Thoughts and Opinions On Today's Important Issues

Wednesday, April 14, 2010

Some Info About Matty Moroun

Here are some things that you may not have known about Matty Moroun


That should be his new name after a story was written about him:
  • "Detroit's Donald Trump Is Buying Up Small Lots Across the City...

    His name is not as well known as Donald Trump, but Manuel "Matty" Moroun is clearly a landed force to be reckoned with in his home state...

    how come he doesn't have his own TV show like that other real estate mogul"

This was a comment about the Detroit Free Press articles about him buying property in Detroit.

Wouldn't you just love to see him say to Edgar (aka Eddie): "You're Fired!


  • "Moroun said he buys property in Detroit hoping to provide truck and rail hubs to industry"

    "He concentrates his buying in areas of Detroit once known as industrial and transportation hubs and where he hopes his holdings might contribute to a revival."

While Edgar runs off to Germany and has Lufthansa do a study where we know that City taxpayer money will have to be spent to encourage business to come to our Cargo Shanty at the airport, The Matty spends his own private money to accomplish the same objective.


  • "Today we're buying property on the southwest side of Detroit because that's the only place for rail. ... I don't know why everybody's hell-bent on knocking rail out. They're making a mistake."

DRTP will have to talk to him if they have any hope of building their rail tunnel.


  • "Moroun said he bought land as an active investment, trying to make something happen, not as a passive speculator."

Now here it comes:

  • "I'm not a speculator. I don't sell anything."

So much for the Prime Minister's secret mandate letter to buy the Ambassador Bridge

And to emphasize the point:

  • "Moran, Moroun's corporation counsel, dismissed such complaints. He said Moroun hopes and plans to redevelop as much of his Detroit property as he can.

    "We're not just buying it waiting for someone else to come along and want it and then get a price out of it," Moran said. "We're buying it because we have a game plan. Some of them are short term, most of them are long term, for the redevelopment of Detroit. In the meantime, we try and be as good a neighbor as we can. We pay taxes, and we help the city coffers."

That just follows what he said in the Detroit News in December 2008 if anyone forgot:

  • "The bridge is a living thing," Moroun said. "It's become part of me and I think I've done a good job. It's my legacy. They want to steal it from me but that's not going to happen, I promise."

I am sure that I do not have to remind bureaucrats of the Globe and Mail 2 1/2 page spread either.


I Blogged before that Canada should have worked with him but the Ottawa types refused to do so.

  • "He at times smiled, chuckled, grew pensive, and often urged a Free Press reporter to treat him fairly.

    He complained of being "demonized" and "vilified" in news media reports, and urged a Free Press reporter to "Rise above it!"

Thanks to Line of Sight's BLOG, I forgot what had been written before about him during the FIRA era where he was investigated when he wanted to buy the Bridge. That clearly explains the smear tactics being used against him today:

  • "Moroun often finds himself in court. The Canadians, citing federal law, were demanding 50 percent interest when he took control of the bridge in 1979. Moroun took the Canadian government to court in the United States. The Canadians struck back, launching an investigation into his background, intimating that Moroun had ties to organized crime. The allegation was never proven. After a decade in court, the Canadians capitulated, settling for almost nothing, except an agreement that Moroun make improvements to the bridge."

That tactic did not work before but Canada is trying it again. That is why The Matty has become the most "public" reclusive billionaire ever!

And the Free Press real estate stories and Editorial---timed perfectly in advance of this Friday's pro-DRIC rally.