Van Jones, Green Jobs Red Stars and Bankruptcy.

Posted on August 14, 2010 by

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Activist in Oakland California forced The Red Star Yeast factory to close its doors in 2003.
http://www.pacinst.org/topics/community_strategies/west_oakland/

The Alliance for West Oakland Development along with the Apollo Alliance and The Ella Baker center helped muster the financing for the purchase of the land.  The reclaimed site was to be developed into a community training center with a 119 unit housing project.  But in March of 2007, 9 months before Van Jones gets GREEN JOBS legislation passed by George Bush the project filed for chapter 11 bankruptcy protection.  Too bad this news did not get taken into account.   This concept of Green Jobs  simply will not work unless forced by Marxist law, or driven by the Free Market.

Both require a force to see the project through.  Free Market, the force is need of a product and the capitalist vision to make a profit.  A profit that can later be applied to more projects that will employee more people.  The Marxist way is the use of force by mandate, regulation or administration of law. It is the other way to make this work through the socialist arm of Big Government.  Either way you go if the project was not meant to be it will eventually fail.

The company, a partnership of San Francisco developer Allen Curtis Eisenberger and Jabari Herbert, who until last year was the executive director of the Alliance for West Oakland Development, filed for Chapter 11 protection from creditors in the U.S. Bankruptcy Court of San Francisco.  SOURCE : East Bay Business Times

In July of 2007 the developers, (activist COMMUNITY ORGANIZATIONS) have filed for chapter 11 protection.   They have moved to sell the property to avoid a foreclosure sale of the property and divest themselves of any financial liability.  Let the public pay for the mess.

In hopes of raising money to pay off creditors, 1396 Fifth St. LLC, the bankrupt owner of the former Red Star Yeast factory site in West Oakland, listed the 38,000-square-foot property for sale at $3.95 million.
SOURCE : bizjournals.com

On July 10th of 2008 the Tax payers of Oakland California picked up the tab for the purchase of the land.

REDEVELOPMENT AGENCY
OF THE CITY OF OAKLAND

AN AGENCY RESOLUTION AUTHORIZING THE PURCHASE
OF 1396 FIFTH STREET (FORMER RED STAR YEAST
FACTORY) IN WEST OAKLAND FROM 1396 FIFTH STREET
LLC FOR A PURCHASE PRICE NOT TO EXCEED $3,900,000,
PLUS CLOSING COSTS IN AN AMOUNT OF $60,000
SOURCE : http://clerkwebsvr1.oaklandnet.com/attachments/19913.pdf