Guest Guest Posted March 13, 2008 Report Share Posted March 13, 2008 Hey, Sparky, you got your email. We know Kearney is not on vacation. Do you have any other suggestions? Why can't Matt Ryan keep his word and be transparent in this transaction. Ryan never keeps his word. Link to comment Share on other sites More sharing options...
Ed Arzouian Posted March 13, 2008 Report Share Posted March 13, 2008 Finally we get a little news.... Posted Thursday March 13, 2008 News Regency deal in final stages The Regency Hotel and Conference Center will be a Radisson hotel if a deal to buy the property goes through, said Binghamton Mayor Matthew T. Ryan. After a 60-day due diligence period, Scranton-based Nexus Hospitality Management LLC, which has signed a $5.9 million contract to buy the Water Street hotel from the city, is still putting together its financing, Ryan said. “They’re all ready to go, except getting the lenders to sign off on the final borrowing agreement,” Ryan said. The mayor was optimistic the deal would be done soon. —John Hill STORY CHAT HA! "except getting the lenders to sign off on the final borrowing agreement,” Ryan said." EXCEPT! That's a big exception!!!! I'm, already to buy it as well, except I don't have my financing in place either...... As I expected Nexus Hospitality had to request a 30-day extension of the contract. Technically they have 14 days left otherwise the original sales contract should technically be void. Nexus Hospitality has been trying to find the financing for about a year or more now, it will be interesting to see if they get it done in 14 days. Do you really expect these guys to put an extra $4 million in the place afterwords? They want to call it the "RiverTrail Radisson" well they had better use some of the imaginary $4 million to pay for the Riverwalk extension because there is no reason for the City of Binghamton to do it. PS there is no need to thank me for asking this question for the last two weeks, I'm happy to do the work that should be done by the local news media. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 13, 2008 Report Share Posted March 13, 2008 Finally we get a little news.... Posted Thursday March 13, 2008 News Regency deal in final stages The Regency Hotel and Conference Center will be a Radisson hotel if a deal to buy the property goes through, said Binghamton Mayor Matthew T. Ryan. After a 60-day due diligence period, Scranton-based Nexus Hospitality Management LLC, which has signed a $5.9 million contract to buy the Water Street hotel from the city, is still putting together its financing, Ryan said. “They’re all ready to go, except getting the lenders to sign off on the final borrowing agreement,” Ryan said. The mayor was optimistic the deal would be done soon. —John Hill STORY CHAT HA! "except getting the lenders to sign off on the final borrowing agreement,” Ryan said." EXCEPT! That's a big exception!!!! I'm, already to buy it as well, except I don't have my financing in place either...... As I expected Nexus Hospitality had to request a 30-day extension of the contract. Technically they have 14 days left otherwise the original sales contract should technically be void. Nexus Hospitality has been trying to find the financing for about a year or more now, it will be interesting to see if they get it done in 14 days. Do you really expect these guys to put an extra $4 million in the place afterwords? They want to call it the "RiverTrail Radisson" well they had better use some of the imaginary $4 million to pay for the Riverwalk extension because there is no reason for the City of Binghamton to do it. PS there is no need to thank me for asking this question for the last two weeks, I'm happy to do the work that should be done by the local news media. You dont live here - why do you care? Link to comment Share on other sites More sharing options...
Guest Guest Posted March 13, 2008 Report Share Posted March 13, 2008 Weren't we told this was a done deal in January? Sounds like what was said about the O'Neil Building. Remember how we were told, "the lines of communication were open" and then the City of Binghamton got saddled with half a building that needs demolishing and no money to do it? Remember how we were told the municipal wifi system was going to cost $58,000 and now we are being told it is going to cost $98,000? Doesn't that make it difficult to believe anything coming out of City Hall? Here is the wording of the Sales Contract for The Regency signed December 27, 2007, 76 days ago. 3. Conditions of Sale. This Contract is contingent upon: 3.1 Purchaser shall have sixty (60) days from the date of the full execution of this Contract to obtain a written financing commitment on terms and conditions acceptable to Purchaser in its sole discretion. Purchaser acknowledges and agrees that it shall contribute an amount no less than $1,200,000 for the acquisition from any financing institution. Purchaser shall apply for the financing within fifteen (15) days of the full execution of this Contract and thereafter diligently pursue in securing the financing commitment. If Purchaser is unable to obtain such financing, Seller shall have the right to extend the time to obtain financing for an additional thirty (30) days. If Purchaser is unable to obtain a written financing commitment within 60 days, or 90 days if so extended by Seller, then either party may cancel this Contract upon written notice to the other party. Upon cancelation, this Contract shall be deemed to be null and void, and the Deposit shall be refunded in full to Purchaser. (Note: In other words, the contract that was signed is virtually meaningless and worthless. Either party could walk away without penalty for a multitude of reasons.) Link to comment Share on other sites More sharing options...
Guest Guest Posted March 14, 2008 Report Share Posted March 14, 2008 13 days left on the 90-day extension.......... Link to comment Share on other sites More sharing options...
Guest Guest Posted March 14, 2008 Report Share Posted March 14, 2008 Finally we get a little news.... Posted Thursday March 13, 2008 News Regency deal in final stages The Regency Hotel and Conference Center will be a Radisson hotel if a deal to buy the property goes through, said Binghamton Mayor Matthew T. Ryan. After a 60-day due diligence period, Scranton-based Nexus Hospitality Management LLC, which has signed a $5.9 million contract to buy the Water Street hotel from the city, is still putting together its financing, Ryan said. “They’re all ready to go, except getting the lenders to sign off on the final borrowing agreement,” Ryan said. The mayor was optimistic the deal would be done soon. —John Hill STORY CHAT HA! "except getting the lenders to sign off on the final borrowing agreement,” Ryan said." EXCEPT! That's a big exception!!!! I'm, already to buy it as well, except I don't have my financing in place either...... As I expected Nexus Hospitality had to request a 30-day extension of the contract. Technically they have 14 days left otherwise the original sales contract should technically be void. Nexus Hospitality has been trying to find the financing for about a year or more now, it will be interesting to see if they get it done in 14 days. Do you really expect these guys to put an extra $4 million in the place afterwords? They want to call it the "RiverTrail Radisson" well they had better use some of the imaginary $4 million to pay for the Riverwalk extension because there is no reason for the City of Binghamton to do it. PS there is no need to thank me for asking this question for the last two weeks, I'm happy to do the work that should be done by the local news media. More Matthew T. Ryan premature elucidation! Link to comment Share on other sites More sharing options...
Guest Guest Posted March 16, 2008 Report Share Posted March 16, 2008 11 days left... Each day that passes the lending market gets tighter. I'm sure everybody is just jumping to back a small company with few assets over-extend itself into a poor market. Yup, let's give them $6 mill!. This bodes well: Saturday, March 15, 2008 Bear Stearns Companies The subprime mortgage meltdown made 2007 a disastrous year for Bear Stearns, one of the nation’s largest underwriters of mortgage bonds. Beginning this summer with the housing slowdown, Bear Stearns has stood as the prime example of how Wall Street’s big bet on securities based on risky home loans went south. Did you see this: Bear Stearns may be near the end of a long innings www.chinaview.cn 2008-03-16 08:30:43 BEIJING, March 16 -- Bear Stearns Co's 85 years as an independent Wall Street firm may be coming to an end as JPMorgan Chase and Co considers buying the crippled company. Teetering on the brink of collapse from a lack of cash, Bear Stearns got emergency funding on Friday from the United States Federal Reserve and JPMorgan in the largest government bailout of a US securities firm. The move failed to avert a crisis of confidence among Bear Stearns' customers and shareholders, who drove the stock down a record 47 percent. After denying early last week that access to capital was at risk, Bear Stearns Chief Executive Officer Alan Schwartz said the company's cash position had "significantly deteriorated" by Friday. The Fed agreed to provide financing through JPMorgan for up to 28 days, the bank said in a statement. The Fed acted to prevent the failure of the second-biggest underwriter of US mortgage bonds and forestall a potential market panic as losses by banks and brokers reached US$195 billion and stocks plunged for a third day last week. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 16, 2008 Report Share Posted March 16, 2008 11 days left... Each day that passes the lending market gets tighter. I'm sure everybody is just jumping to back a small company with few assets over-extend itself into a poor market. Yup, let's give them $6 mill!. This bodes well: Saturday, March 15, 2008 Bear Stearns Companies The subprime mortgage meltdown made 2007 a disastrous year for Bear Stearns, one of the nation’s largest underwriters of mortgage bonds. Beginning this summer with the housing slowdown, Bear Stearns has stood as the prime example of how Wall Street’s big bet on securities based on risky home loans went south. Did you see this: Bear Stearns may be near the end of a long innings www.chinaview.cn 2008-03-16 08:30:43 BEIJING, March 16 -- Bear Stearns Co's 85 years as an independent Wall Street firm may be coming to an end as JPMorgan Chase and Co considers buying the crippled company. Teetering on the brink of collapse from a lack of cash, Bear Stearns got emergency funding on Friday from the United States Federal Reserve and JPMorgan in the largest government bailout of a US securities firm. The move failed to avert a crisis of confidence among Bear Stearns' customers and shareholders, who drove the stock down a record 47 percent. After denying early last week that access to capital was at risk, Bear Stearns Chief Executive Officer Alan Schwartz said the company's cash position had "significantly deteriorated" by Friday. The Fed agreed to provide financing through JPMorgan for up to 28 days, the bank said in a statement. The Fed acted to prevent the failure of the second-biggest underwriter of US mortgage bonds and forestall a potential market panic as losses by banks and brokers reached US$195 billion and stocks plunged for a third day last week. You can just imagine the rates Nexus Hospitality would have to pay on that $6 million, along with the highest energy costs in the nation and the most employee red tape. This is a done deal,right............. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 16, 2008 Report Share Posted March 16, 2008 The high energy costs in NY ar Ryan's fault. So is all the red tape, high workers comp costs and the national economy going south. In fact, every problem in the world is Ryan's fault. Thought you would want to know. ed Link to comment Share on other sites More sharing options...
Guest Guest Posted March 16, 2008 Report Share Posted March 16, 2008 The high energy costs in NY ar Ryan's fault. So is all the red tape, high workers comp costs and the national economy going south. In fact, every problem in the world is Ryan's fault. Thought you would want to know. ed No, of course they are not his fault. But to announce a deal and present is as done when the financing is not in place and there are a dozen exit clauses is ridiculous. That was Ryan's fault. He is so eager for good news he constantly jumps the guns. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 10 days......... Link to comment Share on other sites More sharing options...
Ed Arzouian Posted March 17, 2008 Report Share Posted March 17, 2008 10 days......... I wonder if they will pull it off. Worried Matt? Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 I wonder if they will pull it off. Worried Matt? Lending is drying up..., we're lucky the market did not crash this morning, I doubt they will find financing. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 17, 2008 Report Share Posted March 17, 2008 Another business day has closed. There are now 9 days left in the Sales Contract between the City of Binghamton and Nexus Hospitality which was signed on December 27, 2007 and has already used up a 60-day extesnion and is going through an additional 30-day period. We can assume each month has cost the City of Binghamton $5000, that's another $15,000. No worries though, the City had time to raise another flag today. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 As the markets open this morning.... Another business day has closed. There are now 9 days left in the Sales Contract between the City of Binghamton and Nexus Hospitality which was signed on December 27, 2007 and has already used up a 60-day extesnion and is going through an additional 30-day period. We can assume each month has cost the City of Binghamton $5000, that's another $15,000. No worries though, the City had time to raise another flag today. 9 days..... That $6,700,000 offer that was turned down almost a year ago is beginning to look real good.......... Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 Why would someone who a short time ago wanted to help the City's residents now be so gleefully calling out hard times and destruction? The answer is quite obvious. One who would see people hurt in order to satisfy their own vengance is no leader and unfit for public office. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 Better to have the deal fall apart now than see it collapse in a few months and go through this whole thing again. Had Ryan taken the $6,700,000 last year we would not be having this discussion. Instead he took a deal for $800,000 less (less a commission) and some unwritten, unenforceable pie-in-the-sky promise of a future investment from guys that can't even close the first deal. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 Better to have the deal fall apart now than see it collapse in a few months and go through this whole thing again. Had Ryan taken the $6,700,000 last year we would not be having this discussion. Instead he took a deal for $800,000 less (less a commission) and some unwritten, unenforceable pie-in-the-sky promise of a future investment from guys that can't even close the first deal. So you know for a fact that the other people had their financing buttoned up? Of course you don't, because they didn't. You are making all kinds of assumptions about whether they will get financing or not, always being the negative, always pretending that things are the way you think they should be - always looking for things to fail. It is a damn good thing your candidate did not get elected. It would be an administration based on trying to figure out why things can not happen, rather than attempting to make them happen. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 Why would someone who a short time ago wanted to help the City's residents now be so gleefully calling out hard times and destruction? The answer is quite obvious. One who would see people hurt in order to satisfy their own vengance is no leader and unfit for public office. Can you imagine the backroom politicking and vengeance-driven policies of the Naima! administration had she won and appointed Ed to Tarik's current position in City Hall? Tarik and Matt may be incompentent, but Ed would be a hundred times more spiteful and retaliatory. It would have been a disaster of epic proportions. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 You got that straight!!!!! Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 Can you imagine the backroom politicking and vengeance-driven policies of the Naima! administration had she won and appointed Ed to Tarik's current position in City Hall? Tarik and Matt may be incompentent, but Ed would be a hundred times more spiteful and retaliatory. It would have been a disaster of epic proportions. Your post makes no sense. But at least you admit Matt and Tarik are incompetent. That is a start. How and why would Ed be retaliatory if he won? Let's be realistic for a change, Nexus Hospitality has been trying to put together the finiancing for this deal for more than a year. These people were talking to the Sarkisians before the City took over the place. Both groups were. "The city chose Nexus from several offers, including one from a New York City-area firm, Ronak Development Ltd., which says it offered more money for the building. City officials would not release details of the Nexus bid -- Ryan said specifics of the deal, including the purchase price, will be made public when Nexus signs a contract as early as this week -- but the city would need at least $5 million to settle the federal debt. Edward Revere, a realtor representing Ronak, said, "We were disappointed that our $6.9 million offer was not accepted. Their reason, they said, was they felt a little more comfortable with the other individuals."" (So it was really a $1,000,000 larger bid so even with the supposed 10% commission it was a $210,000 better deal, not the $6.7 million deal Tarik quoted to us) http://72.14.205.104/search?q=cache:bIPULV...;cd=1&gl=us If Nexus had its financing why did they need an additional 30-day extension on top of the 60-day delay? Who knows maybe they will pull a rabbit out of a hat. It is unlikely the city would ever see the additional $4,000,000 investment which is what was supposed to have swayed the final decision to go with them and accept at least $210,000 less. Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 Your post makes no sense. But at least you admit Matt and Tarik are incompetent. That is a start. How and why would Ed be retaliatory if he won? Let's be realistic for a change, Nexus Hospitality has been trying to put together the finiancing for this deal for more than a year. These people were talking to the Sarkisians before the City took over the place. Both groups were. "The city chose Nexus from several offers, including one from a New York City-area firm, Ronak Development Ltd., which says it offered more money for the building. City officials would not release details of the Nexus bid -- Ryan said specifics of the deal, including the purchase price, will be made public when Nexus signs a contract as early as this week -- but the city would need at least $5 million to settle the federal debt. Edward Revere, a realtor representing Ronak, said, "We were disappointed that our $6.9 million offer was not accepted. Their reason, they said, was they felt a little more comfortable with the other individuals."" (So it was really a $1,000,000 larger bid so even with the supposed 10% commission it was a $210,000 better deal, not the $6.7 million deal Tarik quoted to us) http://72.14.205.104/search?q=cache:bIPULV...;cd=1&gl=us If Nexus had its financing why did they need an additional 30-day extension on top of the 60-day delay? Who knows maybe they will pull a rabbit out of a hat. It is unlikely the city would ever see the additional $4,000,000 investment which is what was supposed to have swayed the final decision to go with them and accept at least $210,000 less. Well, lets put it in simpler terms if you don't understand what the poster was saying. YOU ARE A FUCCKING WHACKJOB WHO IS OBSESSED< MENTALLY UNSTABLE AND SPEND YOUR ENTIRE LIFE SEEKING RETRIBUTION AGAINST THOSE THAT YOU FEEL HAVE SOMEHOW WRONGED YOU!! Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 Here is a simple question for ya ed (one that you have not answred for months now however). Why do you post somewhere between 25,000 and 40,000 times about the mayor and the city of Binghamton ( a city you dont live in, work in, own property in or pay taxes in)? what is your obsession with the mayor? and why do you not see (like the rest of the world does) that this outrageously high number of posts is indicative of someone completely obsessed? Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 I don't know Ed, but you seem to have quite the obsession about HIM! Link to comment Share on other sites More sharing options...
Guest Guest Posted March 18, 2008 Report Share Posted March 18, 2008 I don't know Ed, but you seem to have quite the obsession about HIM! Nope Link to comment Share on other sites More sharing options...
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