Gavin Cans Film Commission Head Stephanie Coyote
Evan Low to Become Country's Youngest Gay Asian-American Mayor
San Francisco Society Tips: How to End a Party
NY Times Singles Out Vallejo As Battleground Between Gays & Christians
Redheads Unite!
According to the Chronicle, '90s comic brain behind the long-ago hit In Living Color and current Scary Movie franchise, Keenen Ivory Wayans, will not build a movie studio and shopping center (a shopping center and movie studio...why not?) on the old Oakland Army base as originally planned.
Pacifica Capital Group and Mr. Wayans claim that the Port of Oakland land isn't workable since the port's expansion plans wouldn't mix with their own -- one strange reason was about storage containers blocking views, or whatever.
That kinda sucks; that would've been grand. Apparently the deal isn't absolutely dead. But...probably is: they'll still remain friends, speak fondly of each other at parties, etcetera.
Anyway, you can read more about it here.
add to stumble upon
add to reddit
tweet this
post to facebook
Excellent decision! Glad to see the Wayans have more self restraint then to just go along with the city oakland's high handed demands.
Wonder if crime had 'em scared. Wouldn't that have been something....
Self restraint? High handed demands? Puh-LEEZE. Asking a buyer to pay, um, market value for one's land is not a high handed demand. If you read the article, what the Wayans Bros. wanted was a PUBLIC subsidy for their PRIVATE development project.
This deal did not fall apart over a handful of shipping containers. (Container, by the way, which could be moved if its was it was necessary.) This deal fell apart, more likely than not, because the real money behind the Wayans Bros, the Pacifica Capital Group is finding itself in the same straights that every other venture group is finding itself in - the era of cheap, slushy cash fueld by low cost debt is over. The credit crisis has escaped from the the basement of sub-prime mortgage lenders into the prime mortage market, into the short term commercial paper market, and, most importantly, into the private equity market.
Wall Street is going through one of its periodic "oh shit we are so fucked we shoulda said no to that last bump of coke" moments, ready cash has completely dried up, and deals in industrial ghettoes headlined by Hollywood has-beens are no longer green-lit over the back of a cocktail napkin.
Good job oaktown Your new Mayor is really doin the job!
What were you all thinking electing a washed up politician. All you Oakland residents, you have earned the right to be called morons!
ChinaNob--awesome analysis. Dude(tte?), you're smart.