Rouleur Report post Posted November 13, 2009 Mike, you are not being a smartass, but missing what I said. When you think about cost of an item, be it a Veyron or a Coke, you are paying for that item with NET dollars (or dollars after taxes). That means that he has to MAKE at least 4.6mm to cover that 3 million net. I know a lot of guys that are FAR richer than him and don't spend anything near what he does. If you add that to the homes, the boats, the OTHER cars, the restaurants, the big contributions all over town, the JETS (that is the real motherfucker of a cost, probably making the Veyron seem cheap comparatively speaking) and there is no way he is covering that. I think Mike is being conservative on the 10mm a month. And as for the discount off of MSRP, you are right on a new car. Here is the stick though, they raised the price a couple of months ago and the new MSRP is around 1.8mm for a regular Veyron. I am here to tell you this, they don't have 300k worth of margin in the car to get down to a 1.5mm sell price, so I was being kind on the 3mm number. If he bought used, and they are 2008 cars, he likely paid in the 1.1-1.4 range. Also, not being a smartass, just wondering. How does 3 million in Veyrons turn into 4.6 million figuring there is no delivery, and if your not pre ordering them, they seem to be available at a discount off MSRP Quote Share this post Link to post Share on other sites More sharing options...
ct1 Report post Posted November 13, 2009 Thats kind of what I wass getting at. 2 Veyrons alone is not a huge huge deal but along with the yachts, fleet of other cars, homes, etc, that should raise eyebrows. I know of some lawyers who make big money and don't live like that. There's billionaires here in town who don't spend like that. And I think the last part of your post is what people should take note of as most persons (U.S.) who are truley wealthy do not run around town with a mine's bigger and better than your's mentality, especially when you step back from S. Fl. and L.A. Further, the guys who spend outrageous sums of $ on cars are guys that are true collectors i.e R.L and Jay L. etc. While anyone can think of "high rollers" who flaunt it....keep in mind the guy over there in the corner in a pair of old blue jeans who just showed up in an f150 maybe the wealthiest of all. I'm a car guy and I get it, but what flips my switch is the old stuff so when I see someone spending $ like tomorrow is the last day of their life, a little red flag pops up as an indicator that something is amiss, whether newly rich, a scammer, or trying fill a whole in the soul. Then you start doing the math on what it really takes to purchase and maintain these things post tax and that number usually flushes out what is going on. Quite honestly, the ability to finance many of these things is what nails a lot people, in the long run. As an aside, I was speaking to friend of mine the other day who said he was flying over seas. He said "Its not so bad, we're taking the boss's BBJ." Thats a whole different level that quickly seperates the pretenders from those who are not. Quote Share this post Link to post Share on other sites More sharing options...
pockmark Report post Posted November 13, 2009 Mike, you are not being a smartass, but missing what I said. When you think about cost of an item, be it a Veyron or a Coke, you are paying for that item with NET dollars (or dollars after taxes). That means that he has to MAKE at least 4.6mm to cover that 3 million net. I know a lot of guys that are FAR richer than him and don't spend anything near what he does. If you add that to the homes, the boats, the OTHER cars, the restaurants, the big contributions all over town, the JETS (that is the real motherfucker of a cost, probably making the Veyron seem cheap comparatively speaking) and there is no way he is covering that. I think Mike is being conservative on the 10mm a month. And as for the discount off of MSRP, you are right on a new car. Here is the stick though, they raised the price a couple of months ago and the new MSRP is around 1.8mm for a regular Veyron. I am here to tell you this, they don't have 300k worth of margin in the car to get down to a 1.5mm sell price, so I was being kind on the 3mm number. If he bought used, and they are 2008 cars, he likely paid in the 1.1-1.4 range. Also, not being a smartass, just wondering. How does 3 million in Veyrons turn into 4.6 million figuring there is no delivery, and if your not pre ordering them, they seem to be available at a discount off MSRP Thanks Chris. I was just trying to understand your previous statement. So just to afford to own the 2 Veyrons, you would essentially have to be making a bare minimum of $4.6 million a year. To afford everything else, you have to be making well north of $15 million a year. Yes planes are a gigantic cost, and yachts can be too. The old money people I know dont spend stupid money on things like that. I know a guy that isn't crazy rich, but has about $40 million in property (Even in this economy), and drives a 2008 Ford F-150 with VINYL SEATS, AND ROLL UP WINDOWS, and their family car is a 1993 Suburban!!! As a rule of thumb, those who really go out of there way to flaunt it either dont really have it, or their posession of it is on borrowed time. Quote Share this post Link to post Share on other sites More sharing options...
TrentS Report post Posted November 14, 2009 High-ranking police officers guarded over Rothstein South Beach hot spot Casa Casuarina shuts down Quote Share this post Link to post Share on other sites More sharing options...
TrentS Report post Posted November 15, 2009 Rothstein's spending took off in 2005 Why hasn't Rothstein been arrested? Quote Share this post Link to post Share on other sites More sharing options...
abolfaz Report post Posted November 19, 2009 Say hello to Scott Rothsteins SLR... Quote Share this post Link to post Share on other sites More sharing options...
pockmark Report post Posted November 19, 2009 He bought the Ugliest stock slr on the planet. Now I am a little bit more excited about the arrest. Quote Share this post Link to post Share on other sites More sharing options...
jimdarcy Report post Posted November 20, 2009 this is getting bad fast... *TD BANK SUED, ACCUSED OF COMPLICITY IN ROTHSTEIN LAW FIRM FRAUD Quote Share this post Link to post Share on other sites More sharing options...
abolfaz Report post Posted November 21, 2009 this is getting bad fast... *TD BANK SUED, ACCUSED OF COMPLICITY IN ROTHSTEIN LAW FIRM FRAUD Worse, look at some of these docs... http://www.sun-sentinel2.com/news/pdfs/LawsuitExhibits.pdf Quote Share this post Link to post Share on other sites More sharing options...
Guest skokos Report post Posted November 21, 2009 Holy shit. Theres over a billion dollars in those trust accounts Who Is Irene Shannon? Quote Share this post Link to post Share on other sites More sharing options...
Guest skokos Report post Posted November 21, 2009 Maybe I am reading these wrong but did he as recently as last month have two accounts totaling over $60,000.00 set aside that he and only he has access to even after all this stuff was being found out about him and other assets being seized by the FBI? Correct me if Im wrong,im just trying to put together bits and pieces Quote Share this post Link to post Share on other sites More sharing options...
Malebomb Report post Posted November 21, 2009 Maybe I am reading these wrong but did he as recently as last month have two accounts totaling over $60,000.00 set aside that he and only he has access to even after all this stuff was being found out about him and other assets being seized by the FBI? Correct me if Im wrong,im just trying to put together bits and pieces Whats he going to do with 60k? Go buy a new 335i? Quote Share this post Link to post Share on other sites More sharing options...
Guest skokos Report post Posted November 21, 2009 LOL my bad. $60,000,000.00 Quote Share this post Link to post Share on other sites More sharing options...
abolfaz Report post Posted November 24, 2009 Rothstein quoted today: “You’re in a town full of thieves, and at the end of the day, everyone will see. I’ll leave it at that.’’ Good. The least this thief can do is out his co conspirators. Quote Share this post Link to post Share on other sites More sharing options...
abolfaz Report post Posted December 1, 2009 The other shoe is dropping tomorrow: http://www.miamiherald.com/416/story/13590...ments_Container http://www.sun-sentinel.com/news/columnist...4.column?page=2 I can't wait to see how many florida politicians he takes down... Quote Share this post Link to post Share on other sites More sharing options...
WheelsRCool Report post Posted December 1, 2009 Maybe I am reading these wrong but did he as recently as last month have two accounts totaling over $60,000.00 set aside that he and only he has access to even after all this stuff was being found out about him and other assets being seized by the FBI? Correct me if Im wrong,im just trying to put together bits and pieces Just wondering, but how does one have an account for up to $30 million (I am assuming each account is $30 million). Wouldn't the FDIC only insure that up to $100,000 if the bank was to fail...? Quote Share this post Link to post Share on other sites More sharing options...
Kevin2772 Report post Posted December 1, 2009 Funny how many of these are happening. Now Tim Durham (loaded guy on that millionaire show in Indianapolis who has that huge car collection and veyron) is now being investigated by the FBI for a multi hundred million dollar ponzi scheme...... Quote Share this post Link to post Share on other sites More sharing options...
jimdarcy Report post Posted December 1, 2009 got a new one in chicago burbs too http://chicagopressrelease.com/press-relea...ions-of-dollars Quote Share this post Link to post Share on other sites More sharing options...
vyce77 Report post Posted December 1, 2009 Just wondering, but how does one have an account for up to $30 million (I am assuming each account is $30 million). Wouldn't the FDIC only insure that up to $100,000 if the bank was to fail...? You're pretty funny Wheels. Would you recommend he opened and maintained 300 separate accounts? Quote Share this post Link to post Share on other sites More sharing options...
murclovr Report post Posted December 1, 2009 Funny how many of these are happening. Now Tim Durham (loaded guy on that millionaire show in Indianapolis who has that huge car collection and veyron) is now being investigated by the FBI for a multi hundred million dollar ponzi scheme...... Tim Durham was on that special with our very own LVeric!!!! Quote Share this post Link to post Share on other sites More sharing options...
Guest skokos Report post Posted December 1, 2009 Just wondering, but how does one have an account for up to $30 million (I am assuming each account is $30 million). Wouldn't the FDIC only insure that up to $100,000 if the bank was to fail...? The great over thinker. got a new one in chicago burbs too http://chicagopressrelease.com/press-relea...ions-of-dollars Ah thats chump change compared to these other big fish. Rothstein was spending that every other week You're pretty funny Wheels. Would you recommend he opened and maintained 300 separate accounts? :lol2: Quote Share this post Link to post Share on other sites More sharing options...
jimdarcy Report post Posted December 8, 2009 this is real $$ people!! http://www.bloomberg.com/apps/news?pid=206...9bpTE&pos=7 Quote Share this post Link to post Share on other sites More sharing options...
abolfaz Report post Posted December 23, 2009 Looks like Rothstein's wifes attorney is The Carcierge from F-chat! What a small, small world. Quote Share this post Link to post Share on other sites More sharing options...
WheelsRCool Report post Posted December 23, 2009 You're pretty funny Wheels. Would you recommend he opened and maintained 300 separate accounts? No, I just wasn't exactly sure how something like that worked. Quote Share this post Link to post Share on other sites More sharing options...
Blackberry Report post Posted December 23, 2009 Tim Durham was on that special with our very own LVeric!!!! LVeric was on that show? gimme a link... Quote Share this post Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.