Russell Gullo appears to be a man of principle and the downtown Las Vegas property owner won’t sell yet he may be forced out anyway.
That’s what usually happens when big business’ move in and truthfully the little guys just can’t compete.
And in this case, the big guys have the city backing them.
What’ surprising is that Gullo is 88 years old and many even much younger would just take the money and run but this downtown Las Vegas property owner won’t sell. Not willingly.
Reminds of a story that I remember growing up in New York. Macy’s was being built in Queens, NY and a longtime elderly property owner refused to sell.
Mrs. Sendrick would not budge. Macy’s had planned on building a circular structure and likely just banked on Mrs. Sendrik selling. When they could not come to terms, Macy simply adjusted their plan and built around her.
In the Las Vegas case, downtown Las Vegas is in the midst of a “boom”. The city is buying properties and so is Zappos.com CEO Tony Hsieh and other companies and people he is allegedly affiliated with including the City of Las Vegas.
But they are not getting Gullo’s property because Gullo the downtown Las Vegas property owner won’t sell and so far is not wavering although he’s open to selling if it’s a fair price.
The Las Vegas Review Journal Interview did a pretty extensive piece and it is wrought with who knows know and big business deals, what is known to many as the “lifeblood” of Las Vegas.
Gullo did have a deal to sell his property but the company that he was dealing with assigned the contract to the City which Gullo said he never approved.
He hasn’t touched any of the escrow money, which is substantial, and lives in a grungy, dangerous section of downtown Las Vegas. He says the property is being left to the Vatican.
The big question is why was the contract assigned to the city?
Las Vegas City officials are not talking other than to say, “We won’t comment until the litigation is complete, but there are answers to those questions”, according to the LVRJ
I , for one, would like to know what those answers are.
The City has gotten much more aggressive in their efforts to revive downtown Las Vegas but at what cost?
Gone are the days when they allowed a few smaller business to open up, many with grants or other funding to help them in their initial quest to revive the downtown area.
Now Las Vegas suffers from long term double digit unemployment without any relief in sight. Benefits have ceased for the long term unemployed, the one who need it most yet “sweetheart deals” continue to line the pockets of many investors, business owners and possibly city officials.
It appears that those smaller entities are no longer wanted or needed since the city has a new sweetheart.
Big business, which is the city and their selected “associates” continue to buy up downtown Las Vegas.
Russell Gullo, the downtown Las Vegas property owner won’t sell and amazingly continues to live in poverty with the city and big deep pocketed partners as his enemies because they want his property – all all costs!