We include the South Shore Savings Bank of Weymouth and Thorndike Development press release exactly as it was prepared. Mind you, we never received a copy but one was e-mailed to us from someone who had. The announcement was made by “blind” e-mail which means that the receiver list was hidden.

One can only guess why such ado was made over the securing of a $2.5 million deal involving the ability to proceed with basic engineering that one would think Thorndike could cover on their own. Another issue leads to conjecture that the loan was secured by something of like value. Could that security be the O’Donnell property itself or through South or Central American holding we are told O’Donnell possesses… Costa Rica we are told.

At any rate, one can’t be wetting their pants over a loan representing about 7% of the 730 unit project, not even factoring the commercial aspects of the enterprise.

One could also take the position that it was foolish for Developer Lloyd Geisinger to make an announcement at all. It may have worked better to create the appearance of being self capitalized by doling out funds as they are required thus giving the impression that you are in a strong position of solvency. This announcement causes more concerns then comfort.

It should be pointed out that Kingston opportunist R. Lindsay Wilson, who went from public official with oversight over the 40-R process to Geisinger lackey and partner is strangely left out of his supposed role of Project Manager. You might have thought that Lloyd and Boy Wonder would have shared the good news.

Meanwhile, one can draw a conclusion that more money will be needed and a plan must be devised to keep the dollars flowing. $2.5 million can’t get you what it used to these days. Gravel is probably the answer.

The O’Donnell/Geisinger connection may surely have their eyes and noses at sand and gravel. With the number of 18 wheelers coming in and out of the new site of Shangri La you’d think the rush was on. There are only four ways that material can exit the property:

1. Tell ‘em that it was brought in a long time ago from someplace else and that you’re simply removing stockpiled material.
2. Tell ‘em that it is still part of the excavation within the MBTA right-of-way and pretend that mining requires no earth removal permit (By law it does).
3. Talk the MBTA into enlarging the right-of-way so you can excavate forever (using the mythology established in the previous point).
4. Submit a subdivision plan that shows you need to place 1021 Kingston’s Place at or below sea level.

Of course restoration has never occurred at the O’Donnell Pit so our town fathers would probably be jake with all of the above. One thing is for sure…we got a long road to hoe before this project begins to further define itself. By that time the town may very well want to get on the good side of South Shore Savings of Weymouth in order to float us a loan. Welcome to Tombstone.

Welcome to Tombstone.