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Despite these efforts, and $49.5 billion in bailout money, General Motors filed for bankruptcy in June 2009 and spun off a holding company to handle its idle properties, Motors Liquidation Corp.
Pearse described it as an ideal way to make use of idle properties.
It leveraged more than $1 billion in public and private funds for cleanups and created thousands of new jobs, while enabling hundreds of communities to bring idle properties back into productive use.
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This isn't the first time that the White House has suggested selling off idle property.
The new laws also say that co-ops can be formed with as few as three people, and that in addition to converting state businesses into co-ops — with first preference given to workers already there — co-ops will be able to bid for leases of idle government properties.
Mined in Greece and known for a crystalline color resembling refined sugar, the stone sat idle because property owner Gulam Jaffer wanted crews with experience handling the rare material, Poston said.
Despite being one of the largest financially struggling landowners in the city, the San Francisco Unified School District has largely failed to actively manage its holdings, leaving a number of valuable properties idle for years.
This has created a new class of inactive landlords, often elderly or living abroad, who tend to leave their property idle.
But connections alone cannot explain multiple eight-figure deals when similar properties sit idle for months.
He points out that there is little unproductive stock, as barely 4% of commercial or residential property sits idle.
Babes in Toyland are in their late 40s and early 50s now, and if the idle discussion of desert property prices suggests a gentle easing into midlife, the guitars, amps and drum cases currently being shuttled into the venue behind them tell another story.
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