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| Newsday Article; Should Wang speak out? | |
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| Tweet Topic Started: Nov 16 2008, 08:28 AM (735 Views) | |
| clebo99 | Nov 16 2008, 08:28 AM Post #1 |
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1st line
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Another about the Isles moving on Newsday.com. I'm thinking with Bettman starting to get involved it may start creeping towards a reality. |
| "When you've loved and lost like Frank has, you know what life's all about". | |
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| Dark Helmet | Nov 16 2008, 08:29 AM Post #2 |
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My helmet is bigger than yours
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gotta provide a link dude... http://www.newsday.com/sports/hockey/islan...,4276073.column After reading it... more speculation. :rolleyes: |
| "Evil will always triumph because Good is dumb." | |
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| Islander4cups | Nov 16 2008, 10:51 AM Post #3 |
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In Garth I Trust
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It is spec, but it is the type of article Wang wants to see written. Have the media put pressure on the town to act now. |
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| smittyrules31 | Nov 16 2008, 11:02 AM Post #4 |
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Repeat a lie frequently enough....
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Too much detail to get into here, but I think the credit crunch and economic landscape does not bode well here either. Real estate crashing, businesses folding and banks refusing to lend (and especially shying away from large projects as this)...not good. Throw in a few lawsuits that you know will inevitably arise and I think the whole financial underpinnings of this project are a bit shaky. It's definitely not the same playing field as it was even 6-8 months ago. Look at what is going on with Ratner and Atlantic Yards. Massive real estate projects are notorious for delays and never being fulfilled, even in the best of times. Still, I'm confident that this will get done but I wonder what impact the current financial mess will have on this project. It may be minimal (hopefully) but it won't be a positive. |
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Authority without wisdom is like a heavy axe without an edge: fitter to bruise than polish. Anger makes dull men witty, but it keeps them poor. In the beginning, the Universe was created. This made a lot of people very angry and has been widely regarded as a bad move. | |
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| dragoneye | Nov 16 2008, 11:19 AM Post #5 |
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Kung Fu Hockey
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With the real estate value going down wouldn't that make the project less expensive? |
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| smittyrules31 | Nov 16 2008, 11:46 AM Post #6 |
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Repeat a lie frequently enough....
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No. I don't believe so. It's not simply acquiring real estate (i.e., land). The real issue is can the project (i.e., building and all its associated costs) be adequately financed? Credit will be needed and that's where it becomes really sticky. Issues of obtaining credit and banks willing to finance a large project as this become relevant, especially in light of the foreclosures and plummeting value of real estate (I may be wrong, but as the value of land decreases, it actually makes the "real" dollar value of a real estate project increase, because you have less equity)...consider that people with exceptional credit are having hard times securing loans. If the value of ones debt exceeds the value of what is being financed (in this case, the Lighthouse Project), lenders are going to be very, very cautious. What if businesses cannot occupy the commercial space? What if there is difficulty securing residential tenants? Given the crisis we are in, how could a bank/lender justify this amount of credit unless it was very securely financed. At some point, Wang will have to start repaying the costs of the project to whoever fronts him the intiial cash. If that money isn't there...well, not good news. |
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Authority without wisdom is like a heavy axe without an edge: fitter to bruise than polish. Anger makes dull men witty, but it keeps them poor. In the beginning, the Universe was created. This made a lot of people very angry and has been widely regarded as a bad move. | |
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| Snowy | Nov 16 2008, 01:09 PM Post #7 |
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The Dark Knight
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Nassau County needs to have a fire lit under their ass to get this thing done. That fire needs to come from Bettman, Wang, Reckler, and Suozzi. The only possible way would be to start talk of moving the team. |
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| Shooter | Nov 16 2008, 05:47 PM Post #8 |
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All Star
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This is exactly what Wang wants. I remember the years when George Steinbrenner cried about how no one wanted to go to the Bronx so he talked about New Jersey move. Of course, it had nothing to do with his idiotic signings that led to a decade of decay in the win column...lol...all billionaires eventually get their way. It's why they became billionaires. |
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| Bexlyspeed | Nov 16 2008, 06:09 PM Post #9 |
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bexlyspeed- 3rd round draft pick
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how much longer do you think Wang can afford to lose 20 mil a year? nobody in their right mind will buy the team and promise to keep them on the Island and bettman seems to be on board with relocating the franchise to a destination that he desires (seattle, Kansas City) people! if they do not a new building soon they will move, that is a reality. its not like they are a winning team, there is nothing keeping them here. if the nordiques can be moved while selling out every night so can the islanders, nobody gives a crap about history and tradition its all about the big fat dollar |
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| The Moose | Nov 16 2008, 06:17 PM Post #10 |
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i CAN has a goal!
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Bettman won't move the team. He killed that idea once. His mind has not changed. Wang WILL NOT move this team, either. |
![]() The Hardhat Line, doing work in an NHL arena near you. | |
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| 3POTI | Nov 16 2008, 06:34 PM Post #11 |
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Bring back...PRIDE OF THE ISLAND
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noone is safe. anyone can move. just ask gretzky. ryan smyth. nordiques. winnipeg jets, atlanta flames, etc. also, the yanks got a new stadium, mets got one, nets are moving, if they can have a new place, so can the Islanders. Or whatever name they would be called when they move. no more ranger islander rivalary...now its..devil ranger rivalry..ooh, how fun that will be. |
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Today Is A Great Day To Be An Islander Fan! Live For The Moment! | |
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| Islander4cups | Nov 16 2008, 06:43 PM Post #12 |
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In Garth I Trust
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Seattle is not an option for the NHL. The city just lost their nba team because the city voted down funding for a new arena. No way they move the Isles to another city with arena problems. |
I miss these and want more of them ![]()
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| 3POTI | Nov 16 2008, 06:50 PM Post #13 |
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Bring back...PRIDE OF THE ISLAND
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so thats what happen to the sonics...I was wondering who the heck the knicks were playing the other night. oklahoma city thunder? hmmm,oklahoma city Islanders?
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Today Is A Great Day To Be An Islander Fan! Live For The Moment! | |
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| Tavarizard | Nov 16 2008, 07:13 PM Post #14 |
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Born during the 1993 Stanley Cup. How heartbreaking is that?
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Oklahoma State Oklahomians?
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| LEDZEP | Nov 16 2008, 07:15 PM Post #15 |
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The Best That Ever Skated 80-81-82-83
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em...
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Sometimes I grow so tired, but I know I've got one thing I got to do... ![]() What puckhead says is Islander law Come in with the milk "A leader, once convinced a particular course of action is the right one, must have the determination to stick with it and be undaunted when the going gets rough." Ronald Reagan | |
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| Snowy | Nov 16 2008, 08:22 PM Post #16 |
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The Dark Knight
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The Islanders have more history than the Nordiques, Jets, and Flames combined. Would not even be close to the same thing. |
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| Westfall18 | Nov 17 2008, 02:11 AM Post #17 |
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We are the Loyal Fan Base.
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History matters not when the almighty dollar rules all. |
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The Keeper of All Things Westfall William H. McCue Sr. 1934-2015 Rest in Peace Poppa. | |
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| Craving_the_Cup_Since_1992 | Nov 17 2008, 10:04 AM Post #18 |
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All Star
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The Lighthouse project would be good for these economic times. It'll create jobs and help the companies that sell material. That is the kind of content that needs to be focused on by these idiots at newspapers and blogs. According to a prior Botta entry on this subject, Wang has never used the moving threat to get the politicians to move quicker. I don't think the Islanders will move, never mind the dreams of Newsday's sports writers. |
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| THEDRIVE4FIVE | Nov 17 2008, 11:09 AM Post #19 |
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The Kid
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I heard Vegas. |
![]() Go Grabs Go! | |
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| ronski631 | Nov 17 2008, 11:16 AM Post #20 |
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Stubborn Polish Maniac
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i heard nassau county
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so thats what happen to the sonics...I was wondering who the heck the knicks were playing the other night. oklahoma city thunder? hmmm,oklahoma city Islanders?





2:25 PM Jul 11