General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsOh joy Diane Feinstein's husband behind selling off of Historic Post Offices in CA
http://www.savethepostoffice.com/eureka-postal-service-finds-gold-california* And by the way the selling off of historic WPA Post Offices 2,200 of them was initiated by Reagan
--snip
The Postal Service and CBRE soon set up a website advertising many of the USPS properties for sale. But overall, the company seems to be taking a low profile. Some properties have been put up for sale without appearing on the website, and CBRE rarely gets mentioned in news articles about pending or completed sales.
The California connection is that CBRE is headquartered in Los Angeles, and the Chairman of the Board is Richard C. Blum a native of San Francisco, a graduate of UC-Berkeley, and a Regent of the University of California. He also happens to be the husband of California Senator Dianne Feinstein.
Mr. Blum has been on the board of CBRE since 1993, and he's been Chair since 2011. In 2001, Mr. Blum's company, Blum Capital Partners, an equity investment management firm, did a leveraged buyout of CBRE for $800 million. In other words, Mr. Blum basically owns and runs CBRE.
The Blum-Feinstein relationship has received scrutiny because of Mr. Blums government contracts as well as his dealings with China, which raise conflict-of-interest issues with his wifes official duties. For example, in 2009 the senator introduced legislation to provide $25 billion in taxpayer money to the Federal Deposit Insurance Corp, a government agency that had recently awarded CBRE a contract to sell foreclosed properties. Citizens for Responsibility and Ethics in Washington (CREW) urged the Inspector General of the FDIC to investigate the CBRE contract, but apparently that didnt happen. (More on the web of connections, here and here, and more allegations, here.)
abelenkpe
(9,933 posts)I just emailed her in the hope that she would support the post office.
The post office near my old work has been sitting empty for years. Nice property near the beach. Totally overrun with weeds now.
flamingdem
(39,313 posts)There is something hinky going on with those sales. I think that some pressure has happened to preserve at least some of them. Or I'm dreaming. I will write her as well.
lonestarnot
(77,097 posts)She's no differently positioned than idiot Clarence Thomas. They're apparently allowed conflict of interest operations.
flamingdem
(39,313 posts)Something very questionable about his involvement and her position. She should be against selling off those historic buildings and against loss of jobs at the PO!
grrrr ville
lonestarnot
(77,097 posts)flamingdem
(39,313 posts)Angered by the proposed sale of their historic Downtown Post Office, citizens of Berkeley, California are going to San Francisco on Tuesday, December 4th. They have two demands. The first is that investment bankers stop profiteering from the sale of public property assigned to the Postal Service. And the second demand is that Congress stop bleeding the Postal Service dry.
Led by Citizens to Save the Berkeley Post Office, community members will assemble at 11:30 a.m. for a rally at 909 Montgomery in front of the offices of Blum Capital Partners. Blum Capital is a private equity firm founded in 1976 by Richard Blum, a current regent of the University of California. Commercial real estate giant Coldwell Banker Richard Ellis (CBRE) is among the many investments of Blum Capital. In fact the Chairman of CBRE is Richard Blum.
Poster: Citizens to Save the Berkeley Post Office
"The hand of Richard Blum" Graphic by Sances & Hazelwood
The Postal Service is eager to sell properties in their control to raise quick cash. CBRE advises the USPS on what properties to sell. The properties are advertised on a joint CBRE/ USPS website and as a general rule CBRE profits again as the listing agent.
After the rally in front of Blum Capital, the marchers intend to proceed down Montgomery Street to One Post Street, the office of California Senator Dianne Feinstein. Senator Feinstein's husband is Richard Blum.
Newspaper headlines read "The Post Office is Going Broke". Truth: The Postal Service is being bled dry by a law passed in the 2006 lame duck session of Congress.
lonestarnot
(77,097 posts)flamingdem
(39,313 posts)when it's federal property. What a Catch 22. Screwn
HiPointDem
(20,729 posts)HiPointDem
(20,729 posts)and will likely be transferred to private hands below cost.
flamingdem
(39,313 posts)So disgusting that Blum is behind this grrrrrr
HiPointDem
(20,729 posts)against some low-level schmuck, usually one trying to do something decent.
hughee99
(16,113 posts)while she sat on the defense appropriations committee.
HiPointDem
(20,729 posts)hughee99
(16,113 posts)dreamnightwind
(4,775 posts)These two are not our friends. Great OP!
I have never heard Richard Blum's name without the prefix of "war profiteer". I don't know what that's all about, but I've seen more than enough of his wife over the years, a big-money DINO. California deserves better.
It's a shame we can never mount a serious primary against a powerful senator like Feinstein. It would be a worthwhile fight.
flamingdem
(39,313 posts)I am very pissed off about this and will let her know!
When is she retiring!?
HiPointDem
(20,729 posts)for the REAL ESTATE and the assets.
shades of the russian oligarchs.
flamingdem
(39,313 posts)He started this push as detailed in a post on the saveourpostoffice.com site.
Always reagan.
Egalitarian Thug
(12,448 posts)There are not that many professions where one can expect a 40 year lucky streak that can propel an upper-middle class housewife to a personal fortune in excess of $70M, and a spouse that can successfully avoid several federal investigations for mind-bogglingly lucky foreign investments, particularly when one's primary wealth comes from government contracts.
Truly, their story is a tribute to the wonder that is the American system.
Tom Ripley
(4,945 posts)appal_jack
(3,813 posts)Left Coast2020
(2,397 posts)Lets see, war, the surveillance issue, ahh, more $$$ for war, allowing wire-tapping to take place from a switching station in San Francisco, uhhh, should I continue?
She should have been voted out long ago.
Di-Fi is a fake. Fuck her.
slackmaster
(60,567 posts)flamingdem
(39,313 posts)I avoid hearing about her
slackmaster
(60,567 posts)Or potato.
flamingdem
(39,313 posts)wanking off.
slackmaster
(60,567 posts)awoke_in_2003
(34,582 posts)voted against filibuster reform. Suprprise, surprise, surprise (not)
Raine
(30,540 posts)no way can I vote for that crook.
robinlynne
(15,481 posts)I voted for her when she ran in the special election in 1992 (that was the very first election I ever participated in). Haven't voted for her since. That box stays blank.
Feinstein's political power came out of the same cabal that put Willie Brown in charge of California politics for so many years. Willie Brown was implicated not-so-long ago as being one of the string-pullers that put Arnold into office. There is no ideological or party loyalty with these people...it's all about power and money.
This is one of the reasons that I also dislike Gavin Newsom. He's Willie Brown's protege and has too many connections into Feinsteins political network.