Wednesday, November 6, 2013

Packard Plant Bidder is not Houdini"

Like watching a magic show, we keep waiting for Packard Plant bidder William Hults to make $2 million suddenly appear out of thin air.  We been watching this trick for months now, and Hults still hasn't pulled if off.

Developer Bill Hults at the Packard Plant in Detroit.
"The check is in the mail!"

To the shock of no one with a clue, Hults did not make yesterday's postponed deadline after he missed the deadline to come up with another $300,000 to follow his $100,000 that he did actually pony up late after the deadline for that last Friday.  The next $300 large was going to be a deposit so that he could have until next Monday to come up with the rest of the money.  Since we're already to Wednesday, anyone silly enough to think that he will come up with the whole amount by Monday?

What probably happened is that Hults is using his accepted bid to try to raise the money after the fact.  Apparently he got the first $100k from someone who will regret it pretty soon.  But the rest of the money is not happening.

Calling Peru.  Mr. Paluzeulo, please put your seat in a full upright position, as the plane will be taking off for Detroit soon.