09-17-2006, 05:18 AM
Let's see, the first development there was put in for about thirty million dollars (back when thirty million was a sizeable sum) and then was sold a few years later for three million, wasn't it? Wonder what they are selling it for this time, who is gonna dump a bazillion dollars into it and who is going to buy it for a mere pittance later.
A surprising number of large scale developments are built for enormous sums of money then sold several years later for about ten percent of what it cost to build them. I'm not sure why, but it is more common than you'd think! Wonder who takes the loss on these sorts of things? I suppose a corporation eventually, but they can't pay on debts owed so their suppliers must take a hit, too. Hmm. Oh well, hopefully Jean-Michel will keep the development from impacting the ocean life as much as he can. Given a choice between quality of life for ocean life and making money, though, he may have a tough time swaying the opinion of a board of directors.
A hui hou,
Cathy
A surprising number of large scale developments are built for enormous sums of money then sold several years later for about ten percent of what it cost to build them. I'm not sure why, but it is more common than you'd think! Wonder who takes the loss on these sorts of things? I suppose a corporation eventually, but they can't pay on debts owed so their suppliers must take a hit, too. Hmm. Oh well, hopefully Jean-Michel will keep the development from impacting the ocean life as much as he can. Given a choice between quality of life for ocean life and making money, though, he may have a tough time swaying the opinion of a board of directors.
A hui hou,
Cathy
Kurt Wilson