Dave Litster 
Member since Oct 15, 2009

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Re: “City Council 4

This is from Dave Litster
Two things I want to share:

1) I think it’s regrettable that people are focusing on personal attacks and not on the central issues facing the City of Boise. There are pressing problems we can solve together regardless of who wins these city council races, and that’s where we need to focus our energy.

2) Perhaps because of space constraints, I don’t believe the article posted above communicated the accurate picture of the circumstances of my bankruptcy, so I enclose below a complete statement.



STATEMENT FROM DAVE LITSTER ON HIS BANKRUPTCY FILING

I moved back to Boise in 1995 to join a local start up food technology company, Lanson Enterprises, Inc. I had understood from the founder that when I joined the company that financing would materialize for the expansion he then had underway beginning in 1995. This was a very exciting new business venture that I was committed to.

Unfortunately, I ended up helping fund various substantial ongoing expenses on my credit cards in an effort to help the business succeed. I was reassured that when the financing arrived, I would be reimbursed.

However, the financing didn’t materialize. And after one year I reluctantly left the company, then saddled with $80,000 in credit card debt.

I then took a job with Micron PC in Nampa. For the next six years I continued to make payments on the debt, hoping to pay it off.

My son then developed cancer in 2000, which added additional financial burdens.

Finally, when Micron cut back the salaries of the management level staff in 2001, I unfortunately had to file for bankruptcy. The debt I discharged in bankruptcy was limited to $82,000 in credit card debt. I reaffirmed and continued paying on my other obligations, including my home ($147,000), automobile, and other consumer debt.

This whole experience has given me a deep appreciation for the struggles the average small business owner and local families have to deal with. That is why I am so committed to reducing the size of government and our tax burden.

I would love to run for political office with a problem-free past, but a recent endorsement statement of Max Black, Chairman of the House Business Committee in the Idaho Legislature adds some perspective:

“Dave understands first-hand both the pressures of raising a family and the day to day challenges facing private enterprise. We need more, not less, of that experience on the Boise City Council.” --Max Black, October 21, 2009

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Posted by Dave Litster on 10/22/2009 at 10:58 AM

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