Laettner and Davis: Not good news

[devildeac]

From Burlington, NC:

http://www.thetimesnews.com/news/possible-47825-duke-stars.html

[OZZIE4DUKE]

From Burlington, NC:

http://www.thetimesnews.com/news/possible-47825-duke-stars.html
I sure hope that two digits is as long a number as Christian and Brian have to wear during their lifetimes.

[Kimist]

This article is from the Durham newspaper and reports court activity on Friday afternoon.

http://heraldsun.com/view/full_story/15554406/article-Judge--Former-Duke-basketball-stars-not-in-contempt?instance=homesecondleft

Apparently there are multiple properties involved: Durham and Baltimore. I have not been following the news enough to know very much about what has been going on.

k

[OZZIE4DUKE]

This article is from the Durham newspaper and reports court activity on Friday afternoon.

http://heraldsun.com/view/full_story/15554406/article-Judge--Former-Duke-basketball-stars-not-in-contempt?instance=homesecondleft

Apparently there are multiple properties involved: Durham and Baltimore. I have not been following the news enough to know very much about what has been going on.

k
Multiple properties, multiple locations, some developed, some that were to be renovated, many unoccupied or under occupied and not generating (sufficient) revenue due to the downturn in the economy. So like many developers (and many people in the real estate business), large obligations can't be met. I'm not making excuses for them, but their plight is not unique and I'm sure they hope that if they can wait out the demands long enough the economy will turn and they'll dig themselves out of the hole.

[devildeac]

Follow-up from the front page (thanks!):

http://www.heraldsun.com/view/full_story/15554406/article-Judge--Former-Duke-basketball-stars-not-in-contempt?instance=homesecondleft

That's a relief to hear.

[devilirium]

^ No doubt that the economy has hurt them, but CL and BD have shown themselves to be a bit blindsided about being investors in just a number of ways. I was a former tenant at West Village for four years (I will not get into what it was like to deal with Drucker and Falk---their management company). Just observing how they developed West Village from up close, it seemed that they didn't have a complete grasp of what they were doing. In fact, when working for a large reprographics (ie printing) firm in the area, I was advised to stay clear of West Village whenever they wanted us to produce blueprints for the Cobb or O' Brien buildings--they had problems keeping current with the account. They need to delegate the planning to some competent business folks. They are fish out of water when it comes to this stuff.