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Watermarke's Imaginary Art, Meruelo Maddux Chapter 11 Check

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Rendering via Gary's blog
DOWNTOWN: At one point, the rental building the Watermarke is supposed to be getting some artwork, but in the meantime, we hear this art was basically "practice" for a company looking to do some imagery for any building. Check out more images. [Gary's Blog]

DOWNTOWN: Yesterday, Meruelo Maddux (which used to own the Watermarke by the way) had a hearing to discuss its bankruptcy. According to the Wall Street Journal, the company was "headed to court Thursday to seek approval of its Chapter 11 plan, which would leave the company’s stock untouched and keep Richard Meruelo at the helm of the company." So what happened? Following the hearing, a spokesperson for Meruelo Maddux would only reveal that "we completed the first inning of a nine inning game." But the spokesman was also hopping on a plane and didn't have time to provide more details. More info next week, hopefully. Also, the WSJ's story includes some accusations by "disgruntled shareholders" concerning Meruelo's mom's involvement in the company. That whole mom-being-involved story is sort of awesome. [WSJ]