Comment 55264

By arms-length (anonymous) | Posted January 09, 2011 at 08:06:37


@mrjanitor
"Here's more to consider on Bob Young's financial situation. I don't think it's just a game or negotiating tactic, I think Bob has maxed out his credit lines. Here's another thing, money attracts money, and I haven't seen anyone line up to invest in Bob's World in Hamilton. Paletta is leveraging the Cats to get his lots serviced in Aldershot on someone else's dime, not because he thinks the Cats will help him get rich. It's a win-win for Paletta and Young, but I wonder what Bob is giving up in return."

Paletta is looking for anybody to come and build something that will attract visitors to his patch of land, so that he can build up ancillary services around it and make money off those things. He apparently offered land to McMaster to host its Burlington campus - the one that was intended for downtown Burlington, but ended up on the S. Service Rd. near Appleby Line. So let's not buy any suggestions that he is doing something magnaminous for the 'community'.

Note that I said "build something that will attract visitors to his patch of land" - same strategy applies to Rheem - build even a small stadium and local businesses will benefit, new ones will pop up, etc.




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