Wednesday, July 16, 2008

Larry Myler Update: Contractors and Lenders Fight Over Who'll Be the First to Be Paid

Friend of Matt (FOM) Myler adds new meaning to the phrase "going for broke"

Just for the sake of archival consistency, we'll post the latest news in the deteriorating Larry Mylar multi-county Mid-town Development situation. For the full history, check out our blog archive here.

The Provo Herald published an article on Larry's latest travails with respect to his Orem "Midtown" project yesterday; and the Deseret News followed it up with its own revealing article early this morning.

As all our regular gentle readers will recall, Larry Myler was the bigshot developer who trumpeted a 14-story hotel development here in Ogden in January of this year, (complete with a gondola portal and fancy water park,) only to put the project on hold in February, under the pretext that Boss Godfrey and his A-Team "had misplaced 275 parking slots" -- or so was the transparently lame explanation.

What's fairly obvious from each of the above stories is that Mr. Myler is broke, and that his next publicity will no doubt involve the U.S. Bankrupcty Courts.

So what about it, gentle readers?

Did Ogden City dodge a bullet, or not, with regard to this typically insolvent Friend of Matt?

Just for fun, can any of our gentle readers name one single FOM who IS NOT broke, these days?

10 comments:

Curmudgeon said...

First, thanks for the pointers. I would not have seen either story otherwise.

Monotreme said...

I liked this part in the Des News:

"There's too much money in the project for it not to be finished at this point," Larry Myler, project owner, told the Deseret News when construction stopped. "It will be finished eventually. My main goals at this point are to take care of the contractors, take care of the buyers and continue working with our bank. We will get through this market together. We will make it work together."

Myler was out of the country Tuesday and could not be reached for comment.


Two observations:

1. What? Myler thinks he is Fannie Mae or sumthin? What makes a project "too big to fail"?

2. Out of the country when you're $18M in the red? Can anyone here say "unlawful flight to avoid prosecution"? If Myler does get hauled into court at some point, my bet is that a prosecutor is going to read that little sentence in the Des News into the court record at the bail hearing.

danny said...

I like this quote, from a former article from the informative WCF archives:

“That (notice) will be cured and taken care of shortly. It is a nonissue,” Myler said of the overdue amount. “I don’t think anything is going to affect the project.”
Myler said the team is not going to allow a $100 million project, which involves a $2 million investment having been already made, to be done in by a $54,000 interest payment.
The development team has 60 to 90 days to catch up the overdue amount, Myler said, “which we will do. That is the easy part.”

Myler is another lying sack of crap, like Geigers, like Lesham, like Peterson, like Bernanke, like Paulson, like most of this country's butt-sucking CEOs.

Hey Godfrey, where's your buddy Myler, you a-hole? Done any boot licking lately? Go visit the parasites Dowse and Goode for a three-fer.

All the scum are going down this time. Take out the garbage.

disgusted said...

it will be interesting to see how the city of clearfield will spin this story to their residents. as i remember they are joined at the hip and are already spending money with this developer. maybe the developer used some of clearfields money to maintain his lifestyle and go out of country.

Ogden Resident said...

I was sorry to read in today's paper that Sharon Beech has passed away. I enjoyed her wit, her intellect and her willingness to challenge those in power when she thought they were wrong.

Bill C. said...

Sharon will be truely missed. She set a good example of how a citizen can inform themself and get involved, we need more like her.

Curmudgeon said...

OR:

I missed the notice. Thank you for letting us know. She was an original. I will miss her too, and I'm glad I had the chance to know her.

dan s. said...

Sharon and I must have disagreed on politics about 90% of the time. We became friends because of the other 10%. Quickly I grew to respect her tremendous integrity and selfless dedication. And her razor-sharp wit was always a breath of fresh air (sorry about the mixed metaphor). I wish I could have known her better, and for longer; she must have had a very interesting life and influenced many people. We'll all miss her terribly, and Ogden is greatly diminished by her loss.

Here's the text of the obit from today's paper:

Sharon Lynn Floe Ernst Beech

OGDEN - Sharon Lynn Beech passed away Monday, July 14, 2008 in Ogden, UT.

Funeral services will be held Wednesday, July 23, 2008 at 11 a.m. at the Country Hills Ward Chapel, 1401 Country Hills Drive.

Friends may call at Lindquist's Ogden Mortuary, 3408 Washington Blvd., on Tuesday, July 22, 2008 from 6 to 8 p.m. and Wednesday at the ward chapel from 9:45 to 10:45 a.m.

Interment, Provo City Cemetery.

Please see full obituary in Sunday, July 20th Standard.

Send condolences to the family at: www.lindquistmortuary.com.

ozboy said...

So long Sharon, it was one hell of a deal knowing ya.

fly on the wall said...

God speed Sharon, you are truly one of a kind. You will be missed.

Thanks for all you did for me.

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