  Urbanoutdoors Member Username: Urbanoutdoors Post Number: 824 Registered: 11-2005 |
http://www.crainsdetroit.com/a pps/pbcs.dll/article?AID=/2008 0508/REG/617740397/1069/gm-buy s-its-detroit-headquarters-for -626-million | ||
Johnlodge Member Username: Johnlodge Post Number: 6561 Registered: 10-2003 |
I always thought they already owned it, considering they spent almost as much renovating it as they just paid for it. Interesting. | ||
Wilus1mj Member Username: Wilus1mj Post Number: 269 Registered: 05-2005 |
Nice price...market conditions finally made in cheaper to buy than lease. I bet Ford paid more to have the thing built in the first place. | ||
Gravitymachine Member Username: Gravitymachine Post Number: 2074 Registered: 05-2005 |
were they not a true city resident beforehand? just checking | ||
Viziondetroit Member Username: Viziondetroit Post Number: 1685 Registered: 11-2003 |
I think they said Ford built it for 350mil. | ||
Johnlodge Member Username: Johnlodge Post Number: 6567 Registered: 10-2003 |
It at least said Ford spearheaded the $350 million project. So with inflation, has the RenCen lost or gained value? | ||
Burnsie Member Username: Burnsie Post Number: 1384 Registered: 11-2003 |
This was a surprise to me, since I had remembered the media reports in 1996 indicating that GM *bought* the RenCen at that time, for something around $75 million. Obviously the articles weren't as clear as they should have been. | ||
Jasoncw Member Username: Jasoncw Post Number: 500 Registered: 07-2005 |
Yeah, I always thought it was bought too. That's the impression that all of the wording has ever given me. Anyway, I guess that it's a good thing that it's now bought? | ||
Gannon Member Username: Gannon Post Number: 12755 Registered: 12-2003 |
Yeah, they're putting new colors on it today...what is the new ad for?! | ||
Gistok Member Username: Gistok Post Number: 6793 Registered: 08-2004 |
Yes our less than stellar media reporting DID say that a company called Highgate bought the RenCen back in 1996 for $75 million and then sold it to GM (so as not to let Ford know that GM was going to be the end buyer). But all the media said that GM bought it in 1996. | ||
Downtownguy Member Username: Downtownguy Post Number: 136 Registered: 07-2004 |
^^Perhaps that's why Crain's broke the story and our two dailies aren't saying much today. I could find no mention of it in the News and only an AP story in the Freep. | ||
Wash_man Member Username: Wash_man Post Number: 759 Registered: 05-2006 |
Interesting stats on Wiki: http://en.wikipedia.org/wiki/R enaissance_Center (Also says GM bought it in 1996) | ||
Charlottepaul Member Username: Charlottepaul Post Number: 2486 Registered: 10-2006 |
I think that it was owned by Hines Management. Most businesses aren't in the business of managing buildings, esp. one as complicated and large as the Ren Cen. | ||
Charlottepaul Member Username: Charlottepaul Post Number: 2487 Registered: 10-2006 |
E.G., the Wayne County offices in the old county building downtown, which the county doesn't own. | ||
Spiritofdetroit Member Username: Spiritofdetroit Post Number: 933 Registered: 11-2006 |
Yes, but it has always been reported that GM owned the building. On the RenCen tours that are given daily, the guide even states "the entire complex, including the hotel and the Millender Center across the street are owned by GM" | ||
Curly98 Member Username: Curly98 Post Number: 19 Registered: 06-2007 |
Hey, to make even more confusing, look around and see the Riverfront Holdings play in all of this, maybe then we'll all see what really went on in 1996. And interesting as well, Matt Cullen leaves GM just over a week ago, something bigger going on here. | ||
Buyamerican Member Username: Buyamerican Post Number: 582 Registered: 02-2007 |
Chrysler...huge plant on East Jefferson in Detroit...investing money into the Detroit Zoo to renovate...GM purchasing the RenCen. Two of the Big 3 investing in Detroit and its' future. Where is Toyota, where is Honda? WHAT YOU DRIVE, DRIVES AMERICA! | ||
Lmcdet Member Username: Lmcdet Post Number: 48 Registered: 06-2007 |
Hines Management handles the retail management of the building. Before Hines, I think the Taubman group handled it. | ||
Sharmaal Member Username: Sharmaal Post Number: 1307 Registered: 09-2004 |
Honda... http://corporate.honda.com/ame rica/events.aspx?id=dso Toyota... http://www.primenewswire.com/n ewsroom/news.html?d=130802 Moron. | ||
Gistok Member Username: Gistok Post Number: 6796 Registered: 08-2004 |
Charlottepaul, we've always been told that GM owns the RenCen and that the County leases the Old County Building. The fiasco over the scaffolding on the Old County Building tower for over a year brought the exorbitant rates involved in that lease agreement to light a few years back. | ||
Buyamerican Member Username: Buyamerican Post Number: 583 Registered: 02-2007 |
Sharmaal, www.levelfieldinstitute.org and do some reading if you care about the U.S. You're the "moron" if you don't believe in WHAT YOU DRIVE, DRIVES AMERICA! OUT OF A JOB YET, KEEP BUYING FOREIGN. | ||
Jt1 Member Username: Jt1 Post Number: 11658 Registered: 10-2003 |
Instead of blaming others and complaining about your situation you should take responsibility for yourself. | ||
Johnlodge Member Username: Johnlodge Post Number: 6583 Registered: 10-2003 |
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Buyamerican Member Username: Buyamerican Post Number: 584 Registered: 02-2007 |
Jt1...who are you addressing your post to? | ||
Jt1 Member Username: Jt1 Post Number: 11660 Registered: 10-2003 |
I was addressing it to you. Since it is a common refrain of yours I expect there to be less complaining and more doing something about your situation. What's good for the goose.... | ||
Lo_to_d Member Username: Lo_to_d Post Number: 76 Registered: 07-2007 |
johnlodge, where did you find that graphic and what's the source. I completely agree and I want to use it to show other ignorant a-holes. Just because they may assemble some of their cars here, it does not negate the fact that all the parts are built elsewhere. And, (this is the biggest problem) we do not have free auto trade with Japan and S. Korea who sell approx. 500-1000 cars here per 1 we sell there. I actually have much less of a problem seeing someone driving a VW or BMW than a Toyota, Honda, Hyndia, or Kia. | ||
Johnlodge Member Username: Johnlodge Post Number: 6585 Registered: 10-2003 |
From Buyamericans link: www.levelfieldinstitute.org | ||
Johnlodge Member Username: Johnlodge Post Number: 6586 Registered: 10-2003 |
 | ||
Ladyinabag Member Username: Ladyinabag Post Number: 590 Registered: 03-2007 |
It was just in the paper last week about how much money that they lost this quarter and then they turn around and buy the Ren-Cen? I believe that there is something amiss in Utah....dig? Someone is either full of bologna, or the communication is erroneous. | ||
Buyamerican Member Username: Buyamerican Post Number: 585 Registered: 02-2007 |
Jt1, I am still not quite sure what the hell you're talking about. I am an American and proud of it and practice what I preach whenever and whereever I can. I wouldn't have a foreign car in my garage. If you live in Detroit, or in Michigan for that matter, then your priority should be buying one of the Big 3, not foreign when you must purchase an automobile. What's your excuse? JohnLodge...thank you for posting those charts. (Message edited by Buyamerican on May 09, 2008) |
