the staff of the Ridgewood blog
East Rutherford NJ, more trouble for the American Dream Mall . The developers behind the American Dream mall and entertainment complex formally know as Xanadu missed a June 1 deadline to make a payment on an $800 million municipal bond, in the latest sign of financial stress for the Meadowlands project.
THE SMELL OF NAPALM IN THE MORNING https://theridgewoodblog.net/the-smell-of-napalm-in-the…/
Triple Five Group in Canada will have until a grace period ends on June 16 to make the interest payment or risk defaulting, according to a notice filed with the Securities and Exchange Commission last week by U.S. Bank NA, a trustee for bondholders.
It is never going to get better for the American Nightmare. Might as well as face reality and call this
one what it is : A Colossal Failure. Doomed from the start. Shut it down..
The trough never shuts down…………………
Ha!
I just love it when shit like this happens to these greedy developers. It’s a shite hole…we told you that from day one. Yet you continued to build. Now your defaulting on your obligations. Now it’s time to go to jail.
Hilarious…
would love to restructure the debt
Y’all aren’t being very “business-friendly” up in here.
it was a government scam project , very little to do with business
A giant construction project, built by some of the largest developers in the country, to house flagship stores of major brands, had very little to do with business. OK.
(Before you bring up government graft, think of where that graft is coming from/going to.)
paid for by NJ TAX PAYERS
AND TO GIANT BUSINESSES(WHO IN TURN LOBBY THOSE IN CHARGE OF DOLING OUT THAT TAX REVENUE)
This isn’t rocket science, James.
before the dawn of the internet ,the meadowlands sports authority talked then Governor Jim McGreevey into funding it , it was originally called Xanadu , one of the dumbest ideas in the history of Bergen County . Chris Christie later called it the ugliest building in the world. It was a state of New Jersey development ,like your school buildings….costing taxpayers $23billion +or – and that’s what you get when you vote for dirtbags
And that 23 billion went to………..whom exactly?
And if you were oppossed to said boondoggle..you’d be called “Anti-business”
stole most of but I bet Jim McGreevey knows
Restore the marshlands.
Totally agree. The voice of reason. Much too much development in this state. Need to think more about the environment.
Wait what?
You want us to think more about the environment?
In New Jersey?
That boat sailed long ago….