September 7, 2011
Creative Destruction in Kansas City?
The prospect for job seekers in America is dismal. The Vice President even said that many of the lost jobs aren't coming back. But if we ran our enterprises more carefully, the employment situation would be even worse. There's a lot of "digging holes and filling them back up" going on, which is to say: unproductive activity. A prime example of this is the case of the West Edge project in Kansas City, Missouri. Kevin Collison of The Kansas City Star reports: The Polsinelli Shughart law firm is going to the West Edge, ending one of Kansas City's biggest development fiascos, but at a cost: the demolition of the unique office building designed by Moshe Safdie. The deal to be announced today calls for the nearly completed structure, conceived as the home of the Bernstein-Rein advertising agency, to be dismantled. ... The building's razing punctuates a star-crossed development debacle that personally cost Bernstein at least $20 million and lenders almost $100...(Read Full Post)