Thursday, September 10, 2009

Zuma Dogg's Predictions of Downtown Development BANKRUPTCY Comes True Today (Remember my Meruelo Maddux Warnings?)

Remember THESE Downtown Real Estate ALERTS:

L.A. Daily Blog: BIG Meeting at Meruelo Maddux Tomorrow: Let the ...

Meruelo Maddux is having a big meeting tomorrow (Friday). Downtown's big real estate operator, .... Zuma Dogg Back To Life In Malibu? (No More ZD at C.. ...
ladailyblog.blogspot.com/.../big-meeting-at-meruelo-maddux-tomorrow.html -

L.A. Daily Blog: Meruelo Maddux & "Legalize L.A." Goes Legally ...

Mar 30, 2009 ... Zuma Dogg's "Zuma Times" blog has been covering the story of how the biggest landlord in Los Angeles, Meruelo Maddux (Downtown's biggest ...
ladailyblog.blogspot.com/2009/03/villaraiogsa.html - Cached - Similar -


THEN THIS ONE EARLIER THIS WEEK?:

L.A. Daily Blog: Downtown L.A. About To Be FLOODED (AFFORDABLE ...

There will about 1000 (ONE THOUSAND) LUXURY condo units that were ... WAY TO GO ANTONIO and YOUR Los Angeles City Council (without Zuma Dogg there). ...
ladailyblog.blogspot.com/.../downtown-la-about-to-be-flooded.html -
NOW THIS TODAY:

Bankruptcy Filed for Downtown Tower


Mereulo Maddux Apartment Project Seeks Reorganization

by Ryan Vaillancourt, Staff Writer
Published: Thursday, September 10, 2009 1:53 PM PDT
DOWNTOWN LOS ANGELES – Developer Meruelo Maddux filed for Chapter 11 bankruptcy protection on Sept. 3 for its 705 W. Ninth St. tower in South Park.

The filing with the Securities and Exchange Commission was first reported by the Los Angeles Business Journal [no, by LA Daily Blog, actually] and comes while leasing is underway at the 35-story tower, said Meruelo Maddux spokesman Michael Bustamante.

Meruelo Maddux Properties filed for Chapter 11 bankruptcy protection in March, two weeks after the Downtown landowner announced that it was in default of $226 million in loans. At that point, the company also ceased all major development activity, except for 705 W. Ninth St., which is being financed by an $84 million loan with a 12% interest rate.


Complete article


It's just one more example of how I try and keep on top of everything going on across the city that will be affecting the city, because Mereuelo Maddux can drag down a whole lot Downtown, and therefore the city, because they are a PRETTY HUGE Downtown commercial real estate developer and was Villiargiagosa's TOP TWO MONEY CONTRIBUTORS to Villaraigosa's mayoral campaign when he was elected to his tragic first term in 2005. And ZD hears MM ain't real happy with AV. I think there were some things AV couldn't/didn't make happen that a guy doesn't give you all that money to NOT make happen. Capishe?

[ANYWAY...if you are evaluation municipal budget pain over the course of the next year, or so...you better factor this in. ZD has been doing so for the past year. HERE IT IS...just like everything else. (They DO call me a "biblical-like soothsayer and one CM called me a "prophet" so now maybe we are seeing the signs being sent to send a message to voters who the clear and obvious choice is in this election based on those on the ballot. My only prediction yet to fall upon us is INDICTMENTS!!! But we're gettin' pretty far down the ZD prophecy checklist. Hope I wasn't too biased on that LAST prediction.
Anyway, I know I do more harm to my campaign that good with over-the-top Andy Kaufmanesque comments like the one contained in this bracket. Oh well...I didn't win, yet, so still gotta let ZD hang around a little, like Nuch needed him to.]

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