Business

Alaskan John Blomfield brought a fresh approach to Corpus Christi with him and in it maybe some hints for others to be successful with island development. Blomfield who received approval for his project in a record five months told the County Dunes Management Committee, “We intend on meeting not just the letter of the requirements, but the spirit.”

Fortress Hedge fund owned Intrawest continues to restructure in its attempts to avoid filing bankruptcy. Intrawest who was the company that was interested in building a resort with Paul Shexnailder on North Padre Island withdrew its offer after citizens voted against closing the beach to vehicles. Fortress bought the debt laden Intrawest at the peak of the boom and then loaded the company with more debt that was used to fund the buyout. The link to the attached article on Bloomberg explains their situation.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aXLieD352P.M