Observer Exclusive: Murdock to seek $...

Observer Exclusive: Murdock to seek $160 million in bonds

There are 5 comments on the The Charlotte Observer story from Jan 11, 2007, titled Observer Exclusive: Murdock to seek $160 million in bonds. In it, The Charlotte Observer reports that:

Developers of the North Carolina Research Campus plan to ask for $160 million in bonds instead of the $76 million announced by Kannapolis in November.

Join the discussion below, or Read more at The Charlotte Observer.


Concord, NC

#1 Jan 12, 2007
Wow! No wonder he wanted one-on-oe meetings. Let's keep this under our hats.

Concord, NC

#2 Jan 12, 2007
Of course he doesn't want anything to be a secret.Cough,Cough,snort. He just wants the taxpayers to cover his investment. If he asks for $160 million, he probably really wants $120 million. Murdock, Saffrit & Co. need this deal to maximize their property values in the area. Don't you people see. They need to make money. What could possibly be wrong with that? And the fair citizens get j o b s. If you guys can just sit tight, there is something in this for everyone.
Biotech Hype

Durham, NC

#3 Jan 12, 2007
This thing is a fraud and the people in Kannapolis are suckers. "Sure Mr. Murdock, we'll give you anything you want so we get biotech (whatever in Heaven's Betsy that is)". Maybe Intelligent Design will be a focal point of this research campus.

Charlotte, NC

#4 Jan 23, 2007
Once again Murdock and his team of bullies are poised to stick it to the taxpayers. Note that the bonds are to be paid for by an "incremental tax district"..meaning if you are in it prepare for a whopping tax bill. Interesting to note that Murdock owns a lot of the property in that district. When the tax value jumps so does the value of his investment. Murdock always has a hidden agenda when it comes to business. Basically he will pay nothing and we will pay everything for what will be HIS investment - we won't own any part of it..we just get to look at the big buildings and pay for it all. Also notice how by tying all of this up with the University system they are avoiding paying property tax on most of the buildings (non-profit status)- gee thanks Murdock - we'll glady pay that too! Looks like you have it figured out from every angle!
The "leaders" here are either completely corrupt or just plain stupid...probably both

Concord, NC

#5 Jan 24, 2007
Absolutely right Jim! Another cleverly disguised plan to dupe the citizens of Kannapolis/Cabarrus Co. out of some more money. Pretty sharp aren't they! Just browbeat the elected officials and tell everyone what a great opportunity it is. Then threaten to pull the financing to move the process along. Of course, Murdock & Co.'s vast property holdings in this area from the last go round are substantial and will no doubt appreciate handsomely. Just sit back and watch our wonderful system of manipulation and wealth transfer at work! How 'bout a few more private meetings? Or a retreat? Transparency just mucks up the process.

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