Vue From the Observer Front Page: An MCL Nightmare

Readers from out-of-town that don’t get the Charlotte Observer, and that presumably includes the Vue investors, need to understand the story in our previous post is on the front page of today’s newspaper, on the top fold, with a picture of the Vue mostly dark with the caption: “The Vue, which has closed on just 16 of its more than 400 units, looks dark against a foggy sky Thursday evening.”

At some point, a leader has to realize that their strategy is suicidal, and if the leader can’t, then his board needs to. My hope is that the MCL team will take these current events and re-think their approach going forward.

Up to now, in my mind, there have been no bad guys. Yes, it may sound from time to time in the blog like we are mad at the Vue, but we have tried to see things from both sides. There was an unprecedented economic collapse and everyone involved in this transaction has suffered a financial loss. The problem has been that the Vue would not acknowledge the collapse and wanted the buyers to take 100% of the hit. The Vue refused to compromise on prices. They used their very one-sided contracts to beat the buyers into submission. They had a success here and a success there, but overall it has been an abysmal failure. It’s time to change course.

The blog has been the voice of the buyers. We have tried to reflect what buyers are thinking and broadcast those views so that the Vue would have the information it needs to make the Vue a success.  MCL, on the other hand, has been very tight-lipped and shown little transparency. They used the medium twice: once to try to convince us that what happened in Florida at the Vue Orlando wouldn’t happen here (which was wrong, it has); and second to scare us with a lawsuit where a developer won in court forcing a buyer to close.

Maybe the 3rd time will be the charm. I have had folks approach the blog and say, let’s all get together with Vue management, negotiate a compromise, generate some sales and get folks to Uptown! My answer is that I would love to do it but need to do so with a clear conscience. The Vue has to bring its prices back in line with the market. And the time to do that is now.

Imagine if all the energy spent on this blog was going towards getting people excited about moving in; about what its like to experience the Vue from the inside; in essence, having dozens and dozen’s of folks like our friend Dave raving about life at the Vue and living Uptown!

This forum is open to the Vue team. Think about how you want to go from here. More fighting; more battling with your customers; more rancor; or changing course, working towards a kumbaya moment where we both say…we did what we had to do, but let’s put that behind us, and work out something where the 16 who bought are given price relief and where the next 100 are able to close on their units at or near market prices.

My plea to MCL: think about a 3rd communication to your buyers that read this forum and taking a warmer, more conciliatory approach . My feeling is that you still may be able to turn the ship around. Otherwise, it feels to me like you are most certainly headed towards the glacier.

Have feedback? Please write

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