Bin mir ziemlich sicher das die Aussage "Problem loans stable" siehe Seite 27 letztes Quartalsergebnis in den nächten Quartalen sicher nicht mehr wiederholt werden kann..... Schlechtem Geld noch gutes hinterherzuschmeissen ist in den seltensten Fällen die richtige Entscheidung gewesen. Seht Euch den Clip zu dem im Feuer stehenden Projekt an und werft einen Blick auf die letzten Las Vegas Besucherstatistiken und man muß ziemlich "kühn" kalkulieren um hier auch nur ein kleines Licht am Ende des Tunnels zu sehen.... Ich tippe darauf das das Licht eher das eines heranrauschenden Zuges sein wird...... Hier noch ein passender Artikel der FAZ Ausgespielt in Las Vegas. Lesenwert!
DEUTSCHE BANK dug itself into a $10 billion commercial-real-estate hole. So far, the German bank is doing a decent job clambering out. But the tale raises questions about Deutsche's judgment.
The bank's exit from its Manhattan hole is off to a fast start. Just last summer, Deutsche helped real-estate mogul Harry Macklowe buy seven office towers for $7.5 billion. Mr. Macklowe soon ran into trouble. But Deutsche persuaded him to surrender the buildings, avoiding painstaking foreclosure proceedings.
Three of the towers have already been sold, two are under contract and the last two are expected to go soon. True, they're selling for about 25% less than Mr. Macklowe paid, and Deutsche will lose money. But a swift exit at a modest loss is probably the best outcome that could have been achieved.
Las Vegas, though, is another story. Deutsche is foreclosing on the $3.5 billion Cosmopolitan Resort & Casino after developer Ian Bruce Eichner defaulted. Rather than sell the half-finished project into a depressed market, Deutsche will take possession.
The bank's exit from its Manhattan hole is off to a fast start. Just last summer, Deutsche helped real-estate mogul Harry Macklowe buy seven office towers for $7.5 billion. Mr. Macklowe soon ran into trouble. But Deutsche persuaded him to surrender the buildings, avoiding painstaking foreclosure proceedings.
Three of the towers have already been sold, two are under contract and the last two are expected to go soon. True, they're selling for about 25% less than Mr. Macklowe paid, and Deutsche will lose money. But a swift exit at a modest loss is probably the best outcome that could have been achieved.
Las Vegas, though, is another story. Deutsche is foreclosing on the $3.5 billion Cosmopolitan Resort & Casino after developer Ian Bruce Eichner defaulted. Rather than sell the half-finished project into a depressed market, Deutsche will take possession.
> I especially like the somment " The concept that will stand the test of time"..... Impossible to suppress Schadenfreude while watching the clip..... :-)
> Besonders beeindruckend ist in diesem Zusammenhang der Schlußsatz "The concept that will stand the test of time"......... Zwecklos bei Ansicht des Clips nicht in Schadenfreude zu verfallen.... :-)
Deutsche will have to raise its bet with another $1 billion investment in the development, at the same time local operator Boyd Gaming has shelved a $5 billion project on the Strip. That looks like a risky double-down for a bank already exposed to MGM Mirage's cash-strapped $11 billion CityCenter project nearby.
> I´m not sure if they are already on the hook but when even Dubai World is late in raising as much as $3.5 billion for their $11.2 billion CityCenter project in Las Vegas it is not a very good sign.....MGM, Dubai Fall Behind on $3.5 Billion Loan for Las Vegas Plan . Watch the folling clip and it is no wonder why they are falling behind.....
> Ich bin mir nicht sicher ob die Deutsche Bank hier schon im "Feuer" steht. Wenn aber selbst Dubai als Hauptinvestor momentan Probleme hat Kredite zu bekommen ist dies sicher kein gutes Zeichen..... MGM, Dubai Fall Behind on $3.5 Billion Loan for Las Vegas Plan . Schaut Euch den Clip an und es ist wenig verwunderlich warum es Finanzierungsprobleme gibt.......
Project CityCenter - Las Vegas Luxury Condos
Even so, Deutsche's biggest hole may not be in Vegas, but in its reputation. It made the sucker's mistake of overlooking history, backing two racy developers with well-chronicled failures. It also was apparently blinded by the market's former momentum. In New York, it expected skyscraper rents to soar by 75%. In Las Vegas, it seems to have overestimated growth prospects and Sin City's resilience to a slowing U.S. economy.
Deutsche might be forgiven for failing to anticipate the full extent of the credit crunch. It has nevertheless revealed two weak cards in its hand: its ability to assess both borrowers and risk.
Deutsche might be forgiven for failing to anticipate the full extent of the credit crunch. It has nevertheless revealed two weak cards in its hand: its ability to assess both borrowers and risk.
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