The big question: Has Waleed and Mubadala invested in Glendale, AZ, and specifically, do they hold the Jobing.com bonds?
The man with lots of clout, and lots of investment ties to the U.S., including Arizona may have tapped into more than just $480,000 parking spots in Phoenix!
Director of Advanced Micro Devices, Waleed Al Mokarrab Al Muhairi is also the COO of the Mubadala Development Company.
Advanced Micro Devices (AMD) has supplied chips to Dell Computer (as obvious as that might seem).
In short, Waleed Al Mokarrab Al Muhairi is of major influence in investment circles in Abu Dhabi, and has a history with Dell, Related Companies, John Buck International, the Carlyle Group, and on and on.
The question after visits to our site from Abu Dhabi, including directly from the Abu Dhabi Investment Council, and ten minutes later from Mubadala themselves begs the question whether Waleed is an investor in the arena bonds. Bonds with sales tax related revenue streams strikingly similar to those involved in Phoenix CityNorth that Mubadala, MSD Capital, and Related Companies all had interest in.
And, has this shaped the bizarre stance and awkward maneuvers of the NHL, the City of Glendale, and others?
Would it also help answer other questions? Like why (of all possible lending sources) was MSD brought in to bail out Jerry Moyes? Coincidence, or because he is related by a business past with Mubadala. As a means of keeping things quiet perhaps?
We know that Mubadala has interest in the U.S., and in Phoenix. How about Glendale too?
Suspicion at the very least by what has been uncovered, and who is interested in this case, as it drags on.
Covering the tracks?
And just for fun, say you were in the United Arab Emirates, and you were concerned that someone might find out you had interest in the Jobing.com arena bonds. Would you do a google search? How about a google search for the original arena name (Westgate Arena)?
Well, if we key in this search in google – “Mubadala Westgate arena bond” (or simply “Westgate Arena Bond”)
….we get this result:
And isn’t it interesting that the page that comes up at the top is the very same article that the folks in Abu Dhabi found.
| 23 Nov | 09:39:31 | IE 7.0 | WinVista | unknown |  |
Abu Dhabi, United Arab Emirates |
Emirates Telecommunications Corporation (IP removed) makeiteighteh.com/2009/09/16/%E2%80%9Cdouble-bubble-or-t-he-real-reason-why-g-lendale-will-not-acc-ept-50-million/ No referring link |
That spawned me to write the next article as the Abu Dhabi connection started to sink in, and led to this visit:
| 23 Nov | 22:12:36 | Chrome 3.0 | WinVista | unknown | |
Dubai, United Arab Emirates |
Iwan Base Station (IP removed) makeiteighteh.com/2009/11/23/growing-evidence-suggests-abu-dhabi-involved-with-jobing-com-arena-bonds/ No referring link |
which was shared with the Investment Council and Mubadala shortly thereafter?
Consistent with this potential search is the understanding that Mubadala and Abu Dhabi want to keep things quiet. Remember the “cloak of secrecy” in Abu Dhabi investments?
A desire to keep a low profile, and thus making sure “nothing turns up” to suggest Mubadala or whoever holds the bond is “find-able”.
While we had visits over time from Abu Dhabi and Dubai, we never had any specific visits until recently from Mubadala (and as mentioned we have had several since a couple of days ago).
Westgate Arena gets this result and page, but not “Jobing.com arena bond”. Whoever may have searched that would have knowledge that the bond name was not listed as Jobing.com because that sponsor was not in place originally. It would have been referenced to “Westgate Arena” only. This would suggest knowledge of the original name, and likely the name on any bond issue.
The more we look, the more we find.
So if you live in Phoenix or other parts of the U.S., and you are low on gas, think of the oil rich. And when you go and park your car, wonder how much the financing for that spot cost.
And then when you wonder why the economy is going south, ask who is stripping you of your money.
If you live in Glendale and are a Coyotes fan, don’t think for a minute that the wealthy that are holding your city hostage won’t ditch out when a decent payoff is offered. That’s why the NHL is not bending over backward to find a new owner for you. It may not be up to them.
Just look to the big boys with the big connections, that are having fun with your tax dollars. Like they need more!
It will help you understand how they get richer and richer.
Additional info on Jobing.com financing:
Arena: Glendale Arena
Date Built: 2003
Facility Cost (millions): $220
Percentage of Arena Publicly Financed: 82%
Facility Financing: $150 M came from the city, which will be repaid through property and sales taxes generated by the arena and its adjacent retail complex. The remaining $30 M came from general obligation bonds for public improvements approved by voters in 1999 and was paid with property taxes generated city-wide. The team committed to pay approximately $40 M for cost overruns.
More on the financing
