Monday, August 11, 2008

ASU professor's neglect irks Superior officials

[Source: Ryan Gabrielson, Tribune] -- Glenn A. Wilt Jr. has taught scores of Arizona State University students about finance and real estate investment during his 45 years as a business professor. But officials in Superior are puzzled at what guided Wilt to purchase many of the tiny mining town's abandoned theaters, shops and houses only to neglect the structures. The professor has amassed a vast real estate portfolio the past two decades, including most of downtown Superior. But dozens of his buildings are collapsing; a few have become unsalvageable ruins. "He seems to feel these falling-down structures are going to be beautiful someday and that there will magically be the money," said Todd Pryor, Superior's fire marshal.

[Note: To read the full article, click here. Photo source: Jennifer Grimes, Tribune.]