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A 61-year-old hotel that has never had a guest

fortune.com

11–20 of 48 posts

Re: A 61-year-old hotel that has never had a guest

#11
This is just par for the course in China. It is all about money laundering and not real mismanagement, the reasons are all "unclear" because these buildings are not built to be actually used...lots of corners are cuts and pockets are padded. So having an excuse not to open works out, and places the inevitable outrage into the next or next next administration.

Re: A 61-year-old hotel that has never had a guest

#12

This is just par for the course in China. It is all about money laundering and not real mismanagement, the reasons are all "unclear" because these buildings are not built to be actually used...lots of corners are cuts and pockets are padded. So having an excuse not to open works out, and places the inevitable outrage into the next or next next administration.

uh, this story is about italy.

Re: A 61-year-old hotel that has never had a guest

#13

This is just par for the course in China. It is all about money laundering and not real mismanagement, the reasons are all "unclear" because these buildings are not built to be actually used...lots of corners are cuts and pockets are padded. So having an excuse not to open works out, and places the inevitable outrage into the next or next next administration.

uh, this story is about italy.

Sure.

But the point is that the money all goes to the local good ol' boys, whoever they are. The local contractors who pour concrete. Beyond that...well, no one cares.

Re: A 61-year-old hotel that has never had a guest

#14
post #2

What's astounding is that the regional government can fund something to the tune of millions of dollars, then red tape it to death. Almost makes me wonder if the project failed due to the vicissitudes of political climate. Those sorts of politics happen in companies too, which makes me wonder if there are similar "almost done, could be great, but never quite finished" pieces of software.

The only red tape issue i see is the one were they forgot to ask for the funds. The drainage thing reminds me of a recent story about an airport in Germany (iirc), or for that matter how many highrises in Dubai are without a sewage connection, so each day 100s of tanker trucks transport sewage to a dump.

Re: A 61-year-old hotel that has never had a guest

#15

This is just par for the course in China. It is all about money laundering and not real mismanagement, the reasons are all "unclear" because these buildings are not built to be actually used...lots of corners are cuts and pockets are padded. So having an excuse not to open works out, and places the inevitable outrage into the next or next next administration.

uh, this story is about italy.

So? It's the same story in countries with highish levels of corruption.

Re: A 61-year-old hotel that has never had a guest

#16

Earlier quoted context omitted.

uh, this story is about italy.

So? It's the same story in countries with highish levels of corruption.

China's corruption is almost all a byproduct of rapid growth. Italy's lacks that growth right now so their corruption is coming from somewhere else, perhaps intrinsic.

Re: A 61-year-old hotel that has never had a guest

#17

Earlier quoted context omitted.

So? It's the same story in countries with highish levels of corruption.

China's corruption is almost all a byproduct of rapid growth. Italy's lacks that growth right now so their corruption is coming from somewhere else, perhaps intrinsic.

It doesn't matter where the corruption comes from, the rules of the game for transferring money from public pocket A to private pocket B using sham projects are pretty universal.
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