Sears Tower Bought By British

Sears Tower Bought By British

buzz.yahoo.com

One of the most iconic buildings in the world will soon have a new name. Sears Tower, at one point the tallest skyscraper on earth, will be known as Willis Tower starting this summer.

The Chicago Tribune reports that Willis Group Holdings, a London-based insurance broker, didn't have to pay anything for the name. After consolidating its area offices to the Tower, Willis was given naming rights to the 36-year-old skyscraper. It was a package deal, of sorts.

(visit the link for the full news article)

I've tried looking up the group with little success. I get an official site, and some names of people on the comapny's board, many of whom are tied directly to Lord Rothschild himself. Of course, we know the significance of this.

But the odd thing is this great company with this ton of money that even some of my British friends have never heard of, shows up with Rothschild help and buys one of the most famous buildings in the world. Now maybe I'm seeing too much, or maybe the Rothschild part bugs me, but something didn't feel right. Anyone else think the same?

buzz.yahoo.com
(visit the link for the full news article)

Well I guess you can say it has begun.
They are starting to make there moves.
What happened to having no money?
Economic crisis?Ha!

We're loosing American staples. Budwieser is gone and now the Sears tower. Goodbye America Goodbye.

"What choo talkin' bout, WIllis!" Sorry, I could not resist.

Time-line of the Willis corporation...

www.willis.com...

Originally posted by Ant4AU
We're loosing American staples. Budwieser is gone and now the Sears tower. Goodbye America Goodbye.

Hey we still have Yuengling, that beats the pants off Budweiser any day.

To the OP, I don't think the British company bought the entire tower, they just moved their offices there and renamed it. The title is a little misleading, but the idea is the same.

DrWizard, if they got to actually rename the building.
I think that kind of means they own it

reply to post by drwizardphd


I don't even drink beer could care less about which tastes better or what not. The fact that we are loosing American businesses and staples is the problem

Originally posted by BorgHoffen
DrWizard, if they got to actually rename the building.
I think that kind of means they own it

Willis said it will consolidate five Chicago area offices and move 500 employees into the tower. The company said it is paying $14.50 per square foot in rent and that the naming rights come with no additional cost. But the Sears Tower owners immediately disputed that point. Also, many Chicagoans hit the Internet to criticize the renaming, with some doubting it would take hold in the public's mind. Some of the tower's tenants were mad, too.

Chicago Sun-Times

Emphasis mine.

It seems the Willis Company is taking over a large part of the building, but they're not the new owners.

DrWizard
If they are "Renaming" an historic landmark building, to something else, namely the company's name.
The 110-story Chicago giant will be renamed Willis Tower under a leasing deal announced Thursday.
It means they own it.
No business's actually buy building like this, its all lease.
But it still means you own it.
Remember someone called Larry Silverstein?

[edit on 14-3-2009 by BorgHoffen]

No biggy, New York City is for sell. The Chrysler Building was bought by an Arab from the Persian Emirate one of the seven in the UAE. Citi Group Building by Boston Properties backed by investors from Kuwait, Dubai, and Qatar, Flatiron, and GM buildings as well. You guys forget cash is king in the USA.
Get this the Port Newark Container Terminal LLC. is owned by none other than American International Group AKA-- AIG

[edit on 14-3-2009 by timewalker]

I don't really understand the problem here. Isn't this what Americans believe in? Part of the American dream? That someone can go to America and put down money on a table for something he wants? Hasn't America's 'capitalism' been driven by the idea that money can buy you just about anything?

So what's the beef here? Is it different because it's a 'foreigner' buying up America? If so, how is that different from American firms buying up properties and investments outside of America?

Is it that a someone is able to come along and in a very small way stamp their cultural identity on something 'American'? If so, how do you think people feel about this in Europe or other parts of the world where American firms have sought to homogenise high streets to the extent that they could be anywhere in North America?

Post 2008-2009, America had better get used to this happening as I'm sure there will be a lot more of it to come.

So, what if some wealthy billionaire from USA buys big ben? OR the big wall in china? Perhaps Monchu Pichuu!!! Those coountrys i bet would be almost up iin arms over it.

As a Chicagoan, I doubt that changing the name will make any difference to the locals in what we call it. In fact, I was reading the article on the Sun Times site that was posted above and saw that they had a poll that asked:
"Will you call the Sears Tower by its new name -- the Willis Tower?" The results came in (much like I expected) at 5% (166 votes) saying yes and 94% (2780 votes) answering no out of a total of 2946 votes so far.

Other landmark buildings have been bought and renamed and they either never are called by their new names by a majority of people or it will take a rather long time before people slowly start to associate the new name with the building. One example is the local Rosemont Horizon which is now the Allstate Arena (concerts/convention center). Many people still refer to it as the Horizon and not the Allstate arena. Another would be the one cited in the article with the poll, Comiskey Park which is now renamed U.S. Cellular Field, but very nearly no one calls it that. It is still Comiskey Park.

So, they can rename it, just like many other buildings with much loved names, but they can't force people to call it by the new name. People will stick with what they are familiar and comfortable with.

Take care,
Cindi

Edited to remove link showing poll results. Didn't work. Just take the poll on the Sun Times article page to see current results.

[edit on 3/14/2009 by Glencairn]

Originally posted by ziggy1706
So, what if some wealthy billionaire from USA buys big ben?

Well, I'm assuming you mean the clock tower rather than the actual bell. That would be a little tricky as it's part of the Palace of Westminster.

OR the big wall in china? Perhaps Monchu Pichuu!!! Those coountrys i bet would be almost up iin arms over it.

I find it laughable that the Willis Tower is being compared to the Houses of Parliament, The Great Wall of China and Machuu Pichuu which are all World Heritage Sites. There's nothing like American arrogance or self-importance!

Originally posted by ziggy1706
So, what if some wealthy billionaire from USA buys big ben? OR the big wall in china? Perhaps Monchu Pichuu!!! Those coountrys i bet would be almost up iin arms over it.

A wealthy US Billionaire, to repeat the redundency as inflation hasn't yet caught up with them, did indeed go to the UK and bought Manchester United, the most well known soccer club in the world. A Russian one bought Chelsea.

In europe people only go up in arms when their teams lose... sad but true.

Lary Silverstein?
Leases WTC.
Willis, leases Sears.
Where is the next murder going to happen?

Will they be serving Fish N Chips there now?

That can't be that bad! iTS one of my faves!

Big Willy row

UK insurance broker WILLIS is at the centre of a storm in the US — after buying the naming rights to the Sears Tower.

Locals protesting at the deal in Chicago have dubbed the tower — the world’s tallest building when it was opened in 1973 — “The Big Willy”.

www.thesun.co.uk...

Saw this in the national newspaper this morning. Seemed to be adding a tint of humor to somthing that is realy not funny at all.

I don't what some of you are grumbling about. At least the tower is staying in situ.

In 1968 an American businessman bought London Bridge, it was dissassembled & shipped stone by stone to Lake Havasu City in Arizona, where it now forms part of a tourist attraction.

The indignity of it all !

Roadtrip USA - London Bridge