News, A 58-story skyscraper in San Francisco is tilting and sinking (2014, fees)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
That's the thing about the structure of corporations and LLCs.. the people who did this can just go bankrupt or dissolve and disappear, take their money with them and face little in the way of consequences for this. The way in which people can repeatedly set up LLCs and take advantage of financial laws is very seedy. Clearly the rich have set the system up so that they can be parasites and get away with it. People should be held personally responsible and have their personal wealth confiscated when they knowingly cut corners, not simply file bankruptcy of their LLC and walk away scott free.
That's the thing about the structure of corporations and LLCs.. the people who did this can just go bankrupt or dissolve and disappear, take their money with them and face little in the way of consequences for this. The way in which people can repeatedly set up LLCs and take advantage of financial laws is very seedy. Clearly the rich have set the system up so that they can be parasites and get away with it. People should be held personally responsible and have their personal wealth confiscated when they knowingly cut corners, not simply file bankruptcy of their LLC and walk away scott free.
Exactly. It seems more and more that big white collar crime sees no consequences and so the corruption continues to grow. One of the things that makes American a better place to live than many countries is the (relative) lack of corruption. But we are seeing it now - not from the outside but the insider US born greed.
If people aren't held responsible they just keep on breaking the law and we will be living in a 2nd world **** hole.
I hope the owners of those condo's get offered fair market value to move.
A/There is NO way I'd live so high up in an earthquake zone.
B/There is NO way they should've been allowed to build without being attached to bedrock. Just the thought of it gives me the creeps.
A/There is NO way I'd live so high up in an earthquake zone.
B/There is NO way they should've been allowed to build without being attached to bedrock. Just the thought of it gives me the creeps.
Agree with this.
Developer paid someone off for a variance and poor engineering.
Also agree with the guy that was talking about the paper shell game and sheltering money by using LLC's for projects to protect oneself from liability. While I agree with the concept in principal there needs to be repercussions for situations like this.
The pendulum has swung way too far in favor of corporations and in general wealthy when it comes to "justice" in our legal sysetm
"Some critics blame the city of San Francisco for allowing Millennium Partners to anchor the building 80 feet into packed sand rather than 200 feet down to bedrock..."
Stupid. The developers probably paid off a politician to get the variance.
Just because they're listed for millions doesn't mean they'll sell for that - or at all. Would you buy a condo in a building with a probably unfixible foundation problem? Most people would answer that question with a resounding "NO!"
The condo residents are right to be upset. Just because they are wealthy doesn't mean they aren't the victims of an injustice here. By your logic, residents of 3rd-world slums ought to be free to mock a US homeowner who's $200,000 house is going to have to be demolished because it was improperly built.
As an engineer, I can think of several ways to fix this problem. Unfortunately, none is a permanent solution. Should have gone down to the bedrock in the first place.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
