--- Begin Message ---IMF Gave Up Ownership of the World Trade Center Two Weeks Ago!!Copyright 2001 (c) by J.S. Chiappalone
The owners of the demolished World Trade Center in lower Manhattan acquired the buildings just two months ago under a 99-year lease allowing them to walk away from their investment in the event of "an act of terrorism". The
owners, Silverstein Properties and Westfield America - a shopping mall
specialist - purchased the buildings from the Port Authority of New York and
New Jersey for Dollars 3.2bn in July and completed the financing just two
weeks ago.Neither of the buyers would comment on terms of the lease, but such a clause
would be considered reasonable for the purchase of a building that had
already seen a terrorist bombing and was considered a possible future target.The lease document is understood to spell out certain conditions under which
the lessees could walk away from their obligation to spend Dollars 200m in
capital improvements and pay annual rental charges.It is understood that the buildings are insured for more than Dollars 3bn,
enough to cover rebuilding costs. However, an executive connected to the
buyers said: "Ultimately, the decision will be made by politicians. It is a
state and federal government decision about whether or not to rebuild on the
site." Larry Silverstein, chairman of Silverstein Properties, said
yesterday that he was determined to rebuild on the site. "It would be the tragedy of tragedies not to rebuild on this part of New York," Mr. Silverstein was
quoted as telling the Wall Street Journal."It would give the terrorists the victory they seek," he said, adding
that he felt a moral obligation to rebuild on the site. Although there have been
some suggestions that the site should be left vacant as a memorial park, its
location at the heart of America's financial capital means it is probably
far too valuable to lie undeveloped. Copyright: The Financial Times LimitedIN other words, the real owners, the bank, Chase Manhattan, CITIBANK, which
is really the IMF... are off the hook. They got their payoff and are out of
it. These people don't LOSE money, they have 99 years to make money. If
they'd told us earlier, we'd have gotten OUR kid out of the building!THEY KNEW it was coming. Ben Chambers, of 47th floor said last few weeks
they've been making them have ESCAPE DRILLS! SOMEBODY UPSTAIRS KNEW!In other words, nobody was left holding the bag, the lessors saved a few
billion tearing the old ratty thing down for free and cheap. It was a
firetrap and they knew it, shafts and stairwells carried heat. NOBODY CARED
what terrorists were going to DO to this bldg. It hadn't been owned by IMF
Citibank and CHASE MANHATTAN for several WEEKS! The new lessors can collect and rebuild.
Please let us stay on topic and be civil.
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