhead - in his nine offices.
"This is the result of an exuberant market and us growing and, honestly, I had signed leases for nine offices. Now I have five," he said. "As you can imagine, the four landlords are not happy."
Rather than fighting it out in civil court - "I can't afford to fight the market and pay attorneys, too" - he went the route of bankruptcy. In court filings, Dague lists assets of between $10,000 and $100,000 and debts totaling between $100,000 and $1 million.
7 comments:
He should have leased jets to fly clients on weekend junkets to Bakersfield.
ROTFLMMFAO!
[takes bow..]
Thank you, thank you. I'll be here through the entire collapse. Try the veal but stay away from the kool-aid. Take my house... please! I tell ya, my house is so under water... ["How under water is it!?] My house is so under water the lawn boy wears flippers. Bada boom.
LIVE BY THE SUBPRIME
--- BY THE PRIME
I say when the Going gets Tough
the Tough Get(TOUGHER)
Ron: Where's the tip jar?
***still laughing.....***
Also happening in Nevada... (this is copyrighted to I didn't reprint all of it here)
Sep 5, 8:54 PM EDT
Lawyer for failed mortgage firm given Nevada mortgage post
LAS VEGAS (AP) -- A top lawyer for bankrupt New Century Financial Corp., once the nation's second-largest subprime lender and now the target of a federal securities investigation, took over Wednesday as commissioner of the Nevada Mortgage Lending Division.
Mendy Elliott, director of the Nevada Department of Business & Industry, confirmed the appointment of Joe Waltuch, formerly senior counsel of regulatory and legislative affairs at New Century.
I have to wonder if Boy Blunder was involved with this C-21 Vegas Broker or maybe it even went all the way up to {gasp} Steve Wynn??
Hey, Forclosure.com dude, can you check out foreclosures in Vegas area that might be related to David? Or anyone connected to him?
Remember he was very busy boy. Recent trips to Lost Wages. Hmmmm.....
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