It is not just tribal members and employees of Greektown who ask the question: How did the Sault Tribe's Greektown Goldmine go bust? The answer to that lies heavily not with 'how?' but 'why?'.A surprising, inside source has revealed the chronological events that led up to the sinking of Greektown. Thousands of hours were invested in a lengthy and laborious 2 year process that could have kept Greektown in the hands of it's rightful owners,the Sault Tribe of Chippewa Indians, and those who suffered the most over the loss...Sault Tribe members. Using the words of the source, "it was a trip down the Rabbit's Hole to Alice in Wonderland."
The investors were in place with the question being "how much does the tribe need to get Greektown out of debt?" The answer received to that question had more responses than a TV game show with none of them being the same answer twice. "All over the map" were the descriptive words used to define the response from McCoy, who couldn't even be clear and precise in such dire times, with one minute the need being $55 million, and the next, the 'price' jumping to $750 million.
Chairman McCoy and a handful of directors (count them on one hand plus 1 or 2?) sat on their haunches while a team of hired professionals, who specialize in locating the 'gold' by smoozing with big capital sources, worked diligently to present a "very, very attractive offer for the tribe." According to the source, "Everything was upfront, legal, on the table...nothing under...."
Instead of moving towards a resolution to save Greektown, McCoy and his team blew through an estimated $75 million for lawyers and bankruptcy costs and lost Greektown because they could never get their brains in formation enough to formulate a plan.
They blew it! The tribe's cash cow, that began making money hand over fist once the tribal authorities were removed from access to any decision making, now belongs to someone else. Tribal members lost jobs, our elders lost much in the way of healthcare and all members lost benefits due to the incompetence of those who could have saved our cash cow from being slaughtered.
So the question remains of not 'how' but 'WHY?'. That answer may someday be answered. Greektown is lost to the Sault Tribe but somebody, or several somebodies, won. WHO...and HOW MUCH?
3 comments:
It is time for all the remaining incumbents to be booted in the next election, especially the long term do nothings like Cathy Abramson.
Looks like Freddie is blowing the whistle.
Makes me wonder which of the unelected directors is shooting off their mouths too little too late.If they knew something like the truth they should have spoke up while in office.we had a right to know and they had no right to keep negotiations from us. Most are just a bunch of uneducated idiots so where they think they now better then us is just arrogance. all of them are at fault for keeping us in the dark. get rid of all of them. either open your mouths and talk to the members or get out.
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