Receiver seeks two Petters condo project foreclosures

  • Article by: DAVID PHELPS and JENNIFER BJORHUS , Star Tribune
  • Updated: December 16, 2008 - 10:13 PM

Creditors fret as Tom Petters' companies founder; Polaroid suffers "substantial losses"and may have to downsize.

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memorylaneDec. 16, 0810:31 PM

And, he had the charisma, looks, and talent. Regretfully, some of his team didn't agree with his plan. We need to think of him, his girl friend, and most importantly his children. Mr. Petters can't be compared to a blue collar type criminal. Mr. Petters had a dream.

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reelingDec. 17, 0812:00 AM

Petters had dream of destroying thousands of families financial future. Mr. Petters can't be compared to a blue collar type criminal, he's 3.5 billion times worse. He suceeded in his dream.

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yeswecan2Dec. 17, 0812:38 AM

Please put Al Franken and Garrison Keillor in jail to replace him. Put laserhaas in there too while you're at it. Make Petters get a job with Franken and Keillor to work off his debt.

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expat08Dec. 17, 08 5:22 AM

Hagrid's comment isn't completely accurate. Florida, Tennessee and Texas have no state income tax, but their infrastructure is strong (particularly in Florida), and opportunities for affordable education are comparable to/better than those in Minnesota. The public park systems in those states is not as strong, nor are the arts as heavily subsidized by state government. I enjoy those things, so I don't complain (TOO much) about my state income tax bill here in Minnesota. But to say that infrastructure and education always suffer as a result of lower taxes isn't accurate. Other things just get prioritized lower.

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xcel12Dec. 17, 08 9:14 AM

Alot of People are going to feel the effects of the Petters Scheme.

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factcheckerDec. 17, 0810:38 AM

Well, WHY does Coleman continue to attend Twolves Games in the front row?? Arent they worth SOMETHING, especially to the people she ROBBED! WHY should any of them have ANYTHING left?? including 4K diamond rings, motor homes and harleys and loans for the BF. I always thought over $10,000.00 was taxable!!!!! gift>>>?>

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RanickDec. 17, 0811:06 AM

Not sure how you can say Florida is better than Minnesota (other than the weather in winter). If all a person saw when they were visiting Florida were the nice resort areas and retirement enclaves, one might think Florida was a great state. Unfortunately when you do any serious travel you see that Florida is mostly a dump. Dirty, disheveled, and poorly maintained, with crumbling roads, sidewalks, etc...etc. It is just plain shabby and run down. It has a patina of age and decay to it. Most of the other states with no income taxes rank among the worst in the country. Texas comes to mind. To my eye, most of the Texas I've seen, is a dump. Austin is the only city in Texas that ever impressed me, the rest of the state is shabby, dirty and run down, as are most of the southern states. I don't think people realize that when it comes to taxes, you get what you pay for. When you do any serious traveling across this country it becomes very apparent that the higher taxed states are some of the nicest places to live. Most of these areas are in the midwest, the northeast and west coasts. I would put Minnesota up against any state. We have a great standard of living. The low tax states are low rent in my opinion, and I'd hate to see Minnesota devolve into what I've seen traveling through the low tax areas of this country.

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