Realtor Pays Million$ to get Trump’s Name off Toronto Hotel


George Pimentel/WireImage

❝ JCF Capital ULC, the closely held U.S. firm that now owns the Trump International Hotel & Tower in Toronto’s downtown business district, reached a buyout deal to exit the contracts with the Trump Organization’s hotel unit…While no breakup fee was disclosed, the amount was at least $6 million…Signage may be removed from the 65-story tower as soon as Aug. 1…

❝ The agreement to remove the the U.S. president’s brand marks the first step toward revamping the property, which has faced a history of construction delays and lawsuits. Most recently, it’s been a site for protests against the Trump’s comments disparaging women, Mexicans and Muslims, even though his company has no ownership stake in the property.

❝ JCF Capital acquired the tower with the Trump brand and agreements in place last year from former owner Talon International, the developer run by Russian-Canadian billionaire Alex Shnaider. Since then, JCF has been in talks with hotel chains and the Trump Organization to complete an operating plan.

The tower was a tough sell under its Trump name: Talon struggled to sell the building after defaulting on its 2007 loan, and when JCF Capital acquired the loan on the property from lender Raiffeisen Bank International AG and launched a sale process for the building, it garnered no bids aside from its own.

Trump’s name is worth about as much to real estate as his so-called presidency will be to the history of the United States. Nada, zilch, nuttin-honey!

“Clean Coal” Plant Billion$ Over Budget Should Just Give Up And Burn Natural Gas


Click to enlargeWilliam Widmer/Politico

Round and round the money goes and where it comes out nobody knows

❝ A coal gasification plant in development in Mississippi is more than $4 billion over budget and years past deadline — and now it may have to rethink plans to burn gasified coal in favor of cheaper natural gas after a recommendation from state regulators.

The recommendation was made to prevent potential rate increases as the Kemper County plant continues to face cost overruns. Kemper was supposed to be up and running by 2014, for less than $3 billion. But the plant has now run up a $7.5 billion tab and may need redesigns on a critical part, a process that could take up to two years to complete, according to E&E News. No official decision has been made yet, but the Mississippi Public Service Commission made it clear last week that burning cheaper natural gas instead of gasified coal may be a long-term solution for the facility…

❝ According to a carbon capture and storage project database maintained by MIT, plans for Kemper started in 2004 but “costs began increasing almost immediately, especially once construction began in 2010 and the company discovered that many of the original designs needed major changes.” Specifically, pipe thickness and metallurgy appeared to have been miscalculated, and, after those changes were made, the support structures for the pipes had to be changed…

Fossil fuel pimps rant and rave against subsidizing any projects for alternative energy. At the same time, it’s business as usual for coal-based plants getting billion$ in subsidies and forgivable loans to keep on cranking out projects that don’t do a damned thing other than suck up taxpayer money and spew out pollution.