Redevelopment plans for Graceland "tabled"

[vivaelvis]

Not surprised by this at all. Look for EPE to be back on the market soon as an independant company. CKX is heading down like a mayday call and will be selling off it's assets to save the company from bankruptcy.

http://www.bizjournals.com/memphis/n...plans-for.html

[Tigerman1975]

I think alot of people just dont want to see Graceland turned into a Disney style theme park. We are already losing the "real" Memphis little by little anyway. If they start chewing up the area surrounding Graceland then it would be absolutely nothing like what it was when Elvis lived there. In many ways, it already isnt.

[KPM]

Excerpt
.......“Although we continue to consider the exact scope, cost, financing plan and timing of such a project, we expect that the redevelopment of Graceland, if and when pursued, would take several years and could require a substantial financial investment by the company,” read the report. “In addition, our ability to pursue such a project would be conditioned on a number of factors, including but not limited to general economic conditions, the availability of capital and obtaining necessary approvals and concessions from local and state authorities.....

As I stated 6 years ago when the hoopla about the 85% sale of Elvis's image to CKX and then in charge Sillerman-they jumped and bought....then were not sure which way to proceed-so they explored, debated, did studies, hired consultants to study.....and could not come up with a basic solid plan of action-that indecision is IMO the main reason they have essentially been in limbo. They bought up land using capital, they explored action in Vegas and got into a financial crunch with so much money being used for property buys....with no real overall solid plans-it was almost-we'll get the lands everywhere we want to build on-but.....what to build???
Then the financial meltdown hits, then the board and Sillerman have a falling out, then the proposed buyout by Sillerman and others-all of which have gone no where.

[vivaelvis]

Here's another viewpoint to the news of this. It's made national news, btw. I predict that by the end of the year EPE will be back on the market up for sale. Remember where you heard that. http://www.elvis-collectors.com/foru...hp?f=1&t=59500

[Jungleroom76]

As I said before, considering the current economic climate as well as the fluid situation with Sillerman and CKX, I am not at all surprised by this news. It's just such a shame that it has to come at the expense of Elvis' fans and his namesake business...

TCB!
Mike

[KPM]

Lisa is the one who made money on this deal-she pocketed $100 million just to lease the home and image of her father-she is out nothing.
She retains ownership of the home and personal property, no matter what CKX does with their 85%...the business still runs by EPE management...CKX was the "brains and money" which were suppose to elevate the business into new territory.......in spite of that EPE still does fairly well even with the downturn.
Unfortunately for CKX they are not likely to get many people able to come up with their asking price for quite a while....just as the deal to buy CKX by SIllerman and others could not be brought to fruition.
Elvis has not suffered anything, he still draws even in this uncertain economy.