Thursday, January 29, 2009

Leshem Files Opposition to Bankruptcy Court Home Depot Motion

The Std-Ex is inexplicably "all over" every detail of the Cover-All, Inc. bankruptcy story

By Curmudgeon

Well whaddaya know? In this morning's Standard Examiner --- believed by some in these parts to be little more than a Godfrey Administration house propaganda organ -- there is yet another article detailing the on-going economic and legal problems of Mr. Leshem [prominent FOM and Godfrey Administration choice to develop the entire River Project]. By my count, this makes the third article on the subject of Mr. Lesham's financial and legal problems the Std-Ex has run in the last two weeks, plus an editorial regarding same, and the implications for Ogden's River Project.

I don't know, folks, but this seems like a very odd way for what's alleged to be a Godfrey Administration house organ to behave.

15 comments:

drewmeister said...

Thank you for the heads up Curm. The Leshamville soap opera (Like millions of dollars pouring down the drain, these are the days of our lives..) gets more bizarre by the day.

However, with all due respect, just because the Gondola Examiner posts a few articles on the rotting flesh of one our most retarded FOM's, doesn't mean they aren't still Godfrey's mouthpiece.

After all, Fox News criticized bush a couple of times. In eight years. I would hardly call Rupert Murdoch a muckraker.

althepal said...

"I don't know, folks, but this seems like a very odd way for what's alleged to be a Godfrey Administration house organ to behave."

Maybe Ozboy is right. Perhaps somebody put something in the SE's water.

what will it cost us said...

The mayors call in is tonight from 5:30 to 6:30 live on channel 17. Might be a good forum to watch him squirm live.

The city is also doing away with dump passes to save money. They will have dial a dumpster, but I look at it as another city service gone.

RudiZink said...

Schwebke is doing great with the reporting of this story. Reading between the lines, I'm going to assume that Schwebke's most two recent stories relate to a creditor motion for relief from automatic stay, but without a view of the actual pleadings, it's difficult to do anything other than speculate.

Perhaps Schwebke could in the future work to find some local BK attorney, and put him/her on speed-dial, just for quotes. Don't get me wrong, Curm, I'm not bitching about Schwebke's reporting.

Leshem's defintely fighting for his financial life in the Cover-All, Inc. proceeding.

And whether the lumpencizens of Emerald City realize it or not, The financial failure of Gadi would be serious bad news... long term... For Ogden.

ozboy said...

Mr. Curmudgeon

The Standard is just hedging its bets and practicing a little diversionary tactic. It has long been established that the modern day Standard has very little integrity or competence in their city and political reporting. They have been, and remain, the main reason the Lil Lord still has power. Without their misleading reporting and editorials* the true nature of the punk would have been brought to the public's attention before the election when it counted.

No way can you sugar coat the fact that the Standard and the Lil Lord are snug and insidious bed mates. I just hope that as more and more of the victimized tax payers of Ogden realize this that it will come back and bite both of them in the ass.

*I do believe that with the exception of the Godfrey fawn pieces they have consistently written good editorials.

Diana said...

"I don't know, folks, but this seems like a very odd way for what's alleged to be a Godfrey Administration house organ to behave."

Lying little Matty and the SE always behave oddly.

Where ya bin, Curm?

Curmudgeon said...

Oz:

Well, being the card-carrying liberal that I am, I think people [and institutions directed by them] can learn from experience and so improve. [Well, ok, not Republicans. But normal people.] And I think I've seen improvement in the SE both in its news columns and on its editorial pages.

Yes, the SE endorsed Hizzonah for re-election, and was not as demanding and inquisitive in its news coverage during the campaign as I thought it should have been. And in an election as close as the last mayoral one was, the SE's endorsement and less-than-bulldog tenacity in its coverage may well have made the difference. I wouldn't challenge your conclusion about that, Oz.

But much has happened since, and the general tone of the questions the paper has been asking editorially suggests to me a growing awareness that Hizzonah's certainties regarding several of his projects have proven to be substantially more speculative than he --- or the SE editors --- thought at the time. [I conclude this from what I've been reading since the election. I've not spoken with any editors. I do not much frequent Officer Country in Ogden, Oz.] Maybe I'm wrong, but I think I detect evidence of a more skeptical and questioning approach to Ogden governance emerging at the SE in light of events since the election. The excellent on-line editorial and expose' about the Leshamtown Slum marked, I think, a change. Could be wrong, of course, but that's how it looks to me.

And since I think all newspapers should approach all statements by all elected officials with a gimlet and suspicious eye, and ask all of them "got any evidence to back that claim up?" a lot more frequently than they do as a rule, I think this is a good development.

Cynicism has its place, Oz [how could someone posting as "Curmudgeon" argue otherwise?], and god knows modern politics and government provides lots of reason for it. But overindulging cynicism can get in the way of noticing change and, sometimes, improvement, if you let.

We shall see.

Bill C. said...

Leftenant lee carter of the squirrel patrol, and managing editor of the gondola examiner got the memo from lying little matty saying it's ok to trash gadi now, he served his purpose and is no longer of value to them. He consolidated most of the properties for them. They are actively looking for sucker #2 to buy gadi's holdings for pennies on the dollar.
Even if gadi's actions were upheld by the court and Home Depot can't terminate the business relationship, which is a stretch, this guy is 25 million in debt, and the IRS and State of California are chasing his ass for more. He would never be able to do any developing in our lifetimes.
That is unless you believe the City would dive the deepest they possibly could into debt to fund gadi, simply because he still has title to the property.
No, gadi I believe is about to be squashed by the tires of a runaway bus to probably nowhere, lying little matty at the wheel.

disgusted said...

imho the se is poking at a dead snake now that they think it cant hurt them. they are behind the curve and have been relative to this guy for a while. this guys mode of operation had already caught up with him quite a while ago. this is one of the actual good things that happens in an economic slowdown. it weeds out the weak and the wheeler dealers and the leveraged.

Bill C. said...

Hey, disgusted, don't be surprized if we see this river project parceled out, as we've discussed, and the gondola examiner praising lying little matty for his insight in dealing with the gadi fiasco.
It's going to be hard enough to find three seperate developers that are willing and able to take this stuff on in this ecconomy, a single one was improbable from the start. Gadi never had a prayer and lying little matty knew that, but what finally will be his doom was himself.
If the City hadn't of adopted the silly modified Ellis version of a mixed use ordinance, designed to exclude the small guy, we'd probably see some progress on the river by now. At least an Indian restaurant.

ozboy said...

I liked the analogy of poking a dead snake with a stick! It really does seem to fit the Standard's new found courage in regard to the Godfreyites. However, they have a whole lot of poking to go to make up for the 8 years or so of laying supine in the face of the Lil Lord's perfidy.

On another note, I drove through the so called River Project area today. Parts of it really are like a war zone, especially the 1800 block of Kiesel with the long row of boarded up and burned out shotgun houses. The South side of 18th between Washington and Lincoln looks like something from the West Bank while the North side of the street has a lot of nice looking and well maintained houses. It must be a huge pain in the butt for the people that own those places to look across the street at the havoc created by the idiotic and arrogant actions of the Lil Lord and his robber baron pals. It seems to me that a couple of days of D8 Cat action would go a long way to cleaning up the whole area.

I also noticed there were 3 or 4 houses in the middle of this horrid area that are still occupied. Does anyone know how that came about and what the status of those people are?

danny said...

Rudi, you said,

"The financial failure of Gadi would be serious bad news... long term... For Ogden."

You're usually pretty astute, but on this quote, I can't even imaging what you're talking about.

Gadi's collapse seems like a Godsend to me.

danny said...

... by which I mean it seems like it's heaven sent for Ogden.

On another subject, here is a quote,

The Economist magazine wrote that: "…public credit depends on public confidence…The financial crisis in America is really a moral crisis, caused by the series of proofs …that the leading financiers who control banks, trust companies and industrial corporations are often imprudent, and not seldom dishonest. They have mismanaged…funds and used them freely for speculative purposes. Hence the alarm of depositors and a general collapse of credit…"

Oh, by the way, this quote was from 1907. These things happen, people. The government cannot stop it. But it will end, in time. Give this one another year or two if the government stays out (unlikely) and 10 years or more if the government tries to fix it (probable).

danny said...

Oh, and on the article, thanks to Scott for following this, but think about it. Gadi is suing his customer to force him to continue to do business with him.

Yeah, that's going to work REAL well. Mmmm hmmm. Now we're cooking.

ozboy said...

danny

I for one think it is pretty chicken shit of Home Depot to cut Gadi off before he has finished looting all of their customers and suppliers.

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