Most of you think that a contract is a way to force someone to do what you want. That isn't exactly true. The purpose of a contract is to spell out what you expect and to enumerate the consequences should the contractor fail to meet the spec. There's a big difference between the two.
Thank God that some good people pooled their resources and kept the KB doors open. A simple filing of Chapter 7 bankruptcy would have erased any "owing" if blocks because there were probably some other groups that were first in line for any payback. As I see it, besides the land there wasn't a whole lot of worth to be purchased. Every penny had to come from somewhere and the new owners are on the hook for it, with quite a bit of risk involved. As far as reducing the sale price by the amount of blocks "owed", it's a nice idea but when you're paying money for something that is practically worthless there's no way to reduce the cost. In my mind, they are producing those "owed" blocks for free. That's a pretty righteous thing to do. Why didn't they do them all first? Reasons are in Sasquatch's letter, plus there has to be some cash flow to pay the bills. No way around it.
For those who say they would have done it better, WHY DIDN'T YOU? There was every indication that the enterprise was failing. If you have the business sense to take over other failing businesses, why did you let this opportunity pass by? So now you take shots at the people who put THEIR rear ends on the line. Bah!
To the new owners, Thanks for saving an important part of our history. I may never own a Keith Black block, but it is a good feeling to know that they are still being made. Dreams are necessary to our mental health.
