Wednesday, July 30, 2008

Stick to your guns!

A friend alerted the Ol' Man and I to this great blog post about the Corti's debacle.


"Teel is the presumptive heir to the Raley's Grocery Store fortune, news accounts always say, though his rather unceremonious departure as CEO of that chain of stores a few years back has many people wondering if the family would prefer to give all the money to the Hare Krishnas, rather than him.

Smiling at the demise of Corti Brothers?

But if anyone was surprised by this, they didn't watch what this same man did at Prosper Magazine last year, the magazine of which he was the major owner/publisher."

I didn't realize that Michael Teel was the owner of Prosper during its rebirth and demise. Having had a friend who worked for them as part of the reinvention of the publication I can tell you that she had no clue the end was nigh when she was hired for their redevelopment.

This guy seems like such a slime! It gives me hope that the majority of the comments on the Bee's articles about this issue support Corti's and recognize the lameness of this situation. The more I think about it, it galls me Teel was actually working to redevelop a site that sorely needed it and now rather than breathing new life into the Andiamo building he's leaving the eyesore empty and driving his competitor out of business.

Like many who have posted on the Bee site I will be boycotting Teel's new project. I just hope that Bee readers who chose to post on this issue have the same resolve.


Anonymous said...

Good Eats is still going into the former Andiamo location. The site is currently under construction.

Liv Moe said...

if Teel did this just to push his competitors out of business that will be beyond the pale!

Anonymous said...

I worked at prosper magazine, too, and your little character assassination of Mike Teel is totally off base.

Did your friend who used to work at the magazine tell you that Mike gave us millions of dollars over the course of three years so we could try to get the magazine off the ground? Did your friend tell you that when Mike finally decided to cut the constant losses and close the magazine that HE PAID EVERY PERSON IN THE COMPANY ALMOST THREE FULL MONTHS OF SALARY AFTER HE CLOSED THE MAGAZINE!?!? Did you friend also tell you that Mike became personally involved in a number of lives to help them find new jobs and other opportunities?

This Cori Brothers situation is so NOT about Mike Teel or Good Eats. There's no conspiracy. Its about a landlord selling out their tenant for a better deal. Corti was paying only 60 percent of market rate for that space (see the Bee story this morning). The new market is paying market rate. Don't you think Corti had a chance to pay market rate before this deal went down? Would his business survive if he was paying market rate for rent? And if it wouldn't survive, then why should it exist? Because it makes you feel good inside to see it there? Give me a break.

Oh, and by the way, my business is struggling, too, since I lost my job at the magazine. Would you mind advocating some city (tax payer) subsidies for me, too?

Anonymous said...

At least you aren't bitter.

Anonymous said...

Anonymous dude: So you worked at Prosper? And now you continue to work for Mr. Teel, correct?

The Corti Bros situation is DIRECTLY about Mike Teel and Good Eats.

Corti's was presented with a fait accompli. They were paying a certain amount of rent and then after 38 years at the location, the landlord told them that they were out.

No negotiations, no nothing... just goodbye. And as far as the 'market value' of the rent.. that location was worth a lot more to Good Eats for one reason: because it eliminated the main competition.

Good Eats engineered the deal specifically to get rid of what would be their closest competitor.

There's business, and then there's using your vast wealth, make that 'inherited wealth' (i.e. unearned by Mr Teel -who was removed by his own family from the family business) to shut down a competing business that has been a pillar of the local community since the 40's. And, if Mr Teel cares SO much about his employees, will he be paying them a decent Union wage with benefits like Corti's does?

Somehow I doubt it.


Billy said...

"And, if Mr Teel cares SO much about his employees, will he be paying them a decent Union wage with benefits like Corti's does?

Somehow I doubt it."


why would you assume that? What would give you any idea at all?

Anonymous said...

I doubt it because people with cutthroat business practices rarely like to have a union involved if they can possibly avoid it.

We'll find out soon enough.


Dane Henas said...

A plot to eliminate your competition by pulling the rug out from under them by outbidding them on what they're paying for rent or offering for a lease is an interesting idea.

Did he do it to Whole Foods at the Andiamo location,too? Will Good Eats end up at both locations, and possibly a 3rd location at 20th & I? We won't know for a while. But if anyone can afford to do it, it's Mr. Teel. What a weasel!

Melly/Melody/or Mel said...


That's what I heard way back when (I was hoping a Whole Foods would go in at Andiamo's) so why is it also going in at the Corti location?? Two "Good Eats"?

Anonymous said...

According to the minimal goodeats website, they are planning two - one "east sac", one "downtown". The 20th/I location is the business offices.

Melly/Melody/or Mel said...

I was at Corti's yesterday and the checkout lady told me that Good Eats began construction inside Andiamos and then backed out of the deal. ??