Commonwealth Magazine reports Mel Miller has put his "his stunning New Hampshire vacation home" on the market to repay the the $278,000 or so he owes the BRA for a loan that helped keep his Bay State Banner afloat in 2009.
The loan was for $200,000, but, you know, interest.
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Unsettling
By Lunchbox
Thu, 10/10/2013 - 9:10am
There's something unsettling about the Mayor / the City / any government extending loans to newspapers, on both ends - making the loan then calling it in.
"Boston Mayor Thomas Menino pushed the Boston Local Development Corp. to provide the original $200,000 loan in 2009 to help the newspaper reopen its doors after it briefly shut down"
Why couldn't Miller have sold
By Boston Bastard
Thu, 10/10/2013 - 9:39am
Why couldn't Miller have sold his vacation home before taking a loan from the city?
Uhhh, because he didn't want to??
By merlinmurph
Thu, 10/10/2013 - 9:52am
I guess he figured that he'd need a short-term loan to carry him thru a period and he didn't need to sell his dream home. Why sell it when you can get a loan? Things didn't quite work out that way....
total BS
By aging cynic
Thu, 10/10/2013 - 10:58pm
If in fact this place in East Cupcake is worth even half of what he's asking,he could have done a cash out re-fi and paid off his debt. That presumes that
a. he wasn't planning on blowing off the BRA and screaming racism
b. he wasn't just as over-leveraged in NH as he is in MA
c. he doesn't read this blog and so is ignorant of the fine financial sponsors offering to consolidate loans of $15,000+.....
Why save responsibly for a
By anon
Thu, 10/10/2013 - 10:41am
Why save responsibly for a car you can afford when you can just lease a luxury model 3x more expensive than you could ever buy!
Does anyone even read it?
By 413
Fri, 10/11/2013 - 1:05am
I have never once seen anyone on the T reading the Bay State Banner. Never.
I bet you'd see people reading it on the bus, though
By Ron Newman
Fri, 10/11/2013 - 1:37am
Much of the neighborhood most served by the Banner has buses rather than subway trains.
I read it every week
By Billy
Mon, 10/14/2013 - 5:51pm
Next time I will make a production of it, so that people know what I am reading. And yes to the other reply - mostly buses.
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