View Single Post
Old
01-28-2013, 01:58 PM
  #2
The Underboss
Mod Supervisor
HFBoards
 
The Underboss's Avatar
 
Join Date: Dec 2006
Location: NY/FL
Country: United States
Posts: 23,131
vCash: 50
Typical business move to force the loan holder to refinance or adjust payments. If you watched American Chopper, Paul Sr. did the same things with OCC, defaulted to work out better loan terms and payments.

Quote:
Originally Posted by lorwood View Post
"Wang hotel's loan faces 'imminent default'"

http://www.newsday.com/business/wang...ault-1.4516253

Just to be clear the debt will in all probability be restructured so the Marriott and Wangs ownership of the hotel will in all likelihood continue.

I don't think it's far fetched to assume this was a factor in the move to Brooklyn

Lets all hope that Wang does not view the Marriott and the Islanders as tied to the hip and decide the best use of increased revenue from the team should be used to prop up other struggling ventures he is part of including his continued involvement in the HUB.

On the other hand maybe this is a factor in a decision to sell the team.

Which is fine by me.

__________________
The Underboss is offline   Reply With Quote