Info needed on Silverstein and his win/loss

padragan

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Greetings

I seem to remember someone listing the economic aftermath of 911 for Larry Silverstein, but I have not been able to retrace it despite attempts with the search function. If the info is easy to find and I just messed up, sorry. Feel free to move this thread to some trashcan and put a funny hat on my head...

Anyway, I'm currently discussing 911 on the swedish board flashback as well with user socialbidraget (I've allready posted three of his quotes as stundie nominations and there's more coming...) and he claims that Larry made 861 million dollars when looking at costs vs insurance etc. (he forgot to subtract loss of rental income but hey, what is seven years of lost rents?). Does anyone have a nice list of the numbers, I want compare it to the numbers he's given.
 
I don't know where the posts are here in this forum, but "9/11 Myths" tackles the basics of this issue:

http://911myths.com/html/windfall.html

Quick excerpt:

9/11 Myths said:
As we write the insurance payments are not going to reach $7.1 billion. The current situation is $4.6 billion at a maximum, although this may be subject to change (up or down) as a result of court rulings.

And of course this isn't profit for Silverstein. The money is being provided for him to rebuild the WTC complex, and it turns out that's quite expensive ($6.3 billion in April 2006, see here).
$4.6 billion in insurance money, $6.3 billion in costs? Not such a great deal, then. What’s more, don’t imagine the insurance companies have handed over all of this money...
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Also, the $861 million was the insurance payment for WTC7. But he had something like $385 million debt in the form of bonds, and rebuild costs were $700 billion, so the insurance didn't even cover costs (which is where the Liberty Bonds came in). I don't have the sources to hand, but the last time I looked you could find them on the Wikipedia WTC7 page.
 
As I recall, the figures for WTC7 were;

Insurance payout: $861 million

Mortgage on WTC7: $323 million
Rebuilding costs: $700 million

Loss to Silverstein: $162 million, plus rents and legal fees

He may have had rent-loss coverage, but he lost in the nine figures on the building itself.
 
So how much money did Dylan Avery make? How much money did Alex Jones make? If Larry has to tell how much money did he make then Avery allso has to tell how much and how much did Avery or Jones donate to the 9/11 families.
 
moon1969 said:
So how much money did Dylan Avery make? How much money did Alex Jones make? If Larry has to tell how much money did he make then Avery allso has to tell how much and how much did Avery or Jones donate to the 9/11 families.
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I agree, that would be VERY interesting to see. And there's not a single piece of evidence that binds Silverstein to ANYTHING related to the attack, and yet he is seen by twoofers as Satan himself and a fair target. The guy was just in the wrong position at the wrong time.
 
Yes, it was just a coincidence he recently bought them and upgraded the insurance for terrorist attacks. Also , it was common knowledge the buildings were half occupied, needing significant repair and outdated.
Lucky him, right?
 
Tweeter said:
Yes, it was just a coincidence he recently bought them and upgraded the insurance for terrorist attacks. Also , it was common knowledge the buildings were half occupied, needing significant repair and outdated.
Lucky him, right?
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(Bolding mine)

Please give us credible evidence that the towers were half occupied when Silverstein leased them or retract this claim.

(For the record, that I picked this one claim doesn't imply that the others are correct or even sensible.)
 
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Tweeter said:
Yes, it was just a coincidence he recently bought them and upgraded the insurance for terrorist attacks. Also , it was common knowledge the buildings were half occupied, needing significant repair and outdated.
Lucky him, right?
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Where's the evidence that Silverstein "upgraded" the insurance to cover terrorism?

It's only "lucky" if you can demonstrate that he made a profit. Please, feel free to do so.
 
jhunter1163 said:
As I recall, the figures for WTC7 were;

Insurance payout: $861 million

Mortgage on WTC7: $323 million
Rebuilding costs: $700 million

Loss to Silverstein: $162 million, plus rents and legal fees

He may have had rent-loss coverage, but he lost in the nine figures on the building itself.
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Added to that was the cost to finish the floors, estimated at $12 million per floor:

The designers/architects who finished the space for the NYAS were on hand on Saturday. They explained that it cost $12 million to finish the 40th floor for the NYAS. In all, there are 42 floors of space to lease in the building. (along with the mechanical space used by Con Edison)
$12 million * 42 = $502 million.
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Adding to that, the new WTC7 isn't fully rented.
 
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You guys have only been debunking for 2 years. Its common knowledge. Look it up for yourself.
 
Tweeter said:
You guys have only been debunking for 2 years. Its common knowledge. Look it up for yourself.
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Look up what?

There are plenty of figures inb this thread pointing towards Larry making a great loss here. Feel free to point out what is not correct. I'd love to have as verified numbers as possible, so if you cad help out there I would be grateful, if you don't have any hard evidence to back you up please say so and retract that claim.

So, put your money where your mouth is tweeter.
 
Does Silverstein still own WTC7, or is he leasing it? I read somewhere that in renegotiating the 99 year lease deal, PANYNJ required ownership of WTC7, but Im not sure. Anyone can confirm or deny this?
 
Tweeter said:
You guys have only been debunking for 2 years. Its common knowledge. Look it up for yourself.
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Indeed it is. A simple forum search for posts by JonnyFive with keywords "Silverstein" and "insurance" turns up the thread:

Let's talk about insurance fraud!

http://www.internationalskeptics.com/forums/showthread.php?t=70904

which contains the classic quote in Miinadin's sig.

But Tweeter, since you're convinced of Silverstein's guilt already, please answer me this question: If Silverstein leased the Twin Towers knowing that they were to be demolished in a false flag attack on 9-11 and planning to get rich on the insurance payout, why did he:
(a) refuse to insure them for the $5 billion that the insurance company proposed;
(b) Propose an insured value of $1.5 billion on the grounds that the worst that could happen was that one tower would need major repairs and be unusable for a time as a result of a single terrorist attack;
(c) Settle eventually for an insured value of $3.5 billion, therefore cheating himself out of $1.5 billion that he could have been sure of collecting without arousing suspicion, and:
(d) Fail to complete the policy negotiations before the attack?

Dave
 
padragan said:
Look up what?

There are plenty of figures inb this thread pointing towards Larry making a great loss here. Feel free to point out what is not correct. I'd love to have as verified numbers as possible, so if you cad help out there I would be grateful, if you don't have any hard evidence to back you up please say so and retract that claim.

So, put your money where your mouth is tweeter.
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Padagran, if you would of cared to read this thread you would of noticed every member has different numbers relating to LS`s win/loss. Who`s right,who`s wrong?
If someone had to retract a statement everytime they didnt have "hard evidence", this forum would be a ghost town.
 
Tweeter said:
Padagran, if you would of cared to read this thread you would of noticed every member has different numbers relating to LS`s win/loss. Who`s right,who`s wrong?
If someone had to retract a statement everytime they didnt have "hard evidence", this forum would be a ghost town.
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Well, my limited experience in this forum is that most people take care to actually back up their claims, and especially when several claims have been made contradicting each other people tend to be interested in investigating the hard evidence. Now, this does not apply to the twoofers, but hey, feel free to prove me wrong. And yes, I'd expect any of the skeptics here to withdraw their claims if they couldn't back them up or if more accurate information would surface.

But, what you're saying is that you don't have any hard evidence but would like to throw in some general gossip?
 
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Tweeter said:
Padagran, if you would of cared to read this thread you would of noticed every member has different numbers relating to LS`s win/loss. Who`s right,who`s wrong?
If someone had to retract a statement everytime they didnt have "hard evidence", this forum would be a ghost town.
Click to expand...

In other words you have no sources and no figures?
 
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