BIG Meeting at Meruelo Maddux Tomorrow: Let the RECEIVERSHIP begin!!!

[Pictured: Downtown headquarters of Meruelo Maddux. Richard Meuruelo was Villaraigosa’s top campaign contributor in 2005 election. Now his company is bankrupt in what will likely become a highly investigated SEC scandal.]

UPDATE: To Mr. “EastCoastInvestor@yahoo.com” — KISS MY ASS, BITCH! “Highly unlikely” doesn’t cut it with me, Smart Guy. And I am CERTAINLY not the problem. The pension managers and the person who “lie, cheated and stole” M.M. into bankruptcy is the problem, crybaby. And next time, use you REAL email address. 😉

Meruelo Maddux is having a big meeting tomorrow (Friday). Downtown’s big real estate operator, owned by Richard Meruelo, the TOP CAMPAIGN CONTRIBUTOR TO LOS ANGELES MAYOR ANTONIO VILLARAIGOSA (when he was first elected mayor in 2005) has already declared bankruptcy and announced it’s creditors would not be getting paid. (Darn!)

So tomorrow’s big meeting should be about “receivership” and how to cover asses.

This is another shoe for Antonio Villaraigosa to be worrying about. HIS TOP CAMPAIGN CONTRIBUTOR (ONE OF THE BIGGEST DOWNTOWN DEVELOPERS AND REAL ESTATE OWNERS) goes completely, 100% bankrupt — leaving investors with pennies on the dollar at the end of it all?

Well if Meruelo Maddux was his BIGGEST campaign contributor, I’m sure it wasn’t completely philanthropic. I WONDER IF VILLARAIGOSA’S GENIUS PENSION INVESTORS (OR BOND INVESTORS) HAD MONEY INVESTED IN M. MADDUX?

Wonder how much CRA money was pushed into these bankrupt projects?

Seriously, I have been told that there may have been a HUGE fallout between Villaraigosa and M. Maddux, so maybe it was because Villar was NOT investing in the company’s projects and maybe THAT’S why it went under.

But I think this quote has a lot to do with the problem: “You can only lie, cheat and steal for so long.”

I wonder how much money (property taxes and revenue generated by the commercial retail properties) will no longer be coming into the city as expected?

I AM HERE TO TELL YOU, the downfall of Meruelo Maddux is SHADY and FRAUDULENT as HELL, y’all…Bernie Madoff style, on the realest, dough! And although the owner of M.M. was Antonio’s biggest single campaign contributor when he was elected mayor , is no reason any of the corruption and almost CERTAIN FEDERAL INVESTIGATION (SEC?) will tie back to Villaraigosa and his pals.

But it wouldn’t surprise me if it were discovered that Villaraigosa’s investment wizards (the ones currently being investigated and resigning), the ones who lost $7 Billion in pension money last year; the ones holding campaign fundraisers for Jack Weiss (until they were caught) were messing with this stuff, too.

BUT, I am told that this is not the case. I am told that pension and bond money WAS NOT invested into M. Maddux. AGAIN, maybe that is what the Meruelo/Villaraiogsa fallout was over. And again, maybe that is why the real estate moguls entire scheme went under. Either way:

IT’S OVER! THE MONEY IS GONE!

JAN PERRY!!! What do YOU know about this? It IS your district!

BREAKING NEWS: Pension Adviser Charged as Cuomo Inquiry Grows

via NYT > Business by By DANNY HAKIM on 4/30/09

The inquiry into corruption at the New York State pension fund widened on Thursday when a top consultant was charged with a fraud-related felony by State Attorney General Andrew M. Cuomo.






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2 thoughts on “BIG Meeting at Meruelo Maddux Tomorrow: Let the RECEIVERSHIP begin!!!

  1. AND NOW, look how people like to talk big and run their mouth behind anonymous emails, WHEN THEY DID NOT EVEN TAKE TIME TO READ, OR AT LEAST COMPREHEND WHAT I SAID:You clearly have no idea what your talking about, how apublic company works, or how bankruptcy works. [ZD: I don’t have to, all I have to know is that they are a public company and they went bankrupt. I know what THAT means.]Do youself a favor and shut up. You sound like an idiot toanyone who actually knows how this works. [Oh, well let mesit back and listen to the respected douchebag who is going toTELL me how it works, because THEY are so smart.]Richard Meruelo was the contributor, not Meruelo Maddux.It was a public company. Pension advisors are independentof Mayors they manage the money for the pension. [Zzzzzzzz.]It is HIGHLY unlikely that one of the pension advisors wouldhave invested in MMPI, because it was considered a speculativeinvestment from the outset. Maybe not even an investment, buta gamble and professional investors knew this from the start -it was pure land speculation. [ZD: Wow, you’re really smart,although you add nothing, but thanks for confirming.]Do some research. MMPI didnt have any public bonds, just bankdebt, so clearly the pension fund didnt invest in the bonds. People like you running your mouths without doing any researchare part of the problem.[No low reading comprehension loser, I am not AT ALL partof the problem. Not in any way, shape or form. The onlypart of the problem is the person who lied, cheated andstole the company into bankruptcy and the person whodefends it with faulty logic, because they did not comprehendthe initial post. (PATTERNS!)AND, I even include THIS in the post: “Seriously, I have been told that there may have been a HUGE fallout between Villaraigosa and M. Maddux, so maybe it was because Villar was NOT investing in the company’s projects and maybe THAT’S why it went under.”

  2. me and 2 former mmpi employees were forced out of uniom lofts, mmpi stole my tolls, artwork and the future tile company i was developing, i had to get the head u.s trustee to open a d.oj. investigation, they have all these listed properties in their bk with no money in the accounts , but 9 are cash only parking lots, by the way the canyon group took possesion of 717 ninth they gave all the deposits back and got thier sorry asses kick out, so much for richards penthouse, as a former I.B.E.W member i feel disgusted having worked for thes, slave labour profiters, extorting l.a. scholl district on a typo for 11 million and dumping toxic waste , how the hell do they get their b.e.i.t. status 90% tax free profit, and did i mention they forgot to list union lofts in their bk and had scumbag employees cashing rent checks, email me ive been thru hell

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