Five Things That Make Me Wonder What The $100 Million Bailout Is Really For, Exactly (v4.0)...

ShowUsTheMoney!
Lotuslandia


Reason number one......

If the Olympic Village /Condo King development on Vancouver's False Creek is only $60 million dollars over budget, why are we giving the developer, the cash-strapped Millennium Group, $100 million?

Reason number two....

The developer of the Olympic Village in Vancouver, Millennium, is also having trouble making the nut on a project in Nanaimo. Interestingly, it would appear that, unlike the City of Vancouver, the City of Nanaimo is not pumping liquidity into stalled project in their own backyard. So, if that's the case, where will the money come from?

Reason number three....

Double interestingly, the developer of the Olympic Village in Vancouver, Millennium, is having trouble making the nut on a project in West Vancouver too. As in Nanaimo, there is no local municipality on the hook for the West Van project So, if that's the case, does it not mean that there are a whole lotta private money-shakers holding a big whack of Millenium chips?

Reason number four....

Doesn't Millennium already owe the private money-shaker 'Fortress Investment Group' $750 million? And didn't Fortress itself very recently threaten to call in it's chips on Intrawest up the road to the tune of $1.7 billion because its backers were barking at them from the hedge-fund bunker?

(Number five still to come)



Kinda makes you go hmmmmmm......no matter who you're voting for (or against) tomorrow.

Doesn't it?

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