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Invest in Toledo, OH ? (Chinese like it)

 
Geologic
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06/24/2012 02:05 AM
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Invest in Toledo, OH ? (Chinese like it)
Invest in Toledo, Ohio ?
The Chinese seem to like its potential
=======================

City Image:
[link to toledohousehunters.com]

Will Toledo, Ohio Be The First Major American City To Be Owned By China?

It has been said that there are two ways to conquer and enslave a nation. One way is by using the sword, and the other is by using debt. Fortunately, America is not in danger of being conquered by the sword right now, but America is being conquered by debt. The borrower is the servant of the lender, and today we owe China more than a trillion dollars. By running a gigantic trade deficit with us, China has been able to become incredibly wealthy. We have begged them to lend us back some of the money that we have sent them and this has made them even wealthier. Now China is gobbling up U.S. real estate and U.S. assets at an astounding pace. In fact, some cities are in danger of becoming completely dominated by Chinese ownership. One of those cities is Toledo, Ohio. In many "rust belt" areas, real estate can be had for a song, and the Chinese are taking full advantage of this. America was once the wealthiest nation on earth, but now we are drowning in debt and we are being sold off in chunks to the highest bidder. Is this the legacy that we are going to leave for future generations?

According to a recent Fortune article, Chinese investors have been very busy purchasing distressed commercial real estate in Toledo lately....

In March 2011, Chinese investors paid $2.15 million cash for a restaurant complex on the Maumee River in Toledo, Ohio. Soon they put down another $3.8 million on 69 acres of newly decontaminated land in the city's Marina District, promising to invest $200 million in a new residential-commercial development. That September, another Chinese firm spent $3 million for an aging hotel across a nearby bridge with a view of the minor league ballpark.

Toledo is being promoted to Chinese investors as a "5-star logistics region". From Toledo it is very easy to get to Chicago, Detroit, Cleveland, Pittsburgh, Columbus and Indianapolis.

With a population of 287,000, Toledo is only the fourth largest city in Ohio, but it lies at the junction of two important highways -- I-75 and I-80/90. "My vision is to make Toledo a true international city," Toledo's Mayor Mike Bell told the Toledo Blade.
For some reason the Chinese seem to be very interested in that area of the country


/more: [link to theeconomiccollapseblog.com]

=== ===

MY REACTION:

Er, ah... So what?

The 1% who own it now, seem not to have done a very good job.
So long as the Chinese invetsors pay market prices, and respect the laws, they are welcome to invest

Last Edited by Geologic on 06/24/2012 07:21 AM
Geologic (OP)

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06/24/2012 02:06 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
I AM FED UP, and think it is TIME FOR TRUTH-TELLING !

(From the same article):

So why do we allow China to keep doing this to us?

...China is continually getting wealthier and we are continually getting poorer.

All of the money that is leaving this country and going to China could be going to U.S. businesses and U.S. workers instead. In turn, those businesses and workers would pay taxes on that money to support the government.

Instead, we have to go beg China to lend us the money that we just sent to them. At this point, China now holds approximately 1.17 trillion dollars of U.S. government debt. None of this ever had to happen.

=== === ===

Exactly. It did not need to happen.

Americans need to wake up and understand why they are getting poorer - Most of the reasons are their own fault, or the fault of their politicians:

1/ The US spends twice as much per capita on its military - but Americans are no safer than the rest of the world

2/ The US spends twice as much per capita on its health care - but Americans are no healthier than the rest of the world. Their life expectancy is almost #50 in the world, and is below Puerto Rico

3/ The average American spends almost US$10,000 per annum on a car, commuting from homes, 50% of which are in wasteful American suburbs

4/ The American financial services sector has become predatory, and "bought" huge influence amongst politicians. This is thanks to an out-of-control system for financing political campaigns

Try attacking the real enemies, who are living happily within America, rather than the Chinese

Last Edited by Geologic on 06/24/2012 02:06 AM
Weapon X Jacobs

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06/24/2012 02:11 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Yeah our mayor sold us out....but don't worry...I'm here in Toledo. And I will save the day.

I'm starring in this movie we're filming here in Toledo in my home town....its called "Martial Vengeance" and it only scratches the surface....



and as the Great Nephew of Danny Thomas...I will make sure some money goes to the St. Judes childrens research hospital. China will not take over. We will have Martial Vengeance.
youtube.com/wolfmanjacobs (if you want to see me spinning backfist someone)
Anonymous Coward
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06/24/2012 03:04 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
In what way did he "sell you out"?

Surely more investment by the Chinese is bound to generate more jobs, and more future investment opportunities.
Anonymous Coward
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06/24/2012 03:10 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Thread: Toledo, OH May Be The First U.S. City To Be Owned By China
Toledo-Historian
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06/24/2012 04:08 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
20th Century to present

Toledo continued to expand in population and industry into the early 20th century, but because of a dependency on manufacturing, the city was hit hard by the Great Depression. Many large scale WPA projects were constructed to reemploy citizens in the 1930s. Some of these include the amphitheater and aquarium at the Toledo Zoo and a major expansion to the Toledo Museum of Art.

The city rebounded, but the slump of American manufacturing in the second half of the 20th century, along with the nationwide epidemic of white flight from cities to suburbs, led to a depressed city by the time of the 1980s national recession. The destruction of many buildings downtown, along with several failed business ventures in housing in the core, led to a reverse city-suburb wealth problem common in small cities with land to spare.

In recent years, downtown Toledo has undergone significant redevelopment to draw residents back to the city. Fifth Third Field opened in 2002, and the Huntington Center opened in 2009. The riverfront area adjacent to International Park has been upgraded with walking trails, landscaping and several restaurants have opened nearby.

+wiki: [link to en.wikipedia.org]
Geologic (OP)

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06/24/2012 04:49 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
I sounds like they need investment, and Mike Bell has managed to bring some investors over from China:

+ Docks, in the Marina district
+ Park Inn Hotel, for $3 million

The Mayor expresses his enthusiasm over results thus far



Last Edited by Geologic on 06/24/2012 04:51 AM
Anonymous Coward
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06/24/2012 04:57 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Lots of people who'll work for $2.25 an hour, soon.

Uniforms issued free
Geologic (OP)

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06/24/2012 05:42 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Many American people were rather foolish and reckless in recent years - that is easy to see in hindsight:

+ They speculated on over-priced properties (in the suburbs)

+ They spent more than they were making, and took on expensive credit

+ They assumed that they jobs that they had in boomtime industries, or working for the government, were secure

+ They voted for politicians that told them what they wanted to hear, rather than hard truths

+ When things went wrong, they looked for people to blame for their plight, instead of considering what they could do themselves to fix the mess

You add up enough mistakes, both an individual and his community can get into financial difficulties. Only by facing the facts, and taking genuinely positive steps, can they get out of trouble.

Of course, a weaker dollar, lower salaries, and increased global competitiveness will help. But its should be obvious now that the Complacency and High Spending of a decade ago were wholly unjustified. Some of us warned this at the time, and took protective actions. But few were willing to listen, and they are now suffering the (predictable) consequences.

I know that few people like to hear "I told you so," but arent't there some lessons from the past that people should take on board? They will also benefit from CLARITY of thinking, as they plan their futures.

Last Edited by Geologic on 06/24/2012 07:34 AM
Anonymous Coward
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06/24/2012 06:05 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Like Japs in 1990s , this will be the Chinks' turn to be burned. Yanks will eventually win.


[link to www.nytimes.com]
Geologic (OP)

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06/24/2012 06:12 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Like Japs in 1990s , this will be the Chinks' turn to be burned. Yanks will eventually win.
 Quoting: Anonymous Coward 14218599


Why would you think that?

I live in Hong Kong, and what I see here is that Chinese just go on winning.

+ They are smart, and well-educated
+ They are disciplined and work hard, & play little
+ They don't demand handouts from the govt, to the same degree that citizens of Western countries do
+ They are little distracted by frivolities

The West still has an advantage in creativity and inventiveness, but it is getting "wasted" on many frivilous activties, and I would include Facebook and its copycats in that category
Anonymous Coward
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06/24/2012 06:16 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
China is being sold as our financial saviours. We basically capitulate to them. China is going to HELP US...lol lol! da sheep gonna love it.
Geologic (OP)

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06/24/2012 07:10 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
China is being sold as our financial saviours. We basically capitulate to them. China is going to HELP US...lol lol! da sheep gonna love it.
 Quoting: Anonymous Coward 14914603


Be not afraid !
The old boss was sometimes good, sometimes a bastard.


Meet the new boss... Different language from the old boss.
Be aware of what you are doing, and you can avoid "getting fooled."

If you don't like working for them, then do business with them.

Be willing to learn something of their language and customs, and you will do well. They can write big cheques. Why fear that? A customer with deep pockets is far better than none at all ! Or worse yet, no one to sell to but a deadbeat US government.

Last Edited by Geologic on 06/24/2012 07:20 AM
Kcast-Follower (OP)
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07/01/2012 07:41 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Resettling America : GenX (NextGen) response to Suburbs
Gorilla urbanism may build a real future
====
I found this podcast heartening.
KunstlerCast 209: NextGen New Urbanists
MP3 : [link to media.libsyn.com]

The optimism and energy of youth is infectuous. These folks are willing to take action to rebuild their neighborhoods and cities. And they are not waiting for a government to come from far away to fix things for them.

Claudia Hansen, ex DPZ, spoke of the 8-point Strategy of NextGen, and how it provided a Roadmap for 30 young people to create "gorilla action" over the next 10 years. (20 slides, 20 seconds each). The big theme is: Resettle America - save the places that can be saved, and let some others (suburbs that cannot survive) go. Some cities, like Detroit, still have great buildings and are worth saving.

XX, who worked for a Washington DC architect, sees biggest oppoortunties in 2nd and 3rd tier cities, where meaningful changes can be made fast.

Some of the smaller cities and talks they spoke about resettling were:

+ Braddock PA, 10 miles from Pittsburg, with only 2,000 of 20,000 people left - still has a steel plant
+ Fall River MA
+ Duncan's Troy NY?

Features of these places: A do-things Mayor, existing infrastructure
The team is putting time in on a voluntary basis

Tactical Urbanism, where useful changes can be made quickly and easily. (example: Chair bombing )

Scott Douglas, whose family owns property in Fall River MA. To make a place which is "Long-Emergency-ready," by doing things like bringing industry back to life using windpower. He wants to restore large mill buildings, which can be sued as Condos, or office buildings. "Old buildings are the future."
Anonymous Coward
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09/12/2012 09:26 AM
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Re: Invest in Toledo, OH ? (Chinese like it)
Michigan town near Ohio could become ‘China City’.

415-unit housing complex would be home to Chinese business people.

[link to www.springfieldnewssun.com]
[link to www.springfieldnewssun.com]
and
Thread: Real reason for China's ghost cities?

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