Am I Right In This Analysis

Oh my goodness. Everything has changed dramatically for me when starting to write another Blog. You will notice that by the shorter length of this one and that I am only writing about one subject in it. To me, this is such an interesting issue to deal with.

I am trying to write the best that I can once more. I have to admit that I am really trying hard to think about what I should say when the temperature is so high. I probably should have a nice cool drink made, with lots of ice of course, and have it while I am dictating. That would make my task so much easier to do. Of course, that is not going to happen. I would be too concerned about spilling it all over my computer!

I have started writing this BLOG on a day when the temperature outside will reach into its mid-80° or even higher by the end of the day. Moreover, the humidity makes it seem even warmer than that. Oh yes, I do have an air-conditioning system in the condo unit but I have to admit that I rarely turn it on. It just seems that much cooler inside.

When my wife and I first moved down here about three years ago, I think we only turned on the A/C system a few times even though it was quite warm. That seems to have been the model we have followed subsequently and one we may follow again this year.

However, last year, I believe I turned on the system a little bit earlier and ran it on more days than before. Who knows, I might be following that model again soon if the temperatures stay so warm. I am surprised that the weather has gotten so hot so early on because I expected it to take a lot of time to do it this summer because winter started so late last year. I can remember that it seemed like an eternity before the leaves fell down from the trees last year and we had our first snow storm. 

Accordingly, I expected that the warmth would not hit here until much later than now. Well, Mother Nature has her own plans which she is now following. 

Whew, writing this introduction is quite difficult when it is this warm at this time of the year. I think that I had better stop dictating for now and just relax a bit. That cup of something cold just seems to make a lot more sense at this time.

There, I am finished relaxing. Now it is time for me to write that story. 

IS THE MOROUN ASSET REALLY SOLD NOW

There. That rest and the drink I had were very satisfying. They were both needed given the new situation that may, or may not, have taken place. Let me start that important story now.

Obviously, the biggest story for me at this time is whether the Morouns have sold their big asset, the Michigan Central Station, to someone else. Here is what I have just read:

"One of the Moroun family's real estate companies quietly transferred ownership of the Michigan Central Station to a mystery company last week as all signs point to Ford Motor Co. purchasing Detroit's long-vacant train station in Corktown.

A warranty deed dated May 22 was recorded May 23 by the Wayne County Register of Deeds, transferring ownership from the Moroun-owned MCS Crown Land Development Co. LLC to New Investment Properties I LLC, property records obtained by Crain's show.

On the same day, the Moroun company also transferred ownership of the former Detroit Public Schools book depository building next to the depot to a separate entity called New Investment Properties II LLC.

The deed records list the address for both New Investment Properties entities as the New York law firm Phillips Lytle LLP; there's no record to suggest the entity receiving the property is another Moroun-owned real estate holding company.” (Chad Livengood and Kirk Pinho, Crains Detroit, May 30, 2018)  

Duh, of course that has been done! What else can one say with this information also available in the story:

"A spokesman for the law firm did not have immediate comment Wednesday morning. Phillips Lytle has done legal work for Ford in the past, touting an award from Corporate Counsel magazine for its work on behalf of the company, among others.”

Clearly, what I believe is that some deal has made between the Morouns and Ford, probably a sale, even if not reported yet officially. 

To me what is interesting is, first of all, when will the official announcement be made that such a deal has been completed.

That day should be an interesting one considering who will be in attendance at that session. And who will not be invited to be there!

Of course, there are other interesting matters that need to be provided for which announcements have to be made. Here are just some of them that I have thought about:

1) seriously, is anything going on now or is this just another story that means nothing. That has happened before
2) has there really been a sale or has a different corporate structure been set up. If so, what is it
3) how much money will be involved if there is a sale, when will it be paid and to whom by whom?
4) do the Morouns still have an involvement in the property and its future or will they be out of it completely once a sale takes place
5) can Ford really afford to pay for this property or do they have some other partner involved? If so, who is it.

Do you see what I mean? Lots of interesting subjects that have to be dealt with if a some deal is really taking place.

This event, if there is a sale, really means that the Morouns will have some respectability now. It demonstrates that they are clearly capable of doing significant and important business these days involving various levels of governments and major corporations. 

Moreover, this is a very important transaction for Detroit. It has been the Moroun property for so long and they have kept it "alive." It will become a symbol I am sure of the big start of Detroit's future and its prosperity. Something else started in the auto industry!

To me, it also means that we ought to be seeing something happening very quickly with respect to the second Ambassador Bridge. Without knowing anything about it, I still suspect that the construction of the second bridge and how it is to be done had a bit of a role in completing the deal with the Michigan Central Station if, in fact, we see a deal going through. We will just have to wait and see.