Queen Mary Auctioned! 8/14/07

[John in Covina]

The Queen Mary in Long Beach was auctioned off for $43 Million. I still haven't seen much as to the details as to who won and what their plans are with the QM. The city of Long Beach said the previous owners owed millions in rent. I hope this doesn't interfere with the QM gathering!

 

[imoldfashioned]

I hope the new owners realize what a treasure they have. Fingers crossed that this year's event is safe too!

 

[FedoraGent]

Wow...

Wow, I'm down here working in the area...I'm going to have to check her out. I'll ask the staff if they have any details. I was planning on staying on the ship next week.

FG.

 

[Mike in Seattle]

The Queen Mary in Long Beach was auctioned off for $43 Million. I still haven't seen much as to the details as to who won and what their plans are with the QM. The city of Long Beach said the previous owners owed millions in rent. I hope this doesn't interfere with the QM gathering!

What was auctioned off were only the concession rights and a lease for use as a hotel & so forth. The city of Long Beach owns the ship, has since the late 1960's, and it's never been for sale since they bought it from Cunard. The last tenants didn't pay their rent and fees, so the city auctioned off the remainder of that contract to a new tenant. It's old, old, old news that this was happening.

RE: the gathering - no effect at all - MK's already posted about that.

 

[Miss Neecerie]

Both parties bidding had a mixed use retail entertainment plan for it.

It does not take effect right away anyhow....so no change to event plans....

 

[Twitch]

Ya know I can't count the number of owners who have enthusiastically come on board with big plans and pie in the sky hoopla that would make the Queen Mary and surrounding area a huge money-making mecca.

All that has noticably happened is that each successive group has sold more of the vintage Queen memoribilia and ship's equipment and raised entry prices to pay for thier purchase as the boat has physically gone downhill.

One group sold the Huges Hercules to Podunk, Oregon denying its Long Beach setting full of Southern California aviation fans would be interested in seeing it and the many other historic planes once housed under dome. Again, selling it helped pay for the purchase.

They've tried assorted types of retail shops on the adjacent property which all had inflated prices too. It has left me with "crapola by the sea" impression.

In 5 years this new ownership outfit will be publically complaining about sagging revenues and lack of visitors as the ship sinks once again!

 

[Classydame]

Ya know I can't count the number of owners who have enthusiastically come on board with big plans and pie in the sky hoopla that would make the Queen Mary and surrounding area a huge money-making mecca.

All that has noticably happened is that each successive group has sold more of the vintage Queen memoribilia and ship's equipment and raised entry prices to pay for thier purchase as the boat has physically gone downhill.

One group sold the Huges Hercules to Podunk, Oregon denying its Long Beach setting full of Southern California aviation fans would be interested in seeing it and the many other historic planes once housed under dome. Again, selling it helped pay for the purchase.

They've tried assorted types of retail shops on the adjacent property which all had inflated prices too. It has left me with "crapola by the sea" impression.

In 5 years this new ownership outfit will be publically complaining about sagging revenues and lack of visitors as the ship sinks once again!

I am going to "expect the worst but hope for the best" in this situation. I really hope they can pull it together. She is such a beautiful ship! She deserves the best!

 

[Tomasso]

I don't feel very good that an investment group was chosen over a well heeled developer with a proven track record.


This comment illustrates a very shortsighted attitude on the part of Long Beach officials:

"Our only interest is to see that the city was compensated, and the city made out very well in this auction," City Atty. Robert Shannon said.

Often times it's the lesser deal, offered by a more competent bidder, that turns out to be more lucrative for municipal coffers over time.

 

[Marc Chevalier]

Was it sold on eBay? Did anyone here buy it?


.

 

[Dagwood]

This comment illustrates a very shortsighted attitude on the part of Long Beach officials:

"Our only interest is to see that the city was compensated, and the city made out very well in this auction," City Atty. Robert Shannon said.

That would be the very same City that led Disney to give up the Queen Mary in 1992.

 

[Twitch]

Long Beach in general has a curious at best track record in developing tourist things or money-making enterprises along the shore. The ship tour cost like $27 now and in past times has changed as parts of the boat have been closed to the public. I recall going and not seeing several areas I did the 1st time I went.

All I can remember since the thing got here in 1967 is ongoing financial problems and citizens' disgust with the hole in the water that the city poured money into. If there was a popular vote citywide I wager the populace would dump the whole enterprise and sell it to someplace far way.

Each successive owner has slapped a new coat of paint on the old relic and raised the entry fee and parking, of course.:eusa_doh:

 

[Dagwood]

Football Stadium?

From today's LA Daily News:

...Jeff Klein is a Newport Beach developer whose "Save The Queen" company just purchased the rights to 65 acres next to the legendary ship, and one of his many suggested developments is a football stadium that could be home to an NFL franchise, or - surprise! - USC football.

Introducing, the USC Trojans of Long Beach!

Indeed, Klein has already made a presentation to the university, which is struggling in negotiations for a new lease at the Coliseum, and has also made preliminary contact with the NFL.

"There was a presentation by the developer of the Queen Mary site, and it looks great," said Kristina Raspe, senior vice-president of real estate and asset management at USC. "Our efforts remain (with the Coliseum Commission). But if something isn't worked out (with the commission), I don't think we would rule anything out at this point."...