Saturday, December 15, 2007
Saturday, December 8, 2007
Check out this YouTube Channel!
YouTube Broadcast Yourself™
Hi adm911C.mail@blogger.com,bemuslim wants you to check out this YouTube Channel: Message from bemuslim:Assaalamu'alaikum... | Using YouTube YouTube Help Check the Help Center for answers to common questions. Your Account Settings To change your preferences, settings, or personal info, go to the 'My Account' section. Email Notifications To change or cancel email notifications from YouTube, go to the Email Options section of your Profile. |
Copyright © 2007 YouTube, Inc.
Thursday, December 6, 2007
911 The Explosive Reality outtakes
A lot of weird flashes and explosions from recently discovered footage, plus a witness - who claimed to be injured by a car bomb - dragged away before he could be interviewed on camera.
911 WTC DEMOLITION SEQUENCE FINALLY REVEALED
The video is pretty revealing. It appears the thermite/explosives in the building that they used caught on fire due to damage near the building corner, and it really made a storm of sparks. I hope Steven Jones runs with this thing... Ultimately...if I was still a mason, I'd be sending my lodge demit in TODAY...because the secret societies have become so EXTREMELY criminal, that they are unsustainable. After a short stay with the masons in 1992, I managed to get the hell away from the group. They wanted to bring me back in (why? I dunno), but they are so corrupt, that they can't couldn't even corrupt me. The system is so heinous that their traps and enticements came off as comical and bizarre... I guess I really was dealing with the "Keystone Cops"....as depicted in the early silent films. "The keystone the builders rejected".
As I was saying...if I was a secret society freak, I'd get out while the getting is good. People are going to jail over this...big time. Some people estimate that the numbers will be in the thousands. Take a personal vow of honesty. I did back in 1992. It made a mess of my life, but whatever it did...it got me out of low level illuminsecti activities. Overall, I'm much better off because of it. Money lovers are bug-brains...trying to swindle cash and property like insects carve up other bugs. It's sick! It's sick!
Anyway, I have chores to do.
tkra at how.org
Molten Metal WTC Thermite
The video is pretty revealing. It appears the thermite/explosives in the building that they used caught on fire due to damage near the building corner, and it really made a storm of sparks. I hope Steven Jones runs with this thing... Ultimately...if I was still a mason, I'd be sending my lodge demit in TODAY...because the secret societies have become so EXTREMELY criminal, that they are unsustainable. After a short stay with the masons in 1992, I managed to get the hell away from the group. They wanted to bring me back in (why? I dunno), but they are so corrupt, that they can't couldn't even corrupt me. The system is so heinous that their traps and enticements came off as comical and bizarre... I guess I really was dealing with the "Keystone Cops"....as depicted in the early silent films. "The keystone the builders rejected".
As I was saying...if I was a secret society freak, I'd get out while the getting is good. People are going to jail over this...big time. Some people estimate that the numbers will be in the thousands. Take a personal vow of honesty. I did back in 1992. It made a mess of my life, but whatever it did...it got me out of low level illuminsecti activities. Overall, I'm much better off because of it. Money lovers are bug-brains...trying to swindle cash and property like insects carve up other bugs. It's sick! It's sick!
Anyway, I have chores to do.
tkra at how.org
Here's the video that Google Video pulled down!
CHECK IT AND THINK ABOUT WHO THE REAL PERPS WERE ON THAT DAY!!!
9/11 The falling man [pr0x]
September 11 2001 was a day of many incredible and shocking stories: stories of survivors, stories of heroes. But there was one story that people didn't want to face. The story of the people who began to jump from the World Trade Center just minutes after the first plane hit. Their images were caught on videotape and in photographs, but soon they were never seen again, as if they had never existed.
Among those pictures is one of the most unforgettable images from 9/11 - a photograph of a falling man, frozen in mid air, his body perfectly parallel with the twin towers of the World Trade Center.
Thank you for all the responses :)
and im sorry for everyone that messages me about how they were involved/knew someone that was in the towers.
i hope you all can move on and try to appreciate life for how great it really is.
I will have this video available for download soon!
plz don't spam me with messages for movie download opportunities, i do have a life other than youtube so i will do it when i have time.
:p
The way i uploaded this-
ou have to upgrade your youtube account to a directors account. then they let you upload movies with no time limit, but it still has to be under 100mb. then i compressed the file to 100mb, thus lowering the quality but it is still watchable.
:p
[THIS IS NO LONGER IN EFFECT. THEY CHANGED IT RECENTLY BECAUSE THEY FIGURED THAT EVERYONE WOULD START UPLOADING WHOLE MOVIES (LIKE ME) AND DECIDED TO MAKE IT SO THAT YOU CAN ONLY UPLOAD MOVIES 10 MINUTES LONG. I JUST CREATED AND UPLOADED THE MOVIE RIGHT BEFORE THEY DID THIS]
9/11: Total Proof That Bombs Were Planted In The Buildings!
911 and zionist connection About Daryl Bradford Smith
Contact: smith@iamthewitness.com
Note: Smith reads most email, but cannot respond to all
Daryl Bradford Smith is an American patriot who decided to produce radio interviews because of his concern for the future of America.
Smith was born and raised in the USA. His lineage can be traced back directly to the immigrants on the Mayflower. He still holds dear his Yankee roots and his minuteman mindset.
He worked as a top chef, owned his own restaurant, and was a professor. A few years ago he moved to France with his wife. He planned to move back to the USA after living in France for a few years, but now he is worried about the future of America.
His European perspective and his central location in France give him a unique world view.
Smith is willing to discuss the issues other radio shows either avoid or hold back on, such as pedophilia, Zionism, and blackmail.
Smith calls himself the witness because it is his sincerest dream to be standing at the trial and execution of the criminals who rule (and ruin) our world.
911 and the zionist connection (part 1 of 3)
911 and zionist connection About Daryl Bradford Smith
Contact: smith@iamthewitness.com
Note: Smith reads most email, but cannot respond to all
Daryl Bradford Smith is an American patriot who decided to produce radio interviews because of his concern for the future of America.
Smith was born and raised in the USA. His lineage can be traced back directly to the immigrants on the Mayflower. He still holds dear his Yankee roots and his minuteman mindset.
He worked as a top chef, owned his own restaurant, and was a professor. A few years ago he moved to France with his wife. He planned to move back to the USA after living in France for a few years, but now he is worried about the future of America.
His European perspective and his central location in France give him a unique world view.
Smith is willing to discuss the issues other radio shows either avoid or hold back on, such as pedophilia, Zionism, and blackmail.
Smith calls himself the witness because it is his sincerest dream to be standing at the trial and execution of the criminals who rule (and ruin) our world.
911 Jew sons of SATAN 666 Bastards Protocols of Zion NWO
911 Jew sons of SATAN 666 Bastards Protocols of Zion NWO
The History of the House of Rothschild
http://www.iamthewitness.com/DarylBra...
Protocols of ZION World Jewish government
http://www.biblebelievers.org.au/przi...
ANTI - Zionist New World Order Website
http://www.iamthewitness.com/
Illuminati Mystery Babylon -- Texe Marrs
http://video.google.ca/videoplay?doci...
Texe Marrs - Thunder Over Zion
http://video.google.ca/videoplay?doci...
When the Zionist Jew Occupied Government and media of the USA started promoting womans liberation to reduce the birth rate and massive immigration from the third world it was then I knew our country was being attacked from within.
Genocide in the USA
http://www.usapopulationmap.com/usa_f...
Israel has a racist Jew only immigration policy. The reason for this is multiculturalism and borders open to immigration is genocidal to any race.
The Jews, ZOG, and ZOGlings
http://kelticklankirk.com/Jews_ZOG_an...
Is America headed for Idiocracy?
http://www.vdare.com/Sailer/061217_id...
THE TALMUD AND JUDAISM
http://www.revisionisthistory.org/tal...
Research Proves "Jews" are non-Israelite Asiatics!
http://www.biblebelievers.org.au/13tr...
EXPLOSIVE WAVE OF ANTI-SEMITISM PREDICTED
http://www.conspiratology.com/antiwav...
Take Our World Back!
GOVERNMENT AND MEDIA DECEPTIONS EXPOSED
http://www.takeourworldback.com/
If Americans Knew - Documentary Trailer
If Americans Knew - Genocide of Gentiles by Jews
http://www.jewwatch.com/
If the United States did not have a Zionist Occupied Government and media there would not be any fringe white pride groups because the government would be loyal to white people.
The USA ZOG is loyal to Jews and Israel and is killing off all white Christians because they view them all as potential Neo Nazis.
Genocide of whites
If the United States did not have a Zionist Occupied Government and media there would not be any fringe white pride groups because the government would be loyal to white people.
The USA ZOG is loyal to Jews and Israel and is killing off all white Christians because they view them all as potential Neo Nazis.
http://www.usapopulationmap.com/usa_f...
You don't have to be a Nazi to be exterminated by Jews. Only a potential Nazi(white)
Jews hate white children(potential Nazis)
http://www.adl.org/hate_symbols/numbe...
Jews are NOT white (Aryan)
http://www.youtube.com/watch?v=n0hpsR...
-
The United States Zionist Occupied Government:
The Zionist Jew owned media attacks anyone the JEWS don't like. They ruin them in the media and they also give millions of dollars to their opponents.
JEWS use AIPAC, the media and big money to control the United States government to get one third of all US foreign aid given to Israel and send Americans to fight and die in wars for Israel the Apartheid state for JEWS only. JEWS promote multiculturalism outside Israel.
Jew - CBS - Paley
Jew - NBC - Jeff -(rey) Zucker
Jew - ABC - Stuart Bloomberg and George W. Bodenheimer
Jew - ABC news - David Westin
Jew - CNN - Gerald Levin
Jew - FOX - Gail Berman
Jew - MBS - Ronnessen
Jew - Daily News - Maxwell, real name HOCH
Jew - US News - Zuckerman
Jew - New York Times - Sulzberger
Jew - Reuters - (All report from the world is from this jewish org.)
Jew - BBC, Sunday News - Michael Ian Grade and Murdoch empire
http://www.adl.org/hate_symbols/numbe...
"We must secure the existence of our people and a future for white children."
http://www.iamthewitness.com/DarylBra...
The Protocols of ZION
http://www.biblebelievers.org.au/przi...
Wednesday, December 5, 2007
Monday, October 29, 2007
CaptainSensible : I have to say goodbye my friend.
I wish you luck but upon closer inspection of your group site and with the knowledge that you haven't got a clue about Larry Silverstein I can only deduce that you are incredibly ignorant. How on earth you managed to get 500 plus folks to join your site is simply beyond me. I assume that you started this site to sate your own ego. How callous you must be.
It is not possible for members to add content at your site. Your members must endure just what you put up. That is very sad indeed.
At 9/11 members can say what they like and add content. Maybe that is why 9/11 has almost 1000 members in just 6 days.
Here is an overview of Mr Larry Silverstein. I am very disappointed in you and your ego driven site. Don't worry coz I shall make mention of it at mine.
Larry Silverstein
From Wikipedia, the free encyclopedia
• Learn more about using Wikipedia for research •
Jump to: navigation, search
7 World Trade Center
7 World Trade Center
Larry A. Silverstein (born 1932 in Bedford-Stuyvesant in Brooklyn, New York) is an American billionaire real estate investor and operator and the head of Silverstein Properties, a real estate development group. Silverstein is also a member of New York University's Board of Trustees. Silverstein was the leaseholder of the World Trade Center property at the time of the September 11, 2001 attacks and currently oversees its reconstruction.
Contents
[hide]
* 1 Background
* 2 World Trade Center lease
o 2.1 7 World Trade Center
o 2.2 World Trade Center
* 3 Other projects
* 4 September 11, 2001 attacks
o 4.1 Dispute with Insurers
o 4.2 Negotiations to rebuild at the World Trade Center site
* 5 References
* 6 External links
[edit] Background
Larry Silverstein graduated from New York University in 1952, and married in 1956. He also attended classes at Brooklyn Law School. He and his wife, Klara, have three children: Lisa, Roger and Sharon.
Silverstein became involved in real estate, together with his late father, Harry G. Silverstein, and then friend and brother-in-law, the late Bernard Mendik, buying buildings in Manhattan. In 1957, they established Silverstein Properties, as Harry G. Silverstein & Sons, and bought their first building. Mendik and Silverstein continued the business after Harry's death in 1966. In 1977, Mendik divorced Annette Mendik Silverstein, with the business partnership also splitting up at that time.[1] Mendik also cited disagreements over real estate strategies, with Mendik wanting to buy buildings while Silverstein wanted to build.[2]
[edit] World Trade Center lease
[edit] 7 World Trade Center
Main article: 7 World Trade Center
In 1980 Larry Silverstein won a bid to lease and develop the last undeveloped parcel from the Port Authority of New York and New Jersey to build 47-story 7 World Trade Center.
[edit] World Trade Center
Main article: World Trade Center
During the 1990s, New York was suffering from the effects of the 1987 stock market crash leading to high vacancy rates at the World Trade Center. George Pataki became Governor of New York in 1995 on a campaign of cutting costs, including privatizing the World Trade Center. A sale of the property was considered too complex, so it was decided by the Port Authority to open a 99-year lease to competitive bidding. [3]
In January 2001, Silverstein, via Silverstein Properties and Westfield America, made a $3.2 billion bid for the lease to the World Trade Center. Silverstein was outbid by $50 million by Vornado Realty, with Boston Properties and Brookfield Properties also competing for the lease. However, Vornado withdrew and Silverstein's bid for the lease to the World Trade Center was accepted on July 24, 2001, seven weeks before the buildings were destroyed in the September 11, 2001 attacks. This was the first time in the building's 31-year history that the complex had changed management.
The deal was described in a press release on July 24, 2001:
"Silverstein Properties, Inc., and Westfield America, Inc. will lease the Twin Towers and other portions of the complex in a deal worth approximately $3.2 billion – the city's richest real estate deal ever and one of the largest privatization initiatives in history. [4]"
The lease agreement applied to One, Two, Four and Five World Trade Center, and about 425,000 square feet of retail space. Silverstein put up only $14 million of his own money [5]. Silverstein was also given the right to rebuild the structures, should they be destroyed. [6]
[edit] Other projects
While Silverstein is most famous for his involvement at the World Trade Center, his real estate holdings include many other buildings in New York City.
As of 1978, Silverstein owned five buildings on Fifth Avenue, as well as 44 Wall Street, and a shopping center in Stamford, Connecticut.[1] In 1980, he bought the building at 120 Wall Street, which was constructed in 1930. Also in 1980, he renovated the building at 11 West 42nd Street, acquired the lease for the Equitable Building at 120 Broadway.
Other buildings include:
* One River Place (42nd Street west of 11th Avenue)
* Two River Place
* 529 Fifth Avenue
* 570 Seventh Avenue
Silverstein was also involved as a developer of the Ronald Reagan Building in Washington, D.C.
In November 2006, Silverstein agreed to buy the building at 99 Church Street from Moody's for $170 million.[7] Moody's is slated to move its headquarters into 7 World Trade Center in 2007. 99 Church Street, built in 1951, contains 441,000 square feet of space.[8] Depending on market demands, the building may continue to be used as office space or as a mixed-use structure, which would also include apartments.[8]
In 1989 Silverstein proposed to members of the Israeli government that a Free-Trade zone should be created within the Negev region of Israel. The project ultimately failed, however it enjoyed popular support amongst leading Israeli political figures. [9]
[edit] September 11, 2001 attacks
[edit] Dispute with Insurers
As a private developer with a 99-year lease on the World Trade Center, Silverstein insured the property. Following the September 11, 2001 attacks, he sought payment for the destruction of the towers as two incidents. The two dozen insurers held that it was one incident. If it were considered to be a single incident, the payout would be $3.55 billion and if it were two incidents, it would be $7.1 billion. Silverstein sued the insurers. In October of 2006, the U.S. Court of Appeals for the Second Circuit upheld a Southern District verdict by a jury that the attacks must be considered a single occurrence. Yet, the same court also upheld a victory in the second phase of trial which was awarded to Mr. Silverstein in which temporary insurance policies in effect when the buildings were destroyed did require that the attack to be treated as two occurrences. Thus, nine insurance companies will pay double the approximately $1 billion in coverage under their policies.[10]
On December 6, 2004, a federal jury ruled in favor of Silverstein giving him an additional $1.1 billion from nine insurers, declaring it to be two "occurrences". [11] However, in a previous trial, a different federal jury delivered a mixed verdict which highly favored insurers on April 29, 2004 [12]
At dispute in the trial were interpretation of standard forms used in the application for property insurance and when particular insurers saw which documents.[13]
In total, Silverstein was awarded nearly $5 billion in insurance money following the destruction of the Twin Towers [14]. He plans to use some or all of the settlement to rebuild. [15] The World Trade Center had a total of 24 insurance policies. In 2007, 6 years after the attacks, Silverstein and the Port Authority of New York and New Jersey filed a $1 billion lawsuit ($250 million in unpaid claims and $750 million in damages) against Royal & Sun Alliance Group Plc and its U.S. affiliate.[16]
Silverstein's lease with the Port Authority for the World Trade Center requires him to continue paying $102 million annually in base rent.[17] He is applying insurance payments toward the redevelopment of the World Trade Center site.[18]
[edit] Negotiations to rebuild at the World Trade Center site
Silverstein had the legal right to rebuild office buildings including the Freedom Tower at the World Trade Center site and while the site is unoccupied, he continues to pay $10 million per month in rent to the Port Authority of New York and New Jersey. After several months of negotiation, in April 2006 he yielded some of those rights back to the Port Authority.
Ground was broken on the construction of the Freedom Tower on April 27, 2006. [19] Lack of financing had prevented construction from commencing earlier. The proceeds of the insurance payments from the destruction of the previous buildings alone were insufficient to cover the cost of rebuilding all the planned buildings.
After the September 11, 2001 terrorist attacks, the United States Congress approved $8 billion in tax-exempt Liberty Bonds to fund development in the private sector at lower-than-market interest rates. $3.4 billion remained unallocated in March 2006 designated for Lower Manhattan, with about half of the funds under the control of Mayor Michael Bloomberg and the other half under the control of former Governor George Pataki.
Negotiations were held to obtain concessions from Silverstein in exchange for allocating the Liberty Bonds to the World Trade Center rebuilding. The concessions were to give back to the Port Authority rights to build and operate the Freedom Tower and another office tower, a share of the insurance payments, and not to contest the allocation to the Port Authority of Liberty Bonds. The Port Authority, a public agency, already has the ability to issue its own tax-exempt debt. The Port Authority will have its proposal in final form in September 2006. In return, the Liberty Bond funds were allocated to Silverstein and government agencies will be anchor tenants in his three office towers. This allows construction to commence.
In March of 2007 Silverstein appeared at a rally of construction workers and public officials outside of an insurance industry conference to highlight what he describes as the failures of insurers Allianz & Royal and Sun Alliance to pay $800 million in claims related to the attacks. Insurers cite an agreement to split payments between Mr. Silverstein and the Port Authority as a cause for concern.[20]
In summary, Silverstein retains rights for Towers Two, Three, and Four. The Freedom Tower (designated as Tower One) will be owned by the Port Authority as well as Tower Five which may be leased out to another private developer and redesigned as a residential building.[21]
[edit] References
1. ^ a b Silverstein Properties, Inc. - Company History. Fundinguniverse.com.
2. ^ Salmans, Sandra. "Putting together city's biggest apartment deal", New York Times, January 28, 1985.
3. ^ Goldberger, Paul (2004). Up From Ground Zero. New York: Random House, p.28. ISBN 1-4000-6017-6.
4. ^ 'Governor Pataki, Acting Governor Difrancesco Laud Historic Port Authority Agreement To Privatize World Trade Center' Port Authority Press Release, July 24, 2001
5. ^ 'Double Indemnity: Was the WTC disaster one incident or two?' Alison Frankel, The American Lawyer, September 3, 2002
6. ^ Goldberger, Paul (May 20, 2002). "Groundwork: How the future of Ground Zero is being resolved.". The New York York.
7. ^ Hess, Diane. "Moody's to sell headquarters to Silverstein", New York Business, November 21, 2006.
8. ^ a b "In Brief", Newsday, November 22, 2006.
9. ^ [1] Up In Smoke - Haaretz
10. ^ Hamblett, Mark. "Circuit Resolves Distribution Of 9/11 Insurance Proceeds", New York Law Journal, October 19, 2006. [2]
11. ^ Starkman, Dean. "Jury Rules for Silverstein on Trade Center Insurance", Wall Street Journal, December 7,2004, p. A11.
12. ^ Starkman, Dean. "Jury's Decision Leaves Rebuilding of World Trade Center in Turmoil", Wall Street Journal, April 30, 2004, p. A1.
13. ^ Jenkins, Jr., Holman. "The Importance of Being Larry", Wall Street Journal, March 6, 2002, p. A17.
14. ^ . 'Charges Of Greed Surface Following Breakdown Of WTC Talks', NY1 News, March 15 2006
15. ^ [3] 4.65 billion reasons why I should rebuild
16. ^ WTC Developer to Get Additional $12.5M Payment from Insurer TIG, Commercial Property News, Barbra Murray, March, 2007
17. ^ 2001 Annual Report. PANY (2002, April 23).
18. ^ WTC Developer to Get Additional $12.5M Payment from Insurer TIG, Commercial Property News, Barbra Murray, March, 2007
19. ^ Construction Begins at Ground Zero, Washington Post, April 28, 2006
20. ^ Silverstein Lashes Out Against WTC Insurers, Special to the New York Sun, March 13, 2007
21. ^ Freeing us from Freedom Tower Nicole Gelinas, City Journal, Autumn 2006
[edit] External links
* Silverstein Properties
* Yahoo! - Silverstein Properties, Inc. Company Profile
* New York Magazine Profile
* Video of speech at cornerstone laying ceremony for the Freedom Tower on July 4, 2004
[hide] v • d • e World Trade Center
Minoru Yamasaki · Construction of the World Trade Center · World Trade Center bombing · September 11, 2001 attacks · Collapse of the World Trade Center · Larry Silverstein · Port Authority of New York and New Jersey · World Trade Center in popular culture
Marriott World Trade Center · 4 World Trade Center · 5 World Trade Center · 6 World Trade Center · 7 World Trade Center · PATH station
World Trade Center site · Freedom Tower · 150 Greenwich Street · 175 Greenwich Street · 200 Greenwich Street · World Trade Center Tower 5 · World Trade Center Memorial
Retrieved from "http://en.wikipedia.org/wiki/Larry_Silverstein"
Categories: 1932 births | Living people | American people | American billionaires | American businesspeople | American Jews | Jewish businesspeople | New York University alumni | People from Brooklyn | Businesspeople in real estate | September 11, 2001 attacks | World Trade Center
It is not possible for members to add content at your site. Your members must endure just what you put up. That is very sad indeed.
At 9/11 members can say what they like and add content. Maybe that is why 9/11 has almost 1000 members in just 6 days.
Here is an overview of Mr Larry Silverstein. I am very disappointed in you and your ego driven site. Don't worry coz I shall make mention of it at mine.
Larry Silverstein
From Wikipedia, the free encyclopedia
• Learn more about using Wikipedia for research •
Jump to: navigation, search
7 World Trade Center
7 World Trade Center
Larry A. Silverstein (born 1932 in Bedford-Stuyvesant in Brooklyn, New York) is an American billionaire real estate investor and operator and the head of Silverstein Properties, a real estate development group. Silverstein is also a member of New York University's Board of Trustees. Silverstein was the leaseholder of the World Trade Center property at the time of the September 11, 2001 attacks and currently oversees its reconstruction.
Contents
[hide]
* 1 Background
* 2 World Trade Center lease
o 2.1 7 World Trade Center
o 2.2 World Trade Center
* 3 Other projects
* 4 September 11, 2001 attacks
o 4.1 Dispute with Insurers
o 4.2 Negotiations to rebuild at the World Trade Center site
* 5 References
* 6 External links
[edit] Background
Larry Silverstein graduated from New York University in 1952, and married in 1956. He also attended classes at Brooklyn Law School. He and his wife, Klara, have three children: Lisa, Roger and Sharon.
Silverstein became involved in real estate, together with his late father, Harry G. Silverstein, and then friend and brother-in-law, the late Bernard Mendik, buying buildings in Manhattan. In 1957, they established Silverstein Properties, as Harry G. Silverstein & Sons, and bought their first building. Mendik and Silverstein continued the business after Harry's death in 1966. In 1977, Mendik divorced Annette Mendik Silverstein, with the business partnership also splitting up at that time.[1] Mendik also cited disagreements over real estate strategies, with Mendik wanting to buy buildings while Silverstein wanted to build.[2]
[edit] World Trade Center lease
[edit] 7 World Trade Center
Main article: 7 World Trade Center
In 1980 Larry Silverstein won a bid to lease and develop the last undeveloped parcel from the Port Authority of New York and New Jersey to build 47-story 7 World Trade Center.
[edit] World Trade Center
Main article: World Trade Center
During the 1990s, New York was suffering from the effects of the 1987 stock market crash leading to high vacancy rates at the World Trade Center. George Pataki became Governor of New York in 1995 on a campaign of cutting costs, including privatizing the World Trade Center. A sale of the property was considered too complex, so it was decided by the Port Authority to open a 99-year lease to competitive bidding. [3]
In January 2001, Silverstein, via Silverstein Properties and Westfield America, made a $3.2 billion bid for the lease to the World Trade Center. Silverstein was outbid by $50 million by Vornado Realty, with Boston Properties and Brookfield Properties also competing for the lease. However, Vornado withdrew and Silverstein's bid for the lease to the World Trade Center was accepted on July 24, 2001, seven weeks before the buildings were destroyed in the September 11, 2001 attacks. This was the first time in the building's 31-year history that the complex had changed management.
The deal was described in a press release on July 24, 2001:
"Silverstein Properties, Inc., and Westfield America, Inc. will lease the Twin Towers and other portions of the complex in a deal worth approximately $3.2 billion – the city's richest real estate deal ever and one of the largest privatization initiatives in history. [4]"
The lease agreement applied to One, Two, Four and Five World Trade Center, and about 425,000 square feet of retail space. Silverstein put up only $14 million of his own money [5]. Silverstein was also given the right to rebuild the structures, should they be destroyed. [6]
[edit] Other projects
While Silverstein is most famous for his involvement at the World Trade Center, his real estate holdings include many other buildings in New York City.
As of 1978, Silverstein owned five buildings on Fifth Avenue, as well as 44 Wall Street, and a shopping center in Stamford, Connecticut.[1] In 1980, he bought the building at 120 Wall Street, which was constructed in 1930. Also in 1980, he renovated the building at 11 West 42nd Street, acquired the lease for the Equitable Building at 120 Broadway.
Other buildings include:
* One River Place (42nd Street west of 11th Avenue)
* Two River Place
* 529 Fifth Avenue
* 570 Seventh Avenue
Silverstein was also involved as a developer of the Ronald Reagan Building in Washington, D.C.
In November 2006, Silverstein agreed to buy the building at 99 Church Street from Moody's for $170 million.[7] Moody's is slated to move its headquarters into 7 World Trade Center in 2007. 99 Church Street, built in 1951, contains 441,000 square feet of space.[8] Depending on market demands, the building may continue to be used as office space or as a mixed-use structure, which would also include apartments.[8]
In 1989 Silverstein proposed to members of the Israeli government that a Free-Trade zone should be created within the Negev region of Israel. The project ultimately failed, however it enjoyed popular support amongst leading Israeli political figures. [9]
[edit] September 11, 2001 attacks
[edit] Dispute with Insurers
As a private developer with a 99-year lease on the World Trade Center, Silverstein insured the property. Following the September 11, 2001 attacks, he sought payment for the destruction of the towers as two incidents. The two dozen insurers held that it was one incident. If it were considered to be a single incident, the payout would be $3.55 billion and if it were two incidents, it would be $7.1 billion. Silverstein sued the insurers. In October of 2006, the U.S. Court of Appeals for the Second Circuit upheld a Southern District verdict by a jury that the attacks must be considered a single occurrence. Yet, the same court also upheld a victory in the second phase of trial which was awarded to Mr. Silverstein in which temporary insurance policies in effect when the buildings were destroyed did require that the attack to be treated as two occurrences. Thus, nine insurance companies will pay double the approximately $1 billion in coverage under their policies.[10]
On December 6, 2004, a federal jury ruled in favor of Silverstein giving him an additional $1.1 billion from nine insurers, declaring it to be two "occurrences". [11] However, in a previous trial, a different federal jury delivered a mixed verdict which highly favored insurers on April 29, 2004 [12]
At dispute in the trial were interpretation of standard forms used in the application for property insurance and when particular insurers saw which documents.[13]
In total, Silverstein was awarded nearly $5 billion in insurance money following the destruction of the Twin Towers [14]. He plans to use some or all of the settlement to rebuild. [15] The World Trade Center had a total of 24 insurance policies. In 2007, 6 years after the attacks, Silverstein and the Port Authority of New York and New Jersey filed a $1 billion lawsuit ($250 million in unpaid claims and $750 million in damages) against Royal & Sun Alliance Group Plc and its U.S. affiliate.[16]
Silverstein's lease with the Port Authority for the World Trade Center requires him to continue paying $102 million annually in base rent.[17] He is applying insurance payments toward the redevelopment of the World Trade Center site.[18]
[edit] Negotiations to rebuild at the World Trade Center site
Silverstein had the legal right to rebuild office buildings including the Freedom Tower at the World Trade Center site and while the site is unoccupied, he continues to pay $10 million per month in rent to the Port Authority of New York and New Jersey. After several months of negotiation, in April 2006 he yielded some of those rights back to the Port Authority.
Ground was broken on the construction of the Freedom Tower on April 27, 2006. [19] Lack of financing had prevented construction from commencing earlier. The proceeds of the insurance payments from the destruction of the previous buildings alone were insufficient to cover the cost of rebuilding all the planned buildings.
After the September 11, 2001 terrorist attacks, the United States Congress approved $8 billion in tax-exempt Liberty Bonds to fund development in the private sector at lower-than-market interest rates. $3.4 billion remained unallocated in March 2006 designated for Lower Manhattan, with about half of the funds under the control of Mayor Michael Bloomberg and the other half under the control of former Governor George Pataki.
Negotiations were held to obtain concessions from Silverstein in exchange for allocating the Liberty Bonds to the World Trade Center rebuilding. The concessions were to give back to the Port Authority rights to build and operate the Freedom Tower and another office tower, a share of the insurance payments, and not to contest the allocation to the Port Authority of Liberty Bonds. The Port Authority, a public agency, already has the ability to issue its own tax-exempt debt. The Port Authority will have its proposal in final form in September 2006. In return, the Liberty Bond funds were allocated to Silverstein and government agencies will be anchor tenants in his three office towers. This allows construction to commence.
In March of 2007 Silverstein appeared at a rally of construction workers and public officials outside of an insurance industry conference to highlight what he describes as the failures of insurers Allianz & Royal and Sun Alliance to pay $800 million in claims related to the attacks. Insurers cite an agreement to split payments between Mr. Silverstein and the Port Authority as a cause for concern.[20]
In summary, Silverstein retains rights for Towers Two, Three, and Four. The Freedom Tower (designated as Tower One) will be owned by the Port Authority as well as Tower Five which may be leased out to another private developer and redesigned as a residential building.[21]
[edit] References
1. ^ a b Silverstein Properties, Inc. - Company History. Fundinguniverse.com.
2. ^ Salmans, Sandra. "Putting together city's biggest apartment deal", New York Times, January 28, 1985.
3. ^ Goldberger, Paul (2004). Up From Ground Zero. New York: Random House, p.28. ISBN 1-4000-6017-6.
4. ^ 'Governor Pataki, Acting Governor Difrancesco Laud Historic Port Authority Agreement To Privatize World Trade Center' Port Authority Press Release, July 24, 2001
5. ^ 'Double Indemnity: Was the WTC disaster one incident or two?' Alison Frankel, The American Lawyer, September 3, 2002
6. ^ Goldberger, Paul (May 20, 2002). "Groundwork: How the future of Ground Zero is being resolved.". The New York York.
7. ^ Hess, Diane. "Moody's to sell headquarters to Silverstein", New York Business, November 21, 2006.
8. ^ a b "In Brief", Newsday, November 22, 2006.
9. ^ [1] Up In Smoke - Haaretz
10. ^ Hamblett, Mark. "Circuit Resolves Distribution Of 9/11 Insurance Proceeds", New York Law Journal, October 19, 2006. [2]
11. ^ Starkman, Dean. "Jury Rules for Silverstein on Trade Center Insurance", Wall Street Journal, December 7,2004, p. A11.
12. ^ Starkman, Dean. "Jury's Decision Leaves Rebuilding of World Trade Center in Turmoil", Wall Street Journal, April 30, 2004, p. A1.
13. ^ Jenkins, Jr., Holman. "The Importance of Being Larry", Wall Street Journal, March 6, 2002, p. A17.
14. ^ . 'Charges Of Greed Surface Following Breakdown Of WTC Talks', NY1 News, March 15 2006
15. ^ [3] 4.65 billion reasons why I should rebuild
16. ^ WTC Developer to Get Additional $12.5M Payment from Insurer TIG, Commercial Property News, Barbra Murray, March, 2007
17. ^ 2001 Annual Report. PANY (2002, April 23).
18. ^ WTC Developer to Get Additional $12.5M Payment from Insurer TIG, Commercial Property News, Barbra Murray, March, 2007
19. ^ Construction Begins at Ground Zero, Washington Post, April 28, 2006
20. ^ Silverstein Lashes Out Against WTC Insurers, Special to the New York Sun, March 13, 2007
21. ^ Freeing us from Freedom Tower Nicole Gelinas, City Journal, Autumn 2006
[edit] External links
* Silverstein Properties
* Yahoo! - Silverstein Properties, Inc. Company Profile
* New York Magazine Profile
* Video of speech at cornerstone laying ceremony for the Freedom Tower on July 4, 2004
[hide] v • d • e World Trade Center
Minoru Yamasaki · Construction of the World Trade Center · World Trade Center bombing · September 11, 2001 attacks · Collapse of the World Trade Center · Larry Silverstein · Port Authority of New York and New Jersey · World Trade Center in popular culture
Marriott World Trade Center · 4 World Trade Center · 5 World Trade Center · 6 World Trade Center · 7 World Trade Center · PATH station
World Trade Center site · Freedom Tower · 150 Greenwich Street · 175 Greenwich Street · 200 Greenwich Street · World Trade Center Tower 5 · World Trade Center Memorial
Retrieved from "http://en.wikipedia.org/wiki/Larry_Silverstein"
Categories: 1932 births | Living people | American people | American billionaires | American businesspeople | American Jews | Jewish businesspeople | New York University alumni | People from Brooklyn | Businesspeople in real estate | September 11, 2001 attacks | World Trade Center
Wednesday, October 3, 2007
Tuesday, October 2, 2007
Download lots of 911 documentaries
http://91.121.24.223/
Here is the site to download lots of 911 documentaries with good
quality and good speeds. You will find almost all the documentaries
here. Pass on this links to your friends.
http://91.121.24.223/
take care
Here is the site to download lots of 911 documentaries with good
quality and good speeds. You will find almost all the documentaries
here. Pass on this links to your friends.
http://91.121.24.223/
take care
Friday, September 28, 2007
Thursday, August 23, 2007
Subscribe to:
Posts (Atom)