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April 3, 2007

Arena, 2009? Forest City's timeline contradictions continue

CharlesRatner.gifCharles Ratner gets "reblogged" in Atlantic Yards Report.

Forest City Enterprises (FCE) CEO Chuck Ratner (right), who in early March indicated that the Atlantic Yards project could take 15 years and that the arena would open for the 2010–11 season, is certainly back on message.

During a conference call last Thursday, Ratner and colleagues assured investment analysts that the project would meet the announced schedule, with the arena opening in time for the 2009–10 season.

The certainty professed, however, was at odds with Ratner’s words earlier in March and the doubts Forest City executives expressed during other segments of the conference call regarding other company projects.

Indeed, Ratner seemed to talking out of two sides of his mouth, telling the analysts, “As you know, in our business, these things take a very long time, most often, frankly, longer than we anticipate.”

Also, while Atlantic Yards was described at one point as being under construction, later it was placed in a category of projects that are decidedly not yet under construction.

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Posted by lumi at April 3, 2007 8:30 AM