The Whole Story

I don't think we're getting the whole story when it comes to the plight of the "Plush Club." How can the owner have a 99 year lease on his own building and be owed almost $80,000 from the present tenants ? I think this deal has something to do with the city's agreement with the "Beale Street Developement Corporation." Which has been an ongoing court battle for many years. http://indepcons.blogspot.com/search?q=bilked

I knew it was just a matter of time before other businesses on Beale spoke out about this. Today John Elkington of Performa Real Estate spoke up and Plush Club landlord George Miller had no comment. I don't understand why they wouldn't be together on this. I'll be listening to see how this thing turns out. Though I don't think we'll get the whole story http://www.commercialappeal.com/news/2010/may/13/owner-seeks-court-order-close-beale-streets-plush-/

Are Citizens Being Bilked On Beale

I don't want to be a albatross, or as the bearer of bad news be called a "spook at the door." For me it has to do a lot with a little thing called "facts." Unfortunately when we look at them objectively, they don't always lead us where we want to go. Some people are all excited at the prospect of a big payday in a matter that hasn't been solved in twenty-four years. I think we may be finally getting to the long awaited end to this saga, but I don't think it will have the end many people expect. When the smoke clears nobody will become rich that already isn't.

At last public accounting the city owed Performa Inc., two and a half million dollars. That was almost twenty years ago. I would be willing to bet, that number went up before it went down. When you take into account management fees, operating costs and the money owed "Performa" for the cost of street development, the city's payday might not be that much.