Being Denny Hecker

Posted at 1:08 PM on July 2, 2009 by Bob Collins (9 Comments)
Filed under: Economy

No matter how difficult your financial condition, reading the U.S. Bankruptcy Court filing for Twin Cities auto dealer Denny Hecker may make you feel comparatively lucky. Here's the filing.

Hecker owes millions to banks and automobile makers, as well as hundreds of thousands to Las Vegas casinos and credit card companies.

Hecker has $24,000 in cash in the bank. He's got $766,000 $766 million in debts.

Here's what the filing reveals about the lifestyle of Denny Hecker:

>> He has $35,000 worth of watches, including three 18k gold Rolex watches.

>> His wedding ring is worth $24,000.

>> He has seven snowmobiles, three scooters, and six four-wheelers, two pontoon boats, seven Jet-Skis and a yacht (which has been repossessed).

>> He owns $25,000 worth of clothing.

>> He owns three condos in Two Harbors, a home in Medina, a home in Crosslake, two condos in Bayport, a condo in Plymouth

>> He owes $450,000 in gambling losses at the Mirage, $400,000 at the Bellagio, and $100,000 at the Hard Rock in Las Vegas.

It doesn't appear that he personally owns a car.

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Comments (9)

Ah. Irony.

Posted by Pam Matchie | July 2, 2009 1:59 PM

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He built his own house. Let him burn in it.

Posted by Tim Eller | July 2, 2009 2:56 PM

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Yawn. Small potatoes these days.

Posted by sm | July 2, 2009 3:02 PM

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Wow, that's a lot of reading to have to do! I don't envy you 8-|

I have to say, I'm happy to watch this happen, as sick as that might sounds. I've always disliked this guy.

Posted by SeanG | July 2, 2009 3:03 PM

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Wait, where's the phone he used to phone in all his commercials?

Posted by SeanG | July 2, 2009 3:04 PM

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i believe the germans have a word for just this occasion: schadenfreude.

Posted by Dan | July 2, 2009 3:08 PM

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Now, to be clear, does that three-quarters of a BILLION he has in debt include all the cars at all his dealerships that he took loans out to purchase?

The reason I'm asking is that I wonder how common it is for major dealers of any commodity to have massive debt, since they often have to buy the items (through massive borrowing) that they turn around and sell.

Or maybe I'm way off, and he's just a debt junkie.

Posted by Kevin | July 2, 2009 3:31 PM

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Easy come, easy go. Sounds like he is used to living on the edge. Why would he have needed to own a car?

Posted by Minn Whaler | July 2, 2009 3:32 PM

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bad guy i used to work for him i got hurt on the job and now im trying to get info abought my case he is no were to be found bad man thats all i have to say

Posted by Tammy holmes | September 9, 2009 12:09 AM

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