Chinese investment via the federal government's dubious EB-5 program does not in any way recall the boom in Japanese investment in the 1980s.
Rather, those immigrant investors are buying green cards for themselves and their families, allowing their children to be educated in America.
The Times reports that "Forest City Ratner Companies has arranged for $249 million in loans from Chinese investors for residential and office towers at Atlantic Yards."
Funny, but potential investors in China were told they were investing in an arena. That's why Forest City sent retired NBA players like Otis Birdsong and Darryl Dawkins to sessions in China.
They also were told their green cards were guaranteed.
That's why Reuters, in an investigative report, got George Olsen, principal in the New York City Regional Center, the investment pool partnering with Forest City, to blame his overseas partners for misleading potential investors.
Reuters didn't go far enough. The New York City Regional Center's own representative in China said the same thing. I have it *on video*, from local webcasts.
And Brooklyn Borough President Marty Markowitz, shredding any credibility, claimed in a video made to promote the project, "Brooklyn is 1000 percent--1000 percent, behind Atlantic Yards.
That's also *on video.*
Why won't the Times investigate this? More here:
While that's part of the lawsuit, more prominent are claims of racial discrimination and retaliation, with black employees claiming repeated abuse by white supervisors, preferential treatment toward Hispanic colleagues, and retaliation in response to complaints.
Two individual supervisors, for example, are charged with referring to black employees as “black motherfucker,” “dumb black bitch,” “black monkey,” “piece of shit” and “nigger.”
Two have referred to an employee blind in one eye as “cyclops,” and “the one-eyed guy,” and an employee with a nose disorder as “the nose guy.”
There's been no official response yet though arena spokesman Barry Baum told the Daily News they, but take “allegations of this kind very seriously” and have "a zero tolerance policy for…