The project is broke, and will remain so for a while. Unfortunately it is a cash flow problem, which is usually very serious in the face of tightening credit... and will only make credit even scarcer.
I have admiration for the vision/ambition of the project, but not the financial strategy and leadership. I don't know what b-school, if any, those clowns went to but they ought to ask for their money back.
However, it is unlikely the world is ending... times like these come and go. I suggest you wait for prices to come down to half their value to a third if you were thinking of buying. IMO, it is only at those prices that you are getting fair value for your dollar.
Eventually, this project will be finished... so if you are in it, and don't need the money (read: you weren't one of the foolish speculators) for 5-10 years... don't sell. The prices ought to have retraced to what they charged you by then.
I have admiration for the vision/ambition of the project, but not the financial strategy and leadership. I don't know what b-school, if any, those clowns went to but they ought to ask for their money back.
However, it is unlikely the world is ending... times like these come and go. I suggest you wait for prices to come down to half their value to a third if you were thinking of buying. IMO, it is only at those prices that you are getting fair value for your dollar.
Eventually, this project will be finished... so if you are in it, and don't need the money (read: you weren't one of the foolish speculators) for 5-10 years... don't sell. The prices ought to have retraced to what they charged you by then.