A Message From Lucianne  







S-G1




























ST-GC


   
 
Home Page | Latest Posts | Links | Must Reads | Update Profile | RSS | Contribute | Register | Rules & FAQs
Privacy Policy | Search | Post | Contact | Logout | Forgot Password | Search Using Google


Marriott Marquis Lease Could Cost
Taxpayers $344.9 Million, Audit Says

New York Times, by Charles V. Bagli

Original Article

Posted By:LittleHoodedMonk, 2/12/2013 1:26:13 PM

The Marriott Marquis, the 50-story convention hotel in Times Square, sits atop some of the most valuable land in all of New York City, if not the world. But because of a lease signed by the Giuliani administration in 1998, Marriott can buy the property from the city for only $19.9 million, one-tenth of its current $193 million value, according to a new audit by the city comptroller, John C. Liu. Mr. Liu said the problems with the 1998 lease could end up costing taxpayers $344.9 million in lost rent and proceeds from the sale of the property. Marriott, whose Marquis Times Square generates more revenue

Comments:
Of course the blame for this is placed on the Giuliani administration and a non-existent comparative analysis by the then Economic Development Corporation. I´m surprised that there is no mention of Trump making an earlier bid for this property when it was allegedly in a "bad neighborhood" for tourists. I may not be schooled in economics, but know that Times Square is probably one of the most recognizable places on the earth & property will always be of highest value.

      


Post Reply  

Reply 1 - Posted by: hybernicus, 2/12/2013 1:44:07 PM     (No. 9172394)

To judge the situation fairly, one needs to know the condition of the property at the time of the lease as well as the terms of the lease. Often, a tenant will pay above-market rent in exchange for a lower price on a purchase option.

  Click Here if you Like this Comment


Reply 2 - Posted by: dulac, 2/12/2013 1:44:36 PM     (No. 9172395)

seems like an argument could be made that the presence of Marriott there (with their considerable reputation for reliable quality and name recognition/brand equity) is part of the reason why the real estate in the area has grown in value.

  Click Here if you Like this Comment


   

 

R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Attila DiMedici, 2/12/2013 1:47:43 PM     (No. 9172404)

Mr. Liu is planning on running for mayor in the next election. He has had several scandals in his recent past (I have not been following them closely, so I am not sure to what degree his behavior has been scandalous and to what degree he has merely been caught up in the scandal). He is looking for something to give him a positive view for looking out for the city.

  Click Here if you Like this Comment


Reply 4 - Posted by: LouD, 2/12/2013 2:14:03 PM     (No. 9172462)

Pity the poor Indians who sold Manhattan for $24.00 worth of junk jewelry. They got screwed more than the taxpayers of today.
(BTW, I call them "Indians" and not the PC words, because at the time of the sale, that is what they were called by historians.)

  Click Here if you Like this Comment


Reply 5 - Posted by: Charactercounts, 2/12/2013 4:26:44 PM     (No. 9172690)

I remember walking through Times Square on the way to see a play, and seeing a woman shooting heroin into her veins not far from where the Marriott stands now. The area was a war zone, full of junkies, prostitutes, porno shops and lowlifes.

Those were different times. That Marriott and others risked capital in building there is what saved Times Square.



  Click Here if you Like this Comment

   1  person like this.


Reply 6 - Posted by: oh-heck, 2/12/2013 5:59:16 PM     (No. 9172867)

The Marriott reached a long term agreement with the city that has created one of the most valuable pieces of property in the world and has paid large amounts of money in taxes over the course of many years. In addition, the city has collected billions of taxes on surrounding real estate. If Marriott buys the property, the city will get 19.9 million from the sale. How is this costing taxpayers anything? This is like leasing a house with an option to buy. You replace the roof, the AC, the hot water heaters, the flooring, the wall coverings, the kitchen counters and appliances etc. You spend $20,000 but it increases the value by $40,000. The landlord must live by the terms of the lease and did nothing to increase the value.

  Click Here if you Like this Comment

   1  person like this.


Reply 7 - Posted by: Brittany, 2/12/2013 6:54:52 PM     (No. 9172981)

If the city got rid of rent control, the property taxes would skyrocket. As it is, certain people are paying a pittance for some of the most valuable living space in Manhattan. Much more important than this suit.

  Click Here if you Like this Comment

   1  person like this.


   

 

  


 

Post Reply   Close thread 723104




Below, you will find ...

Most Recent Articles posted by "LittleHoodedMonk"

and

Most Active Articles (last 48 hours)




Most Recent Articles posted by "LittleHoodedMonk"



White House urges Putin
to back down in Crimea
Associated Press, by Staff    Original Article
Posted By: LittleHoodedMonk- 3/16/2014 12:49:56 PM     Post Reply
Secretary of State John Kerry urged Russia on Sunday to pull back its military forces and to let Ukrainians undertake reforms that would address the rights of minorities and determine how political power is to be shared. The White House also stressed that Russia faces penalties that will hurt its economy and diminish its influence in the world if President Vladimir Putin doesn´t back down in Crimea. In a phone conversation with Russian Foreign Minister Sergey Lavrov on Sunday, Kerry reiterated the United States would not recognize the results of a referendum taking place in Crimea that would allow it

Is it Time to Panic Yet?
Weekly Standard, by Geoffrey Norman    Original Article
Posted By: LittleHoodedMonk- 3/16/2014 12:38:26 PM     Post Reply
This weekend’s hymn appears to be “Democrats in Trouble.” Follow along with Jonathan Martin and Ashley Parker of the New York Times: Democrats are becoming increasingly alarmed about their midterm election fortunes amid President Obama’s sinking approval ratings, a loss in a special House election in Florida last week and millions of dollars spent by Republican-aligned groups attacking the new health law. Appearing in the chorus: Maureen Dowd: With the health care sign-up period coming to an end this month, Democrats in Congress are looking over at the White House and realizing that the president is not only

Snail venom cuts pain in early lab trial
Agence France-Presse, by Staff    Original Article
Posted By: LittleHoodedMonk- 3/16/2014 11:33:20 AM     Post Reply
Washington - An experimental drug made from snail venom has shown early signs of promise in numbing pain, raising hopes in the hunt for new, non-addictive medications, researchers said Sunday. The drug, which has not been tested yet on humans, was judged to be about 100 times more potent than morphine or gabapentin, which are currently considered the gold standard for chronic nerve pain. The active ingredient, conotoxin, comes from carnivorous cone snails, which are common in the western Pacific and Indian Ocean. The marine animals can reach out and stab prey, injecting a venom that paralyzes fish long enough

Russia´s Special Ops
Invasion of Ukraine Has Begun
Daily Beast, by Staff    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 10:35:42 PM     Post Reply
Putin appears to be using elite commandos—Spetsnaz—to spearhead his stealth move into Crimea and, perhaps, beyond. Forget the military forces massed on the border and brief incursions into Ukrainian territory and airspace. Russia is invading Ukraine in the shadows. The same special operations forces that appear to be rigging the election in Crimea are quietly escalating tensions inside other parts of eastern Ukraine. (Snip) The forces behind these operations, according to U.S. officials briefed on the updates in Ukraine, are likely the Spetsnaz, the Russian military’s highly trained saboteurs, spies and special operations forces who may change the face—and the borders—of Ukraine without once showing the Russian

   

 

B-G1


 
Wave of rocket attacks on Israel
signal power struggle in Gaza
Washington Post, by Paul Alster    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 5:27:07 PM     Post Reply
Haifa, Israel - A frightening wave of rocket attacks raining down on Israel from terrorists in Gaza has not only broken a yearlong period of relative quiet on the border, it has put Hamas at odds with both Israel and an even more militant terror group within the territory. (Snip) The escalation in cross-border fire reflects a power struggle going on in Gaza between the governing Hamas terror organization and other groups, such as the PIJ and other miltias associated with Al Qaeda. Hamas is on the verge of bankruptcy, sources said. The finances of the terrorist state have been decimated since the change of power in Egypt last year that saw

Russian forces cross Crimea border to
seize gas plant on eve of referendum
Fox News, by Staff    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 5:13:24 PM     Post Reply
Russian forces backed by helicopter gunships and armored vehicles Saturday took control of a village near the border with Crimea on the eve of a referendum on whether the region should seek annexation by Moscow, a Ukrainian official said. Fox News confirmed Russia troops took over a gas plant in the Kherson region, located between Crimea and Russia. The action in Strilkove appeared to be the first move outside Crimea, where Russian forces have been in effective control since late last month. There were no reports of gunfire or injuries. The incident raises tensions already at a high level before Sunday's referendum.

What Facebook can tell
us about conservatives
Washington Post, by Chris Cillizza    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 5:01:51 PM     Post Reply
Buried deep within a Pew Research Center study on how people consume news in the digital age is a fascinating insight into what powers certain well-known conservative news sites. Here´s what Pew did. They used a sample of 26 news sites to conduct their research on peoples´ digital browsing habits. They used a combination of the most trafficked news sites and the ones that get the most traffic via Facebook. Not surprisingly, there was considerable overlap -- 17 of the most trafficked sites were also the most shared via Facebook. [Chart] But, it's a group of outliers that got us thinking. Here's the relevant nugget from the Pew memo:

Cruz jokes about shirtless, tattooed poster
The Hill [Washington, DC], by Mario Trujillo    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 4:46:52 PM     Post Reply
Sen. Ted Cruz (R-Texas) wants to make one thing clear: He doesn’t smoke cigarettes. Posters appeared Friday around Hollywood, Calif., with Cruz’s head photoshopped on top of a bare-chested, tattooed man, the day before the senator’s trip to the area, according to Brietbart News. The posters also show a cigarette hanging out of Cruz’s mouth. On Saturday, the Republican lawmaker joked about the image. [Tweet] The posters read: “Beverly Hilton, Ted Cruz’s So-Cal ‘Blacklisted & Loving It’ tour.” It gives the date March 15. Cruz is set to speak at the Claremont Institute Churchill Dinner in Beverly Hills on Saturday

Twitter Crushes Anti-Vaccination
Queen Jenny McCarthy
Daily Beast, by Staff    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 2:20:54 PM     Post Reply
You don’t need a crystal ball to see how this was going to end. On Thursday, The View co-host Jenny McCarthy asked her 1.13 million Twitter followers a question: “What is the most important personality trait you look for in a mate? Reply using #JennyAsks.” Twitter had one overwhelming response in mind: Someone who isn’t anti-vaccination like you, Jenny. McCarthy, whose son was diagnosed with autism in 2005, is famous for arguing that vaccines are linked to autism in children. Though she has clarified that she “and the autism community” are not anti-vaccine per se, they are “anti-toxin and anti-schedule.”

   

 

R_DBL_B
  


 
2-headed baby born in India
Fox News, by Staff    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 2:07:20 PM     Post Reply
A woman in India has given birth to conjoined twin girls – who appear to have two heads and one shared body, the Independent reported. The infants were born via cesarean section at Cygnus J.K. Hindu Hospital in Sonipat, Haryana. They suffer from dicephalic parapagus, meaning they have separate spinal cords, necks and heads, but they share all major limbs and vital organs. Conjoined twins with this condition typically cannot be separated. According to the Independent, the babies’ parents could not afford an ultrasound, which would have picked up on their condition in utero. “The parents are very distressed,

Senators up pressure on Putin in Ukraine
The Hill [Washington, DC], by Peter Schroeder    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 2:01:54 PM     Post Reply
A delegation of U.S. senators looked to up pressure on Russian President Vladimir Putin Saturday, as tensions around Ukraine heightened. A bipartisan group of eight senators traveling through Ukraine blasted the Russian leader, and called Sunday’s election on whether Crimea should join Russia rigged and illegitimate. Some of the senators called for the U.S. to provide military equipment to Ukrainian troops, and the group vowed crippling economic sanctions against Russia until the nation pulled back. “This is the person that stated that the greatest catastrophe of the 20th century was the breakup of the Soviet Union,” said

Obama Factor Adds to Fears of Democrats
New York Times, by Jonathan Martin & Ashley Parker    Original Article
Posted By: LittleHoodedMonk- 3/15/2014 1:49:45 PM     Post Reply
Washington - Democrats are becoming increasingly alarmed about their midterm election fortunes amid President Obama’s sinking approval ratings, a loss in a special House election in Florida last week and millions of dollars spent by Republican-aligned groups attacking the new health law. The combination has led to uncharacteristic criticism of Mr. Obama and bitter complaints that his vaunted political organization has done little to help the party’s vulnerable congressional candidates. The latest in a cascade of bad news came Friday when Scott Brown, a former senator from Massachusetts now living in New Hampshire,



Most Active Articles (last 48 hours)



Sam Adams pulls support from Boston
St. Patrick´s parade over gay rights

52 replie(s)
Associated Press, by Staff    Original Article
Posted By: KarenJ1- 3/14/2014 1:53:07 PM     Post Reply
The maker of Sam Adams beer announced Friday that it is withdrawing its sponsorship of Boston´s St. Patrick´s Day parade because organizers exclude gay groups. Boston Beer Co.´s decision came a day after a bar in Boston´s South End said it would no longer serve Sam Adams beer because of the brewer´s affiliation with the parade, which is scheduled for Sunday. Mayor Martin Walsh and U.S. Rep. Stephen Lynch have been trying to broker a deal that would have allowed a gay group to march, but those negotiations broke down. "We were hopeful that both sides of this issue would

President Obama warns youth:
Sign up for Obamacare or we
will charge you a penalty

47 replie(s)
Washington Examiner (DC), by Charlie Spiering    Original Article
Posted By: JoniTx- 3/15/2014 5:30:09 AM     Post Reply
President Obama warned young people that if they don´t sign up for Obamacare by March 31, they will face a penalty -- if they can afford it. During an interview with radio host Ryan Seacrest, Obama explained that young people might be charged a fine if they don´t get insured. "If you can afford it — you just decide you don´t want to get it because your attitude is ´nothing´s ever going to happen to me´ — then you´ll be charged a penalty," Obama explained. Obama was careful to specify that people who can´t afford Obamacare will not suffer a

   

 



 
Why millennials have abandoned Obama
39 replie(s)
Washington Post, by Dana Milbank    Original Article
Posted By: LittleHoodedMonk- 3/14/2014 7:04:50 PM     Post Reply
The day before the Iowa caucuses in 2008, I wrote about the massive crowds of young people at Barack Obama rallies, noting that his candidacy would collapse “if they don’t show up.” The next night, after Obama’s victory celebration in Des Moines, Obama strategist Steve Hildebrand spotted me in a crowd. “The kids showed up!” he said fiercely. They did. But where are they now? An army of 15 million voters under 30 swept Obama past Hillary Clinton and John McCain and to the presidency in 2008. More than 12 million helped him return in 2012. But now his presidency is on the line — and the Obama youth are abandoning him in

Doomed airliner pilot was political fanatic:
Hours before taking control of flight MH370 he
attended trial of jailed opposition leader as FBI
reveal passengers could be at a secret location

39 replie(s)
Daily Mail [UK], by Simon Parry    Original Article
Posted By: MissMolly- 3/16/2014 5:07:17 AM     Post Reply
Police are investigating the possibility that the pilot of missing Flight MH370 hijacked his own aircraft in a bizarre political protest. The Mail on Sunday has learned that Captain Zaharie Ahmad Shah was an ‘obsessive’ supporter of Malaysia’s opposition leader, Anwar Ibrahim. And hours before the doomed flight left Kuala Lumpur it is understood 53-year-old Shah attended a controversial trial in which Ibrahim was jailed for five years. Campaigners say the politician, the key challenger to Malaysia’s ruling party, was the victim of a long-running smear campaign and had faced trumped-up charges. Police sources have confirmed that Shah was a vocal political activist

Ted Cruz not so popular back home
38 replie(s)
Washington Post, by Jennifer Rubin    Original Article
Posted By: JoniTx- 3/15/2014 12:04:47 PM     Post Reply
Sen. Ted Cruz (R-Tex.) may be popular among hard-line conservatives nationally, but back home he’s in some hot water. According to an Emerson College poll, his favorability is underwater, by a margin of 43 to 48 percent. Moreover, his favorable/unfavorable rating with women is 39 to 50 percent. I asked the poll director for further detail and found: Republicans: 74 percent favorable, 18 percent unfavorable ~Democrats: 8 percent favorable, 82 percent unfavorable ~Independents: 38 percent favorable, 50 percent unfavorable

Obama wants people to quit
bashing his jeans

34 replie(s)
CNN, by Staff*    Original Article
Posted By: JoniTx- 3/14/2014 9:29:36 PM     Post Reply
President Barack Obama hit back at critics calling him out for his "mom jeans. "I´ve been unfairly maligned about my jeans," Obama said Friday in an interview with radio host Ryan Seacrest. "The truth is, generally I look very sharp in jeans. There was one episode like four years ago in which I was wearing some loose jeans, mainly because I was out on the pitcher´s mound and I didn´t want to feel confined while I was pitching, and I think I´ve paid my penance for that. I got whacked pretty good. Since that time, my jeans fit very well."

Astonishing poll shows 38-year
Democratic congressman down 14 points

34 replie(s)
Washington Examiner, by Michael Barone    Original Article
Posted By: Judy W.- 3/15/2014 7:31:10 PM     Post Reply
Here´s an astonishing poll: David Freddoso at Conservative Intelligence Briefing links to a report by the Washington Post´s Aaron Blake that West Virginia 3rd district incumbent Rep. Nick Rahall trails Republican challenger state Sen. Evan Jenkins by a 54-percent to 40-percent margin. The poll was conducted by the Tarrance Group, a Republican firm which, like several Democratic and other Republican firms, has had a good record for reliability over the years. This is astonishing for several reasons. Rahall, first elected in 1976, is now the seventh most senior member of the House, with three of the more senior members retiring

US Philosophy Professor: Jail ´Denialist´
Climate Scientists for Criminal Negligence

32 replie(s)
Breitbart London [UK], by James Delingpol    Original Article
Posted By: KarenJ1- 3/14/2014 3:26:11 PM     Post Reply
Scientists who don´t believe in catastrophic man-made global warming should be put in prison, a US philosophy professor argues on a website funded by the UK government. Lawrence Torcello - assistant professor of philosophy at Rochester Institute of Technology, NY, writes in an essay at The Conversation that climate scientists who fail to communicate the correct message about "global warming" should face trial for "criminal negligence". (H/T Bishop Hill) The Conversation - no relation of Breitbart´s blogging chatroom - is a website promoting articles by academics and funded by nineteen of Britain´s leading universities, as well as several government agencies, including the

Barack Obama, Political Wrecking Ball
31 replie(s)
Commentary Magazine, by Peter Wehner    Original Article
Posted By: StormCnter- 3/16/2014 5:38:29 AM     Post Reply
By now it’s settled on most people, including Democrats, that the loss of Alex Sink to David Jolly in Florida’s 13th Congressional District was, in the words of the New York Times, “devastating” to Democrats. It’s a district Ms. Sink carried in her unsuccessful race for governor against Rick Scott, a district that Barack Obama carried in his two elections, and a district that demographically now favors Democrats. In addition, Ms. Sink raised more money and ran a better campaign than Jolly. Even Bill Clinton lent his efforts to her campaign. And yet she lost. What should particularly alarm Democrats is

How five Colorado Democrats may
have paved the way for Congress
to sue the administration

30 replie(s)
Daily Caller, by Elizabeth Price Foley & David Rivkin    Original Article
Posted By: StormCnter- 3/15/2014 4:59:04 AM     Post Reply
Last week, the U.S. Tenth Circuit decided a case that should reverberate on Capitol Hill. In Kerr v. Hickenlooper, five Colorado legislators sought “standing” to challenge a state constitutional amendment. The three-judge panel — consisting of Carter and Clinton appointees — ruled in favor of the legislators’ standing. This decision should embolden members of Congress who correctly believe that President Obama has encroached upon Congress’ constitutional authority. Indeed, Congress should do no less in defending its authority than the five Colorado state legislators. Many members of Congress believe that numerous presidential actions — delaying various provisions of the Affordable Care

Top Republican: U.S. needs 1 million
more immigrants, not less

29 replie(s)
Washington Examiner, by Paul Bedard    Original Article
Posted By: mikkins2- 3/15/2014 9:05:57 PM     Post Reply
A top Republican campaigning for immigration reform is warning that America needs at least 1 million more immigrants every year just for basic farming and construction jobs, not ban like some in the party are advocating. Carlos Gutierrez, Commerce secretary under former President George W. Bush, said that without more immigrants, businesses won´t be able to grow because there aren´t enough workers available. And helping them could boost the Republican Party, added the former Kellogg Co. executive. Speaking at a Republican confab, he said that comprehensive immigration reform passed in the Senate and rejected by

Rand Paul: GOP Must ‘Agree
to Disagree’ on Social Issues in
Order to Expand Party

28 replie(s)
Mediaite, by Andrew Kirell    Original Article
Posted By: KarenJ1- 3/14/2014 2:15:25 PM     Post Reply
In an interview with Vocativ.com, Sen. Rand Paul (R-KY) expressed a desire for factions within the Republican Party to “agree to disagree” on hot-button social issues so that the GOP tent may expand to include more young people and alternative viewpoints. Asked whether the general consensus at last week’s Conservative Political Action Conference was that the party must butt out of social issues, Paul replied: I think that the Republican Party, in order to get bigger, will have to agree to disagree on social issues. The Republican Party is not going to give up on having quite a few people

   

Post Reply   Close thread 723104





Home Page | Latest Posts | Links | Must Reads | Update Profile | RSS | Contribute | Register | Rules & FAQs
Privacy Policy | Search | Post | Contact | Logout | Forgot Password | Search Using Google



© 2014 Lucianne.com Media Inc.

FS