What if the casino measure doesn’t pass? Will McLeod and Gray still invest on the west bank?
The suits in the articles listed in the video aboveclaim McLeodUSA and several senior executives made false and misleading statements to inflate the value of McLeodUSA stock [b]They accuse McLeodUSA of failing to disclose it lacked funds to complete its national telecommunications network and failing to take impairment losses on money-losing acquisitions in a timely fashion.[/b] The Gazette January 22 2002
Mr. Gray served as President of McLeodUSA Incorporated from April 1992 until December 2004
A 20 year monopoly on casino gambling in Linn County
A 3% minimum required by law return to the community
City owned real estate for their casino at an undetermined amount
Steve Gray and the Casino Gang say it is all about jobs, fun and entertainment
“A Cedar Rapids attorney was disbarred this week for taking $800,000 from client accounts that was used for her “gambling addiction,” according to disbarment documents filed Wednesday with the Iowa Supreme Court.”
Vote Yes Linn County, the pro-casino campaign
One has to wonder if the investors of this casino did any research and exactly who these investors are! After doing my own research I found the casino that Mr. Gray would like to emulate is losing money.
“Gray also singled out the Rivers Casino, a downtown casino in Pittsburgh, Pa., adding that he envisioned that a Cedar Rapids casino will be “”urban, metro and upscale” not unlike the Pittsburgh one.”