THE CROOK MCCARRON HID THE HUNDREDS OF MILLIONS HE GAVE TO ANTI UNION STEVEN ROSS AND RELATED INC FOR THE NYC HUDSON YARDS PROJECT DEEP IN THE CALIFORNIA SOUTHWEST PENSION FUNDS
THE SCUM BAG MCCARRON STABBED ALL THE OTHER TRADES IN THE BACK AS THE UBC AND THEIR RELATED PARTNERS AT HUDSON YARDS WENT OPEN SHOP AND SCREWED ALL OTHER UNIONS OUT OF THE PROJECT
ALL FOR WHAT!!!
Neiman Marcus bankruptcy could spell doom for Hudson Yards
Retailer’s collapse would open the door for other stores to renegotiate or exit leases
The anticipated bankruptcy of Neiman Marcus could throw Related and Oxford Properties’ Hudson Yards mall into peril.
The parent company of the department-store chain is reportedly
planning to file for bankruptcy protection within the week. The move
would put Related and Oxford Properties in the precarious position of
possibly having to renegotiate the retailer’s lease at the luxury Hudson Yards mall — and enter into conversations with other retailers whose lease agreements are tied to Neiman’s presence.
“Losing Neiman would be a major setback for the Hudson Yards
project,” Matthew Seigel of Lantern Real Estate told Business Insider.
“Right now, Neiman has the leverage and the landlords are in the less
enviable position.”
The retailer came into the project on extremely favorable terms:
According to the publication, Related and Oxford footed most of the bill
for building the store’s interior, and reached an agreement to take 5
percent of sales instead of rent in the initial three years, and 8
percent in the following two years. The parties were reportedly planning
to enter into a traditional rent arrangement starting in the sixth year
of the lease.
The brand was considered such a significant selling point that
several other stores in the mall reached agreements in their leases that
allowed for rent discounts or lease exits if Neiman were to go and an
equal replacement was not found — meaning the stakes are even higher in
the current climate.
Neiman’s stores are closed at the moment because of the pandemic. The
company is hoping to restructure its $4.7 billion debt load and reopen
most of its stores after the crisis subsides.
Many retailers were struggling
long before the global health crisis, thanks to pressure from
e-commerce and changing consumer habits. Department stores have not been
immune: Barneys filed for bankruptcy last year. In February, Macy’s
announced it would close 125 stores over the next three years.
10 comments:
This investment should not have happened. But it did because the trustees representing Labor are Doug’s employees, the trustees representing business, ie the contractor supported it because they get what they want from Doug in exchange for their support. What do the members get who are funding the pension by working with their tools?? A letter that says something to the effect of “Dear X Fund Participant due to the declining value of the pension fund assets we the fund managers have decided that it is in the best interest of the fund to reduce your pension fund payment. Have a nice day.....”.
One of the sadest parts of this whole investment is that there was still no guarantee that the job would be 100% full rate and Union only. After all this, Hudson Yards can, at their discretion, use non-Union employers who can employ non-union members to do covered work!!!????? In what world is that a good return on our investment???
Just another example of Doug McCarron’s malpractice.
Why did the Southwest Carpenters pension plan from the West Coast finance this project? it doesn't make sense, they did it because it's dirty Doug's personal pension fund so he can be a big shot throwing those billions of dollars all over the country and get in bed with people like Stephen Ross, The management trustees are sellouts to their own industry and are whores for dirty Doug. Walmart will probably occupy Nieman Marcus's lease agreement. Too bad for the Southwest Carpenters pension plan they will probably lose hundreds of millions of dollars! DOL ARE YOU LOOKINS AT THIS
A continued pattern of behavior exercised outside the realm of anything remotely close to being a union in which members exercise freely and openly ... Some control of their destiny and investment.
Pull the tax exempt status.
Remove the " not for profit" status.
We ARE THE VERY CORPORATE GREEDY WHORES we pickett.
Not the rank and file. We just continue to feed the machine without a voice. A true vote. Or any say.
Yet the federal agencies who are bought and paid for turn a blind eye because their causes profit.
Did Robert Laufenberg Resigned as the International Representative and assistant to Frank Spencer? This was a dream job, his two major assignments was promoting Jobsite Steel and supposedly taking potential clients out to dinner as per the Second Vice President. Insider reports he left abruptly over a disagreement. Was Robert tired of being the conduit of information from Frank to George Laufenberg the indicted former administrator? Frank it may be hard to keep the Laufenbergs in line now.
Interesting development. We shall see how things turn out once Georgie Boy signs the deal of of his life. But keep in mind it may take awhile. Unfortunately the wheels of justice turn slowly but turn they do.
Hey. Ray heineyman Hang in there maybe you will have better luck on the class action coming your way. Because you really got beat up at the nlrb. Lolololol
The beating isnt done.
2 more.
On the surface they are " innocuous"
But. If one were to dig a wee bit deeper.
Its there in plain site.
The nrcc / DISSOLUTION violated federal labor standards.
Violated ubc constitution on at least 23 counts.
And stilllll until audited federally ... Are exacting dues from former mrc illegaly and without authorization.
Did you ever sign a " contract" in your life that never had an end date or a renegotiation of terms after a specific time frame or change in status?
If you did. You are an indentured servant.
Thats a hint.
And the pattern of criminal behavior , allllll within the definition of RICO , continues.
There is no law. There is no justice.
They better keep hoping we stay " law abiding"
Hey big balls ray. Don’t deny. Everything and rush and settle. Right before deadline. Let’s get this to the judge big balls
Hey sprolles how is your mupp program doing you fat pos !
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