Finally a bit of press coverage on something important to us. Unfortunately, Rolf Boone, the author, got it wrong at the end, as Capital Salvage, as we all know, is Barney's entity. RE Loans recently "won" the property back at auction, essentially recovering the note for no money down. Get an NG out, replace that NG with another NG. That's the theory here.
If, in months or years past, "the brewhouse was listed for $2 million and the two parking lots were listed for $1 million," then RE Loans (or Capital Salvage, if you will), isn't taking home a lot of cash, which means the WFF LOC isn't going to dwindle much, if at all due to this potential sale. Also, what's with the NG propaganda machine touting potential sales? It's all horse manure until there is something concrete to tell us.
After the article, in the comments section, my favorite newly found, highly informed commenter,
AnotherNgVictim, pops up again and points out the following rock-solid information:
"A bit more research would have shown that Capital Salvage, Inc., a California Corporation, is owned and managed by Barney Ng. (of Siena Hotel, Reno, NV infamy.) RE Loans, LLC, the entity which recently had the winning bid, is owned and managed by Walter and Kelly Ng, Barney's father and brother. All three of them have held 'ownership' of the property for some time through one corporation or another. They're the ones who loaned the original money to All American Bottled Water Company. The "cast of characters" is listed at
http://www.reloansllc.com/partners.htm
The list of corporations owned by these three is too long to post here. Be aware that with any sale of the Tumwater property, even if papers are signed and money has changed hands, the Ngs will still be involved, wheelin' and dealin', and that we poor saps who invested the better part of a billion dollars with them won't get one red cent of this or any other money."
Here's the link to the article:
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