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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: Celtictrader who wrote (65365)5/22/2009 9:29:37 PM
From: loantech  Read Replies (1) of 78408
 
I was not sure because of articles like this:

JAPANESE SCRAP $2 BILLION STAKE IN ROCKEFELLER
By STEPHANIE STROM
Published: Tuesday, September 12, 1995
The Mitsubishi Estate Company of Japan plans to walk away from its almost $2 billion investment in Rockefeller Center, the Hope diamond of world real estate.

Mitsubishi proposed yesterday afternoon that it pass ownership of the Manhattan property to Rockefeller Center Properties Inc., the publicly traded real estate investment trust that holds the $1.3 billion mortgage on the center, according to advisers involved in the negotiations to bring Rockefeller Center out of bankruptcy protection.

Mitsubishi's sudden decision to exit Rockefeller Center is the most striking in a string of recent retreats from the trophy properties stretching from New York to Honolulu that Japanese companies acquired during a real estate binge in the 1980's.

Mitsubishi's proposal, submitted to the real estate trust's management, would also apparently sever the remaining ties between the center and the Rockefeller family, which has a 20 percent stake in the property. In the spring, David Rockefeller Sr., the head of the Rockefeller clan, fought hard to keep the center -- and the family name -- out of bankruptcy protection, flying to Tokyo to make a last-ditch appeal to Mitsubishi executives.

nytimes.com
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