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  #1801  
Old Posted Apr 21, 2008, 5:50 PM
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Let's hope it's not idle for too long. I'm anxious to see this project finish.
     
     
  #1802  
Old Posted Apr 22, 2008, 2:17 AM
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this is true, the site was largely abandoned today, had me slightly rattled, I walked by the site about 3 or 4 times during the work day, there was some activity inside the building, I'd say about 10-15 workers in the interior AT A MAXIMUM. Maybe they're waiting until all the contract negotiations are complete?
     
     
  #1803  
Old Posted Apr 22, 2008, 1:25 PM
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Any activity this morning? I usually drive by the site every morning, but took a different way to work today.
     
     
  #1804  
Old Posted Apr 22, 2008, 9:31 PM
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^The slow-down that has been mentioned in the past is currently in progress.

There are still a dozen or 2 workers inside the shell.

Once the financing if "finalized" (remember the money is coming from outside the county so it takes longer), things will pick up again.

Patience...
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  #1805  
Old Posted Apr 22, 2008, 10:38 PM
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Originally Posted by BVictor1 View Post
Once the financing if "finalized" (remember the money is coming from outside the county so it takes longer), things will pick up again.

Patience...
that has nothing to do with anything. Finance is global and can be done with a click of a button. It doesnt matter if the money was coming from China or from a bank in Chicago. Having said that, I hope they dot all the i's and cross all the t's soon. I was just looking for confirmation of the work slowdown from our reporters that overlook the site.
     
     
  #1806  
Old Posted Apr 22, 2008, 10:45 PM
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April 22 - AM

Lower Wacker

Site very quite today ( Tuesday )







NW corner









middle





The Pump is still there









Some work continues





Ramp down to lower parking levels





Temporary power ( NE corner )













The surface peeks through

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  #1807  
Old Posted Apr 23, 2008, 12:23 PM
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http://www.suntimes.com/business/roe...eder23.article

April 23, 2008

DAVID ROEDER droeder@suntimes.com

SHANGRI-HA! Touche for Teng & Associates Inc., the class acts behind the Shangri-La hotel and condo tower under construction at 111 W. Wacker. Their top guys ducked my calls for days before I wrote in this space two weeks ago about how their project was financially pressed. Their reply was to tell friendlier media days later that, presto, they have found $300 million to finish construction on the 90-story building. Except that their own press release said they don't have the money yet.
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Last edited by Steely Dan; Apr 23, 2008 at 3:30 PM.
     
     
  #1808  
Old Posted Apr 23, 2008, 1:27 PM
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^ So is this Roeder's way of trying to vindicate himself or what?
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  #1809  
Old Posted Apr 23, 2008, 1:28 PM
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Originally Posted by cbotnyse View Post
that has nothing to do with anything. Finance is global and can be done with a click of a button. It doesnt matter if the money was coming from China or from a bank in Chicago. Having said that, I hope they dot all the i's and cross all the t's soon. I was just looking for confirmation of the work slowdown from our reporters that overlook the site.
^ Right, but the financing deal doesn't close until June
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  #1810  
Old Posted Apr 23, 2008, 1:40 PM
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^ Right, but the financing deal doesn't close until June
I understand, but that has nothing to do with the bank being overseas.

Lets hope they stick to the closing date.
     
     
  #1811  
Old Posted Apr 23, 2008, 1:54 PM
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Roeder likes to dig himself in deeper huh? He will feel like the ultimate horse's butt when the financing in complete in June. His style of writing in this article is clearly emotional with little basis for what he writes. When did newpapers start outsourcing thier jobs to monkeys? The wheels were in motion for any kind of the financing issues long before he even wrote that article for the slowdown. They didnt put out a press release because of this princess. Thinking that everyone necessarily reads or believes what he writes is a little egotistical.
     
     
  #1812  
Old Posted Apr 23, 2008, 2:15 PM
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roeder is a horrible journalist. whatever happened to reporting the facts? what's with his petty little personal vendettas that infiltrate his "articles"? i'm astonished the man is actually gainfully employed in the journalism business. he is an embarrassment to the profession and to the city.
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  #1813  
Old Posted Apr 23, 2008, 4:04 PM
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Not to stray off topic, but Roeder seems to be pretty much on it. . . just because most of us don't like what he has to say, doesn't make it any less relevent. . .
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  #1814  
Old Posted Apr 23, 2008, 4:12 PM
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^ tom, it's not what he says, it's how he says it. the man is an awful journalist. his "articles" are now little more than petty personal "gotcha" pieces, and even in the parts where he does try to offer some actual insight such as "With Chinese stocks down 50 percent since October, it sounds as shaky as the other financing deals they've tried in the last three years.", he doesn't even bother to mention any of these other shaky financing deals that he references to try to prove his point.

he's an awful journalist, regardless of whether or not i personally like the "news" he happens to report.
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  #1815  
Old Posted Apr 23, 2008, 4:19 PM
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He may not be the best journalist. . . but I think people on these boards are just not happy with /what/ he says and trying to prop up their own hopes for this project without looking at the /facts/. . .
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  #1816  
Old Posted Apr 23, 2008, 5:02 PM
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Tom, he just got an egg on his face last week when they announced that financing is on the way, this piece is clearly an attempt to cover his ass. Notice that everything he says is based off of "it sounds like this" and "well something bad happened in China so the deal is bad" which have no legitimacy to them at all. The stock market in China going down has no effect on whether or not Chinese banks will lend money. The amount of money China's banks have is what matters.

Personally I would take what the developer actually says over what Roder speculates based on how what the developer said "sounds".

Roder is a moron, its undeniable. He's gone down hill the last couple years especially as he constantly wrote doomsday articles about Chicago Spire despite the fact that the Spire constantly proves him wrong...
     
     
  #1817  
Old Posted Apr 23, 2008, 5:24 PM
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Yeah. . . I read the article. . . I think you missed my point(s). . . but let's get back on topic. . . thanks in advance. . .
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  #1818  
Old Posted Apr 23, 2008, 6:42 PM
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Quote:
Originally Posted by the urban politician View Post
^ Right, but the financing deal doesn't close until June
So then is the site going to be idle for the month of May? Our summers are so short I would hate to see a month of good construction weather wasted.
     
     
  #1819  
Old Posted Apr 24, 2008, 2:07 PM
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Quote:
Originally Posted by Tom In Chicago View Post
He may not be the best journalist. . . but I think people on these boards are just not happy with /what/ he says and trying to prop up their own hopes for this project without looking at the /facts/. . .
Tom...with all due respect. This idiot doesn't have his facts concerning this project. It is absolutely criminal that this so called journalist can pontificate his views without having correct facts. Criminal!!!
     
     
  #1820  
Old Posted Apr 24, 2008, 5:05 PM
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Tom...with all due respect. This idiot doesn't have his facts concerning this project. It is absolutely criminal that this so called journalist can pontificate his views without having correct facts. Criminal!!!
....we're getting off topic (but we probably don't have much else to talk about).....I would tend to agree with Tom though........Roeder is the R/E reporter and WT is a legimate story, he didn't have all the facts.....he did the best he could......
     
     
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