Well well well, here we go again, prepare to get your pockets picked, Intrawest...Which owns Whistler Blackcomb, Fortress which owns Intrawest...Fortress owes a group of lenders including the now defunct Lehman brothers....Fortress will need to make a $600 million payment to the lenders to prevent the olympics from being cancelled!
UPDATED Again at 7:30 pm Read this link first,that`s where it all started---My hero--Friends of Nemaiah Valley--Betty Krawczyk was the first to bust the story on how illegal the althletes village deal is...People laughed,....Read her post,check out the date of her post.. http://bettysearlyedition.blogspot.com/2008/02/for-love-of-olympics.html
Betty Krawczyk is one class act----There should be dozens of people in jail on racketeering charges including Gordon Campbell!
Lets start from the beginning, way back when, it started under Larry Campbell, carried on with Sam Sullivan.....BC was awarded the 2010 Games(Selected for robbery) ..The first order of business was to start building an Olympic athletes village, and who were we going to get to build the village? First off the land was free in the sense that the city of Vancouver was providing the land, now look friends, we have some great builders in this city,builders with money,capital and experience, builders like Wall Development, Concord Pacific,big companies that bid to build the Athletes village, and,....These companies had their capital to build, capital and assets, but no, City council gave the project to a company with SWEET BUCK ALL...!
My oh my,what choices, shall we get a builder with assets and a good reputation for building large projects? No sirree Bob, behind the scenes, the mayor and Vancouver city Council hem and haw and they choose no other than Millenniun Development ,who the hell is Millennium development, well I have looked and as far as I can see they are really nothing but a shell!...Of Course Paul Barbeau (a backroom Vancouver city council insider) is connected to Millennium development, why is that important, because, who in the hell okayed Millennium Development when they had no money and not even a "pot to piss in".
So we`re off and running, lets build a village, my oh my, we must of course have friends of Gordon Campbell and friends of the dealer of this stacked deck of cards, so no other than Ken Dobell was chosen to get bi-weekly updates on the status of the olympic village, you must remember Ken Dobell, he was in charge of the $500 million over budget Vancouver trade and convention center, of course he was removed after money seemed to vanish into a black hole and construction was going sideways, anyways, Ken Dobell was the guy getting bi-weekly updates on the Athletes village and he was reporting to Gordon Campbell(Dobells personal friend) and Vanoc....
Well, we know what happened, Millennium development didn`t have a pot to piss in so how were they to finance and pay for workers and materials, well what else, Millenniun Development goes to no other than Fortress hedge fund and borrows( at usury rates) from the criminals(IMO) known as Fortress, Fortress is known for lending money at such rates that ultimately they repossess the projects after the borrower fails.....And lo n Behold who is Fortress?
Fortress just happens to OWN Intrawest who just happens to own Whistler Blackcomb....Are you getting the picture yet, well, we will come back to that part a little later, so Millennium development signs away its future with Fortress, what happened next, certainly Ken Dobell is keeping us up-to-date....Yea right(insert sarcasm here)....The athletes village goes sideways,sound familiar? you betcha, money seems to vanish into a black hole and nothing is getting done and Millennium Development runs out of money and the project is dead, now what, bring on the taxpayer, Gregor Robertson asks his Friend Gordon Campbell to allow Vancouver to rewrite the Vancouver charter so the the city of Vancouver could borrow upwards of $800 million dollars to pay-off Fortress(who owns Intrawest,who owns whistler/Blackcomb).....So that`s what happened,a special session of the legislature was called(on a week-end) ....And the reason Gordon Campbell held the session on a week-end even though the NDP wanted a mid-week session to start the Monday Before the week-end session, the reason was because of Parliamentary rules if there is a week-end session there IS NO QUESTION PERIOD.....Because of course Gordon Campbell didn`t want to answer any questions about his friend Ken Dobell, or about how Vanoc and Vancouver city council chose Millennium development, a company with nothing,no money, a company that used the land that the city of Vancouver GAVE for the athletes village for collateral ,no siree ....Gordon Campbell did not want to answer questions about all his development friends which include Jack Poole/Concert properties,Ken Dobell and all the usual suspects...
So the Vancouver charter is changed,the city borrows hundreds of millions and pays off the loan shark known as Fortress, the taxpayer of Vancouver in my opinion will being paying higher taxes for decades to pay off the athletes village ponzi scheme orchestrated by all of the above mentioned!
And everyone gets in on the act..Millennium using leverage got a big chunk of land in Nanaimo for 10.00$ that`s right, ten dollars, Millennium was to build a big hotel,but like I said Millennium had no money,none, the city of Nanaimo spent a fortune on Millennium,they gave them extension after extension only to finally kick Millennium out and start from scratch, today Nanaimo still doesn`t have a big hotel to compliment the trade and convention center.http://thetyee.ca/Blogs/TheHook/Municipal-Politics/2008/11/07/NanaimoDefault/
Millenniun used their leverage in West Vancouver as well,and defaulted there. http://thetyee.ca/News/2008/11/07/OlympicVillage/
Look friends,the athletes village was a snow job from the very beginning,Gordon Campbell,Ken Dobell, Larry Campbell/Sam Sullivan/Paul Barbeau/BC Liberals/Intrawest/Fortress/Vanoc/IOC.....And you my friends are going to pay for this snow job for decades! Don`t forget that Millennium development HAD to GIVE over $1 million dollars to Vanoc to be an olympic sponsor? Does that make sense, the builder of the athletes village having to pay Vanoc to be a sponsor, What a Racket!
So now you have a little history, well I was listening to the news this morning to hear about the second installment of the Gordon Campbell Ponzi Olympics, ....Whistler Blackcomb, which is owned by Intrawest, which owes Fortress....Well well well, Intrawest owes the hedge fund known as Fortress $1.6 billion dollars, a group that includes the bankrupt Lehman brothers who were running what I would describe as ponzi schemes that ultimately brought them down, anyways, Intrawest was supposed to make a $600 odd million dollar payment months ago, they didn`t make it, they were granted a 60 day extension which has now passed, now, the lenders named Fortress are demanding payment or they are going to (within their rights) FORECLOSE on Whistler Blackcomb and hold the Vancouver olympics hostage!
That`s right folks, this ponzi scheme was set up years ago and now unless the government makes good on this payment the olympics could be all but over, the Federal government agreed to provide Intrawest an emergency $50 million dollars to prevent forclosure......
Well friends, Fortress doesn`t want $50 million, they want it all and they have more clout now with the olympics coming then they ever will, the lenders have a right to foreclose on the mountain and are threatening to do so in ten days unless they get paid like a $100 million dollars and friends just watch!.......(read about it here)http://www.nypost.com/p/news/business/intrawest_foreclosure_threat_to_15qRjmzgdwLCkGfNdhdwjI
Friends, something stinks, what are the odds of all these things linking together, this was in my opinion a ponzi scheme from the get-go...Look at the mastermind Gordon Campbell, Ken Dobell, Intrawest/Fortress/Larry Campbell/Vancouver city council/--Who-ever the hell Millennium Development is, yes friends this is beyond coincidence, and in case you are unaware, we have to PAY RENT to use Whistler /Blackcomb for the olympics, despite all the free advertising,despite the venues built on the mountains,despite all of that we are being charged An UNKNOWN AMOUNT of RENT.....You see folks, the rent is a weird formula,it has to do with how many people BEFORE the olympics visited the mountains....That`s the way the deal was structured...
Well well welll, The backroom boys will never have more leverage to force payment with the olympics being held ransom, by waiting they lose that leverage, this my friends in my opinion was the ultimate of all ponzi schemes that was foisted upon the taxpayer, look to the Premier Gordon Campbell...Look to Ken Dobell..Larry Campbell.....Millenniun development...Paul Barbeau..
There is a good read in the CBC http://www.cbc.ca/money/story/2010/01/20/intrawest-whistler-olympics.html
But...The CBC doesn`t connect the dots to the Athletes village, the NPA to Ken Dobell,Paul Barbeau,The CBC story talks about something being worked to save the Olympics,oh the olympics will be saved via a whole bunch of money, who wants to take over a resort with debt, the big lenders will use leverage to get the $600 million dollar payment......Millennium development is connected to Armeco....An Iranian shell company...Follow the money....more links coming
My friend at BC Liberals suck did some excellent work early on.....We tried to shake loose the numbers,I had no blog up at that time but for a ....FIRST-CLASS read....Follow the money..Read this,the story of course was done before this latest development. http://westcoastindienews.blogspot.com/2008/11/something-stinks-in-vancouver-follow.html
One more important point my friends...We, the city of Vancouver had to rescue the athletes village from the hooks of the New York hedge fund known as FORTRESS...to the tune of hundreds of millions and now someone(The Taxpayer) has to save Intrawest from a bigger player in the loan shark game? There is some sick ponzi scheme going on, as for the CBC or the Globe and Mail or any media, without explaining the background of the Olympic athletes village and the city of Vancouver bail-out PAID to Fortress the story doesn`t make sense, only when you connect the dots and the players can you see the extent and sophistication of the snow job! -----Here is a deadly link that tells how Concert properties was literally gifted millions from the Gordon Campbell Government in this olympic snow job---Updated 7:30 PM-- Shocking storyhttp://www.straight.com/article-93176/developers-are-the-games-real-winners
And don`t forget to check out Laila Yuile excellent piece of investigative research...Here http://lailayuile.wordpress.com/2010/01/20/you-heard-it-here-locally-first-today-cbc-tells-more-of-how-intrawests-troubles-are-threatening-the-olympics-in-whistler/
I have more links to come,this story is a work in progress.
The Straight Goods
Cheers-Eyes Wide Open