The Observer printed an interesting article about the man in his ivory tower who’s intent on forcing high-density, high traffic housing on our North Shore:
“Conflict. Then there are some very juicy potential conflict issues: Mr. James is CEO of Blackstone, which four months ago bought about 50 percent of RXR Realty from PA vice chair Scott Rechler. That could make two commissioners business partners in a privately held $4 billion New York real estate portfolio. Govs Cuomo and Christie have agreed to rotate the PA chairmanship, so Mr. Rechler will presumably get that post in the near future.”
So we have two really rich white guys, partners in a $4 billion real estate business, who are also together managing an organization which is supposedly for the public good.
“And especially in the cases of Messrs. Rechler and Cohen, they all owe considerable loyalty to Albany.”
We know Mr. Rechler who donated considerably to Governor Cuomo, and indeed all of our elected officials. Could this be a factor in why the Governor then appointed him as a Port Authority Commissioner?
Are there inherent conflicts of interests being CEO and Chairman of a large, private developer and also residing as a commissioner on the agency that controls nearly all of the transportation and infrastructure projects in the same region that he develops in? Yup.