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Sep 14, 2009

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Minturn, CO

Frozen pipeline near Minturn raises concerns

"There's a Frankie with matches that's loose on the town. Take a whole pail of Eagle Mine water just to cool him down" No negative Ginn comments from Frank Lorenti? What is this world coming to?  (Jan 11, 2010 | post #1)

Orlando, FL

Ginn fights lawsuit, other woes

"Well my mama told me, my papa told me too. Now my mama told me, papa told me too. Well I shouldn't be here tryin' to sing these Minturn blues." Frankie - Be a little honest with these folks. First, the $11.6 million already in escrow isn't hard until final annexation occurs, which hasn't happened thanks to a legal challenge by a guy named Tucker, not Ginn or Adler. The Town can't legally claim that money until the annexation is final and unappealable. Second, let everyone judge if this "promised " money would provide jobs to locals and help our small town improve our old, failing infrustructure: $3 million towards the Bolt's Lake Rehabilitation (not enough money and no water to put in it yet) $2 million for a bike trail $350,000 for scholarships $6 million for a recreation and community center (that the town admits it has insufficient tax revenue to maintain) $250,000 for Little Beach Park Finally, why shouldn't the citizens of Minturn be paying for the infrastructure they alone are using now? "Adler's project" is using absolutely no city services right now, and is in fact paying for the Town's legal costs associated with securing water and all costs associated with the project's approvals. The future money was to pay for enhancement of facilities, improvements to infrastructure for the benefit of the town and the project as envisoned by Ginn, wildlife mitigation, environmental remediation and employee housing. Those estimated costs could be secured by performance bond. A portion of the future money was contingency in excess of projected costs. Additionally, most of that money wouldn't have been spent until work was being done. Finally - BOBBY'S ORIGINAL VISION AIN'T GONNA SEE THE LIGHT OF DAY! The dude from Canada already told that to you. You really need to cool your jets. Your part of the world is vastly different than it was a few years ago, and nobody knows what the future will hold. If you want to see improvements to your little piece of heaven on earth, you need to find a way to facilitate it. Neither Dean Adler nor any future developer is going to write you a blank check in this environment. Deals are being re-cut everywhere based on the realities of the current world (see the Atlantic Yards project in Brooklyn for an example  (Dec 23, 2009 | post #708)

Orlando, FL

Ginn fights lawsuit, other woes

"Well now Bobby used to stay all night long, made me cry, Lord he done Minturn wrong. Hurt my eyes open, and that's no lie, tables turnin', now it's his turn to cry. Cuz I used to love him, but it's all over now." Frankie - You make an awful lot of noise, and your town stands to benefit if something can get built. The economy has changed an awful lot since Bobby promised everything to Minturn in exchange for the right to build his resort. Try working with the guy from Canada and see what happens. If it all works out, you'll still get significantly improved infrastructure, a larger tax base, better community amenites, etc.  (Dec 17, 2009 | post #700)

Orlando, FL

Ginn fights lawsuit, other woes

"Comes a time when the blind man takes your hand says: don't you see?" Madoff took money from one investor and gave it to another, and continued to do that with each successive investor. How Did Dean Adler do that, precisely, in the case of Ginn sales? It's easy to throw around terms like Ponzi schemes, but a crashing real estate market does not make this a Ponzi scheme in the least. I'd also like to understand what "profits from the frauds" you are talking about. It's great to throw out statements like that without facts  (Oct 29, 2009 | post #679)

Orlando, FL

Ginn fights lawsuit, other woes

"Loose with the truth, baby, its your fire, but baby I hope you dont get burned." Nobody was scammed in the CS financing. The lenders/investors had ample opportunity to review and object to the confidential investment memorandum. Quail West and Tesoro have substantial amenities. There is tremendous investment in the Laurelmor and Bahamas properties, which were early stage developments. Additionally, the sponsors have reinvested significant dollars into the Bahamas. Yesllowstone Club had nothing to do with Ginn  (Oct 5, 2009 | post #668)

Orlando, FL

Ginn fights lawsuit, other woes

"Well, I ain't always right but I've never been wrong. Seldom turns out the way it does in a song. Once in a while you get shown the light. In the strangest of places if you look at it right." I really enjoy reading the misinformation you all post. You use such strong language and show no evidence for your claims. While I understand many people feelings regarding the community vision you bought into vs. what exists today, you must also understand that much of what was planned was predicated on i) closing contracts that buyers agreed to, ii) making additional sales in the future, and iii) having buyers pay their POA and club dues to support operations. No investment group in its right mind would build all infrastructure and complete and open all amenities before sufficient sales occur to support everything. When buyers didn't close and future sales didn't occur, there was little revenue to offset expenses of amenities and infrastructure. When buyers didn't pay their POA and club dues, there were deficits at both that were subsidized by the developer, resulting in fewer funds for infrastructure and amenities. Ginn's communities are not devoid of amenities and infrastructure. None of you detractors have any clue how much was - and still is - invested in these communities. That's not how Ponzi schemes work. "I see you've got your list out, say your piece and kiss off. Guess I get the gist of it, but it's alright. Oh well anyway, sorry that you feel that way. Every silver lining's got a touch of grey  (Sep 18, 2009 | post #652)

Orlando, FL

Ginn fights lawsuit, other woes

First, the words from Jerry, "You thought you was the cool fool and never could do no wrong. Had everything sewed up tight. How come you lay awake all night long?" Ginn is out, Reynolds is in, at Laurelmor. Ginn is out, Crave is in, in Colorado. Why is that bad? Are all of you who bought from Bobby guilty by association as well? "It's dizzying, the possibilities. Ashes, Ashes all fall down  (Sep 16, 2009 | post #648)

Orlando, FL

Ginn fights lawsuit, other woes

Folks as Jerry used to sing - "The grass ain't greener, the wine ain't sweeter, either side of that hill." You lost your speculative bets. Old E.R. Ginn has lost his blimp, racing team, his people, his resorts and now Ginnturn. He has lost his investors $100's of millions because of this economic tsunami. He barely has 2 nickels to rub together. Ashes, Ashes all fall down! Your typical city lost in a typical daydream, hang it up and see what tomorrow brings! The words of the Dead will set you free.  (Sep 14, 2009 | post #641)

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