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Saturday, December 15, 2012

Matt Bush to serve 3 years

Former No. 1 draft pick Matt Bush has agreed to a plea bargain in his DUI hit-and-run case that includes a prison sentence of at least three years on top of time already served, his father has told the Tampa Bay Times.

“He’s taking it pretty good,” Daniel Bush said, according to the newspaper. “He’s not crying or sulking. He’s preparing for it. Everybody in our family is backing him up.”

The former Tampa Bay Rays minor league pitcher has reportedly been held on a $440,000 bond since March in Charlotte County on Florida’s lower Gulf Coast on seven charges, counts that include leaving the scene of an accident that seriously injured a motorcyclist.

Court records also showed Bush was driving with a suspended license. The Florida Highway Patrol said Bush kept driving after hitting a motorcycle, whose rider was hospitalized for weeks with numerous serious injuries.

“Literally, the tire on the SUV ran over the driver’s head,” a witness told WBBH-TV in Fort Myers. “Without the helmet, the gentleman would have been dead instantly.”

Thanks to Butch.

Repoz Posted: December 15, 2012 at 10:42 AM | 52 comment(s) Login to Bookmark
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   1. Shooty Survived the Shutdown of '14! Posted: December 15, 2012 at 11:30 AM (#4325450)
Tell Kevin Towers THIS is a kid with an attitude problem.
   2. J.R. Wolf Posted: December 15, 2012 at 11:33 AM (#4325452)
He's the poster child for "bad makeup."
   3. robinred Posted: December 15, 2012 at 11:40 AM (#4325456)
The Ryan Leaf and Matt Bush draft picks remain sources of bitter jokes in the SD sports scene. I think Leaf may be incarcerated now as well (the Chargers took him #2 the year the Colts drafted Peyton Manning).
   4. Lassus Posted: December 15, 2012 at 11:43 AM (#4325458)
He's the poster child for "bad makeup."

No.
   5. flournoy Posted: December 15, 2012 at 12:58 PM (#4325496)
Worst draft pick of all time?
   6. You Know Nothing JT Snow (YR) Posted: December 15, 2012 at 12:59 PM (#4325498)
That's 3 ####### years!
   7. boteman is not here 'til October Posted: December 15, 2012 at 01:03 PM (#4325501)
“He’s taking it pretty good,” Daniel Bush said,


He'll be taking it even better in prison.
   8. JJ1986 Posted: December 15, 2012 at 01:36 PM (#4325513)
Worst draft pick of all time?


I think Chilcott was probably worse.
   9. Pasta-diving Jeter (jmac66) Posted: December 15, 2012 at 01:45 PM (#4325520)
Worst draft pick of all time?

the first round of that 2004 draft is pretty bad overall, except for the guy picked second
   10. Ivan Grushenko of Hong Kong Posted: December 15, 2012 at 02:09 PM (#4325535)
Jered Weaver is pretty good. Dustin Pedroia and Ben Zobrist also were drafted that year.
   11. slackerjack Posted: December 15, 2012 at 02:14 PM (#4325538)
the first round of that 2004 draft is pretty bad overall, except for the guy picked second


Glancing at the names, I figured you were overstating things, but the conversion rate for that round (so far) is very low:

Jered Weaver, Homer Bailey, Billy Butler, Stephen Drew, Gio Gonzalez, Huston Street

Just out of curiosity, I took a look at 2003 and 2005

2003 was solid:

Delmon, Rickie Weeks, Markakis, Maholm, Jon Danks, Aaron Hill, David Murphy, Chad Billingsley, Carlos Quentin, Adam Jones

2005 was off the charts good:

Justin Upton, Ryan Zimmerman, Ryan Braun, Alex Gordon, McCutcheon, Ellsbury, Garza, Rasmus, Buchholz, Jay Bruce, Maybin

I suppose WAR/year is not a bad metric to use to judge the relative strength of drafts. Though you would need to wait a few years before you could start comparing years. Are there any web site that do that?
   12. Swedish Chef Posted: December 15, 2012 at 02:38 PM (#4325553)
I thought he had enlisted in the Marines or something when I saw the headline, guess he'll put off growing up for another year/decade.
   13. cardsfanboy Posted: December 15, 2012 at 02:56 PM (#4325571)
the first round of that 2004 draft is pretty bad overall, except for the guy picked second


That link makes me wish there was a sort options that you can sort by "war" for all players drafted in a particular year.
   14. zachtoma Posted: December 15, 2012 at 05:17 PM (#4325653)
Well it was touch and go there for awhile with this kid's career but after 3 years' service time, he should finally be eligible for his first big arbitration payday.

Oh...
   15. Arbitol Dijaler Posted: December 15, 2012 at 06:19 PM (#4325680)
IT'S A COOKBOOK!!!!
   16. AJMcCringleberry Posted: December 15, 2012 at 06:29 PM (#4325687)
I should've known someone would make an arbitration joke before I got in here.
   17. Joe Kehoskie Posted: December 15, 2012 at 10:17 PM (#4325814)
Matt Bush signed for $3.15 million back in 2004, yet he's been sitting in jail since March with bond set at $440,000. Unless he just decided to get a head start on serving his time, it appears he has neither the $440,000 nor the $44,000 bail-bond fee. Even by athlete standards, that would be kind of amazing.
   18. Jose Can Still Seabiscuit Posted: December 15, 2012 at 10:31 PM (#4325817)
Matt Bush signed for $3.15 million back in 2004, yet he's been sitting in jail since March with bond set at $440,000. Unless he just decided to get a head start on serving his time, it appears he has neither the $440,000 nor the $44,000 bail-bond fee. Even by athlete standards, that would be kind of amazing.


That doesn't seem that outrageous too me. Take out a third for taxes and agent fees and you're down to 2 mil right out of the gate. An early twenty something blowing through two million bucks in nearly a decade seems pretty predictable. I'd bet most guys blow through their signing bonus pretty quickly. Buy a snazzy car, live the high life a bit, maybe pay off mom and dads house...I'd take two million if someone gve it to me but I also think that if I was 21 and got it I wouldn't have it when I was 30.
   19. Joe Kehoskie Posted: December 15, 2012 at 11:11 PM (#4325829)
Perhaps, but there's a big difference between spending and "blowing." It's one thing to be illiquid, but it's quite another to spend $2 million and end up with little or nothing in assets no more than seven years later. You'd have to spend $6,000 per week to run through $2 million in 7 years. (But, obviously, Matt Bush wasn't the sharpest tool in the shed to begin with.)
   20. Crispix reaches boiling point with lackluster play Posted: December 16, 2012 at 12:11 AM (#4325860)
Or share the money with your family and friends. Which is what most athletes do.
   21. bond1 Posted: December 16, 2012 at 12:41 AM (#4325869)
So a Bush and a Leaf didn't work for San Diego.
But Trout and Salmon(3rd round 1989) worked well for the Anaheim. Jury's still out on Conger (1st 2006)
   22. PreservedFish Posted: December 16, 2012 at 01:22 AM (#4325879)
Perhaps, but there's a big difference between spending and "blowing." It's one thing to be illiquid, but it's quite another to spend $2 million and end up with little or nothing in assets no more than seven years later. You'd have to spend $6,000 per week to run through $2 million in 7 years.


Oh please, he could blow through half of it in the first year if he's an idiot, then you just need a few bad investments and a couple baby mommas and some more dumb spending and there goes the rest. If lottery winners can find themselves penniless in years Bush could do it in months.
   23. Joe Kehoskie Posted: December 16, 2012 at 02:29 AM (#4325896)
I guess we have a lot of big spenders here at BBTF. I like to spend money as much as the next guy, but it seems like it would be hard to spend $2 million and have ~$0 in assets to show for it. (And the fact his family and friends have apparently let him sit in jail for 9 months rather than spend $44,000 on a bail bond tells me he either didn't share with his family and friends or they promptly wasted the money as well. $44,000 should be a one-call home-equity loan on a hypothetical paid-off house in the San Diego area.)
   24. PreservedFish Posted: December 16, 2012 at 02:57 AM (#4325903)
I am not a big spender at all - I'm just aware of how stupid people are.

• By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

• Within five years of retirement, an estimated 60% of former NBA players are broke.


How (and Why) Athletes Go Broke
   25. PreservedFish Posted: December 16, 2012 at 03:06 AM (#4325905)
Love that article. It's nuts.

When former NBA guard Kenny Anderson filed for bankruptcy in October 2005, he detailed how the estimated $60 million he earned in the league had dwindled to nothing. He bought eight cars and rang up monthly expenses of $41,000, including outlays for child support, his mother's mortgage and his own five-bedroom house in Beverly Hills, Calif.—not to mention $10,000 in what he dubbed "hanging-out money." He also regularly handed out $3,000 to $5,000 to friends and relatives.


   26. Joe Kehoskie Posted: December 16, 2012 at 04:05 AM (#4325917)
I'm with you re: the stupidity of athletes when it comes to money. My point is simply that if you spend $2 million but don't even have a house or car or a couple Rolexes you can sell if/when you need bail money, you've really been dumb with your money.
   27. Bhaakon Posted: December 16, 2012 at 04:18 AM (#4325919)
When former NBA guard Kenny Anderson filed for bankruptcy in October 2005, he detailed how the estimated $60 million he earned in the league had dwindled to nothing. He bought eight cars and rang up monthly expenses of $41,000, including outlays for child support, his mother's mortgage and his own five-bedroom house in Beverly Hills, Calif.—not to mention $10,000 in what he dubbed "hanging-out money." He also regularly handed out $3,000 to $5,000 to friends and relatives.


Even if you assume that half his salary went to taxes (which is high), it would have taken 49 years to burn through the remaining 30M at 51K a month. Those must have been some expensive cars.
   28. PreservedFish Posted: December 16, 2012 at 11:59 AM (#4325962)
The article states that lots of these guys invest in terrible businesses. That's money that can just disappear.
   29. Swedish Chef Posted: December 16, 2012 at 12:15 PM (#4325965)
While I'm pretty sure that I have enough common sense to avoid going broke like that, I'm certain that I could burn a couple of million in a year just doing fun stuff.
   30. J.R. Wolf Posted: December 16, 2012 at 12:17 PM (#4325968)
Kareem Abdul Jabbar was in terrible financial shape when he retired just due to poor investment choices. Billy Beane's parents lost his bonus money on a bad investment. It goes on and on.

People with money who didn't earn it by means requiring intelligence often make unintelligent investment and spending decisions. Shocking, no?

Victims of bad investment choices aside, if you give $60 million to a rockhead he'll find a way to make himself broke before long. Investing it and living off the income like a normal person? Not on the agenda. That would require THINKING.
   31. Der-K and the statistical werewolves. Posted: December 16, 2012 at 12:38 PM (#4325981)
If lottery winners can find themselves penniless in years Bush could do it in months.

Authorities believe alcohol was involved.
   32. Walt Davis Posted: December 16, 2012 at 05:37 PM (#4326112)
Where are the agents in all this? Not necessarily the Bush cases but Kenny Anderson (who I always liked). Hook your client up with a non-crooked financial advisor. Negotiate that half the salary goes into a trust they can't access until they're 35.

It certainly makes long-term deferred money look more attractive now doesn't it? I have no idea how much money Bonilla may have wasted over the years but now he's hopefully old enough to be out of his young and stupid stage and he's got a couple of million rolling in every year.

People with money who didn't earn it by means requiring intelligence often make unintelligent investment and spending decisions. Shocking, no?

Like the Wilpons!
   33. RMc's desperate, often sordid world Posted: December 16, 2012 at 06:23 PM (#4326146)
I still blame Bush.
   34. J.R. Wolf Posted: December 16, 2012 at 08:04 PM (#4326208)
@Walt Davis: exactly right.
   35. Jack Carter, calling Beleaguered Castle Posted: December 16, 2012 at 11:51 PM (#4326331)
Where are the agents in all this? Not necessarily the Bush cases but Kenny Anderson (who I always liked). Hook your client up with a non-crooked financial advisor. Negotiate that half the salary goes into a trust they can't access until they're 35.


Having just finished doing trust research, I don't know that it's possible to immunize yourself against debt by stashing some of your money in a trust.

While you might be able to create a barrier against some bad decisions, or make it more difficult to make bad decisions by making it more difficult to get at your own money, I'm not so sure you can limit your liability in a lot of cases just by having some of your money in a trust.

Also, I don't know that you wouldn't be able to break your own agreement. If you're bad enough with money to need to hide it from yourself, you're probably capable of getting desperate enough to need to get at it.

It certainly makes long-term deferred money look more attractive now doesn't it?
Sure, but if I go into debt, that deferred money can be taken at the point it becomes available to me.

I've always thought that if I hit the really big lottery I'd stash 500k in a rock wall somewhere such that if everything really went to hell, at least I could squeak by for a while.
   36. snapper (history's 42nd greatest monster) Posted: December 17, 2012 at 12:05 AM (#4326346)
Having just finished doing trust research, I don't know that it's possible to immunize yourself against debt by stashing some of your money in a trust.

But you can by setting up retirement accounts, and buying an expensive home in Florida.

OJ Simpson had a healthy income and huge house shielded from the Goldman's judgement against him b/c he had bought annuities in some sort of pension vehicle, and lived in FL.
   37. Joe Kehoskie Posted: December 17, 2012 at 03:25 AM (#4326470)
It certainly makes long-term deferred money look more attractive now doesn't it?

In theory, but not necessarily in reality. The advent of deferred compensation brought with it a cottage industry of people who offer to buy the rights to athletes' deferred compensation in exchange for an upfront payment.

Like with below-market long-term deals, this is another area in which agents often face an ethical conundrum: Doing the right thing for the client could make it tougher to get future clients and/or put fewer dollars in the agent's pocket.
   38. Jack Carter, calling Beleaguered Castle Posted: December 17, 2012 at 03:32 AM (#4326472)
snapper--I don't doubt it, hence my "I don't know".

I'm a little surprised, though (not skeptical, just surprised) that there would be a way of evading debt that straightforward. I suppose I should figure that leaving ways out would be in the interest of the wealthy, and would therefore appear in the law like mushrooms during a damp summer.

Seems wrong, somehow, that I should be able to stash wealth, go wreak havoc, then enjoy that which I have kept immune to recovery.
   39. Swedish Chef Posted: December 17, 2012 at 04:38 AM (#4326473)
I've always thought that if I hit the really big lottery I'd stash 500k in a rock wall somewhere such that if everything really went to hell, at least I could squeak by for a while.

Yeah, and then suddenly one day you're using your gold coins as collateral to shore up your sinking MMO like Schilling.
   40. Jack Carter, calling Beleaguered Castle Posted: December 17, 2012 at 07:17 AM (#4326477)
Is he getting burned that badly? Ouch.
   41. Bring Me the Head of Alfredo Griffin (Vlad) Posted: December 17, 2012 at 10:38 AM (#4326548)
It's one thing to be illiquid, but it's quite another to spend $2 million and end up with little or nothing in assets no more than seven years later.


I once saw a fascinating documentary about a former ballplayer who blew through $30M without retaining any tangible assets.
   42. RoyalsRetro (AG#1F) Posted: December 17, 2012 at 10:43 AM (#4326553)
If lottery winners can find themselves penniless in years Bush could do it in months.


Heck, if the owners of the freakin New York Mets find themselves nearly bankrupt, its not surprising that athletes could do the same.
   43. Flynn Posted: December 17, 2012 at 10:53 AM (#4326562)
OJ Simpson had a healthy income and huge house shielded from the Goldman's judgement against him b/c he had bought annuities in some sort of pension vehicle, and lived in FL.


Wasn't OJ's NFL pension a big source of income they couldn't touch? I recall his annual pension being something like $130K a year.
   44. snapper (history's 42nd greatest monster) Posted: December 17, 2012 at 11:08 AM (#4326575)
Wasn't OJ's NFL pension a big source of income they couldn't touch? I recall his annual pension being something like $130K a year.

Yes. But he also had annuities he had purchased himself that were shielded in retirement plans.

Seems wrong, somehow, that I should be able to stash wealth, go wreak havoc, then enjoy that which I have kept immune to recovery.

Yes, it does. I imagine the idea is that you don't want someone totally wiped out by a lawsuits and then left to be a burden on the state.

They should however, cap the exemption. e.g. you can keep one primary residence up to $500K, and pension income up to $75K p.a. A person with huge judgements against them shouldn't be left wealthy, just b/c the assets are in a certain form.
   45. BDC Posted: December 17, 2012 at 11:25 AM (#4326592)
From the headline, I assumed he'd signed with the Astros.
   46. snapper (history's 42nd greatest monster) Posted: December 17, 2012 at 11:29 AM (#4326596)
From the headline, I assumed he'd signed with the Astros.

The judge tried, but the appeals court struck down that sentence as cruel and unusual.
   47. bunyon Posted: December 17, 2012 at 11:32 AM (#4326600)
From the headline, I assumed he'd signed with the Astros.

He declined their offer in favor of Florida's.
   48. Shooty Survived the Shutdown of '14! Posted: December 17, 2012 at 11:41 AM (#4326613)
The judge tried, but the appeals court struck down that sentence as cruel and unusual.

For Bush or the Astros?
   49. RB in NYC (Now Semi-Retired from BBTF) Posted: December 17, 2012 at 11:54 AM (#4326627)
For Bush or the Astros?
Yes
   50. Moeball Posted: December 17, 2012 at 12:33 PM (#4326682)
I like to spend money as much as the next guy, but it seems like it would be hard to spend $2 million and have ~$0 in assets to show for it.


Child's play for Montgomery Brewster!
   51. 1k5v3L Posted: December 17, 2012 at 12:39 PM (#4326688)
Tell Kevin Towers THIS is a kid with an attitude problem.
Kevin Towers wants to swap a Dbacks minor leaguer for Matt #### Bush - the guy is all locked up on a 3 year deal already! Towers practically invented Bush!
   52. Bring Me the Head of Alfredo Griffin (Vlad) Posted: December 17, 2012 at 01:07 PM (#4326739)
Child's play for Montgomery Brewster!


You owe me a Coke, dammit.

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