Take a hint
Somebody up there is trying to tell the Portland City Council something. The same day they vote to re-do PGE Park yet again for a private sports team that will never be able to pay the mortgage -- and to kick the Portland Beavers baseball team to the curb -- a light fixture crashes at the stadium and requires that the night's game be postponed.
| Posted at 4:14 AM | Permalink |
|
Comments (10)
Well Nick, the fish, caved in and couldn't stay the course. So it's full steam ahead for Bankster Jr.
Now maybe SB Randy will take him to the Ringside for more plotting of of evil-doings.
Posted by KISS | June 25, 2009 6:13 AM
Disgusting!
I guess this just proves that nearly everyone has a price.
I wonder if Fritz will wake up with a horse head in her bed, of if she and Nick drew straws for the 'honor' of voting yes to this debacle?
Posted by portland native | June 25, 2009 8:07 AM
Am I missing something? Why won't the Timbers ever be able to pay the mortgage? Is the mortgage like $800 million? Are you guys building an NFL stadium?
Posted by Gazza | June 25, 2009 8:47 AM
Gaza: Are you aware that the current PGE Park has an existing debt of $29 million dollars? And that's BEFORE any other "improvements" are made.
Posted by Dave A.. | June 25, 2009 9:18 AM
Yeah,and don't forget that despite Paulson's "personal guarantees" there isn't a damn thing on paper to that effect and with his structure as a limited-laibility corporation, he can walk away when times get tough(er) and leave a second whopping unpaid PGE Park debt on the backs of PDX taxpayers just like the last group did. (also one of Sam's projects)
Posted by notjustforlooks | June 25, 2009 10:29 AM
There isn't a damned bit of paper the City's signed, either. It's an agreement; unless the assertion is that these terms will fall out of the signed agreement--something no evidence is provided for--the repayment from rent is personally gauranteed. Shortstop LLC is not the guarantor, it is the personal wealth of the Paulsons--which can easily be attached in court without contest. Corporate bankruptcy would have no effect.
Posted by Lentsok | June 25, 2009 10:49 AM
or perhaps it's a sign that the stadium needs some refurbishing.
Posted by Jyah13 | June 25, 2009 11:57 AM
Lentsok -
attach the paulson's personalwealth...in court...easily....without contest....
Ypurnaivety is truly astounding.
Posted by Nonny Mouse | June 25, 2009 12:50 PM
For what it's worth, Nick Fish didn't "cave" - he just voted to decouple the soccer pork from the baseball pork. There is still no publicly declared financial plan, and when there is, I have faith that he'll still give it the thumbs down if it uses taxpayer money.
At least, I sure hope so.
Posted by MachineShedFred | June 25, 2009 2:29 PM
Interesting that the Beavers' attendance is so pitiful with their departure so clearly on the horizon ... the so-called bereaved don't seem bereaved enough to hie themselves out to the park to catch one of the last Portland Beavers' games ever. (Or I suppose that they could just be like me -- I'd rather burn the money than give a penny of it to Paulson.)
Posted by George Anonymuncule Seldes | June 25, 2009 3:38 PM