Destiny USA, Syracuse’s mammoth mall, faces a crisis of debt and uncertainty (Part 1)
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Destiny, New York’s biggest shopping mall, is buried in an almost-unimaginable load of debt.
Pyramid Management Group, the mall’s owner and operator, owes $715 million on the property. That has not changed much since Pyramid opened a big addition in 2012 and changed the mall’s name from Carousel Center to Destiny USA.
Meanwhile, time and some harsh changes in the retail business have pummeled Pyramid. The mall is now worth $203 million, according to a recent appraisal.
Think about it: $715 million owed on a mall worth slightly more than $200 million.
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BigLaw firm mostly goes meeting-free this week to address fatigue
Image from Shutterstock.
Dentons banned most meetings this week for lawyers and business professionals to make it easier to catch up on large projects or to take time off.
It’s the second time Dentons has implemented a no-meetings week, Law.com reports. The first was the last week of December. This time, Dentons U.S. CEO Mike McNamara copied and pasted the December memo into a new email.
The pause applies to standing meetings, but not those tied to client and project deadlines.
“We have standing calls that are important, and particularly important in the virtual world, for connectivity, team building and culture,” McNamara told Law.com. “But we asked, ‘Can we step back from them and use that time to allow colleagues to refresh, charge batteries, switch off, and have time to feel like they can get away without missing out on the team?’ ”
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