Phoenix Associates Land Syndicate (fka PBLSQ)

[valueseeker666]

Why did PBLS go bankrupt in 2001?
Does anybody know?
It certainly does not reflect well on PA. In 1997 they built lots of steel homes, how did it go bad?
Also, in 2003 PA said to expect income of $3.5 Mill. from the pit in both 2004 and 2005.
Reality: Zilch for all of PBLS aside from a one-time gain.
In addition, he seems to frequently confuse sales revenue with net income. When they bought Best Jets he said they had income of $17 Mill., when he meant to say they had sales of that much. The same with other PRs.
I think Ron Blackburn is a good business man, but PA I don't know.
Comments?