Posted on 08/01/2024 1:01:55 PM PDT by buckalfa
The Greenbrier Hotel, owned by Gov. Jim Justice and his family, has been announced for auction on the courthouse steps late this month because of default, according to a legal advertisement placed in Lewisburg’s West Virginia Daily News.
Justice gained goodwill and steps toward statewide name recognition when he bought The Greenbrier out of bankruptcy in spring of 2009. Justice, a two-term governor, is now a Republican nominee for U.S. Senate and is considered the frontrunner because of his broad name identification and West Virginia’s recent voting trends.
The foreclosure is on The Greenbrier Hotel Corp., which is represented by Justice family members and associates.
The Justice companies released a statement confirming the legal notice but disputing the motives. It was headlined, in all caps: “ANOTHER POLITICAL STUNT BY THE DEMOCRAT MACHINE.”
(Excerpt) Read more at wvmetronews.com ...
If he and his investors paid their debts, how could the property be thrown into bankruptcy? What’s politics got to do with stiffing creditors?
It might be a good place to have when the bombs start falling. Just make sure the Russians know that it’s not not where the political bigwigs will be hiding out any more.
we went there just to tour the shelter, it was very interesting.
Without the Congressional retainer, the hotel's business model was no longer viable.
oh my - their green tomato sandwiches...!!
I would be interested in your opinion. My understanding is that Greenbrier dates back to before the Civil War and is a 5-star resort with deep history.
Wouldn’t this be Trump’s kind of place to own?
Stayed there many years ago. Driving to the area just outside the place looked it like a good deal of poverty.
As a former lender and without more specifics, this action does not appear ordinary nor in good faith. Justice can simply file bankruptcy and stop the sale, probably what the Democrats would like to see happen.
I wonder if that catastrophic flood in 2016, covid, and the lack of PGA events in recent years did it in.
I believe the grounds on this hotel were designed to house politicians in case of nuclear war.
https://www.greenbrier.com/discover-more/about-us/history/
https://petergreenberg.com/2018/01/22/hotel-past-omni-homestead-resort/
The Greenbrier has history as laid out in the first link, but is likely more well known as the site of the cold war Congressional bunker.
The second link is to the nearby Homestead Resort which is actually older than the Greenbrier and has better claim to history.
Monroe County in WV has the remnants of Thomas Jefferson’s Sweet Springs Resort which sadly history has mostly forgotten
Not a damn thing but allows him to play the victimhood card in the press.
The business model of The Greenbrier has been flawed as it really has no claim to being a destination resort. Golf, falconary, and sporting clays in an Appalachian setting can't compete with the beaches of Florida. Justice added the casino but I don't think that made it a jet set destination.
I think Justice's financial problems are not so much about operational cash flow at the resort, but how the Governor utilizes debt. He uses leverage to the hilt. He refinances and refinances to the point his loans are underwater as to collateral.
The foreclosure is more about the banks wanting to force Justice to agree to the banks terms for repayment. I would be shocked if a settlement is not reached.
The cold war congressional bunker always seemed very strange to me.
Imagine a nuclear attack—say the Russians launch a missile headed at Washington DC.
How much time are we talking about until the nuke hits—even in those days?
Folks can correct me if I am wrong but couldn’t those missiles have been launched from subs in the Atlantic.
We are talking a half hour to impact? A little more? A little less?
If Congress was in session you would still have many members in their office buildings and offices, some walking around etc.
Somehow they are supposed to be herded into helicopters and flown to Greenbriar?
My guess is that most of the helicopters would never get off the ground.
That was a bad plan imho.
Thanks for the insight. I didn’t think about refinancing into a rising interest rate environment...
The bunker was likely obsolete before it was completed. A 1950’s cold work relic planned before the proliferation of ICBMs.
The link is to an article on how the bunker coexisted with the locals while maintaining a bit of secrecy. I knew of the Mr. Bugas and his Forsythe firm. I always wondered why The Greenbrier needed a 100 or so tv repairmen.
“1950’s cold work relic planned before the proliferation of ICBMs.”
That makes sense.
Supposedly there are currently shelter areas below the Congressional subway system—obviously the details would be classified.
There are also some claims that there is an entire deep underground rail system connecting military bases all over the US—under all fifty states.
Here is a podcast on that topic if you are interested:
https://podbay.fm/p/journey-to-truth/e/1699056000
We went during Covid and the SOB security guard was a “mask nazi”
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