Setting Lou Trazino Straight


I’m not Paul Hovitz and I was at the Pace meeting and I can tell you that there was quite a lack of straight talk going on that night. It getting tiresome to hear the same lie repeated by people for privatization at Southbridge Towers that somehow experts at this meeting were giving us “straight facts”. It’s also makes me wonder why these same people seem to think that the Attorney’s General office forcing the retraction of 24 separate things said that night would not be an obvious tip-off to the real purpose of the meeting – a sales pitch. For instance: Do you really believe that all buildings in NYC built before 1978 contain asbestos? This came out of the mouth of one of the sponsor’s “experts’, and this is not even one of the 24 retractions. “Real experts”, please – the definition that comes to mind here is shills. As to “Letters from Banks Regarding Mortgages’ read this post. And “Benefits of Privatization” yes, lets all only think of the benefits and forget any of the financial risks involved with privatization. Of course these risks are all outlined in the Black Book, but many of us wouldn’t know that if all we had to go by was the Pace meeting. And as to “Proxy Voting” read this.

Btw, Lou I seem to remember you stating at one of the  Southbridge Towers Shareholders Association meetings that you were ready to sell immediately and move out of a privatized Southbridge Towers – in other words, take the money and run – if down the line things go south at SBT you will be long gone. The worst anyone at SBT can do by listening to Paul H. is hold onto and continue to live in their SBT apartment. Your touting for the privatization sponsor’s  “experts”, and their sale pitch, may suit your particular situation but is not making it easier for other co-operators at SBT to make an informed decision in the speculative venture that is privatization.


6 thoughts on “Setting Lou Trazino Straight

  1. I will add that I do not recall one risk or reason to stay in Mitchell-Lama being discussed at the Pace informational hearing. I had thought I would walk away witha list of pros and cons, and all I heard were the “pros” discussing the pros in their view. It is unfortunate that I have come to distrust the privatizers, and feel compelled to vote for Mitchell-Lama because of the behavior I’ve witnessed and my lcak of faith in information presented in the Big Book and info that was left out. I’ve also grown tired of listening to those for Mitchell-Lama..At this point I expect to voite for Mitchell-Lama because the issue can always be visited again, perhaps with cooler heads in the future. The demographics of SBT will also likely have changed a great deal in ten to 15 years.


  2. I have never said at any time that I was about to leave Southbridge Towers. If ; however, you did hear people say that, it would add wait to the argument that the flip tax would bring in sufficient money to defray the cost of additional property taxes. That in the long run is the only large difference between remaining in the program and reconstituting as a private cooperative.


    • I counted a total of 3 people with raised hands from the 5 or 6 different meetings I attended – organized by both sides – when people were asked to raised their hands if they were planning to sell-out should SBT go private. By this rough estimate very few people are planning to leave SBT, but we can still expect tons of money pouring in from flip tax on sales. Financials won’t work unless everyone is lying or maintenance and assessments on keeping a SBT apartment get too expensive and people are forced to move. Keep in mind that what you get won’t replace what you have.


  3. In fact privately many people in that room that night have told me on occasion that they were ready to get on with their lives and move on to a different living situation. They were not among the group that raised their hands that night. They most likely were put off about exposing their private intentions in front of a hostile audience and being accused of “taking the money and running” as I was erroneously accused of . In the stock talking points of those opposed to privatization, either you will be taking the money and running or their will be no sale of apartments. In reality this has not been the experience of those Mitchell-Lamas that have privatized.


  4. As of December 18, 2014, there have been no Opt outs in regard to the reconstitution at SBT. For all of you Paul Hovitz sycophants out there , If his dire projections are so true why as of this date has he and at least one of his relatives not opted out? Don’t be fooled folks.


  5. Hey John Lynch and Nonstopid or should I just say Stopid, I guess the plan was so bad that you opted out, eh. No , not even you guys could be so stopid as to be fooled by that hypocrite Paul Hovitz.


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