One of the surveying magazines had a write up about this project a few years ago.
Doesn't surprise me a bit.
And couldn't happen to a nicer bunch of folks........
For SC
You're starting to sound like the folks on the other side of the planet that said the same thing about the twin towers.
For SC
No American is responsible for their island sinking.
Hope they are hiding their gold there. When they need some, it will be as easy to find as Blackbeard's treasure.
For SC
Not at all.
This is a group of folks who got rich on money we pay for their oil, in many cases by jacking up the prices indiscriminately.
They spent their money however they wanted, and this is what they got.....am I supposed to feel sorry for them?
For SC
Costs all of us simply because the project has no value but the money that built it did. If the money had been transferred to others for whatever reason in exchange for whatever had and still has value, that value would still exist, this is a loss of money to the world.
jud
For SC
Sounds like the project is "under water" in more ways than one.
Trying to find some sympathy....nope, not there.
For SC
My first reaction was with SC.
My second is similar to Jud, but I don't like the way he put it. Transferring the money to some other use may or may not have gotten something of value.
What the world lost here is the physical resources and labor that went into something that no one benefits from.
Another downhill trend in Dubai
Heh. Maybe an island is now out of the question, but don't give up your summer ski trip plans.
Another downhill trend in Dubai
You don't have to go to Dubai.
Here in NJ, right next to the New Meadowlands Stadium (as yet un-named.....no corporate sponsor will step up) where the Jets and Giants play their home games, lies Xanadu.
http://visitmeadowlands.com/thingstodo/
Of course, the project has been dormant for two years, not one store, restaurant or attraction has opened (or even been fitted out), and no one can be found to run the indoor ski slope (insurance problems, supposedly). Cabela’s, the project’s prospective anchor tenant, has cited leasing clauses to opt out of opening there, as have two major movie theater companies. A New York Times article quoted one critic describing the huge complex as looking like "the world’s biggest air vent covered in Play Doh."
This $ 2 billion money pit sits waiting for a new operator, after having bankrupted it's original developers, and imposing crushing debt on the new owners.
If you want to see a white elephant (although those awful colors in the picture are what presents to drivers on the nearby NJ Turnpike), come on out to the Meadowlands!
