Advertisement

Archive for Sunday, February 20, 2011

Lawrence City Commission candidate Sven Alstrom still under orders of 2004 bankruptcy filing

February 20, 2011

Advertisement

Lawrence City Commission candidate Sven Alstrom confirmed to the Journal-World that he’s still under the orders of a personal bankruptcy filing from 2004.

Alstrom said the filing was a result of a downturn in his architectural business in Aspen, Colo., following the terrorist attacks in 2001.

“I’m part of a cyclical industry,” Alstrom said. “I feel like there is not the stigma attached to it that there used to be because a lot of people have had to go through this.”

According to Alstrom’s bankruptcy filing from July 1, 2004, he had assets of about $34,890 vs. liabilities of about $86,500. Among the debts that he had not paid at the time of the filing were $11,589 in unpaid taxes to the Internal Revenue Service and the state of Colorado dating back to 2000.

Alstrom said his finances are now in better order as business has started to improve. He said his bankruptcy is scheduled to be discharged May 1.

“I really feel like it is over,” Alstrom said. “I feel like it is behind me.”

Comments

prospector 3 years, 1 month ago

petronius (Sven Alstrom) replies…

prospector - what a crock.

the situation was part of the post 9/11 real estate & construction down - cycles which then really fell off of the cliff in 2008. this candidate exhausted his IRA in paying off debts. Later he found out that IRA's are exempt.


"what a crock"

Sven, you are the one that is full of it.

translation

This candidate, being a know-it -all, did not consult a lawyer or accountant about bankruptcy ( or maybe they were who you owed money). This candidate could have gigged so many more people out of their hard earned money if he had only known.

Does writing in the third person help you emotionally separate yourself from the situation you got yourself into? Man up, no one to blame but yourself. I am glad to know , due to your ignorance of the law, you did not take more of other peoples money.


"...the reality is that most businesses do not operate in the same up & downs as the construction business."

I am in an industry that had over a 30% reduction in employment in the 1990's. As an independent consultant my debt went from a normal year's income to more than five years. I did everything possible to not go bankrupt. I did it the hard way. You took the easy way leaving your misery to others by not giving them back the money you took.

"simply look at local business in Kansas to see what has happened to many construction companies since 2002 and why there has been a lot of consolidation in the industry"

translation

I am as foolish as a lot of people that thought their gravy train would keep chugging along.

Some adapt, others go bankrupt.

0

svenway_park 3 years, 1 month ago

I am interested to learn why in recent years that Mr. Alstrom has signed his name in "letters to the editor" in submissions to the Aspen newspaper reflecting an Aspen place of being, if not residency.

He will defend this in saying he "maintained an office in Aspen" and that this indication was simply a reflection of his business addresses.

I would suggest that a one-person professional firm that was and is highly under-employed really had no second office in Aspen, other than a courtesy mailing address.

He maintained a "vanity" presence in Aspen, because of what Aspen means. He really did not fully accept his relocation to Lawrence. Nor does he yet. Check out his bumper stickers on that white Volvo.

So, do you want a wanna-be Aspenite to be your Commissioner?

I think these are fair questions.

0

svenway_park 3 years, 1 month ago

I knew this was out there...and I am not totally convinced there is not another earlier one......but every time I alluded to it (bankruptcy), Mr. Alstrom would zap my comments on this forum. Knowing this stuff was fully discoverable since he is a candidate, he did the right thing with the LJW to admit (at least some of) his sins.

Likewise, he never previously ever fessed up properly to explain why a 59-year old individual had to depend upon a testamentary trust from his elderly ma-ma to own his (non-ecological) house purchase of the concrete house in which he lives. Well, he couldn't borrow money, if he actually had any equity, because he was bankrupt.

Oh, he would spin about tax benefits, title issues, and they were all nonsense and lies. And that is only a part of the problem.

0

Flap Doodle 3 years, 1 month ago

What does your first sentence (which is totally full of wild blueberry muffins) have to do with your second sentence, bub?

0

KUrolls 3 years, 1 month ago

Terrorist attacks are Bush's fault. Bankrupt commisioners are better than none.

0

prospector 3 years, 1 month ago

“I’m part of a cyclical industry,” Alstrom said. “I feel like there is not the stigma attached to it that there used to be because a lot of people have had to go through this.”


http://www.theatlantic.com/business/archive/2009/02/what-causes-personal-bankruptcy/4683/

What causes personal bankruptcy?

I was going to cite job loss as a major cause of bankruptcy in the previous post, which is the conventional wisdom. But this paper argues it isn't true:

This paper utilizes the population of personal bankruptcy filings in the state of Delaware during 2003 and finds that household expenditures on durable consumptions, such as houses and automobiles, contribute significantly to personal bankruptcy. Adverse medical conditions also lead to personal bankruptcy filings, but other adverse events such as divorce and unemployment have marginal effects. Over-consumption makes households financially over-stretched and more susceptible to adverse events, which reconcile the strategic filing and adverse event explanations.

http://www.gsm.ucdavis.edu/uploadedFiles/Faculty/Directory_and_Profiles/personal_bank.pdf

According to Zhu, having a serious medical condition makes you 50% more likely to file for bankruptcy, but not because of medical bills; medical bills are only a very small percentage of the overall debt of bankrupts, and are not significantly correlated with higher credit card debt, which one would expect if people were keeping down their medical bills by charging them to Visa. Presumably it's the income effect of disability or caretaking responsibilities.

Job loss may precipitate bankruptcy, but bankrupts don't report being laid off at a significantly higher rate than the control group. The difference is, the control group had savings to cover its financial emergency.

-------------------------------------------

The fact is Sven's over consumption is the reason. Sven, you do not practice what you preach. This is the proof.

The self-proclaimed individualist states "...because a lot of people have had to go through this." Some had a good reason and some are scaffolds that just don't want to pay their bills. Which are you?

I feel that a stigma should be attached to people that take, use, and never pay back other peoples money. There is no stigma attached to being a greeter at Walmart so you can pay your obligations. Then you would deserve my vote.

/No disrespect to the fine people of Walmart

0

Flap Doodle 3 years, 1 month ago

Yeah, this stayed under the radar for a while.

0

autie 3 years, 1 month ago

Maybe he should have been a consultant for Jeffersons. Down turn my eye. Poor management is more like it.

0

gl0ck0wn3r 3 years, 1 month ago

Wow this got buried. I wonder what projects Sven has going that allows him to suggest that the whole thing should be resolved in May?

0

Andini 3 years, 1 month ago

How did this article slip through the cracks of Sven's "wingnuts" without a comment until today?

0

boxers_or_briefs 3 years, 1 month ago

Nothing is ever "over" Sven. Good luck in the future.

0

Commenting has been disabled for this item.