Tuesday, February 17, 2009

Vulture Era

Bowl & Board was in a desperate situation. They made that much clear to landlord. But instead of taking the money and wishing Bowl & Board the best of luck in these tough times, the Capital Properties’ pack of lawyers decided to keep the store locked into the contract. They figured their boss would make more money if they pushed Bowl & Board into bankruptcy. That way, not only would back rent be recovered, but they’d also be able to liquidate the store’s inventory and cover most of the balance on the remaining lease...

...“What can I do? I’m in the same situation. Everyone is in the same situation. There’s going to be more of this,” said one shopper defensively. Her house had been foreclosed and now she was out and about shopping to decorate her new apartment. Her logic was brutally simple: I was screwed by my bank and need money. So I’m gonna do what I have to do any way I can, even if it means screwing someone who is as badly off as I am...
Here.

No comments: