$190 Million? Maybe the seller (or his creditors) will take less

man in a barrelBuried in the comments of this original story on the Mead Point listing are lots of links to the owner of Greenway’s financial woes, but this one probably explains what’s happening to the timber baron’s empire.

There’s another story here.

And just for color and for fans of naked drunken Harvard rugby players, there’s this.


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19 responses to “$190 Million? Maybe the seller (or his creditors) will take less

  1. `

    This pesky internet has really wreaked havoc on the public relations business. Maybe they should charge for access to get rid of rabble rousers like you and your friends.

  2. infoDiva

    I checked out the BofA foreclosure against Copper Beech Farm and the Rudeys on Pacer and it appears that the case was dismissed last August.

    • Mickster

      That might have been around the time the apartment in NYC closed??

      • Riverside

        I don’t have access to the lawsuit documents, but I recall that the BofA mortgage was in the neighborhood of $50M. They may have been able to get the underlying loan current or refinanced, but from what I understand the business is heavily indebted and the estate (Copper Beach Farm) was collateralizing the loan.

  3. AJ

    The Rugby article is a great one because it proves a number of points.

    First, if Mr. Rudy had spent more time on the streets of New York instead of in the penthouses of New York, he might have been smart enough to not be charged with providing alcohol to minors and reckless endangerment. Going back to that landmark case of Darien, you’d think a person of means would know better.

    Second, it just adds to what everybody already knows, given that Bush, Obama, Gore, and the Unabomber (the odd man out, or maybe not) were all attendees; Harvard is an express ticket to becoming someone who acts like an overprivileged asshole with a overly grand sense of entitlement. As Barbara Bush would say, speaking of the people who lost everything in Hurricane Katrina, “What are they all complaining about: they’re all just underprivileged people anyway.”

    Third, and this one’s for Walt, who, in response to one of my CFR member, Angelina Jolie comments, posted, “… And declare it black and white that she did it for the money. A woman worth millions and millions of dollars, That is just cruel. …”

    It’s never about money, Walt; always about power. Power trumps money every time (and with power comes money). You can have millions of dollars in the bank and not even be able to get a parking ticket fixed. Or on the other hand, own a “$190,000,000” fifty acre piece of property, and not even be able to keep yourself from being arrested for something stupid.

  4. Walt

    Dude –
    Can you please explain to AJ, that fewer words, when well written, are more compelling than a disjointed barrage of conspiratorial mumbo jumbo? So he should learn that surrender is a viable alternative.

    AJ is just like a dog, sitting on the couch and licking its balls. They can do it, but that doesn’t make it right. And no one really wants to watch it.

    Your Pal,

  5. When EarthImage was a young and handsome consulting forester fresh out of Yale Forest School, the said Harvard grad (father) hired him to classify Copper Beech Farm as forest land under the new “current use” valuation rule.

    When EarthImage declined to map open pastures and lawn as forest, the said owner of Copper Beech fired him, earning the distinction of being the only client to do so in four decades of consulting work. (Note: the “arborist” forester from Alpine did the deed.)

    Mr. Pruner mentioned the re-capture law for taxes. That does not apply to long-term forest holdings.

    How ironic that forest law is now that downfall of the empire. Oh well, for God, for Country and for Yale!

  6. `

    Forest designation for open lawn? Fraud anyone?

  7. AJ: all the Bushes went to Yale, unless you count Harvard Business for W, which you shouldn’t.

  8. AJ

    You’re right Balzac, and I was counting W (I’m sure it was Harvard and not Yale where he picked up all his Bushisms), but the Bushes are in a special league — read Webster Tarpley’s George Bush: The Unauthorized Biography to see what I mean –and Barbara Bush’s comments are archetypal of the 1%, which is why I felt them worthy of mention.

    “George Bush: The Unauthorized Biography” in full —

    Click to access THE%20UNAUTHORIZED%20BIO%20OF%20GEORGE%20BUSH%20SR..pdf

    • AJ

      Sorry about the above link: it won’t work because the “..pdf” is part of the url. To link, copy the above link, including the ..pdf and paste it in your address bar.

  9. Old Timer

    Regarding strange things that happened on that property, don’t forget the 1952 incident where some druggie left a blonde haired 16-year-old girl from Milwaukee locked in the trunk of a car that was left there. She was dead when police opened the trunk. A sordid tale of teen pregnancy, prostitution and drugs.