Mo' Money Mo' Problems.
http://www.cnn.com/2009/CRIME/04/02/vick.bankruptcy/index.html?iref=mpstoryview
NEWPORT NEWS, Virginia (CNN) -- Suspended NFL quarterback Michael Vick will go to work for a construction company in Newport News, Virginia, after he leaves federal prison for bankrolling a dogfighting operation, his lawyer said Thursday.
Football player Michael Vick listens as his lawyers make the case for Chapter 11 bankruptcy.
The details emerged in a Chapter 11 confirmation hearing in Virginia Eastern Bankruptcy Court to determine how Vick, 28, will work his way out of bankruptcy.
Vick's lawyer, Michael Blumenthal, told the court that the embattled footballer will take the stand first thing Friday and explain how he intends to turn over a new leaf after spending nearly two years in prison on a federal conspiracy charge.
Vick's 23-month sentence ends in July, but he is expected to be released from the federal penitentiary in Leavenworth, Kansas, in May and serve the remainder of his sentence in home confinement, most likely in Virginia. He is a native of Newport News.
The sports agent who landed Vick's landmark 10-year, $140 million contract with the Atlanta Falcons also testified that he expects Vick will be back in the game as soon as September -- if the NFL reinstates him.
Vick is in great shape and could once again command millions of dollars if he returns to football, Joel Segal told the court.
The decision to reinstate Vick rests with NFL Commissioner Roger Goodell, with whom Segal said he had consulted.
Vick was suspended from the NFL after his conviction but remains under contract with the Falcons, Segal said, though he does not expect the Falcons to retain Vick's rights if he is reinstated.
Vick and many of his creditors are depending on a return to football as his main source of income. But Segal admitted that he has no way of knowing whether Vick will be reinstated, because the decision lies with Goodell.
In the meantime, Vick is ready to "get back in the community in a positive light" and demonstrate remorse for his actions, Segal said.
He has agreed to participate in a documentary about him that will net him $600,000, Segal said. He will also work 40 hours a week for W.M. Jordan, a construction company based in Newport News.
The employment is not part of the official 61-page agreement tentatively worked out between's Vick's lawyers and numerous creditors.
The parties involved in the hearing will continue to present evidence and testimony in an effort to convince the judge that Vick qualifies for Chapter 11 bankruptcy.
Attorneys and representatives from the creditors, including Bank of America, the Atlanta Falcons and the City of Newport News, to name a few, packed the courtroom Thursday as the hearing got under way.
Vick's mother sat in the gallery with his fiancée, who blew him a kiss during one break in the proceedings.
Among the terms included in Vick's plan of reorganization:
• Vick will retain the first $750,000 of his income.
• A percentage of his income above $750,000 will go to a trust fund.
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
