CHINESE OWNED KANSAS CITY-BASED AMC ASKS FOR A BREAK FROM LENDERS!!! BRING ON THE NEXT KANSAS CITY ECO-DEVO FAIL!
Despite the fact that the U.S. economy is in a tailspin and things ARE NOT getting better in Kansas City . . . AMC wants a helping hand for their big Chinese fire sale and abandonment of the P&L District . . .
AMC Entertainment seeks lender leniency as sale triggers repayment of $1.5B
A Kansas City political insider says, "This is yet another example of all the TIF for the P&L District turning out to be one of the worst decisions KC has ever made . . ."
AMC was touted as a P&L District centerpiece but all of the debt that KC is currently saddled with didn't even keep the movie corp. in KC Proper . . . And the best efforts of Kansas City politicos certainly didn't hold AMC to their talk of staying in the money losing P&L District.
Once again, Kansas City politicos prove incompetent and out of their league when it comes to complex eco-devo deals . . . And now this same elite class of Kansas City politicos offer new plans to revive Downtown by way of a Toy Train and 1,000 room Hotel . . . Meanwhile, lenders and Kansas City Taxpayers are stuck with a huge bill and lack of confidence for our entertainment complex thanks to a Chinese buyout.
DEVELOPING . . .
Posts
11 Comments:
Your red carpet reference makes me giggle.
It USED to be if you borrowed a dollar, you paid back a dollar. What ever happened to that idea?
The photo is pretty hilarious! But come on, these are Chinese folks... aren't they smarter than Americans according to statistics in MATH? Did they not realize that there'd be a payment of 1.5Billion Dollars due on sale? I find that really hard to believe. Anything is possible...
Tony, if you had any financial sense you would realize that this is a non-story. The holders of the AMC notes will happily comply with this request because the notes carry a very attractive yield in today's very low interest rate environment. If they forced repayment now, the note holders would find it difficult to find an investment that paid what they are currently receiving.
Soon we will all goose step to the "Sound of Music".
They should pay the price....not expect it to be written off by US economy. Good for them for TRYING tho, but the answer needs to be NO!
just more money down the drain for KC.
Wasn't Bain Capital mentioned in a star article recently as being involved with AMC? Was Bain involvment a recent relationship or in the past?
Wonder what kind of accounting tricks they will use to shave off some of that %1.5 billion into insider pockets if their wish is granted.
does this mean Kc will get better Chinese food?
Damn! Didn't take the Chinese long to apply for foreign aid.
Post a Comment