SFist: Keenen Ivory Wayans' Destination Oakland Project Dead

RollingJ415

Sat, 18 Aug 2007 14:31:04 -0800

ChinaNob--awesome analysis. Dude(tte?), you're smart.

guest

Sat, 18 Aug 2007 13:50:09 -0800

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

Fri, 17 Aug 2007 22:16:37 -0800

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.

guest

Fri, 17 Aug 2007 20:28:10 -0800

Wonder if crime had 'em scared. Wouldn't that have been something....

guest

Fri, 17 Aug 2007 19:46:01 -0800

Excellent decision! Glad to see the Wayans have more self restraint then to just go along with the city oakland's high handed demands.