A building is partially covered in graffiti. There are shattered windows and paint is peeling. It is a veritable crack house just stinking up the riverfront. Who's responsible for this outrage? Mayor Dave Bing, that's who.
Fox 2's Charlie LeDuff reports Bing seems to be an expert on bankruptcy because everything he touches seems to go belly up.
There is Bing Steel, his former company. That went bust. Then there is the City of Detroit. The state recently yanked that out of his hands. Then there is the dead fish of Watermark Development.
Back in 2007 before Bing was mayor, he got some investors together and raised a couple of million dollars to build some luxury condominiums. He also got a $700,000 loan from the city, and they let him use a waterfront property. Long story short, Bing became mayor, the project went in the dumper, and the city took the property back. Now the city wants to sell the property for $3 million, but they can't because of the eyesore.
