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Something I'm curious about. Weingarten insists it has to be a "high-end destination" to make economic sense. Are they currently losing money on the theater? It's hard to see how the place survived in business for more than 60 years, and then now all of a sudden it has become this terrible economic burden on Weingarten. What is it that has changed to make them want to demolish it? I keep thinking it's out of spite as much as economics.

*barf* This guy's remarks are so fatuous, on so many levels.

i think what weingarten means is that the potential for higher leases exist in the area and/or the current structures do not allow for larger stores with more square footage. it is a hotspot and they want to capitalize on it. it must not be meeting their particular profit margin requirements.

it would be a great opportunity for weingarten to be a good community partner and forego the "expected" or "potential" profit margin. it would be a good opportunity to preserve history and increase profits. it might take extra planning or delayed profits. it can be made to work and has in other cities. weingarten simply does not have the will to do it.

my opinion of weingarten will forever be influenced with how they deal with this property and the alabama theater.

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i think what weingarten means is that the potential for higher leases exist in the area and/or the current structures do not allow for larger stores with more square footage. it is a hotspot and they want to capitalize on it. it must not be meeting their particular profit margin requirements.

Since the company is public, wouldn't we be able to tell by checking out their financials?

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Bach, you're absolultely right.

When he says,

"We try to be good corporate citizens," he said. "We're a public company. And that means we have fiduciary responsibilities to our shareholders."

he's trying to imply that his fiduciary responsibility to shareholders consists of pursuing profit opportunities even to the extent of destroying local landmarks. Like so much of the drivel he spews in that article, it simply isn't true. Of course public companies have to pursue profits - that's what they're there for - but nowadays no respectable view of corporate governance holds that companies should do so contrary to the interests of the communities in which they operate. That's what "good corporate citizenship" is about.

I would point out further that while Weingarten may well be within their legal rights to demolish the theater, "good corporate citizens" might wish to do more than simply meet legal minium standards. Just because something is legal doesn't mean it is the right thing to do, and that's really what the issue gets down to here.

Btw, a guy from Houston Mod mentioned that they are working with GHPA and may try to put an awareness-raising ad in the Chronicle. I think continued publicity is a good idea. The response from City Hall has been less than overwhelming.

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Well, now that I have resigned myself to thinking both will be goners, all I can hope for is this;

They rip everything down and put in generic shops and totally lose the great "feel" of the neighborhood. People then realize that much of the same things can be found downtown at the Pavilions. Weingarten then loses its shirt because there is no more historic shopping center to lure the old monied Houstonians and the people that used to head to dinner and art films are now completely heading to downtown's Angelika and Pavilions instead!

Edited by KinkaidAlum
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As I understood Drew Alexander, he believes his duty toward shareholders is to make them as much money as possible without breaking any laws.

And really, isn't that what the market demands? Last time you allocated money in your 401(k), did you check precisely how all those mutual-fund dollars were invested? Part of my pathetic retirement savings is socked in an ethical-investments account, but even that doesn't consider historic preservation.

The larger problem, I think, is that the City of Houston cedes these decisions to developers -- and even more frighteningly, to their shareholders, who often don't know or care what they're doing to the city.

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I've been following this post w/ interest since I'm a native Houstonian and love the River Oaks shopping area. I also have a great memory of seeing Casablanca there for the first time in high school w/ a friend. I've also been following it b/c Fred (Uncle Bob to me -still makes me smile to hear him called Fred - can't remember how that started) is my uncle and Allrecords his lifelong work. He's had that store (was at different spot) as long as I can remember. I also loved his record room at their old house as a kid. It was an amazing collection! Anyway, hearing him and his store mentioned made me smile. I missed him last few trips to RO, so your post has inspired me to go down before it's too late. Thanks.

This was also the first place I saw Casablanca, and several other Bogart and Hitchcock movies. It was also the last place I saw 2001 and the only place I've ever seen the Wizard of Oz in a theatre. That was back in the day when they were doing classic double features every day (c. 1982)

I've been one of Fred's customers since he was across the street, and I had a great time in his store last Friday. He played some stuff for me, we talked about stuff we liked; I spent probably an hour there, bought two CD's and a DVD, and left with lots more ideas for future purchases. Not to speak out of school, but he's a little worried about what a B&N across the street would do to his business, though it seems he's doing great now. But I've always known him as Fred. If you want to see an example of someone who truly cares about what he sells and his customers, and makes a thoughtful effort to take care of people and make knowledgeable recommendations, then you need to check him out. Especially if you are in the least bit interested in jazz or classic vocals. His store is exactly the kind of business that I think is worthy of some kind of "cultural fabric" tax break program.

Marty

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couldn't they just up the ticket prices and/or revamp the schedule and movies. provide better parking... I LIKE the idea that it is a theater, I think this many of us are in an uproar more about loosing the theater versus the building itself. just putting another restaurant or retail space in there will still result in us loosing a theater and a destination.

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couldn't they just up the ticket prices and/or revamp the schedule and movies. provide better parking... I LIKE the idea that it is a theater, I think this many of us are in an uproar more about loosing the theater versus the building itself. just putting another restaurant or retail space in there will still result in us loosing a theater and a destination.

i get the feeling that the rent will blow away any try at making more money on tickets and concessions...

as far as parking, i hav never had that hard of a time - of course i probably like walking more than most :blush:

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i get the feeling that the rent will blow away any try at making more money on tickets and concessions...

as far as parking, i hav never had that hard of a time - of course i probably like walking more than most :blush:

I think you're right. Weingarten will simply demand a rent that the theater, or some similarly non-upscale use, could never afford. That way they can force the theater out of business, build their condos, and say it was all driven by "the market". The press release announcing the closing will no doubt say that they really tried to work with the theater, but that it didn't work out because the theater couldn't meet the demands of "the market." It sounds so much better to blame an anonymous "market" rather than their own short-sightedness.

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couldn't they just up the ticket prices and/or revamp the schedule and movies. provide better parking... I LIKE the idea that it is a theater, I think this many of us are in an uproar more about loosing the theater versus the building itself. just putting another restaurant or retail space in there will still result in us loosing a theater and a destination.

Theaters make almost all of their money from concessions. Typically, the percentage of the box office that they get to keep vs. what's handed over to the studio is calculated on a sliding scale that's heavily weighted toward the studio in the first week of release. For example, in that first week the studio may get 90% of the box office take, and the theater 10%, then in the second week the ratio is adjusted to 80/20, and so on. In the modern era where everything is focused on a big opening weekend rather than a slow, word-of-mouth buildup over several months, this system is artificially skewed toward the studios at the expense of the theaters. It's one of the key reasons the exhibition industry is in trouble (almost every major chain has entered bankruptcy over the past ten years).

This is how it works for big Hollywood films and the large theater chains, at any rate - there may be some variance when it comes to indy films and Landmark, but the bottom line is that theaters are typically operating on very thin margins to begin with. My guess is it would not take very much of a rent hike on Weingarten's part to render the RO economically unfeasible. And I agree with the previously-posted sentiments that they'll just gaze skyward and intone the mantra of the hardcore free-marketeers, that the theater's demise is regrettable but it was simply the will of "the market". And another irreplaceable local institution will vanish, thanks to a hard blow from Adam Smith's invisible hand.

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It's not. It's a replica that was built to look like the original marquee. I couldn't find a picture of it online anywhere, but if you compare it with a picture of the original marquee, it's fairly obvious that the proportions and some of the details are different. I believe that there was originally some talk of using of the original marquee when the Village Arcade was being planned, but for whatever reason (previously undetected structural problems due to its age?), it never happened.

yay for bob bailey

http://www.cah.utexas.edu/db/dmr/dmr_resul...d&folder=18

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Maybe the best solution would be if Weingarten would sell the theater to the city, and the city could continue to lease it to Landmark. I know it would sound odd for the city to buy a movie theater, but what the hey, we spent a billion of tax revenue building stadiums for privately-owned teams so a theater shouldn't be a big deal. Of course, Weingarten would need some heavy pushing to sell.

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Lisa, thanks for your work keeping this story going. Weingarten realizes its best strategy is to wait it out and let people forget about it, and then just show up some Sunday night with the bulldozers. Ongoing publicity is the best thing to keep this in front of the public and with any luck save the theater.

It's also great that the focus of the story was that there are alternative uses for old theaters - demolition isn't the only option.

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Lisa, thanks for your work keeping this story going. Weingarten realizes its best strategy is to wait it out and let people forget about it, and then just show up some Sunday night with the bulldozers. Ongoing publicity is the best thing to keep this in front of the public and with any luck save the theater.

It's also great that the focus of the story was that there are alternative uses for old theaters - demolition isn't the only option.

yes, the article is genius. i'm very impressed with the angle lisa chose.

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If this battle is won, the River Oaks needs to name a seat in Lisa's honor. :)

The Chronicle photographer posed Beutel in front of the Bookstop's old theater marquee. A man in a starched white shirt and red tie asked who we were and what we were doing. I thought he might be someone's head of security, but he introduced himself as Drew Alexander, Weingarten's president and CEO. He said he just happened to be shopping for books.

I was reading the article yesterday at the Petrol Station and the sheer irony of this scenario required another pint in itself. Kind of like a hangman having a picnic on the gallows.

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  • 2 weeks later...

Per an ad in the mail yesterday, Weingarten and a car dealer are sponsoring a "Art, Jazz, & Wine Event" at the River Oaks Shopping Center Sept. 29-30. Is this just a spontaneous act out of the goodness of their hearts, or have they hired a PR consultant to help shine the ol' image a bit?

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Per an ad in the mail yesterday, Weingarten and a car dealer are sponsoring a "Art, Jazz, & Wine Event" at the River Oaks Shopping Center Sept. 29-30. Is this just a spontaneous act out of the goodness of their hearts, or have they hired a PR consultant to help shine the ol' image a bit?

after a little searching, i couldn't find anything about it online - is there anywhere we can view this ad?

n/m - here is a little blurb:

http://www.riveroaksshoppingcenter.com/calendar.htm

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  • 1 month later...

http://examinernews.com/articles/2006/10/2...news/news01.txt

Cynthia Rice has lived in her home for 18 years, and on clear nights, she said she likes to look at the sky. But that might change. If Weingarten Realty goes through with its current plans for the River Oaks Shopping Center, she could soon be faced with a three-story parking garage seven feet from her property line.

Rice and about a dozen other residents of Brentwood Drive, behind the center

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  • 2 months later...

i wish - weingarten is just letting this idle and die - then they'll resurrect by knocking it down in the middle of the night (or something of the like)

i just wish they weren't so underhanded about things - i would think opposition would be met better when it isn't crooked

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i wish - weingarten is just letting this idle and die - then they'll resurrect by knocking it down in the middle of the night (or something of the like)

i just wish they weren't so underhanded about things - i would think opposition would be met better when it isn't crooked

No kidding, so no decision date or developement timeline was released, I agree, very sneaky.

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  • 2 months later...

Has there been any further activism for saving the theater? Or have people stopped caring?

Lots of noise and outrage for a week or two and then "Oh look! There's Brittney Spears!" and the whole thing is forgotten.

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I say people, at the moment, must believe that the Weingartens backed down.

Since the wealthy, influential River Oaks people do not want to see the theater go, I doubt that Weingarten will pull a fast one. If he does, he may be cut off socially and politically from the city.

See, if this was a historic theater in a lower-income neighborhood filled with people who do not possess political know-how and power, the theater would be a sitting duck. But Weingarten knows that, since the River Oaks sits next to Houston's richest neighborhood, messing with the theater would be playing with fire.

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