Ratner's New President Worries About Credit Market Effect on Yards
by Net Income on Oct 23, 2007 6:22 PM EDT
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Joanne Minieri, the new president of Forest City Ratner, admits being worried about the effects of high interest rates on the Nets' new home, Brooklyn's Atlantic Yards. In an interview with the Wall Street Journal, Minieri says financing the $4 billion project "can keep me up at night" adding that "value creation" can be hurt "when you have to pay more for financing". Still, "We are proceeding according to plan", says Minieri.
- Forest City's Minieri Gets Tested in New York - Alex Fragos - Wall Street Journal
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maybe the nets should just move to newark and ratner should cut his losses. the project is obviously costing far more than he originally projected. prudential center is a fabulous new arena, and the nets could move in as soon as they can get out of their izod center lease. this will also prevent the loss of most of his new jersey fan base when the team moves to brooklyn. the Rock and Newark would open the nets with open arms.
by nets fan on Oct 24, 2007 8:06 AM EDT reply actions
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