Wednesday, June 24, 2009

Decoding a Times euphemism: "more modest" = "saving FCR $100 million"

From an article on Thursday's New York Times, headlined Atlantic Yards Project Enters a Crucial Period:
On Wednesday, the board of the Metropolitan Transportation Authority voted 10 to 2 to revise a deal to sell Mr. Ratner a railyard that sits within the 22-acre development. Instead of insisting on a $100 million lump-sum payment, the authority gave Mr. Ratner 21 years to pay the money in increments. It also allowed the developer to build a more modest replacement railyard than he had once promised.

(Emphasis added)

That "more modest" replacement would save developer Forest City Ratner about $100 million.

That information has not appeared in the Times, not in print, and not on the web.

It certainly raises questions about whether the Times--which did disclose the parent Times Company's business relationship with FCR--can ever be exacting in its coverage of AY, as it should be.

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