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Oakland Tribune Covers SunCal Oak Knoll Debacle

The Oakland Tribune published an article yesterday about how SunCal’s and Lehman’s wrangling continues even while Oak Knoll deteriorates. Is this what we can expect from SunCal and DE Shaw?

The article states:

Even the historic Club Knoll, a Mission-style landmark built in 1924 that SunCal promised to restore and open to the public, has been stripped and trashed, with discarded cigarette butts, liquor bottles and hypodermic needles littering every floor.

We’d best keep SunCal’s hands off the former Officers Club at Alameda Point.

1 comment to Oakland Tribune Covers SunCal Oak Knoll Debacle

  • barb

    In answer to the question: “Is this what we can expect from SUNCAL and DEShaw?” The best evidence of how an entity will perform in the future is how that entity has performed in the past.

    There is no evidence that SUNCAL,and or DESHAW will treat, or be financially able to treat, Alameda any differently than Oak Knoll.

    Instead of being financed by a bank with strict regulatory requirements, SUNCAL is financed by the hedgefund DESHAW. DESHAW’s first and foremost obligation will be paying the interest on its money for itself and its investors, then repayinging itself the principal, then reaping huge profits based on the speculative nature of this gamble. It is different from the neighborhood loanshark, in that the neighborhood loan shark at least wants to keep its borrowers alive to repay. There is no evidece of that altruistic appearing but selfishly motivated goal from the way SUNCAL has been dealing with Oak Knoll.

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