Quoted Text

SCHENECTADY
Friends to take over renowned restaurant
Cornell’s had been under bankruptcy protection
BY MICHAEL LAMENDOLA Gazette Reporter

    Cornell’s Restaurant, which is in reorganization under Chapter 11 in federal bankruptcy court, is coming under new ownership.
    The new owners will be John E.N. Hume III, his wife, Connie, and a friend, George Ryon, a retired public school teacher. They are buying the restaurant at 39-45 N. Jay St. from longtime owner JoAnn Aragosa, Ryon said.
    “We are saving an institution and a dear friend,” Ryon said of the restaurant in the Little Italy section of Schenectady and of Aragosa, whom he and the Humes have known for years.
    The owners plan to retain Aragosa as an employee, as well as head chef Armondo Cioccke, who will run operations.
    “JoAnn is the face of the restaurant, and we have a lot of faith in Armondo,” Ryon said. “Armondo has worked for the family for 20 years.” He has been head chef for the last fi ve years.
    Cioccke said he is “excited to be able to continue the tradition and keep the place functioning. We all love JoAnn, and we are excited we could make this work.”
    The restaurant will operate under a new corporation, HHR3945. The name contains the initials of each owner’s last name and the address of the restaurant.
    John Hume is editor and publisher of The Gazette Newspapers; the restaurant acquisition is independent of the newspaper operation.
    As part of the reorganization, the new owners will pay off Cornell’s liens to American Tax Funding, which buys delinquent property tax liens from the city of Schenectady, and the New York State Business Development Corp., which holds the mortgage on the property. Aragosa owes ATF $179,000 in back taxes and interest and owes $402,000 to NYSBDC.
    Aragosa also owes the Metroplex Development Authority $235,000, the Internal Revenue Service $92,272 and the state Department of Taxation and Finance $160,000, according to her bankruptcy petition. She filed for bankruptcy protection last July, citing $145,000 in assets and $1.3 million in debts.
    Ryon said he and the Humes are not assuming those liabilities. He said Aragosa has an arrangement with the state and federal authorities to repay those liabilities. The Metroplex debt will likely remain unpaid, he said.
    Metroplex Chairman Ray Gillen said Metroplex is “closely tracking the situation” and called the development positive.
    “It is very positive that a group of private investors who care about Schenectady and Cornell’s have come forward to consider a major investment in the business,” he said. “The investors plan to keep the Cornell’s name and tradition intact. As this transaction is still not fi nalized, it would be premature to comment on the status of the loan, which was made by the previous Metroplex board chair.”
    In 2003, Metroplex, then under a different chairman, John Manning, and board, gave Cornell’s a $235,000 loan and a $235,000 grant to help pay relocation costs. .......................>>>>.....................>>>>.......................................http://www.dailygazette.net/De.....r00800&AppName=1

In Metroplex loans and grants, this business took $470,000 from the taxpayers for which NONE of it will be paid back.

Where else in America can an authority like Metroplex give half a million to a business, the business goes bankrupt, the Plex loan not repaid and Gillen declares this a positive development?!?!?

If Metroplex was a private investment company, Mr. Gillen would have been fired very, very long ago.

Doesn't Hume own the Gazette??

Quoted from rachel72

In Metroplex loans and grants, this business took $470,000 from the taxpayers for which NONE of it will be paid back.

Where else in America can an authority like Metroplex give half a million to a business, the business goes bankrupt, the Plex loan not repaid and Gillen declares this a positive development?!?!?

If Metroplex was a private investment company, Mr. Gillen would have been fired very, very long ago.

He'd be in prison. All the chickens have now come home to roost. The Gazetto will save the day! Another Mighty Mouse! ROTFLMAO!! New menus printed on recycled newspaper.

     The renaissance bus has just hit a polenta pothole. No repayment, bankrupt and according to Death Ray a positive development. Had enough yet?

Let me get this straight, Cornells received a $402k for the mortgage, received a $235k loan and another $235k grant from Metroplex. Then they owe $179k in back property and school taxes and $92k to the IRS.

Where did all the money go.....and why would ANYONE take this over? Did the Plex offer a tax free incentive to the new owners?

i don;t know. maybe gramie, the chocolate covered wingnut can tell us? that is, he if is not too busy cooking up his latest recipe of racist rants. kind of sad, if you ask me, he is a former county legislator who has a record of disgusting behavior..

too bad, i say.. too bad

gramie -- the chocolote covered wingnut
mobile terminal -- disconnected from reality
rachel: an idiot of biblical porpotions
mikechristine: frustrated loser who canlt get anyone to listen to him
benny salami: certifed but on work release

yes folks, welcome to the voice of the people .. lol

Quoted from Smoking Bananas

i don;t know. maybe gramie, the chocolate covered wingnut can tell us? that is, he if is not too busy cooking up his latest recipe of racist rants. kind of sad, if you ask me, he is a former county legislator who has a record of disgusting behavior..

too bad, i say.. too bad

gramie -- the chocolote covered wingnut
mobile terminal -- disconnected from reality
rachel: an idiot of biblical porpotions
mikechristine: frustrated loser who canlt get anyone to listen to him
benny salami: certifed but on work release

yes folks, welcome to the voice of the people .. lol

You forgot:

Smoking Bananas -- Official propagandist for the Schenectady County Democrat Party.

You did all you could to get Suzie elected.  You should tell the editors at the Gazetto to at least appear less bias, and print SOME stories that represent the ugly reality that is Schenectady.  The "miracle mile" and those Gazetto puff pieces were even too unbelievable for the residents that live in the shithole called Schenectady

More egg on the face? Everyone is laughing at the Metrograft idiots/fiscal incompetents. Apparently Cornell's did not have a good business plan-lol. Unlike the Metrograft bozos that can't plan anything. Cornell's defaulted on $1,068,272 taxes/loans with another $235,000 grant they flushed. Thank you DEM unified redevelopment idiots! Where's ANG's press release on this? Someone call City Mission. Where's TJ Hooker on this disgrace? Somebody call REMS.

      Last July they went bankrupt with $145,000 in assets and $1.3 million in debts. With the Gazetto running the ship they will not make it through the year. But plenty of free ads. This is another rope a dope to keep them limping along until past Election Day. In a month the Armory has no bidders, Parker Inn goes belly up, the creperie locks the door cannot find any buyer and Cornell flops again. The Metrograft bozos "led" by Death Ray should open another hotel or governmental gin mill Downtown. Death Ray should be handing in his resignation today or be fired.

SmokingSomething just has a bitter taste in his mouth after Chris Gardner gave him his latest ATM, so you can't blame the butt boy.

Wonder if this is the 4th grade tactic of the DEMS in November. I mean, if you can't defend the stealing of millions of taxpayer money, call people names and run away.

Seems about right.

Again, where did millions of taxpayer money go? Cornells didn't pay their taxes (property, school and sales) and received a half million from the plex.

Where's the taxpayers money?

Right out of the liberal progressives hand book "Rules for Radicals".  7. Tactics

"Tactics are those conscious deliberate acts by which human beings live with each other and deal with the world around them. ... Here our concern is with the tactic of taking; how the Have-Nots can take power away from the Haves." p.126

Always remember the first rule of power tactics (pps.127-134):

1. "Power is not only what you have, but what the enemy thinks you have."

2. "Never go outside the expertise of your people. When an action or tactic is outside the experience of the people, the result is confusion, fear and retreat.... [and] the collapse of communication.

3. "Whenever possible, go outside the expertise of the enemy. Look for ways to increase insecurity, anxiety and uncertainty. (This happens all the time. Watch how many organizations under attack are blind-sided by seemingly irrelevant arguments that they are then forced to address.)

4. "Make the enemy live up to its own book of rules. You can kill them with this, for they can no more obey their own rules than the Christian church can live up to Christianity."

5. "Ridicule is man's most potent weapon. It is almost impossible to counteract ridicule. Also it infuriates the opposition, which then reacts to your advantage."6. "A good tactic is one your people enjoy."

7. "A tactic that drags on too long becomes a drag. Man can sustain militant interest in any issue for only a limited time...."

8. "Keep the pressure on, with different tactics and actions, and utilize all events of the period for your purpose."

9. "The threat is usually more terrifying than the thing itself."

10. "The major premise for tactics is the development of operations that will maintain a constant pressure upon the opposition. It is this unceasing pressure that results in the reactions from the opposition that are essential for the success of the campaign."

11. "If you push a negative hard and deep enough, it will break through into its counterside... every positive has its negative."

12. "The price of a successful attack is a constructive alternative."

13. Pick the target, freeze it, personalize it, and polarize it.  In conflict tactics there are certain rules that [should be regarded] as universalities. One is that the opposition must be singled out as the target and 'frozen.'...

     "...any target can always say, 'Why do you center on me when there are others to blame as well?' When your 'freeze the target,' you disregard these [rational but distracting] arguments.... Then, as you zero in and freeze your target and carry out your attack, all the 'others' come out of the woodwork very soon. They become visible by their support of the target...'

     "One acts decisively only in the conviction that all the angels are on one side and all the devils on the other." (pps.127-134)

Quoted from rachel72

Wonder if this is the 4th grade tactic of the DEMS in November. I mean, if you can't defend the stealing of millions of taxpayer money, call people names and run away. Seems about right.
Again, where did millions of taxpayer money go? Cornells didn't pay their taxes (property, school and sales) and received a half million from the plex. Where's the taxpayers money?

Good questions but don't any answers from blithering idiots. What is the latest on the armed robbery of the Cornell's safe? Any arrests? Any leads?

     This is all positive news! Now an new management team is in place with experience in running sinking ships. Death Ray needs to go today. All he does is lie about national retailers coming Downtown and rip off the County taxpayers.

And here is DV aka SB.    Shaking those pom poms, wearing the little skirt (wait, he couldn't fit into a skirt, probably couldn't fit into shorts either)  with a big letter M on the shirt, TRYING to do jumps but failing, but shaking those pom poms saying "RAH RAH RAH, Metroplex RAH RAH RAH, YEAH YEAH YEAH, TAX THE HOMEONWERS, RAISE THEIR TAXES, RAISE THEM HIGHER, YEAH YEAH YEAH, RAH RAH RAH.

Quoted from Smoking Bananas

mikechristine: frustrated loser who canlt get anyone to listen to him

ha ha ha

Loser?   Uh, SB aka DV, tell us about the mama's boy, failure at being an adult; failure at being independent, no concept of taxes, no idea of assessment, and posts here wiith comments such as taxpayers don't pay "extra" for Metroplex, rather it's through sales tax but doesn't have the education or intelligence to know that EXTRA sales tax was created for metroplex.  

Oh yes, SB, people listen to me, you will see all the kudos and thank you's when I post information from those occasions where I get to looking things up,  

But you under your sB name or your DV name, either name, it's the same thing....you make comments but NEVER NEVER NEVER NEVER NEVER NEVER provide one shred of proof to support the comments you make.....

Well, DV now has a new name.....DVFOL......Democratic Voice Full of Lies            Lies....because NONE of his comments have ANY proof with them.

He CLAIMS violent crime is down over 10 years, CLAIMS some govt agency says so, BUT DOES NOT PROVIDE THE PROOF.   I on the other hand, prove he is FULL OF LIES by providing the NUMNBERS.....the numbers that show violent crime has INCREASED over the past 10 years, AND I provide the source of the information, official sources and suddenly DVFOL is totally speechless, he refuses to respond, he is much too embarrassed to respond when proven wrong.

I provide proof of a comparison of two houses in two different cities, and show how one is worth more than twice as much with less taxes, DV is speechless.

I or anyone can ask DV WHY more housing must be built----AT TAXPAYER EXPENSE---when the city has more EXISTING VACANT homes than it can deal with AND while homeowners are putting their houses up in record numbers.....but DV can't explain why adding more housing should be built.   So full of lies

And when using the SB name, still is speechless and can't answer the questions.  So another correction of name.   SPEECHLESS BANANAS.

County residents are beginning to understand that Metrograft=higher property taxes. Metrograft=no jobs. Metrograft=helping connected DEM millionaires only. Every give away to the DEM friends and family club involves tax free status with no end date. No wonder City tax revenues have plummeted and the DEMS can't repave roads, pay school or County taxes due. How's the free rent for business doin? lol

      Where is Rotterdam "leader" Judy DAG on the failure of the City DEM working together crew to pay the County DEM working together crew taxes due? Silence-crickets chirping. Ask her about Little League. That she knows from. The County finances are in the pishaloo and the DEM morons still want to build a new County home adding $10 MILLION a year to record County taxes. If you are thinking of selling-sell now-don't want for these DEM taxers to start the new County Home. Add your for sale sign to the thousands of for sale signs in this horrible County.