Sault Ste. Marie, Mi...Before a ceremonial shovel broke the ground, the Sault Tribe owed $ 268,000,000.00 on Greektown. The Greeks sold their half to the tribe for that amount, after failing to get licensed by the state.
In doing so, these Detroit businessmen turned a paltry $24,000.00 investment into hundreds of millions of dollars.Thanks to tribal chairman and head negotiator, Boushour, they had previously acquired a half interest in it for that measly amount.
Operating on thin profit margins and burdened with staggering debt (from the get-go) and vulnerable to economic downswings, the end came to the misconceived, pie in the sky, diamond in the rough, ner'do-well casino in 2009.
With director and former tribal chairman Bouchor at his side, Joe McCoy, the current tribal chairmen threw an extra $42,000,000.00 at the problem and came up short again..depleting all of the tribe's cash reserves.
According to director Miller of Manistigue, the tribe has failed to even make a legitimate effort to retain the casino during the McCoy Administration.
Now there's an ear-full...
Thank you, Charles Forgrave
In doing so, these Detroit businessmen turned a paltry $24,000.00 investment into hundreds of millions of dollars.Thanks to tribal chairman and head negotiator, Boushour, they had previously acquired a half interest in it for that measly amount.
Operating on thin profit margins and burdened with staggering debt (from the get-go) and vulnerable to economic downswings, the end came to the misconceived, pie in the sky, diamond in the rough, ner'do-well casino in 2009.
With director and former tribal chairman Bouchor at his side, Joe McCoy, the current tribal chairmen threw an extra $42,000,000.00 at the problem and came up short again..depleting all of the tribe's cash reserves.
According to director Miller of Manistigue, the tribe has failed to even make a legitimate effort to retain the casino during the McCoy Administration.
Now there's an ear-full...
Thank you, Charles Forgrave
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