UPDATE: Tariq Nasheed pushed for $7Mil for Hidden History Museum; FBA supports Trump/Vance 2024

darth frosty

Dark Lord of the Sith
BGOL Investor



LeDuff: I'm Done With Subsidizing Corporations In Detroit And Michigan

October 07, 2021, 10:37 PM by Charlie LeDuff


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HUDSON'S SITE (DEADLINE DETROIT PHOTO)

The attention in Detroit public square is focused on small-time crookery. City councilmembers on the take for the equivalent of a cheap suit and a sagging bag of carryout chicken.

But the real hustle is orchestrated in the penthouse boardrooms of our so-called titans of industry, who can't seem to cobble a development deal without holding out the proverbial tin cup.

Think about it, almost every deal of consequence in Detroit since the municipal bankruptcy includes massive public subsidies. And almost none has have lived up to its promises.

Without the public guaranteeing profit, these deals would never have been done. And with the downtown bubble bursting, be warned. They're coming for more.




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Financed with a heap of public money, Detroit's flagship hotel, the Westin Book Cadillac, opened in 2008.

Today, it is on the block.

The Book Goes Bust

Bought and rehabed for nearly $200 million, the latest appraisal has the hotel valued around $80 million. A real dog, in real estate vernacular.

Now the owner claims he can't make his $77-million note and is on the verge of foreclosure. He blames Covid. But the owner couldn't make his note in 2016. Or 2018.

The owner says he has a buyer out of Chicago for $77 million. Exactly the amount the owner owes his lender.

That's nice and neat. Except the buyer wants $30 million in property tax breaks from the city and county.

Do the math. The owner is made whole and gets out from under his debt. The lender is made whole and recoups his loan. The buyer gets a high-end hotel on the cheap. And the taxpayers of Detroit and Wayne County are out $30 million bucks.

Why not let the lender foreclose and find a buyer for $47 million?

Did the county wave the working stiff's taxes when he was under water?

Gilbert's Shrinking Skyscraper



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Dan Gilbert




What's happening with the Hudson's Tower that was supposed to open this year? Remember? The tallest building in Michigan built by the richest man in Michigan?

Detroit gifted the prime real estate to Dan Gilbert for a dollar. Then the city and state gave him hundreds of millions of dollars in tax subsidies to build his phallus of self-aggrandizement.

Ground was broken four years ago. So far, we've got three floors and some elevator shafts. That's it. There are no anchor tenants to speak of. There is no finalized design for the main erection. Not to mention there is no demand for office space anywhere in America.

Dirt and steel get pushed around the site like a pea in a coconut shell. They try to look busy, but they look like they're stalling. The other afternoon, four ironworkers could be seen working on the structure. That's no way to make a profit.

With Gilbert hobbled by a stroke, and his wife taking a larger role in the family business, the smart money is on the building growing shorter by the day.

Big Three's Big Bet

Electric vehicles: Teriffic. Stuff of the future. Zero emissions. I'll take two.

I'll also take a slice of cheesecake that makes you skinny, a carton of cigarettes that makes you live longer and a kitty cat unicorn.

Michigan is already committed to reimbursing The Big Three billions of dollars to keep the old jobs here.

Ford got massive public handouts for its Detroit train station redevelopment and FCA got massive handouts for its Mack Avenue expansion.The promised 10,000 jobs have yet to materialize.

Meanwhile, all the new cool electric jobs of the future are going elsewhere: Tennesse, Kentucky, Mexico.

And few are asking the basic question: how is the neglected national power grid going to handle 40 million electric cars?

The grid in California is so threadbare that fire tearing through the foothills has become the fourth season in the Golden State along with floods, mudslides and earthquakes.

So brittle is the grid in Michigan, people are left to burn pots of dung for energy whenever the wind blows.

If anybody in New Orleans drives an electric car, they're probably living in it on an abandoned strip of highway on the outskirts of East Baton Rouge.

America's for-profit power grid isn't capable of handling the new load of electric cars coming on line. Who will pay for the upgrades? You, if the Biden infrastructure bill ever gets passed.

Hold on a Minute Here

But there is a problem there as well. Only (only!) $75 billion dollars is earmarked for grid improvements across the country. Experts have the cost pegged at three times higher.

All this as news has trickled out that nickle-grubbing DTE took $220 million dollars in federal Covid bailout money, passed the profit onto shareholders, and then cut power to thousands of Michigan customers behind on their bills.

I'm for electric vehicles. But I'm done with subsidizing corporations, Wall Street and eco-scolds who can already afford the cars.

The moral? Capitalism works. Corporate socialism does not. Don't say you haven't been warned.
 

Walter Panov

Rising Star
Registered
Go to 15:00 and hear Tariq fraud ass talk about himself Lol


Tariq talking specifically about black people who talk about going to black museums: "We gotta stop being stupid for them. This is how you talk to people who you do not respect. Who you feel are stupid. You can throw them any kind of symbolic bullshit and they go for it. We gotta get off that symbolism bullshit."

Yo @KingTaharqa @Soul On Ice @pimp1101 explain this shit. :confused:
 

YoBitchChoseMe

Rising Star
Registered
Tariq talking specifically about black people who talk about going to black museums: "We gotta stop being stupid for them. This is how you talk to people who you do not respect. Who you feel are stupid. You can throw them any kind of symbolic bullshit and they go for it. We gotta get off that symbolism bullshit."

Yo @KingTaharqa @Soul On Ice @pimp1101 explain this shit. :confused:
Im still waiting :popcorn:
 

Soul On Ice

Democrat 1st!
Certified Pussy Poster
Tariq talking specifically about black people who talk about going to black museums: "We gotta stop being stupid for them. This is how you talk to people who you do not respect. Who you feel are stupid. You can throw them any kind of symbolic bullshit and they go for it. We gotta get off that symbolism bullshit."

Yo @KingTaharqa @Soul On Ice @pimp1101 explain this shit. :confused:
Before I respond, is there any thing that I could say that would change your perspective on this topic?
 

Walter Panov

Rising Star
Registered
Before I respond, is there any thing that I could say that would change your perspective on this topic?
Yes you could. I'm not against black folks going to black museums. I'm not against supporting a project with donations. The problem is not the message. It's the messenger.
 

daddyfatsacks9000

Unapologetic Heterosexual Male
BGOL Investor
What's the difference between chronic detractors/haters and loyal fanatics/followers?
Seem to me not a whole lot.
 

totto

Rising Star
Registered
Tariq pimp hand is strong. He going to be making promises and movies tell this con-scious scam well runs dry LOL

compared to who? Roland Martin, Kamala Harris, Angela Rye and Van Jones...

I'd rather have Tariq than any of those clowns. You see what's going on in Ukraine? Do you think all those PHD's can save black folk?
 

FLoss

Surviving Kamala Harris
BGOL Investor
I was listening to some of those twitter spaces a week ago....
Tariq had those pocket-watching, hating immigrant tethers triggered on FBA only reparations. :roflmao2:
 

Soul On Ice

Democrat 1st!
Certified Pussy Poster
compared to who? Roland Martin, Kamala Harris, Angela Rye and Van Jones...

I'd rather have Tariq than any of those clowns. You see what's going on in Ukraine? Do you think all those PHD's can save black folk?
Yep. These characters NEVER answer that question lol
 

Soul On Ice

Democrat 1st!
Certified Pussy Poster
High comedy that we got people in this thread who holds Tariq to much higher standards than their favorite politicians lol.
However they voted for got like 10s of millions+ of dollars and ain't done shit for their people
:itsawrap:
 

totto

Rising Star
Registered
Yep. These characters NEVER answer that question lol

all they done is laugh and mock tariq and his kind but can't provide any alternatives.

like I said, if a war takes place on the streets, we the first to go

ya'll laugh at pookie and ray ray but they the ones busing guns to protect you.

We got Russia out here making white men die for a cause, not a effect but a cause that could lead to a effect and these dudes out here talking about dating options and saying black woman are trash for youtube views...

When all hell breaks loose in America which is what these GOP wants, we the first to go, they upset cuz white liberals off code right now.
 

Soul On Ice

Democrat 1st!
Certified Pussy Poster
Wwhatever name they choose, wont have ANY record or even a 10th of Tariqs action and contribution bro.
all they done is laugh and mock tariq and his kind but can't provide any alternatives.

like I said, if a war takes place on the streets, we the first to go

ya'll laugh at pookie and ray ray but they the ones busing guns to protect you.

We got Russia out here making white men die for a cause, not a effect but a cause that could lead to a effect and these dudes out here talking about dating options and saying black woman are trash for youtube views...

When all hell breaks loose in America which is what these GOP wants, we the first to go, they upset cuz white liberals off code right now.
 

totto

Rising Star
Registered
Wwhatever name they choose, wont have ANY record or even a 10th of Tariqs action and contribution bro.

We'll be wiped out within 48 hours, 13 million black folks. The truth is, these dudes don't think it will ever happen, and America is too progressive to get to that point. You got Marjorie Greene at the SOTU address while holding hands with a known WS, but they don't care.

We love the nonsense, and it shows, which is why they can infiltrate our community so easily with ideas and distract. Likelike Tariq said, we love the attention. The seat at the table comes before culture, race, or unity... just personal gratification for what we've done.

It's all good now because black folks are getting good jobs, but wait till DeSantis gets in the WH and all of a sudden education is devalued due to the lack of opportunity as a whole. We are going to be the first to feel that too.

It's coming eventually, America can't sustain itself as is, reliably on foreign assets, a booming middle class with high expectations of nice cars and homes, in shape women, while having to kiss Putin's ass Cuz Biden doesn't want a war, wait... just wait it will all come down since it's all a faction to begin with.
 
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