Gilbert buys Greektown Casino

**Bham1982** · January-16-13, 07:26 PM

Originally Posted by finster

This dude is like a one man bailout for the city of Detroit.

What has Gilbert done to "bail out" Detroit?

He bought a bunch of properties on the cheap, and financed with taxpayer dollars.

Now you have to pray that his companies never decline, because he's the only major landowner downtown.

**iheartthed** · January-16-13, 07:31 PM

I don't know why people think it's such a good idea for one guy to own most of downtown Detroit.

**downtownguy** · January-16-13, 07:40 PM

Originally Posted by iheartthed

I don't know why people think it's such a good idea for one guy to own most of downtown Detroit.

Someone said to me a few weeks ago regarding Gilbert that they didn't like to see so many eggs in one basket. To which I replied, at least we've got some eggs now.

**MikeyinBrooklyn** · January-16-13, 10:48 PM

Originally Posted by iheartthed

I don't know why people think it's such a good idea for one guy to own most of downtown Detroit.

I am reminded of one of my favorite Broadway shows, The Music Man. Disgruntled River City residents are complaining about the deceased "Old Miser Madison." Professor Hill inquires if it the same old miser who left behind Madison Library, Madison Park, Madison Pool, etc.

All I can say is hell yeah to anyone who moves his businesses downtown. And I think it is ASTOUNDINGLY SPLENDID that he is doing it to make money. Self interest might save Detroit yet.

Honestly, I think of some people in this city like heart patients. If Detroit received a life-saving heart transplant, there would be some who complain about the scar... I'm just glad to be alive.

**Danny** · January-17-13, 11:58 AM

BREAKING NEWS!!

DAN GILBERT BUYS DETROIT!

Now that's a headline as Gilberttown keeps on growing.

**gthomas** · January-17-13, 03:46 PM

Originally Posted by Danny

BREAKING NEWS!!

DAN GILBERT BUYS DETROIT!

Now that's a headline as Gilberttown keeps on growing.

Hahahahahahahaha!!!!

Too funny lol, I can only imagine! But sooo true lol!

**downtownguy** · January-16-13, 07:44 PM

Originally Posted by Bham1982

What has Gilbert done to "bail out" Detroit?

He bought a bunch of properties on the cheap, and financed with taxpayer dollars.

Now you have to pray that his companies never decline, because he's the only major landowner downtown.

Thanks for the buzz kill. However, no one else was buying this bunch of properties. Furthermore, he's not speculating as other are, he's putting new businesses and people in the buildings. He is no small player and it's just a matter of time before others will rush to get in on the action and Gilbert's portion will be diluted. Heck, he might even flip a few properties, and what would be so bad about that if it gets others in the game?

**Scottathew** · January-16-13, 07:51 PM

Originally Posted by Bham1982

What has Gilbert done to "bail out" Detroit?

He bought a bunch of properties on the cheap, and financed with taxpayer dollars.

Now you have to pray that his companies never decline, because he's the only major landowner downtown.

What's the number of jobs he's brought downtown? I think it's near 7,000 now.

He's buying the buildings, fixings them up, and putting jobs in them.

I'm not quite sure what more you want him to do.

**Gannon** · January-17-13, 04:14 AM

Originally Posted by 48091

What's the number of jobs he's brought downtown? I think it's near 7,000 now.

Gotta watch that jobs figure. Need to have it morph into jobs of his that STAY downtown, it seems for at least one level of employee...the HR door is revolving. They hire like the old-school used car emporiums...find twenty to fill four positions and let them kill themselves and each other and the integrity of the business to meet the cut. It is Lord-of-the-Flies-style hiring and ultimately employee abuse...but it DOES yield the successful sharks-of-sharks in the end...a refining process that produces producers, those who do so by any means necessary. Not unlike the gang at Enron and such, I'd guess...and the WORLD knows what happened to them.

So yeah, until he provides the actual number of seats filled by warm bodies NOT under some 90-day evaluation limit...I don't trust his employment figures. Having falsely-inflated large figures benefits ONLY him, so I'd expect him to fudge 'em!

Cheers

**downtownguy** · January-17-13, 02:33 PM

Originally Posted by Gannon

Gotta watch that jobs figure. Need to have it morph into jobs of his that STAY downtown,

Why? I moved downtown partially due to the excitement I felt working downtown. I long ago left that employer, but changing jobs several times since then has not changed my desire to keep living downtown. Heck, if the HR door is truly revolving, then that means more people exposed to downtown life. And whether they make their homes down here or not, it means more people with a realistic and hopefully fond experience of working and playing downtown.

**Artistic** · January-17-13, 07:59 AM

Originally Posted by Bham1982

What has Gilbert done to "bail out" Detroit?

He bought a bunch of properties on the cheap, and financed with taxpayer dollars.

Now you have to pray that his companies never decline, because he's the only major landowner downtown.

Peppering everything with negativity speaks volume of you. Very disappointing!

**Honky Tonk** · January-17-13, 08:33 AM

Originally Posted by Artistic

Peppering everything with negativity speaks volume of you. Very disappointing!

"When Life gives you lemons, make lemonade!!!"

**313WX** · January-17-13, 10:27 AM

Originally Posted by Artistic

Peppering everything with negativity speaks volume of you. Very disappointing!

Negative or not, it's the truth.

**bailey** · January-17-13, 11:25 AM

Originally Posted by 313WX

Negative or not, it's the truth.

but it's not the truth. Gilbert, unlike the slumlords that have held much of the distressed landmark property in Detroit for 30 years, is actually doing something with the buildings when he buys them "on the cheap". Look at his purchases, construction going on like crazy and people moving in. Look at the "Z" building going up.

Now, maybe it's all smoke and mirrors and the whole thing will come tumbling down... but you can't deny there is real brick and mortar improvements happening to long derelict or long struggling buildings and Gilbert is the one doing it.

**313WX** · January-17-13, 03:36 PM

Originally Posted by bailey

but it's not the truth. Gilbert, unlike the slumlords that have held much of the distressed landmark property in Detroit for 30 years, is actually doing something with the buildings when he buys them "on the cheap". Look at his purchases, construction going on like crazy and people moving in. Look at the "Z" building going up.

Now, maybe it's all smoke and mirrors and the whole thing will come tumbling down... but you can't deny there is real brick and mortar improvements happening to long derelict or long struggling buildings and Gilbert is the one doing it.

I didn't say things weren't improving, but he's pretty much on his own in all of his which his true [[and yes, he paying little/nothing for all of this).

If something were to happen to him or his ventures before the momentum can tip the point of self-sustainability, Gilbertown is screwed.

**southen** · January-17-13, 04:15 PM

Originally Posted by 313WX

I didn't say things weren't improving, but he's pretty much on his own in all of his which his true [[and yes, he paying little/nothing for all of this).

If something were to happen to him or his ventures before the momentum can tip the point of self-sustainability, Gilbertown is screwed.

penobscot was purchased and looks to be in ok hands, fort shelby was redeveloped, book cadillac, broderick tower, whitney building will soon be redeveloped and downtown residential occupancy is at an extremely high percentage. what is happening downtown may be dominated by gilbert but it definitely isnt all just him. there is a renewed interest in the city and i dont see that waning anytime soon, gilbert or not.