There isn't much point in discussing this senseless LVN article as journalism. The paper's publisher, who doubles as the one person there entrusted with the awesome responsibility of writing about Sierra Madre's news, couldn't carry a thought to conclusion in a wheelbarrow. And if the topic heads north of Hello Kitty on the complexity scale, well, you'd better start dropping bread crumbs.
So rather than wading across this mile of muck, I thought we'd pluck out a few fine examples of LVN synaptic dysfunction, and then set the record straight. An absurd exercise, I know. But in the great search for what is truly important in life, sometimes you just have to improvise.
CSF was represented at the council meeting by Susan Hori, an attorney with the high powered law firm of Manatt, Phelps & Phillips, LLP, and Brian Salsner, Director of the project.
Couple of problems here. The first being that Susan Hori is not an attorney with this firm, she is a partner at the firm. There's a big difference in that. And rather than taking the LVN publisher's word, ask a real lawyer. And Brian "Salsner" actually spells his last name Sosner. And Sosner is hardly the "Director of the project," he is actually a national executive in charge of CapitalSource's financial problem children. Here is how they describe this gent's responsibilities on the CapitalSource site:
As a Portfolio manager within CapitalSource's Structured Finance Group, Mr. Sosner is primarily responsible for managing a portfolio of troubled real estate assets and implementing a special servicing asset management operation for all nonperforming classes of commercial real estate and real estate owned as well as procedures to turnaround, reposition, and/or liquidate such assets.
In other words, he's the guy who deals with the company's toxic investments. If it's a fiscal basket case, then Brian is the guy who has to handle it. And that he flew all the way out here from the company's corporate headquarters in Chevy Chase, Maryland, is saying a lot. I guess that puts One Carter into a very special category of unmitigated disaster.
And you thought this guy was nothing but the smirking fellow we all saw seated behind Lawyer Hori two weeks ago.
Since the original owners of the properties, Dorn Platz, defaulted on their loans, the properties were taken over by Capital Source Funding (CSF).
There is no firm currently owning property in Sierra Madre called "Capital Source Funding." The folks who came by our City Council meeting two weeks ago are from a company called CapitalSource. "Strength You Can Bank On," as they like to say. And with $28 billion in assets to back the claim up.
And I don't want to get too politically correct on you guys, but weren't the original owners of the properties in question Native Americans? The Gabrieleno/Tongva Tribe to be exact? I mean, we all know who Dorn Platz is, and I'm sure the Loony Views News is as enamored of them as they are any other developer. But to suggest that their ownership of One Carter extends back for thousands and thousands of years? Is the publisher claiming the existence of a Dorn Platz Tribe?
And I cannot believe that the LVN's publisher fell for this bit of chump chum:
Hori pointed out to the council that they have made several changes to the original settlement plan including decreasing the number of units on Stonehouse from 35 to 20. Said Hori, "Our desire is to arrive at a point to finalize the Settlement Agreement."
Swallowing and printing Hori's fictitious claim about having reduced the amount of home sites from 35 to 20 at Stonehouse is just terrible journalism. Whether out of ignorance or from rancor, this really is inexcusable. The count at Stonehouse has been 20 houses since November of 2007. Tracy Thomas gives a very clear explanation of this in a video available on the Neuroblastfilms Channel. And since this LVN article quotes Tracy elsewhere, you can only wonder why that particular fact went astray.
Another perplexing item. Can anybody please tell me what the following sentence means?
"However, whether or not residents will ever the developer of the projects is doubtful."
Maybe the LVN's publisher should take the sign's advice and write for free help?
Now this last item is kind of painful for me, because it involves two of my former colleagues from the old Mount Wilson Observer. Yes, we're talking about Rich Johnson and Hail Hamilton. And frankly, as outre' as either of these gentlemen can occasionally be, nobody deserves the fate they are currently suffering. Denied the "privilege" of discussing the affairs of Sierra Madre by their controlling publisher, both have been forced to cast their journalistic nets far and wide to find allowable topics to discuss. And what is it these two are currently fighting about? Something called "the tyranny of capitalism."
I'm telling you, it's like another planet over there.