Quote:
Originally Posted by carmenshoes
Flames owners walking away because of an added $12M on a project with a $600M-700M price tag? Sounds like they were looking for any excuse to back out.
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It wasn't a $600-700m price tag when they signed the deal. As Bingo said upthread:
Quote:
Originally Posted by Bingo
The final decision was made in and around the costs that the mayor eluded to, but both sides have been nervous with the rising costs for the past 18 months.
I may make a decision to cut my losses on a 5% move on a stock price, but if I've lost 30% in the last three weeks it's not the 5% that is the killer ... it's the additional 5%.
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And if the city was pushing to add $12m on before the first shovel was in the ground, when it was still easy for CSEC to back out, how many more extra costs would they have added once construction began and CSEC had no choice but to comply? Neither side can exactly claim to be operating in good faith here.