Tuesday, May 15, 2007

Deal? Or No Deal?

Not to be the pessimist, but it is hard to bake a cake without the proper amounts of the correct ingredients and Cyntreniks was short 138.72 pounds of Ben Franklins to make the Bentley deal stick. Time to move on. The Bentley has historic significance to our community and is in need of preservation, no doubt. Who among us has the finances or business acumen to feed the white elephant all it will consume to have as a status symbol we can refer to as a landmark? Can a consortium of local investors be assembled to form an operating group that can lease the Bentley from Mr. Dean and have a satisfactory outcome? So far, no one in our community is stepping up - so why would any outsider be more aggressive. Does anyone have any observations that would make the downtown environment conducive to the economically viable operation of the Bentley Hotel? I would close by saying that we should all realize that Mr. Dean owns the Bentley hotel - not any one of us. It is rather disrespectful to discuss the outcome of the Bentley without the input of Mr. Dean - after all, it is he who owns the property. Any thoughts?


Anonymous said...

If someone is willing to pay Mr. Dean 12 mil for a 4 mil dollar property, he will likely be content to let us talk among ourselves. But not all is lost.

We elected the frauds who invented this scheme.

We upped the anti on any possible purchase to at least 4X its appraisal value

We killed a year of solution seeking

we brought the grand dame closer to her date with the wrecking ball. and

we dashed any confidence or faith that we had acquired in our leadership

Anonymous said...

Excuse me, but why sign a contract to buy real estate when you do not have the funds?????? Am I missing something here? Couldn't Dean sue the potential buyer and enforce the contract to buy and sell?

spanky said...

The part that you are missing is that a buy/sell contract is just that, a contract between two parties to consumate a sale and as with many contracts there are contingencies, such as the ability to obtain financing. One does not have to have money in hand to execute a buy/sell. Mr. Dean could in fact sue for specific performance if he could prove that Cyntreniks actually has the funds or was approved for financing thereby forcing the sale to proceed or collect damages. I would be curious to know how much glue (deposit money) was applied upon signing the buy/sell. Does anyone know?