Friday, August 11, 2006

Now I Know Why Jim Fetzer Is Not a Business Professor

This is rather boring by Uncle Fetzer standards, but I was still struck by the stupidity of it. This is from a radio interview of Steven Jones by Fetzer, although in this case he is answering a question from a caller.
Fetzer: This is wonderful Tom, I am very glad you called. Let me ask you a question or two.

Tom: OK.

Fetzer: My impression has been that there were a couple of problems with the towers and it may have been that they were chronic problems. One of course was that it was laden with asbestos and that any proposal to remove that asbestos which was used as a coating on the steel as I understand it would have been a gargantuan task at incredible expense. Can anyone imagine for example of constructing scaffolding around a 110 story building? And second of all that there were difficulties with occupancy that Larry Silverstein wasn’t getting a full return on his investment from the ordinary use of the buildings, because a tremendous large numbers of offices were unoccupied. Whole floors and sections of the buildings.
OK, let’s not forget that Silverstein only started leasing the towers a mere 6 weeks before 9/11. Given the tremendous amount of work it would have required to prepare this plot and wire the buildings for explosives, that would mean that he would have had to decide that his investment was unprofitable, and that a better solution would be to blow up the buildings and kill thousands of people, oh, about 15 minutes after he signed the contract!



At 11 August, 2006 22:08, Blogger shawn said...

And if we wanna be totally realistic about it, he'd have to rig the buildings several years before he started leasing them - somehow having psychic abilities well beyond any we mere mortals know of.

At 12 August, 2006 00:10, Blogger nes718 said...

Silverstein didn't have to do anything M. Bush didn't already take care of when he was in charge of Securacom. Simple. Silverstein being a Zionist big wig knew the deal going in. He is/was the owner of building 7 and probably helped M. Bush and his associates in the preparation of the twins.

Silverstein being the snake that he is knew his position was best so he made the deal with the help of other Zionist big wigs whom are connected to the Bush/Neocon cabal.

At 12 August, 2006 07:00, Blogger Unknown said...

My first thought exactly Dog. Scaffolding on the outside????

At 12 August, 2006 07:43, Blogger Pat said...

Actually the asbestos in this type of a property is not a big deal, and is quite common. The only concern would be if the asbestos became friable (crumbling), in which case it would most likely be encapsulated. I have seen many large ($100 million and more) loans where the property had asbestos-containing materials, and the only requirement lenders made was that the borrower agree to an Operations and Maintenance Agreement basically stating that they won'd disturb the asbestos.

Fetzer has a layman's understanding of commercial real estate transactions. The notion that a sophisticated real estate investor like Silverstein would close on a property, underinsure it, and then destroy it is moronic.

At 12 August, 2006 07:50, Blogger Manny said...

The buildings were essentially fully leased when Silverstein Properties and its partners net-leased them. Indeed, if tenants wanted to get out of their leases (as some did -- I won't say exactly who, but some tenants wanted to consolidate space) it would have been a good thing for Silverstein because he would have been able to re-let the space at higher prices. Indeed, unexpected occupancies would have been one of the upsides of the deal, not one of its downsides. If real estate conditions were bad (as they had been years earlier and of course became after, well, 9-11) then Silverstein and any competitors simply would have priced the alleged occupancies into their price when they bid. So Fetzer was just making that up from whole cloth.

Any asbestos problems (and there was asbestos on the lower levels of each tower -- that part which was constructed before New York banned the stuff) would also have been priced into the bid. It's not like Silverstein and his consortium net-leased the placed and discovered, "ohmygosh, there's asbestos here!" At any rate, here in the city asbestos removal is pretty much down to a science. There are several firms which can do it quick and cheap-like.

At 12 August, 2006 10:23, Blogger Avery Dylan said...

Like hey, man I mean, Silverstein took the money from the insurance and like built another building, so like, shouldn't we check to see if he rigged the new # 7 to blow up?

I bet he took all the let over money and spent it.

Ha - like I mean he missed out on all that gold in the basement of 1 & 2 - I mean, like finders keepers right?

At 12 August, 2006 11:56, Blogger The Artistic Macrophage said...

Once apon a time, in the land of CTerville, there was an evil race known as Da Joos. Now Da Joos did nothing wrong, more than anyone else persay, but they wanted a land to call there own. Now this angered alot people from all over the world, but none more so than those who lived in CTerville. You see, they felt that Da Joos were responsible for all the evils of the world, and therefore didn't deserve a place to call home...

I would go on, but I wanna read other threads...

At 12 August, 2006 14:05, Blogger nes718 said...

Nes, Marvin Bush was not in charge of security at the WTC, period.

Um.. If you've ever worked in a corporation, you know the guy at the top calls the shots, hires or fires people he wants to effect his "strategy." That wasn't too hard now was it?

At 12 August, 2006 14:08, Blogger nes718 said...

Like hey, man I mean, Silverstein took the money from the insurance and like built another building, so like, shouldn't we check to see if he rigged the new # 7 to blow up?

Like man, Silverstein is going to make out like an ever fatter rat when the "Freedom" tower gets built cause the rent is will probably go triple what was being paid in the original WTC.

At 12 August, 2006 14:46, Blogger shawn said...

Like man, Silverstein is going to make out like an ever fatter rat when the "Freedom" tower gets built cause the rent is will probably go triple what was being paid in the original WTC.

Financially, it would've made more sense to just rebuild the towers. He'd have more offices.

At 12 August, 2006 15:15, Blogger Manny said...

What freedom tower?
*looks at Ground Zero*
Nope, nothing there.

Moreover, Silverstein and his consortium gave up control of the Freedom tower as part of his settlement with the city.

Moreover moreover, it turns out that the appetite among the city's businesses to put themselves on top of the biggest, newest, shiniest terrorism target ever is looking pretty low. It's most likely that the Port Authority will lease the upper floors to itself and to other government agencies. The Freedom Tower, I'm afraid, is destined to become the tallest precinct house in history.

None of that will prevent nessie from continuing to make up facts to serve his terrorist compadres.

At 12 August, 2006 20:45, Blogger shawn said...

Are you an aetheist?

The word is "atheist".

At 12 August, 2006 22:15, Blogger shawn said...

The Shadow knows.

At 12 August, 2006 23:38, Blogger The Artistic Macrophage said...

Oh and I am not an Atheist Tempestuous. I am born Christian, but think of myself as "unsure" about any of the traditional religions. If I had to chose what best fit my way of life It would be between Christian and Judaism.

And, no, I am not Debunking911, just thought I would reply to your earlier name calling here in this thread.

At 13 August, 2006 20:47, Blogger shawn said...

Is he/it an atheist?

You still haven't explained how this matters.

At 14 August, 2006 19:04, Blogger shawn said...

this depunking clown can not be named, referenced, appropriately sited. Who the fuck is he?

Why does he have to name himself? Killtown has never named himself.


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