Comments on: GM buys Renaissance Center headquarters for $626 million http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html Car news, reviews, and specs for the auto-industry Sun, 08 Nov 2009 19:37:49 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: AMGoff http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380410 AMGoff Mon, 12 May 2008 18:17:38 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380410 This makes perfect sense for GM... the market is down and plus, we have no idea how much GM has been paying to lease the whole place, I'm guessing it's a pretty hefty piece of coin. I think it's pretty fair to say that if their bean counters said it was more financially prudent to keep renting the place, they'd still be renting the place. This makes perfect sense for GM… the market is down and plus, we have no idea how much GM has been paying to lease the whole place, I’m guessing it’s a pretty hefty piece of coin. I think it’s pretty fair to say that if their bean counters said it was more financially prudent to keep renting the place, they’d still be renting the place.

]]> By: injunraiv http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380371 injunraiv Mon, 12 May 2008 16:42:41 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380371 "Honda buildings are better…" Holy hell, now there's TWO of 'em!!!! “Honda buildings are better…”

Holy hell, now there’s TWO of ‘em!!!!

]]> By: 400horseSS http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380363 400horseSS Mon, 12 May 2008 16:17:07 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380363 $626 Mil hmmmmmmmmmmm, and buy down workers pay hmmmmmmmm. $626 Mil hmmmmmmmmmmm, and buy down workers pay hmmmmmmmm.

]]> By: shaver http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380351 shaver Mon, 12 May 2008 15:16:44 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380351 Rumor has it they are goiing to lease the parking garages to Toyota to help them store their extra inventory. Rumor has it they are goiing to lease the parking garages to Toyota to help them store their extra inventory.

]]> By: xyunya http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380328 xyunya Mon, 12 May 2008 13:25:10 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380328 johnnycanuck, the bonehead who orchestrated this move is probably got promoted on account that he screwed and learned from it. At least that is how it works in US corporation. johnnycanuck, the bonehead who orchestrated this move is probably got promoted on account that he screwed and learned from it. At least that is how it works in US corporation.

]]> By: xyunya http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380325 xyunya Mon, 12 May 2008 13:24:02 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380325 I tend to agree with sharpie. Unless Toyota will move to Detroit who would be a suitor for this space? Perhaps owning it will cost less then leasing it, otherwise there is better real estate to be had in North Korea or in green zone of Baghdad. I tend to agree with sharpie. Unless Toyota will move to Detroit who would be a suitor for this space? Perhaps owning it will cost less then leasing it, otherwise there is better real estate to be had in North Korea or in green zone of Baghdad.

]]> By: sharpie http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380310 sharpie Mon, 12 May 2008 06:35:32 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380310 I don't think the commercial real estate is doing well in Detroit. It hasn't been well since the 70s, and there are many vacancies downtown. Instead of gaining companies, we lost Comerica Bank to Dallas. But this just means GM got a good deal on acquiring RenCen. Don't know if this is good investment yet, only time will tell. I don’t think the commercial real estate is doing well in Detroit. It hasn’t been well since the 70s, and there are many vacancies downtown. Instead of gaining companies, we lost Comerica Bank to Dallas. But this just means GM got a good deal on acquiring RenCen. Don’t know if this is good investment yet, only time will tell.

]]> By: SigmaHyperion http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380308 SigmaHyperion Mon, 12 May 2008 05:43:17 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380308 GM may be hurting, but they're not very likely to be going away anytime soon. Buying out properties you're already leasing and/or buying up properties you'll eventually need at some point, when they're available for a song just makes good business sense. Their assets that can be mortgaged to the bank for far less interest than just borrowing the money. GM gets some nice buildings and a nice asset that can be leveraged for cheap loans. GM may be hurting, but they’re not very likely to be going away anytime soon. Buying out properties you’re already leasing and/or buying up properties you’ll eventually need at some point, when they’re available for a song just makes good business sense. Their assets that can be mortgaged to the bank for far less interest than just borrowing the money.

GM gets some nice buildings and a nice asset that can be leveraged for cheap loans.

]]> By: F451 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380303 F451 Mon, 12 May 2008 04:13:39 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380303 There are many reasons that this makes good sense within its timeline. Very savvy. There are many reasons that this makes good sense within its timeline. Very savvy.

]]> By: hateful83 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380301 hateful83 Mon, 12 May 2008 04:08:03 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380301 howsmydriving, my thoughts exactly. howsmydriving, my thoughts exactly.

]]> By: johnnycanuck http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380292 johnnycanuck Mon, 12 May 2008 02:54:58 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380292 I work for a corporation that even went so far as to sell their high-rise headquarters a few years ago and then lease the same building back. And had they not sold, the same property would have literally tripled in value between then and now. Never did find out if the same bean-counter who recommended that move is still with us. I work for a corporation that even went so far as to sell their high-rise headquarters a few years ago and then lease the same building back. And had they not sold, the same property would have literally tripled in value between then and now. Never did find out if the same bean-counter who recommended that move is still with us.

]]> By: Quadruple15 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380291 Quadruple15 Mon, 12 May 2008 02:52:32 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380291 Honda buildings are better... Honda buildings are better…

]]> By: howsmydriving http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380287 howsmydriving Mon, 12 May 2008 02:37:42 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380287 Could be a smart business move if GM truly unloads the properties when the market improves. Could be a smart business move if GM truly unloads the properties when the market improves.

]]> By: A4 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html/comment-page-1#comment-380277 A4 Mon, 12 May 2008 01:24:34 +0000 http://www.leftlanenews.com/gm-buys-renaissance-center-headquarters-for-626-million.html#comment-380277 money burning a hole in your pocket GM? money burning a hole in your pocket GM?

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