Millionaires fighting with billionaires. The NFL lockout? No, it's Beverly Hills

[Rage for Order]

http://www.latimes.com/news/local/la-me-megamansion-20110322,0,3318151.story

In a neighborhood whose residents include Bruce Springsteen, Jay Leno, Michael Ovitz and David Beckham, this mystery landowner is preparing to build an 85,000-square-foot family compound, fit for royalty.

If the owner gets his way, the real estate will host a 42,681-square-foot main house, a double-winged "son's villa" of more than 27,000 square feet, a 4,400-square-foot guest house, a 5,300-square-foot staff quarters and a 2,700-square-foot gatehouse. Those and other proposed structures would occupy a combined area larger than Griffith Observatory.

They seem to have a worthy adversary, one with deep pockets and expensive lawyers and who may even be a senior Saudi prince. Instead of disclosing his identity, the owner has created a special business, Tower Lane Properties Inc., to purchase three adjoining plots for $12 million. A team of lawyers, architects, intermediaries and sales brokers have been hired to manage the project, and all have signed secrecy agreements.

(Mansour) Fustok (of London, president of Tower Lane Properties), a former brother-in-law to Saudi King Abdullah, is uncle to Prince Abdulaziz ibn Abdullah ibn Abdulaziz al Saud, one of King Abdullah's sons. Rutter Hobbs attorney Olivia Goodkin, who served as the initial registered agent for Tower Lane Properties, has represented companies controlled by Saudi royal family members in the past. Reached at his home in London, Fustok said he was prohibited from naming the owner and described the proposed development as "just a normal Mediterranean-style house." He insisted that the owner would comply with all building regulations and environmental reviews.


More at the link.

It's just a normal Mediterranean-style house!!!!



:crazy:

[Wilms]

1. Another reason we "need" nuclear energy is to run places like this. n/t

[Rage for Order]

2. And tax cuts for rich people

After all, can you imagine how much it's going to cost to employ the "help" that will be required to maintain such a normal, Mediterranean-style house? On the bright side, think of all the jobs this house will create.

:silly:

[Wilms]

7. Your right about THAT kind of job creation.

But I'd appreciate Americans being employed doing something REALLY productive. The GDP continues to rise, the wages for the average person continue to plummet, while the rich get even more wealthy. That tells me Americans ARE earning money, and the rich are grabbing it before it can be reflected in the workers paycheck.

:shrug:

[Zanzoobar]

3. The main house is not even a full acre

It's hardly a shanty. I can see why the neighbors are pissed. They need an HOA to keep out the riff-raff.

[Rex]

4. We have reached a point to where it is no longer the working poor

vs the rich...it is now the millionares vs the billionares and of course the Bs are going to win. Monopolies are okay in America and so is the practice of fucking over the lesser fortunate for profit - hell, it is the America way!

Ms vs Bs...yikes guess we are losing the class war if we have to have Ms fight for us! Oh right this is just all about sports, who cares then let them eat their own.

[howaboutme]

5. But think of all the jobs this will create

Republicans, bankers and the capitalist elite have used the "but it creates jobs" as an excuse to get everything from destructive gas drilling to building stadiums for the rich to corporate welfare for Fortune 500 companies.

[1776Forever]

6. OMG I am loving this! Now those so called "rich" people will find out what is really "rich"! Not

that I would like to see this huge compound built, but really this is going to wake some people up! They are going to feel like some of us do when we look at 20 room houses for 2 people! This is rich!

[Shallah Kali]

8. remember the law professor who whined about being not rich at $250,000 PLUS his wife's income?

Michael O'Hare on the Class War

Michael O'Hare reads Chicago Law Professor Xxxx Xxxxxxxxx , and reacts:
http://delong.typepad.com/sdj/2010/09/michael-ohare-on-the-class-war.html

Because Obama proposes to let the Bush tax cuts expire only on “incomes above $250K”, I was surprised that Prof. Xxxx Xxxxxxxxx expected to be importantly worse off under the president’s plan.... He says his family’s “combined income exceeds the $250,000 threshhold for the super rich (but not by that much).”... e says he’s paying “nearly $100,000″ in state and federal taxes, not including sales tax; let’s say $95,000. Leaving out his property tax, that’s $80,000 in income tax. How much income would lead to this kind of tax hit?... is pretax family income exceeds $250,000 by at least $90,000. But this doesn’t include tax-free contributions to their 401Ks.... So we’re pretty close to $400K gross income, and on top of that their employers are surely putting money into their retirement funds....

He is also whining about his and his wife’s education loans, $500,000, which are costing them about $50K per year in interest. Let’s just sketch out the family budget here: Taxes: $100,000. Housing... $80,000. Two really nice cars... $10,500. Student loan payments (20 year amortization at 10%) = $60,000....

This leaves about $90,000, a lousy $245 a day, for food, clothes, vacations, cable TV, and like that. You can walk into Nordstrom’s on Upper Michigan and spend that in a minute, and for stuff you really need. Really, I don’t know how these people get by; their adaptive skills, economical habits, and modest living style is an inspiration to all of us. Perhaps they are careful to tip no more than 15% at the Sizzler when they splurge.

So how does our third-of-a-million-a-year law prof/doctor couple and their three kids, barely scraping by already and falling before our eyes to the very bottom of the top 1% of US families by income, make out under Obama’s rapacious soak-the-rich commie attack on all that is holy and American and fine?... His taxes will go down $3700.... And this guy is threatening to fire the gardener and the house cleaner, take the kid out of art class, turn off his cell phones, and try to raise competent adults with only basic cable.

[1776Forever]

9. It's all relevant isn't it? These people will never have enough. And by the way if this guy in CA

is from Saudi Arabia he won't be paying taxes here except for his property tax which too him would be peanuts I bet. You said it very well! That's why I loved this look at billionaire vs. millionaire!