Phoenix LXIV: Will You Still Need Me, Will You Still Read Me, on Thread LXIV?
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11-20-2012, 12:04 PM
Join Date: Feb 2010
Location: The Village
Originally Posted by
I don't know about that didn't Westgate had a new store chain moving in recently? If they put the building on the block maybe they get a taker probably not for the whole cost of construction but maybe enough to cover the remaining debt. But that would involve telling the NHL to take a hike. And the whole mess is more about losing face than money anyway.
... not sure I follow you here madhi. Tanger Discount Stores bought property adjacent to Westgate & are building a big box mall with dozens upon dozens of merchants selling discount name brand clothing & accessories. They didnt lease space from iStar Financial who foreclosed on Ellman & took over Westgate when he fell behind in making his $200M+ loan payments. They held an auction last year with a reserve price of $40M and had no takers. Subsequently, theyve hired a Management Firm to lease out space, look after the place. Last I heard or read was they planned to hang on to Westgate, wait out the still somewhat sagging economy, probably sell when things get better. Credit Suisse as well got left holding the bag to the tune of $500M by Ellman, foreclosing on vacant land also adjacent to Westgate against unpaid loans. They too held an auction; again, reserve price of $200M not met.
Originally Posted by
Again, I wonder what "interest" is driving Clark to the point of
.... Lately she has this whole tone of
going on, just wonder if she's got something serious to lose behind the scenes if/when this all goes south.
... she went down the Rabbit Hole quite some time ago. Bought into the false schemes & dreamy numbers hook line & sinker. Clings fast to a vision that is wholly impracticable, irrational. Lost at sea. An artistic and benevolent nature that is wholly unsuited to the nasty games played by civil servants, politicians, developers and pro sports team owners, wannabe owners & leagues. Beyond her comprehension, pay grade. Refuses to accept she's been & is still apparently being hoodwinked despite massive evidence to the contrary. Its easy to attack her, however, Im going to the high road here, as I think she's more deserving of pity than anything else. She's a Gambler, refuses to accept she's got a problem, that people with power at any and all levels, those with or seeking wealth/power can be corrupt/corrupted. I think she's just far to naive' to be "on the take" herself though TL. Cant see that, what benefits of graft she might be the recipient of. I dont read any criminality in her makeup. Just innocently & foolishly high minded.
Last edited by Killion: 11-20-2012 at
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