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December 12, 2008

Why the fog? Behind Chuck Ratner's obfuscation about why AY is on hold

Atlantic Yards Report

Norman Oder answers his own existential question:

Q. When is something not on hold when it's on hold?

A. When it's Atlantic Yards.

Forest City Enterprises CEO Chuck Ratner said Wednesday that the company was putting "virtually all new development" on hold. Except Atlantic Yards.

If that were true, then Ratner should have continued, "When lawsuits are cleared, we will begin construction."

Instead, he said, "We remain committed to this and when we get--and we believe we will--successfully through the last of the litigation in 2009, we’ll evaluate the market at the time and see what our next steps are."

So, it's on hold.

However, Ratner's obfuscation (fancy word for "lie") was well worth it, because it pretty much confused every mainstream media organization that tried to cover the latest news.


Posted by lumi at December 12, 2008 5:27 AM