Arkansas Coach John L. Smith Realizes He's Actually $40 Million In Debt, Not $25 Million

John L. Smith is even more broke than he initially thought. He first filed for bankruptcy on Sept. 6. In a subsequent filing, on Sept. 19, he reported $25.7 million in liabilities and $1.2 million in assets. You don't have to be a CPA to know that this is a bad cash flow position. But wait, it gets worse. Smith filed… »10/03/12 7:15pm10/03/12 7:15pm