New York’s regal palace sold to the Chinese (Roosevelt: sale, hotels)

[leoliu]

Waldorf-Astoria Sold in a $1.95 Billion Deal

Nobody felt saddened by the deal?



Rockefeller Center Deal by Japanese Firm Draws Mixed Reaction in N.Y.

November 01, 1989


New York officials praised the $868-million deal that gave a Japanese company controlling interest in Rockefeller Center--but people in the street were angry to see another piece of Americana fall into foreign hands.
The sale came just weeks before the lighting of the famous Christmas tree that overlooks the center's skating rink and the opening of the Radio City Music Hall Christmas show with its high-kicking Rockettes.
"Money talks very loudly," said New Yorker Sumner Baye. "It's amazing. . . . I wish we could keep it in American hands. I don't think it's very good to be selling everything to the Japanese."
The sale Monday gave Mitsubishi Estate Co. a 51% interest in Rockefeller Group Inc., the largest shareholder in the 57-year-old, 19-building complex in Midtown Manhattan.

[antinimby]

Saddened? Not at all. This is actually a good thing. It shows that there is interest in the property and investment regardless of nationality is always good. It's not like the Chinese investors will do anything to the property. I believe it is landmarked. They're investing and hoping to turn a profit.

What is sad is how some beautiful historic NY hotels like the former Drake has been or possibly in the future The Roosevelt and the Hotel Pennsylvania, though in need of renovation, might be demolished for development. Now that would be tragic.

[NYer23]

Originally Posted by leoliu

Nobody felt saddened by the deal?

I think the concept of nationalism seems a bit outdated in the modern world of globalization. I view the US as a open source that will continue to evolve over time. What the US represents in 50-100 years will be completely different from what it use to be.

My biggest concern will be the integrity of the system which needs to be protected and the rise of corporations over individuals and countries. The individuals need to feel empowered to create change in the system for the better meant of society.

[Kefir King]

Heck,

We bought all of Iraq, didn't we, and are we not in the process of buying Afghanistan and maybe even Syria? By "WE" I mean anyone who owns a billion in oil company stock.

We no longer manufacture ANYTHING but weapons and movies, and so we must buy everything abroad and the dollars come home to buy Waldorf Astoria, Rockefeller Center, and New York's finest housing. When we run out of assets perhaps the Chines will make an offer for the Grand Canyon and convert it to a really REALLY large take-out joint.

We don't really expect them to hang onto our worthless green paper, do we?

[Cida]

Pretty pathetic.



Weapons and movies, eh? That says a lot.