April 8, 2010

Dyster -- Top Notch Negotiator

It's common knowledge that when developers have an idea for a big project and need to acquire land/property/buildings for that project they do so VERY QUIETLY. They create third party intermediaries, separate LLCs, etc. so no one catches wind of what's going on.

You see, if I have a small piece of land worth say $100K but I know Wal-Mart needs that parcel for their next project, my price is probably now $1 million because I know I have them over a barrel. But if Wal-Mart is smart and goes about their business quietly and offers me $125K when I have no idea about the bigger plan, I'm more than happy to sell because I'm thinking I'm $25k ahead.

I tell you this as a backdrop to the now stalled NCCC Culinary project at the Rainbow Mall that Mayor Dyster touted all over town. Dyster saying this was THE project to turn downtown around, that his Administration was going to make sure this happened, etc. Press conference after press conference.

Well someone should have told Dyster that the Mall's owner, David Cordish, is smart enough to read the papers. Sources have told us that Cordish was ready to sell the part of the mall for the project for around $1 million. But after Dyster staked his whole career on making this project happened and couldn't restrain himself at all, Cordish knew he'd hooked the fish.

Now, the deal is in limbo as Cordish supposedly wants millions more for the property, perhaps as much as six or seven million. And Dyster has egg all over his face. Does he overpay the hated developer or risk seeing the project never happen?

Remember all that talk that Dyster used to be an arms negotiator in the White House, that he was part of nuclear talks with the Soviet Union. If those dubious statements are indeed true and Dyster was at the table negotiating the future of nuclear war.....holy crap, we're lucky to still be here.


James T. Kirk said...

Mayor Strangelove?

The Avenger said...

Hobbes, you clearly don't know what you're talking about. Peter Kay is the economic wiz and he probably told Dyster that if the city overpays for the Rainbow then property values in the whole city will rise and there will be additional tax revenue for things like historic tax credits for a roof on Dyster's house. This is brilliant.

marry said...

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