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Thursday, April 16, 2009

Region's Largest Mall in Bankrupcty; Northridge Fashion Center not Closing--for Now

The Great Recession is pounding once-bustling malls across Southern California and the nation, moreover. Case in point, General Growth Properties, the nation's second largest mall owner/operator, has announced it is bankrupt. GPP is seeking Chapter 11 protection in U.S. Bankrupcty Court.

GPP's Northridge Fashion Center, the largest mall in northern Los Angeles County is assuring customers and tenants that, as general manager Danielle Gordon put it, "...the mall will be open today and tomorrow, and going forward."

What was interesting to me, however, was the fact that I did not ask Gordon if the mall was going to stay open. I only asked what impact there would be locally in the face of the parent company's Chapter 11 filing. In Chapter 11 bankruptcies, companies generally continue operating while they restructure their debt with the protection of the court from adverse actions by creditors. The $30 billion real estate investment trust is believed to owe more than $28 billion to its creditors.


Anonymous said...

This is sort of like that last scene from 'Lord of The Flies.'
The kids at the mall are trying to destroy themselves and in the process, the mall.They are in a community not on an island, yet you wouldn't know it on Friday night.
The mall is now being used as the best place in the San Fernando Valley to drop your kid of to get drugs and maybe prostitute your daughter.It is astounding the difference from this year to last year.
Maybe it was because of the recession that the parents can no longer afford babysitting and are just dropping off their children to be taken care of by the mall?
What goes on at the mall is related to the larger aspects of financing and G.G.P. in that once a mall is known as a 'Gang' mall it takes years to change it.The 'X' trade, as well as the new pill trade, is a great product for little Twelve year olds to use their parents cash on.Its cheap, does not smell and there is no ritual or process to it. You just pop it in your mouth.
The drug suppliers are in the mall itself as well as gang members.The gang members are there to make sure no one else is there and the drug dealers go back and forth. (Look at the dealers like the 'Rook' in chess and the gang members like the 'Knights.' The gang members can go up and down the mall but not outside to the left by the movie theaters without a lot of manipulation. It is sort of 'off limits' and looked at as the 'selling' area were the 'clients' are. The 'clients' are the 'Pawns' in chess and they are all the little rich kids.) The dealers are multi-ethnic and often very close in age to the kids they are selling to.There is not a lot of contact between the dealers and the gang members.
At this point is that there is a gang injunction against the C.P.A.(Canoga Park Alabama gang.)Now the local smaller gangs are trying to get in on the control of the mall and there are many fights. The Simi Valley Skinheads and C.P. Skins are now by Pacific theatres with grown adults beating up in little kids. The 'Asian boys' are making a play in the parking lots.
Its sort of like the Seven Years War were everybody wants to get into it for no apparent reason but inertia.In the end, things may look like they could be parceled off in that the Skins may have the Pac. Theatres Area. (Very lucrative.) The Asian Boys may have the parking lots,(car theft), Gelsons, and maybe the food court and C.P.A. will still have Sears and everything else in the mall but that would be stupid.
This great grab for power is really like the Seven Years War in that everything will get back to normal soon. Austria would be the Asian Boys, Prussia would be the Skinheads,lol and England would be C.P.A.(France would be the another Asian gang but I have not exactly figured it out yet.) Silenced in their support of Prussia, England had to wait it out wile it all went down but they gave periodic support to Prussia when it served them.(Pitt and Freideric, what a couple.)Anyway, C.P.A. is connected to La Emme or whatever so they will end up taking over and all these resources will be drained. Now with the economy and the injunction, smaller gangs will have to fight it out and thin their resources and bodies. C.P.A. will then benefit like England if they wait it out.
The solution. Get rid of the 'market' These kids are there without their parents and really to young. This would essentially take a group of parents to say,'no this cannot happen!' We will not allow you to use our children in your war.(It would be like taking away the draft for Frederic.)
There may be a numbing and of all the little 'pawns' that may give us what we have now in the years to come.Shortsighted, selfish and money grubbing parents.
We are hoping that the long process will not give us more of the same sort of drab and blind ethics that we have now. Every day you are high at the mall is a minute you could have spent with your parents learning. Oh yea, they are the ones that got us into this mess...

Anonymous said...

"Anonymous" above has been trolling lists and publishing these same rants everywhere -- Yelp, Yahoo, etc. -- about kids and drug use at the mall. It's an insane rant with no basis in fact.