Fred, as you will recall, was the manager of both the Bentley and the Fulton at various times. Fred currently owns the Parc England Hotel and the Bistro on the Bayou restaurant at England Air Park.
Listen to this audio clip of this morning's show wherein Fred gives us an excellent historical overview beginning with Capital One and the Fulton:
FRED ON CAPITAL ONE ON 1/3/2012 (10:56)
It was interesting to hear Fred say that if Alexandria had let Capital One proceed with its foreclosure plans, the Fulton Hotel would have already been up and running under a permanent owner by now.
Hopefully Fred will continue on over the next few days with this historical overview. On the Capital One issue, I hope that Fred will point out that after the original bankruptcy court ruling, U.S. District Court Judge Dee Drell reversed that ruling and remanded it back to the bankruptcy court. Hence, that is why the City of Alexandria is still in a bankruptcy fight with Capital One, and its $3,081,916.52 security interest in the Fulton, which will be set for trial later this year.
If Capital One prevails, the City would have the option of paying Capital One off or letting it foreclose. Either way, the property could not be disposed of until December of this year because it was originally expropriated.
See Also:
SPECIAL ALEXANDRIA CITY COUNCIL MEETING ON THE DOWNTOWN HOTELS OF 12-22-2011 and the posts linked therein
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Help....my ears were bleeding so bad listening to Fred regurgitate the hotel fiasco history again. He has spoon fed that crap to us at least once a week. Pleeeze Fred, give it up, move on, get a life, get over it. I have to change the station every time Fred gets on one of his rants and goes on and on. Yet, when a caller calls in they are quick to cut them to about 30 seconds and even less if the phone lines are lit up. Fred, the old expression is true so please practice it: "less IS more!"
ReplyDeleteI happened to like Fred's history, and hope that he does more.
ReplyDeleteHave you ever thought about not listening to the show if it offends you that much?
Yes, I have but I like to listen to stupid comments and occasionally catch one of your calls too. YOu can tell Fred is a lawyer, it takes him 1000 words to make a point that a lay person could accomplish in 100. Greg, you are wasting your praise for Fred. According to Fred, he does not read your blog and has stated that along with no liking of promoting it.
ReplyDeleteIf you would read this blog, you would see that I do not always agree with Fred.
ReplyDeleteBut I have enough sense to both agree on some things and disagree on others.
Fred perhaps knows more about the hotel business then anyone locally and perhaps as much as anyone in the state.
What experience do you have?
The FULTON(ROY/SILVER)Hotel needs to be sold and
ReplyDeletevery soon!!! Stop spending TAXPAYERS $$$ on this DUMP, let some true REAL ESTATE person sell
this DUMP and get that DUMBASS ROY out of the picture! We have lost conventions and will loose
more in the near future! City Hall was built to
save down town, the Riverfront Center was built to save down town & get conventions to come here
but First of all we as a CITY need to offer those coming for conventions some type of places
to go after their meetings, or something for their families to do other than the ZOO or Fort
Randolph! We spoke of a board walk on the river and Shreveport,LA built one way after we are still thinking about building one! I see SILVER closed his downtown store and went to the Mall area, he saw the handwriting on the wall and he
want to spend our TAX $$$ for a ghost town ideal
When will it ever end????? SELL the FULTON while
the bricks are still held together!!! LOL