Re: Packard Plant (Maybe) Sold - $6.0 Million

Posted by BreakingPackard On 2013/11/21 22:04:56

When I posted yesterday evening saying "Frankly I agree entirely" about buying the Packard factory I was half kidding. Actually LESS than half kidding.

Many young guys spend much of their time in a virtual reality anyway playing video games so why shouldn't I do the same. I'm going to use the Packard Factory as my virtual reality and have some fun. Nobody really knows how serious I am or am not.

Several months ago we visited a microbrewery in Colorado. A person working there was involved in an art community. And told about hanging out at the Packard factory in Detroit. It was a fascinating story.

Quite a while back I can't remember exactly when I had this idea about Harlem. Here was all this real estate just a few miles from Manhattan with deserted buildings. Manhattan -- probably the financial capital of the world. Who could go wrong. I actually went so far as to phone a real estate enterprise in New York and they gave me this line about people out of state not being able to own property there or something. Of course a little thing like this wouldn't stop the big guys. What do you suppose that Harlem property is worth now. Plenty.

In the 1990s I bought a little over 100 acres in southern Ohio. I wanted this to be my hippie farm. I liked the 60s and early 70s. Remember hippies? Remember Vietnam? Remember Nixon? Remember Carter? I paid $450 an acre. It included a house a barn outbuildings wells cisterns a stream loads of walnut trees hickory trees butternut trees a great view. Nobody else wanted it. Now that land and the mineral rights are worth at least $800k. No it's not for sale.

The biggest problem as I see it is environmental remediation. But one doesn't have to do the whole place at once. Do just part. Then what? Put there Packard Artworks and Museum. Where Packards are on display. Where devoted artisans build new Packard clones new custom Packards and neoPackards. Don't you know a few people who like to design build and work on cars? Sell them for $300K apiece. I'll bet there'd be some interested buyers. Buicks are big in China. Remediate the balance parcel by parcel and sell leases.

In a world where CEOs get millions and millions of dollars PER YEAR all it takes is ONE wealthy Packard owner to land this historic property.

Or a few Packard owners willing to invest a hundred thousand or so.

Or a moderate number of Packard owners willing to invest a thousand dollars or so.

Get Elon Musk involved. The leading edge with Tesla and the classic with Packard.

When I was a kid the owner of the largest trucking company in the whole USA lived in our village. His net worth was around $500 million. His advice was "Buy low and sell high" I remember him saying it. Sounds glib doesn't it. But there's great wisdom in those words. Some people are so dense they just don't see the obvious. BUY LOW SELL HIGH.

These anecdotes all are true.

The Dow reached an all time high today. 21st November 2013. The stock market leads the economy. Interest rates and inflation are low. People are sitting on piles of cash. Even better times are on the way. The stock market has been going up for a century and all things considered it will continue to advance.

Only two things hold the human race back. People who have no vision. And people who won't work together.

Let's not forget why we're all here. I'm the proud owner of two 1954 Packard Patricians. Which I haven't even seen yet! One is in great shape and the other needs to be restored. Both belong in a Packard museum. How about in Detroit Michigan. These cars are priceless.