THE PUNISHMENT OF FORTRESS INVESTMENT GROUP(ALL ABOARD FLORIDA)!!!!

Randall Nardone, Wesley Edens and Robert Kauffman

They finally got him. Randal Nardone of Fortress Investment Group luck is running out. After years of running amok, creating chaos and just all outright stealing. Trump has put an end to Randal and his boys criminal activity. Randal is being forced to sell his company Fortress Investment Group for pennies on a dollar. Principals Peter Briger, Wesley Edens and Randal Nardone will lead Fortress during the transition period. The Principals are also forced to invest 50% of their after-tax proceeds from the takeover back into Fortress-managed funds, in a gesture to repay stockholders.

President Trump is doing at least one thing right in going after criminal bankers like Randal Nardone. In the process stopping Randal from committing major fraud in Miami with All Aboard Florida(Bright Line). President Trump has a lot to protect in Miami, so even if the world burns down this will be the one place that gets protected. That leads us to believe that Mayor Gimenez may know something that we don't.

Now the only question is..."Is the President strong enough to send Randal Nardone to prison?"

Watch how things unfold!

All Aboard Florida lied to Bond Inverstors about Collateral

All Aboard Florida

After Fortress Investment Group bought Florida East Coast Industries, it kept all real estate operations with Florida East Coast Industries and put all railroad operations with Florida East Coast Railway, said Bob Ledoux, senior vice president and general counsel of Florida East Coast Railway. In late 2007, he said, the parent company provided an easement to a subsidiary, later renamed All Aboard Florida, giving it exclusive rights to passenger traffic and the right to build a second track along the existing corridor.

Fortress has hired Holland and Knight to have the zoning of their real estate paralleling the tracks re-zoned to residential so houses can be built and sold off. Fortress's plan has been met with resistance from Homeowners from Homestead to County line in Dade County. Now Holland and Knight has to meet with Dade County officials and bully them into changing zoning.

"We didn't spend a lot of time looking at it just because we saw it as an equity play," said Michael Sohr, a high-yield portfolio manager at AllianceBernstein. "If you are moving freight in and out of Florida, it's the only place you can go. If anything were to go wrong with the passenger rail, people believe Fortress will do whatever it takes to make it work, because it is so invested in the railroad."

Will bond investors have anything to collect if All Aboard Florida default?

All Aboard Florida Sells $880 Million in Junk Bonds!!!

Florida East Coast Railway

Jacksonville, Fla. (Jan. 19, 2011) – Florida East Coast Railway completed a successful refinancing through the sale of $475 million of six-year senior secured notes at an interest rate of 8.125 percent.
“We are very pleased with the outcome of our refinancing, which we believe will position Florida East Coast Railway to capitalize on exceptional opportunities for growth,” said James Hertwig, president and CEO. “The pricing of the senior secured notes we issued today was very attractive, with investor demand reflecting the strong underlying fundamentals of our company. We also extended the maturity of our long-term debt to 2017, which will provide significant capital flexibility going forward. We look forward to continuing to build our business from a very solid financial base, with a focus on what we believe are extremely attractive opportunities to grow our franchise through disciplined investments.”
Bank of America Merrill Lynch served as the bookrunning manager for the sale.

The Port of Miami is also restoring its railway connection to the FEC's Hialeah rail yard with money provided under a federal stimulus program.
With the canal's widening project under way, South Florida's ports want the big ships to stop here first and unload containers onto the FEC Railway for fast delivery all the way into the nation's heartland. (The FEC connects with some of the nation's biggest railways systems, such as Norfolk Southern and CSX.)
 

 All Aboard Florida

All Aboard Florida, a unit of Fortress Investment Group LLC (FIG), issued $405 million of debt to help finance a high-speed railway along the state’s eastern coast over the opposition of some local residents.
AAF Holdings LLC sold 12 percent, five-year bonds with a payment-in-kind toggle option, which allows interest to be paid in additional notes, according to data compiled by Bloomberg. The PIKs, one of the riskiest forms of debt, yielded 10.25 percentage points more than similar-maturity Treasuries. AAF increased the offering from $390 million previously marketed.
The company applied for a $1.875 billion loan from the Federal Railroad Administration, according to Lauren Dunaj, a spokeswoman for All Aboard Florida who works for Finn Partners.

Fortress, the first publicly traded private-equity and hedge-fund manager in the U.S., acquired All Aboard Florida’s parent company, Florida East Coast Industries Inc.

Vincent Signorello

After being denied a requested $1.875 billion in federal loans to help build its high-speed passenger rail line.  All Aboard Florida has modified its financing plan for its proposed passenger rail service, the company's president said Monday. Now, All Aboard Florida instead will use what's known as private activity bonds to finance the project.
The U.S. Department of Transportation must approve this funding mechanism, enabling the bonds to be tax-free for investors. A unit of the state economic-development organization Enterprise Florida, called the Florida Development Finance Corp., will act as the issuer of the bonds, but assumes no financial liability.
Robbing Peter to pay Paul.
 

All Aboard Florida upset Miami Police with 13 hour broken railway crossing.

Miami Police

The abandon rail line of All Aboard Florida that runs thru Overtown, Miami is so poorly maintain that it's railway crossing at 14th Street was stuck in the down position for 13 hours before it was notice by All Aboard Florida. This is the same Company that thinks it can run 32 high speed and 22 cargo trains (54 trains) per day on one line. All Aboard Florida and it's sister company Florida East Coast Railway, both owned by Randal Nardone will run on the same line, and are displaying poor management and poor judgment. Randal is going to kill someone if he isn't stopped.

 

Miami Police don't look happy

Video of the Miami Police being held up because of All Aboard Florida's broken railway crossing. These are the same concerns the residences of Martin County have.

CHANNEL 7 NEWS MIAMI REPORT ON ALL ABOARD FLORIDA ARREST.

Channel 7 News Miami report on All Aboard Florida unfairly arresting poor Blacks in Overtown Miami. Randal Nardone, Wesley Edens, and All Aboard Florida has been caught criminalizing poor Blacks so they can be easily relocated. As we reported in an earlier post All Aboard Florida attempted to purchase block 56 in Overtown to build their headquarters. Their plan was to have the people in Overtown deemed criminals and removed, and replaced by a more approved class of people Once again the people of Overtown are standing up.

Clarence Woods action's will land him in prison

Clarence Woods the executive director of SEOPW CRA has taken property from stakeholders in Overtown, rehabilitated the properties raised the rent and collected a profit, all to the benefit of himself. This is not only a conflict of intrest, but also a criminal act. If Clarence Woods don't correct his wrongs his actions will land him in prison.

Overtown has stopped Randal Nardone and All Aboard Florida in Their tracks

Overtown has stop Randal Nardone and All Aboard Florida from moving forward on a $250,000,000 deal. Randal Nardone had planned to build All Aboard Florida's headquarters in Overtown on block 56 in an effort to take over the poor African American Community. Thanks to some savvy legal maneuvering Randal Nardone and All Aboard Florida has been stopped in their tracks.  

All Aboard Florida Bullying In Secret Meeting

Vice President Rafael Rodon sitting behind his team of bullies, trying to bully the local politicians. All Aboard Florida held a secret meeting to close several streets around their purposed train station. Voters were told no streets would be closed at the building of the train station. Now the Voters are being back doored.

Edduard Prince Being Interviewed By Reporter Wilson Sayre From WRLN

 Today at 11:00am Edduard Prince was interviewed by reporter Wilson Sayre from WRLN. The interview was about Overtown’s residence being arrested for crossing the railroad tracks. If you are interested in helping us to put a stop to Florida East Coast Railway Police arresting, harassing, and causing the Overtown community stress please email us at Updatingtheworld@gmail.com .

AL Crespo Report: The Most Dangerous Street In Miami

Written By: Al Crespo May 27, 2014

Website: www.crespogram.

 

Between August 1, 2012 and July 30, 2013, the Florida East Coast Railway Police arrested 231 people for trespassing when they walked across the railroad track in the photos above.

From a review of the arrest reports and in talking with some of the individuals who continue to walk across the railroad tracks, their real crime was being poor.

The photos above are of NW 17th Street between North Miami Avenue and NW 1st Avenue, and the people arrested were people who for the most part lived on the Westside of the tracks in Overtown.  Many were going or coming from work, or the Publix grocery store on Biscayne Boulevard, or from any number of other locations on the Eastside of the tracks.

 

They crossed the tracks here because it is the only open section along the tracks between 14th and 20th street that allows one to cross the tracks. When you’re poor - $11 a day poor - and have to walk, the most direct path between two points is always going to be the way you want to go.

For years, this stretch of track was vacant, but a couple years ago the FEC Railway company started refurbishing the track to allow cargo containers to be moved from the Port of Miami to staging areas in Hialeah, and no one disputes the issue of safety when people walk across railroad tracks, but at the same time, the frequency of arrests along a very small portion of the track from roughly NW 8th Street to 20th Street that borders the poorest section of the poorest District in the City of Miami cannot be ignored.

I live in Miami Shores, a predominately White, middle and upper-middle class Village where people walk their dogs along the track all the time, and in checking with local police no one has ever to their knowledge been arrested for trespassing on the FEC tracks.

Most folks who were stopped by the FEC Police received an Arrest Complaint like the one below.

Others weren’t so lucky.

Edduard Prince managed to piss the cops off when he stood up for his rights, and ended up being arrested.  Instead of getting mad, Prince filed a lawsuit.
 

 To his credit, Nazeribe Ihekwaba, the Director of Public Works for the City reached out to the FEC earlier this month in an effort to make the 17th Street crossing a legal thoroughfare.

 

 

In addition, I ran into attorney John De Leon, who does a lot of civil rights and first amendment legal work, and he indicated that he had heard about this situation and was interested in talking to folks who might have been arrested for crossing these railroad tracks.  His phone number is 305.740.5347.

The reason why I titled this story as “A Hidden Cost Of How Income Inequality Affects Poor People In Miami,” is because these Arrest Citations become a part of a person’s “criminal record.”

In checking with the Public Defender;s Office I learned that every year as many as 50,000 people in Miami-Dade County are arrested or charged with a misdemeanor - these trespassing charges ARE misdemeanors - and even though the courts have been throwing them out as fast as they’ve been filed - the way in which employers today rely on internet background checks means that these charges can have an impact on hiring, housing and any number of other decisions.

That’s one hell of a price to pay for wanting to walk home or to work the quickest way possible.

It’s Miami, Bitches!