St Paul/Minneapolis Riots Aftermath

[Old Man Winter]

MSP along with Seattle and Portland's commercial real estate is dying. This will also creep into the residential real estate market like high rise apartments. Who wants to live or work in a place that has civil unrest? Mobs in the streets trying to stop your vehicle and assault you isn't conducive to a vibrant downtown economy. Businesses will move out first then the residential inhabitants will follow.

Sewer reconstruction and Kung flu impacted downtown Minneapolis far more than the riots ever did. Construction is booming in downtown Minneapolis to include multiple high rise apartments. Minneapolis had crime issues downtown long before George Floyd became a household name and it never slowed development. It remains to be seen what happens with the office space as many companies are realizing work from home saves a lot of money. Others are transitioning to smaller spaces and alternating the days people come in to the office.

[Nephrology]

This article makes me wonder about which people in the local power structure have deep insurance interests.

https://freebeacon.com/coronavirus/i...-lives-matter/



This is absolutely diabolical if true.

I don't know about Chubb, but a huge portion of what AIG insures are financial instruments and not commercial or residential property. Financial instruments have done very well.Not surprising AIG is too.

[OlongJohnson]

I don't know about Chubb, but a huge portion of what AIG insures are financial instruments and not commercial or residential property. Financial instruments have done very well.Not surprising AIG is too.

Pepperidge Farms remembers 2008.

[Nephrology]

Pepperidge Farms remembers 2008.

We all do. Our current economy is so wonky I don’t even now what to make of it to be honest. I have a bad feeling it will end poorly.

[DrkBlue]

I don't know about Chubb, but a huge portion of what AIG insures are financial instruments and not commercial or residential property. Financial instruments have done very well.Not surprising AIG is too.

Guess who was the biggest losers if Texas rebated $12bn of supposed electrical overcharges during their Feb. 2021 cold snap?

Guess why the Chair of the Texas Utility had to resign? A few days after a tape of him reassuring Wall Street that he was doing everything to prevent rebates...

On the MSP topic, Target pointedly said they are not returning 3500 jobs to downtown Minneapolis. Those employees may work in the suburbs, but they are Ghandi with the Wind to the MSP tax base. Target’s corporate HQ was attacked and the downstairs retail store looted during the May 2020 unpleasantness.

And the Target announcement came out the week the Chauvin trial began... Four blocks away... Under National Guard watch.
https://minnesota.cbslocal.com/2021/...n-minneapolis/

[Old Man Winter]

On the MSP topic, Target pointedly said they are not returning 3500 jobs to downtown Minneapolis. Those employees may work in the suburbs, but they are Ghandi with the Wind to the MSP tax base. Target’s corporate HQ was attacked and the downstairs retail store looted during the May 2020 unpleasantness.

And the Target announcement came out the week the Chauvin trial began... Four blocks away... Under National Guard watch.
https://minnesota.cbslocal.com/2021/...n-minneapolis/

There's a bit more to it than that. Target has been in the process of shuttering their downtown HQ for several years. Entire floors have been vacant for quite some time. The building is very expensive to maintain and they have two other corporate campuses in the metro area.

[Lex Luthier]

This afternoon I watched as workers laid concertina wire between two rows of chain link & barbed wire barriers surrounding the St Paul PD Western District precinct house.

The Chauvin trial jury is empaneled and the trial starts Monday in Minneapolis, about 7 miles away.

[olstyn]

The Chauvin trial jury is empaneled

Good luck to those poor souls.

[Lex Luthier]

Due to the police-involved shooting in Brooklyn Center (about 10 miles north/NW of Minneapolis) this last weekend and reported elsewhere here,
sporadic looting has started to occur in Brooklyn Center itself, Minneapolis, and Saint Paul. Or perhaps its another convenient excuse; they seem to abound.
There are apparently several instances happening right this minute in the Midway district of St Paul, where most of the 2020 riot damage occurred.

Will update as vetted info comes along.

[helothar]

Due to the police-involved shooting in Brooklyn Center (about 10 miles north/NW of Minneapolis) this last weekend and reported elsewhere here,
sporadic looting has started to occur in Brooklyn Center itself, Minneapolis, and Saint Paul. Or perhaps its another convenient excuse; they seem to abound.
There are apparently several instances happening right this minute in the Midway district of St Paul, where most of the 2020 riot damage occurred.

Will update as vetted info comes along.

7pm curfew tonight for Ramsey, Hennepin and Anoka counties so far