August 19, 2022

Bay area Real Estate Magnate Robbed From Gunpoint, Fears City ‘On Path Of Decline We might Never Recover From’

The chief executive of the world’ s largest industrial landlord was robbed outside their San Francisco mansion last month and called on the gran to address the “ absolutely unacceptable” rise in violent crime in the city.   Hamid Moghadam, CEO of San Francisco-based Prologis, told the  San Francisco Business Times  that several men robbed him at gunpoint outside their home […]#@@#@!!

The chief executive of the tour’s largest industrial landlord was robbed outside his San Francisco mansion last month and called on the mayor to deal with the “ absolutely unacceptable” rise in violent crime in the city.  

Hamid Moghadam, CEO of San Francisco-based Prologis, told the  San Francisco Business Times   that a number of men robbed him on gunpoint outside his home on June 26, getting his Patek Philippe view. The robbery happened within the Pacific Heights neighborhood exactly where tech investor Peter Thiel, Oracle’s Larry Ellison, and House Speaker Nancy Pelosi have homes.  

“ I recognize we reside in an urban environment, yet the  level of crime, including violent behavior, has become absolutely unacceptable , ” Moghadam wrote in a letter to San Francisco Mayor London Breed, the city’s Table of Supervisors, and Chief excutive Gavin Newsom, demanding these to concentrate efforts on enhancing public safety.  

We pay some of the highest taxes , nearby and state, in the nation, yet we have  no sense of protection . Protecting public basic safety should be the government’s top priority — that is the foundation to a successful city, ” he mentioned.  

Moghadam warned: “ I am  seriously concerned   that our city may be so far lower the  path toward decline that we may certainly not recover   — or at least not for a long, long time. ”

He also called Mayor Breed to say if the Bay Region continues stumbling down the path of violent crime, it  wouldn’t take much for Prologis or other San Francisco-based companies to leave town .  

“ I told the mayor very, really directly, ‘ Look, I’m certain in the early ’60s, Cleveland and Detroit were wonderful communities with the auto and steel industries going solid, and they were the center of the universe. Obviously, something occurred. ‘” he said.

“ I would say, right this second,   San Francisco is probably the most dysfunctional city in America , ” he added. “ And we have offices in places like Mexico City and Sao Paulo that are dangerous places. ”

It’s unfortunate that will Moghadam was a victim of the armed robbery to realize the  Bay Area has transformed into a wasteland   of surging chaotic crime thanks to  failed progressive leadership . The town  might never recover   as companies are already getting out of. We  noted   a few months ago:  

The streets are usually dirty. Homeless encampments, garbage, and excrement can be found throughout. Car break-ins are so frequent that it has basically be a non-government-imposed tax for people who arrive here. Of course , some areas are much worse than others, but almost all areas of the city suffer from this decay, in fact it is appalling.

In June,   we wrote   how the city’s Tenderloin district had become a lawbreaker playground.  

Companies like Walgreens have had enough of crime and  closed dozens of stores   around the metro area. Salesforce is one of the biggest companies to  reduce exposure   to the city by subleasing 40% from the building at 50 Fremont St .

There is certainly some good news: Chesa  Boudin, former San Francisco’s chief prosecutor, backed  by leftwing billionaire George Soros, has been booted from office in a  recall vote following   his leadership that helped turn the particular metro area into a harmful place.  

But the damage has been done, and it wouldn’t shock all of us if Moghadam pulls the Ken Griffin-style exit (read  here ) for another state that is business-friendly and has law and purchase.  

Leave a Reply

Your email address will not be published. Required fields are marked *