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Rumor: Papa Doug Buying U-T
7.I doubt if Doug is dumb enough to overpay for real estate - he would not buy the UT to shut it down. Much better real estate available at less cost. Get a clue. ========== According to Don, Platinum Inequity bought the U-T from Copley Press for less than the value of the real estate. This indicates that the U-T as a newspaper is essentially worthless. It appears that the paper would require millions in capital investment to remain viable, for example new printing presses and millions more for technology upgrades. This investment would likely never pay off in profits. The paper is a rotted out hulk waiting to slip beneath the waves. If Manchester buys the U-T, it will be for the value of the land, not the paper. If Manchester buys the U-T, he will likely shutter the paper and develop the land.— September 29, 2011 11:05 p.m.
Rumor: Papa Doug Buying U-T
If Papa Doug buys the U-T, he'll probably keep the real estate and shut the paper down. He would then build a huge office complex on the Mission Valley headquarters site to recoup his investment. Platinum probably realizes at this point that the paper is going to have to be shut down, but doesn't want to go through the stress of having to fire everyone. Gores is trying to establish himself as the new Donald Trump and does not want the negative publicity a mass layoff would entail. I would start monitoring the WARN notices for a big layoff at the U-T.— September 29, 2011 8:04 p.m.
Carriers' U-T Case Certified as Class Action
The U-Ts attempt to exploit these carriers by robbing them of unemployment, workers compensation, and disability benefits is truly sickening. It is not clear who is being sued: the old Copley Press or Platinum Equity. If David Copley is the responsible party, I hope the jury goes hog wild and ruins him with a huge judgment. I am very concerned that if Platinum Equity is culpable, it will fire more U-T employees if it is hit with a judgment.— September 27, 2011 11:39 p.m.
Sanders Pushes Car-Free Zone in Balboa Park
It makes far more sense to locate the parking structure on the far side of Florida Canyon, across Florida Drive near the bicycle velodrome, far away from historic and sensitive parkland of Balboa Park. Then, the lot could serve both Balboa Park and the Zoo as well. The City could build a rustic footbridge out of telephone poles to cross Florida canyon to connect the new parking lot with Balboa Park. We should not destroy Cabrillo Bridge or rape parkland solely to enable the wealthy to have a new parking structure so that they can more easily attend functions at the Old Globe Theatre and the art museums. I don't want any change or alternation of Balboa Park in any form. Balboa park should not be destroyed merely because some elderly eccentric with money wants a parking structure for his limo.— July 5, 2011 10:38 p.m.
Scripps Investments & Loans 17 percent return didn't last
Who knows some journalist one day will write a book on this company. Another good read is Captain Money and the Golden Girl which covered La Jolla financier D.David Dominelli ========== Captain Money is filled with gratuitous sex and violence. I can't recommend it. Judge Gilliam had Don ejected from the courtroom during Nancy Hoover's trial for making faces at her when she testified. Judge Gilliam made Don stand before the bar of justice and explain why he should not be found in contempt of court.— June 25, 2011 10:54 p.m.
Manchester Didn't Rake in Big Bucks on Hotel Sale
The link below shows what Mission Valley looked like in the early 1960s, just as the developers were beginning to rape it. http://www.johnfry.com/pages/PhotoRozelle13.html— June 25, 2011 11:51 a.m.
Man Hides From Cops in Attic
I wonder whether Castaneda has grounds for a lawsuit against the San Diego Police. He was not actively resisting arrest when he was attacked by the dog, he was merely hiding.— June 23, 2011 11:12 p.m.
Manchester Didn't Rake in Big Bucks on Hotel Sale
If you keep robbing Peter to pay Paul, pretty soon you'll have no Peter. THEN what? ================ Duke Cunningham asks himself that same question every day.— June 23, 2011 8:53 p.m.
Manchester Didn't Rake in Big Bucks on Hotel Sale
The $169 million may well have been totally offset by operating losses generated during the period Papa Doug owned the hotel. The hotel could have been losing as much as $20 million per year, maybe more. The hotel could have generated a combined operating loss for all years approaching $100 million. Nobody knows for sure. Papa Doug likely broke even at best. It's hard to see how the hotel could have made money, not with $403 million in debt. The interest cost alone assuming a 5% interest rate would total $20 million per year. It is also likely that Papa Doug had to use most of the money to pay his ex-wife off. I'm not convinced that Papa Doug came out ahead on the deal.— June 22, 2011 7:48 p.m.
Burl Stiff Leaves Money, Items to San Diegans
It looks like Burl has gone to his maker with a clean name, and free from the stench of having been a Copley hack.— June 18, 2011 10:58 p.m.