Panthers terminating Rock Hill project agreements

[SizzleBuzz]

4 hours ago, CRA said:

it’s clear RH had no intention of playing the role as Tepper defined it in his press statements.  

And what role was that?

[CRA]

22 minutes ago, SizzleBuzz said:

And what role was that?

Taking the level of financial risk and burden Tepper wanted them to.  
 

 

[SizzleBuzz]

25 minutes ago, CRA said:

Taking the level of financial risk and burden Tepper wanted them to.  
 

 

And what was that "level of risk and burden", specifically?

[frankw]

Mr. Tepper must be so relieved to know there are such staunch defenders of his honor here on the carolinahuddledotcom.

[CRA]

15 minutes ago, SizzleBuzz said:

And what was that "level of risk and burden", specifically?

debt/risk for a project that wasn’t going to give them the return in the end.  

Like I said RH is to blame.   They just aren’t alone.   I probably would start at the SC State House.  That’s me though. 

again you freak out because I think a poo ton of people are to blame.  You want Tepper portrayed as some poor innocent soul that was the lone honest business person.  I’m not willing to go there until the clusterfug is laid all on the table.  You do you though. 

 

[poundaway]

2 hours ago, CRA said:

debt/risk for a project that wasn’t going to give them the return in the end.  

Like I said RH is to blame.   They just aren’t alone.   I probably would start at the SC State House.  That’s me though. 

again you freak out because I think a poo ton of people are to blame.  You want Tepper portrayed as some poor innocent soul that was the lone honest business person.  I’m not willing to go there until the clusterfug is laid all on the table.  You do you though. 

 

If RH had issued the bonds, the project would be going right now.

[SizzleBuzz]

3 hours ago, CRA said:

debt/risk for a project that wasn’t going to give them the return in the end.  

Could you be more vague?

 

3 hours ago, CRA said:

Like I said RH is to blame.   They just aren’t alone.   I probably would start at the SC State House.  That’s me though. 

Apparently not, this is even more vague .

 

3 hours ago, CRA said:

again you freak out because I think a poo ton of people are to blame.

I'm not freaking about anything, simply interested to hear your rationale for the unending stream of outlandish positions you foment.

 

3 hours ago, CRA said:

 You want Tepper portrayed as some poor innocent soul that was the lone honest business person.

Nonsense.  

I was against Tepper receiving public funds for this project, and am against the moronic Charloot City Council giving him any of our benjamins...

...got that?

 

3 hours ago, CRA said:

I’m not willing to go there until the clusterfug is laid all on the table.  You do you though.

You are absolutely "willing to go there", and have repeatedly done so...

...think about it .

Edited June 11, 2022 by SizzleBuzz

[CRA]

2 hours ago, poundaway said:

If RH had issued the bonds, the project would be going right now.

Bonds require investors.  That’s the money.   Did they have that? 

Maybe.  Maybe not.  That was a reported issue they were having.  It came up when they were complaining Tepper Sports kept not giving them details for the investors.  

* all goes back to the language.  Can’t recall what it was.  They didn’t guarantee they would issue the bonds.  Best effort to. 

and the practice stadium wasn’t where RH would have benefited.  It was everything that was suppose to come with it.  And COVID seemed to of altered that.   And they seemed to become aware things changed.  I’m sure Tepper did too.  And it sure looks like people were working on solutions.  Seems like Tepper agreed to one verbally before pulling the plug. 

maybe Tepper shouldn’t of gone to work before the funds were acquired.  Or maybe he did that to try to squeeze a small town.  Who knows.  Billionaires generally are good at making money by doing what they legally can….not what is right. 

but again, I think lots are to blame.  Lots.  I haven’t excused a single party.  Some are just breaking their backs to defend Tepper before the facts of the epic cluster fug come out.  You do you.  Don’t expect others to be in a rush to claim anyone is innocent in this nightmare lol. 

[SizzleBuzz]

14 minutes ago, CRA said:

It came up when they were complaining Tepper Sports kept not giving them details for the investors.  

What ”details”? 

[CRA]

1 hour ago, SizzleBuzz said:

Could you be more vague?

 

Apparently not, this is even more vague .

 

I'm not freaking about anything, simply interested to hear your rationale for the unending stream of outlandish positions you foment.

 

 

You are absolutely "willing to go there", and have repeatedly done so...

...think about it .

The bonds mature.  Interest is paid until they do.  Then the money has to be paid back to the investors.  That’s the risk/debt. 

saying I’d start with the SC State House in my long list of those at fault in this nightmare isn’t vague lol.  That’s SC politicians.  And I start with McMaster.  They were key in this mess getting rolling from the start. 

I thought about it.  Haven’t gone there.  Pretty sure I haven’t excused a single party at all in the clusterfug.  None.  Don’t plan too.  Not until more is known.  

 

[CRA]

4 minutes ago, SizzleBuzz said:

What ”details”? 

If someone wanted you to invest your money….do you want info on the project your money is going to build?  

It was one of the allegations back when the pause occurred.  Tepper Sports had no comment. 

[SizzleBuzz]

2 hours ago, CRA said:

The bonds mature.  Interest is paid until they do.  Then the money has to be paid back to the investors.  That’s the risk/debt.

So you think Tepper should be on the hook for paying back municipal bonds issued by the City of Rock Hill?

 

2 hours ago, CRA said:

If someone wanted you to invest your money….do you want info on the project your money is going to build?  

It's not relevant to the issuance of the muni bonds in question.

That said, what "information" are you alleging was withheld?

Edited June 12, 2022 by SizzleBuzz

[Tbe]

Interesting allegations from York County in the lawsuit. 

 

57. TERMINATION OF THE PROJECT Originally, the City of Rock Hill was obligated to issue the bonds by October 2020. That date was subsequently amended to February 26, 2021.  
 

58. However, the City did not issue the bonds by February 26, 2021.
59. Following the City’s missed deadline, the Tepper Defendants approached York County and the City of Rock Hill to discuss the City’s ability or inability to issue the required bonds. A meeting was held with the Tepper Defendants, the City of Rock Hill, and York County in attendance.
 

60. At that meeting and in subsequent meetings, it was agreed by all parties including the City of Rock Hill that it was advisable and necessary to obtain York County’s assistance in obtaining the bond financing required of the City of Rock Hill by the various agreements. 61. All parties agreed that the Tepper Defendants would request the financial intervention from the County.

62. However, despite the City’s previous agreement for the Tepper Defendants to pursue such an arrangement, the City of Rock Hill publicly refused to accept the financial assistance they acknowledged was needed and desirable.  63. 64. The City did not accept the County’s assistance and failed to issue the bonds. On or about March 7, 2022, the Tepper Defendants announced that they were pausing construction on the Project. At that time, the Tepper Defendants alleged that the City of Rock Hill had been unable to come up with the promised $225 million in bond proceeds. 65. In contrast, the City of Rock Hill accused GTRE and the Tepper Defendants of breaching their agreements themselves and failing to cooperate with the City and its bond underwriters to facilitate the bond issuances. 66. Prior to these pronouncements, in early 2022, the Tepper Defendants, including Appaloosa Management and its CFO Michael Palmer, again approached York County in an attempt to structure an alternative financial arrangement and continue the Project.  
 

67. In fact, the Tepper Defendants – including representatives of Defendant
 68. Going above and beyond its commitment to the Project, York County Council passed its own resolution on March 21, 2022, authorizing County personnel to pursue an arrangement to save the Project. 69. This time, perhaps sensing its time was up and the imminent collapse of the Project, the City of Rock Hill agreed to York County’s assistance.  70. 71. However, no such arrangement was reached. On April 19, 2022, the Tepper Defendants announced that they had terminated GTRE’s agreements with the City of Rock Hill. 72. 73. On June 1, 2022, GTRE filed for Chapter 11 Bankruptcy. 

Edited June 12, 2022 by Tbe

[CRA]

39 minutes ago, SizzleBuzz said:

So you think Tepper should be on the hook for paying back municipal bonds issued by the City of Rock Hill?

 

It's not relevant to the issuance of the muni bonds in question.

That said, what "information" are you alleging was withheld?

You just keep repeating the question.  Which also means you haven’t really listened to any allegation that folks have had about how Tepper has gone about doing  business. 

bonds require investors.  they are the ones putting up the money.  RH’s complaint early on was when they would request info on the project (for investors) and Tepper Sports would go silent.  The additional details on the project were needed to attract the investors.   So again.  Tepper Sports would then be part of the delay.  Tepper Sports refused to address the complaint when the media went to them. 

I don’t know anything that was discussed in reality. Neither do you.  That’s why I am holding off deeming anyone in the clear until more info is out.  There was an article that said RH and Tepper had major contention about the bonds and who would be fully responsible in the end.  If project didn’t turn out as originally planned pre COVID RH would be massively screwed wouldn’t they?   Think that’s why alternate solutions were sought (probably the don’t issue the bonds allegation). Per reports Tepper agreed to one verbally with YC and then pullled a 180 on it. 

safe position is to hold everyone involved at fault for the giant clusterfug until the details eventually make it more clear.  It’s a pretty massive assumption that the billionaire wasn’t part of the failure. 

Billionaires and politicians.  Horrible lot of folks.  Shady lairs.  I don’t trust any of them.  You have a carve out for billionaires.  I think they all are full poo.