Over a year into his adminstration, 0bama is still blaming all his problems on the last president. Even 0bama supporters are not buying it anymore, since the one year statute of limitations is now up. You own it now, 0bama.
Newly inaugurated NJ governor Chris Christie has been charging right out of the box at attacking the problems left to him by former governor Jon Corzine. Christie will get more state worker reforms accomplished in 45 days than Corzine did in 4 years. Next up in Christie’s sights: COAH.
But there’s one rotting piece of garbage that Christie found on his desk that will be a lot harder to take care of. And that’s the disaster in the Meadowlands, the still unopened Xanadu shopping mall. A multi-billion dollar white orange and purple elephant.
The Wall Street Journal has the latest in Dreams of Retail ‘Xanadu’ Meet Harsh Reality. The article claims the thing is 70% leased, but most of the leases have an escape clause in case of failure on the part of owners to meet certain conditions. Like being able to open up the mall for business. And that 70% figure includes Cabela’s sporting goods, and they’ve said they doubt they’ll ever be opening up for business.
Since the state owns the land, the article suggests a nuclear option, and that is for the state to seize the building in a sort of emminent domain taking. Let’s hope it doesn’t come to that.
In the meantime, the Xanadu developers are looking for someone else to lend them a half billion to finish it. Good luck.