Posted on 01/18/2009 3:46:08 AM PST by abb
Zell is living proof that even rich folk fall for sucker investments. Remember all the talk about the Trib and its "Crown Jewel," the LA Times? And now they're using the same language describing the NY Times.
All PT Barnum puffery. I'm sure the last person to buy stock in Amalgamated Buggy Whip, LTD was told the same thing.
So Pinch is trying sucker a Mexican gangsta?!!Silly boy!!
Fascinating point of view!
It sure doesnt sound like a smart investment.
I read up on reverse stock splits on the SEC sight and a few other places. Total waste of time unless they think no one is paying attention. Lee’s market cap is well below the 25 mil needed for listing. This reverse split will fool no one.
Check this out....Mexico is falling apart and Calderone is going to build their biggest resort ever....right in the middle of the war....I wonder how much of our 1.5 billion is going into this fiasco?
PUBLIC-PRIVATE VENTURE: Mexico plans $6B resort on the Pacific
The Los Angeles Times
January 18, 2009
It would be one of the most audacious tourism projects in Mexican history. More than 33,000 hotel rooms. An expanse twice that of Cancún. Nearly $6 billion in investment.
The giant resort would be built on Mexico’s Pacific coast, about 50 miles south of Mazatlán.
In September, Mexican president Felipe Calderón announced plans for the public-backed project. Still unnamed, it is the largest tourist effort since the government helped build resorts in Cancún, Ixtapa and Los Cabos more than two decades ago, he said.
Mexican officials have yet to discuss another possible drawback: The proposed site is in the state of Sinaloa, one of the country’s most violent corners, where the dominant drug-trafficking alliance has split into feuding armies. As a result, Sinaloa has almost daily shootouts and one of the highest death tolls in Mexico. The violence has at times spilled into Mazatlán.[snip]
Since Carlos is rich in a socialist economy, where grtaft and 10 families rule the market, he has never had to make real business decisions in a real market economy...wait a minute I think he bought and closed CompUSA. I hope his magic touch in business helps the Times to reach the heights achieved by the restored Carlos Slim run CompUSA.
I’m going off his CompUSA track record - he kept CompUSA going for two or three years after it was really dead.
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