As San Francisco Leads a New Economic Upswing in the State, It's Time to Act UnnaturallyBy John Zipperer
The $25 million man, as I called him, was the symbol of California’s boom-or-bust economy. In the early 1990s, when California was struggling through one of its cyclical busts and commercial real estate in particular was hit hard, this man was $25 million in debt.
The $25 million man was a commercial real estate developer and consultant. He had rung up his debt during the go-go times of the late 1980s and very early 1990s, but when the market swung back — as it always will — he was ...