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  #141  
Old Posted Dec 29, 2014, 6:51 PM
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i nuked it because i got sick of the trolling i had to cool it down as a result i should not have to explain this
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  #142  
Old Posted Jan 2, 2015, 4:10 PM
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^ I'm glad you finally posted it and clarified what actually happened to all..hopefully this puts all the conspiracy theories and trolling to rest, for a while anyway..
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  #143  
Old Posted Jan 2, 2015, 6:30 PM
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I don't think anybody - me in particular- was trolling Ben Myers. I can't speak for anybody else, but I was raising reasonable questions about the finance of the project in light of their missteps already and he holds himself out as their in-house development/housing analyst. That's his job. If he's uncomfortable because he couldn't answer the questions, then he should be. And since it appears that the companies' existing projects are already running into financial problems, it seems like a worthwhile line of questioning.

This is all notwithstanding that Ben Myers himself published a paper - a 'market report' - on Winnipeg that only 3 or 4 months later proved to be entirely incorrect because it ignored all of the variables that didn't confirm his existing bias. Which is fine; he works at a company that sustains itself by developing condo investments that rarely, but occasionally, materialize. But this is not somebody trolling some altruistic and objective housing economist. I'm simply asking the questions that others who don't understand these investments beyond a glossy rendering and promises of outsized returns won't or can't.

Last edited by Simplicity; Jan 5, 2015 at 5:12 PM. Reason: Missing words... whoops.
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  #144  
Old Posted Jan 5, 2015, 2:58 PM
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i nuked it because i got sick of the trolling i had to cool it down as a result i should not have to explain this
So Ben Myers or Fortress didn't threaten a lawsuit if the thread or certain posts weren't removed? I ask because Fortress threatened legal action against another prominent Canadian architectue/development forum where posters had exposed some of Jawad Rathore's illegal activities. I would assume this is a tactic they use regularly to try to bury information that would cause potential investors to turn away from Fortress.
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  #145  
Old Posted Jan 5, 2015, 3:00 PM
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^ Interesting.

I don't think there was any real trolling in the previous thread. There was a negative tone for sure, but based on what we've heard about the developers I don't think it was without good reason.
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  #146  
Old Posted Jan 5, 2015, 3:46 PM
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^ Interesting.

I don't think there was any real trolling in the previous thread. There was a negative tone for sure, but based on what we've heard about the developers I don't think it was without good reason.
I agree. There are plenty worse threads in this place.

(but I think 1ajs is doing a good job, he's a good guy)
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  #147  
Old Posted Jan 5, 2015, 10:08 PM
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fortress did no contacting of me and as far as i know nothings been said to ssp about the thread. please let it rest its a matter of being respectfull and not getting down each others throats guys.... its the same reason i shut down the origonal "Saskatchewan's Multi-Purpose Entertainment Facility" thread.................... witch got way more outa hand
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  #148  
Old Posted Jan 11, 2015, 2:30 AM
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Here's a funny ad I came across today. This is a job posting for FDS Brokerage, the guys that hit the street to raise money for Fortress. Let me ask you all now, are you interested in earning $125K annually with no education and only a 7 day training program!? Well, here's your opportunity to earn big rips on shady transactions in this completely unregulated field selling a product you can barely comprehend to those who can't at all! Have at 'er, y'all...

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  #149  
Old Posted Jan 12, 2015, 3:56 PM
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Originally Posted by Simplicity View Post
Here's a funny ad I came across today. This is a job posting for FDS Brokerage, the guys that hit the street to raise money for Fortress. Let me ask you all now, are you interested in earning $125K annually with no education and only a 7 day training program!? Well, here's your opportunity to earn big rips on shady transactions in this completely unregulated field selling a product you can barely comprehend to those who can't at all! Have at 'er, y'all...





"Invest like the banks"

The sad part is these guys are going to undoubedtly rip off millions of dollars from ignorant "investors". A fool and their money...
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  #150  
Old Posted Jan 13, 2015, 2:43 PM
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This thread is an embarrassment to Winnipeg. Not because of the building. But because of the nagging on here that reminds me of a bunch of 10 year olds with nothing better to do.

Spend some time getting out and finding some new stuff to post about on all the other things going on. When's the last update on convention center???. Exactly. You rather spend time digging up more crap on this building.
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  #151  
Old Posted Jan 14, 2015, 2:37 PM
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This thread is an embarrassment to Winnipeg. Not because of the building. But because of the nagging on here that reminds me of a bunch of 10 year olds with nothing better to do.

Spend some time getting out and finding some new stuff to post about on all the other things going on. When's the last update on convention center???. Exactly. You rather spend time digging up more crap on this building.
If you don't like this thread, you can choose not to view it. If you don't like particular users posts, you can block them. Obviously some of us here are enjoying the discussion. If you don't, why not just allow us to discuss and you can find some threads that you'd rather read? Believe it or not, the world does not revolve around you.
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  #152  
Old Posted Jan 14, 2015, 3:29 PM
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I think there's merit in discussing the developers and their comings and goings. When someone is proposing to build the tallest building in the cities history, and they're a bunch of slime balls, why not discuss?
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  #153  
Old Posted Jan 14, 2015, 4:14 PM
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its turned into a pissing contest of slander and is getting outa hand. yea they have back ground we all get it we will have to wait and see now what happens. this thread is not some annomis forum in a dark corner of the internet either, lots of people read this site and thread and at times this thread has turned into the comments section of the wfp.........
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  #154  
Old Posted Jan 14, 2015, 4:18 PM
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its turned into a pissing contest of slander
You really should look up the definition of slander. If it is the truth, it is not slander.
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  #155  
Old Posted Jan 14, 2015, 4:44 PM
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You really should look up the definition of slander. If it is the truth, it is not slander.
It's also called libel in a forum like this.

But the idea that breaking down the untenable financial prospectus of the development is somehow the equivalent of the knee-jerk populism on the Free Press site? Not even close. If those investments are so solid, the ratings agencies wouldn't be tagging them at the far end of the risk spectrum. They're junk - by definition.

If people come across this forum and see a reasonable breakdown of what they might be getting into beyond just an 8% ROR that definitely isn't being relayed by the snake-oil salesman educated and ready to sell in just seven days , then that's fantastic. And if even one of those people takes something they learn here and uses it to ask the shady guy at their kitchen table how what he's saying could be true, then this forum works.

If their product is so great, it'll have no problem standing up in the face of some anonymous commentary in an internet forum. But it won't, because it's junk - by definition.
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  #156  
Old Posted Jan 14, 2015, 5:50 PM
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I think their reputation precedes them. If you're in the industry living in the GTA, you know who these guys are and what they've done.
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  #157  
Old Posted Jan 14, 2015, 7:52 PM
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Lots of questions

Quote:
Originally Posted by Bluenote View Post
This thread is an embarrassment to Winnipeg. Not because of the building. But because of the nagging on here that reminds me of a bunch of 10 year olds with nothing better to do.

Spend some time getting out and finding some new stuff to post about on all the other things going on. When's the last update on convention center???. Exactly. You rather spend time digging up more crap on this building.
My feelings exactly.

I feel bad for Simplicity and Dear Summer, this is what you do in your spare time? Seriously! There is actually a lot of good programs on TV right now!

I really don't see why you care if some investor from Ontario loses his money? It's not your money. Regardless if they understand the improbability of this project or not or were influenced by slick marketing, no one put a gun to their head. Investor beware. This thread should be dedicated to Sky City Winnipeg, start another thread to bag on Fortress.

Let's face the facts, Winnipeg doesn't have a big market for pre-sale condos, not a lot of people live or want to live downtown, and its almost a certainty that the condos will be priced above Urban Capital and Sandhu, there is a lot of risk there. They were supposed to announce a grocer and launch sales in 2014 and that didn't happen, so it obviously is taking longer to put their ducks in a row, perhaps it has to do with the addition of the St Regis, maybe there is issues with the planning department, maybe they are going to do rental instead, or add a hotel component, negotiating more city incentives, all worthy things to discuss. Will people buy this project?

I'm an optimist, so I like to go a different direction and look at how it might work as opposed to the reasons it won't.

Just again to be devil's advocate, why if Fortress is "Snake-oil" salesmen, why would reputable developers like Cityzen, Fernbrook, Empire, Sierra partner with them? I'm being serious in this question.

I came across this website and you can search how many houses and condos each developer has built: http://www.tarion.com/_layouts/build...er_search.aspx

Their partners look like some pretty serious guys?
These developers only care that they get money, not where it came from?
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  #158  
Old Posted Jan 14, 2015, 7:56 PM
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I really hope these jokers put something up on that lot. Some kind of shelter from the wind would be a start.
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  #159  
Old Posted Jan 14, 2015, 10:05 PM
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Originally Posted by Twoscents View Post
They were supposed to announce a grocer and launch sales in 2014 and that didn't happen
The grocery seemed like a long shot even before the acquisition of Safeway by Sobey's became public. When the plan was originally announced there were three main grocery retailers in Winnipeg, now there are two. It always seemed like Sobey's was the company they were talking with however they are likely spending the next year or two dealing with the Safeway merger before making any moves like this one. I would expect there are a couple more rounds of store closures to come before they start seriously looking for new locations. Perhaps Loblaws will step forward with some plan. The location would seem to be ideal for a replacement of the Winnipeg Square Shoppers with a significantly beefed up food section. This could even been a prototype or lead store for a new urban format.
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  #160  
Old Posted Jan 15, 2015, 10:10 PM
DearSummer DearSummer is offline
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Originally Posted by Twoscents View Post
My feelings exactly.

I feel bad for Simplicity and Dear Summer, this is what you do in your spare time? Seriously! There is actually a lot of good programs on TV right now!

I really don't see why you care if some investor from Ontario loses his money? It's not your money. Regardless if they understand the improbability of this project or not or were influenced by slick marketing, no one put a gun to their head. Investor beware. This thread should be dedicated to Sky City Winnipeg, start another thread to bag on Fortress.

Let's face the facts, Winnipeg doesn't have a big market for pre-sale condos, not a lot of people live or want to live downtown, and its almost a certainty that the condos will be priced above Urban Capital and Sandhu, there is a lot of risk there. They were supposed to announce a grocer and launch sales in 2014 and that didn't happen, so it obviously is taking longer to put their ducks in a row, perhaps it has to do with the addition of the St Regis, maybe there is issues with the planning department, maybe they are going to do rental instead, or add a hotel component, negotiating more city incentives, all worthy things to discuss. Will people buy this project?

I'm an optimist, so I like to go a different direction and look at how it might work as opposed to the reasons it won't.

Just again to be devil's advocate, why if Fortress is "Snake-oil" salesmen, why would reputable developers like Cityzen, Fernbrook, Empire, Sierra partner with them? I'm being serious in this question.

I came across this website and you can search how many houses and condos each developer has built: http://www.tarion.com/_layouts/build...er_search.aspx

Their partners look like some pretty serious guys?
These developers only care that they get money, not where it came from?
Why would the developer care if Fortress rips off investors? It's probably not even on their radar. They aren't responsible for determining how Fortress got the money. When a bank lends you money do you ask them where they got it? Would you refuse to take out a mortgage with RBC if you read an article about them selling junk investments to unsophisticated investors through high-pressure sales tactics?
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