top
From the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature
Sun Aug 28 2011
Residents Protest Sale of Apartments to "Vulture Capitalist"
Sun Aug 28 2011
Wells Fargo Breaks Promise to East Palo Alto Tenants
“Don’t Sell To Zell!” shouted East Palo Alto tenants and supporters, as they rallied on August 22nd in front of a Wells Fargo branch in downtown Palo Alto. The demonstrators protested Wells Fargo’s pending arrangement with investment group Equity Residential, of which Sam Zell is the founder and chairman. The proposed sale would transfer ownership of more than half of the rent-controlled housing in East Palo Alto.

East Palo Alto is one of the few affordable communities on the San Francisco Peninsula and is home to many people of color. Sam Zell is a well-known opponent of rent control, and has jokingly called himself a "vulture capitalist". His company, Equity LifeStyle, has sued multiple California cities to invalidate local rent control laws, and funded a statewide ballot measure to end rent control in California.

Wells Fargo made a stated commitment to involve the community in transitioning the property to new ownership. Protesters accused the bank of breaking their promise to East Palo Alto tenants.

photoRead more | video Videos: 1 | 2
12/07/16 Community Memorial for Richard Perkins Jr. on the 1-Year Anniversary of His Murder by OPD Front Page | Police State and Prisons | Racial Justice | East Bay12/03/16 Western States Petroleum Association: The Biggest Lobby Group You've Never Heard Of Front Page | Environment & Forest Defense | Central Valley | California | U.S. | Government & Elections | Santa Cruz Indymedia12/01/16 Woman Used As Salami Tray at Altai Brands Event in Las Vegas Front Page | Drug War | Womyn | California | U.S. | Santa Cruz Indymedia11/28/16 Collective Seeks to Open Social Justice Coffee Co-Op in Oakland's Fruitvale District Front Page | Global Justice and Anti-Capitalism | East Bay11/27/16 Attendance at Freedom Sleepers City Hall Sleepouts Remains High After 16 Months Front Page | Police State and Prisons | Health, Housing, and Public Services | Government & Elections | Santa Cruz Indymedia11/27/16 National Lawyers Guild Confronts Oakland Police Brutality During Early Anti-Trump Protests Front Page | Police State and Prisons | East Bay | Government & Elections11/27/16 Nationwide Solidarity as Police Escalate Violence Against Water Protectors Front Page | Police State and Prisons | Environment & Forest Defense | Racial Justice | Global Justice and Anti-Capitalism | Central Valley | San Francisco | East Bay | Peninsula | U.S. | Government & Elections | Santa Cruz Indymedia11/21/16 Memorial Fund Established for Luke Smith After Sheriff's Deputies Kill Him Front Page | Police State and Prisons | Santa Cruz Indymedia11/20/16 Center for Convivial Research and Autonomy Documents BART Police Violence Front Page | Police State and Prisons | Racial Justice | San Francisco | East Bay | California11/19/16 Renters Win in Three Cities, But Measures in Burlingame, San Mateo and Alameda Do Not Pass Front Page | Health, Housing, and Public Services | South Bay | East Bay | Peninsula | California | Government & Elections11/19/16 SCPD Officer and Wife Fuel Take Back Santa Cruz Witch-Hunt on Social Media Police State and Prisons | Indymedia | Santa Cruz Indymedia
Related Categories: Peninsula | Health, Housing, and Public Services | Front Page
Tell CAL FIRE to Protect Old-Growth Redwoods Committee for Green Foothills (1 comment) Wednesday Nov 16th 10:44 AM
Mountain View: No Dakota Pipeline & Trump Protest R. Robertson Tuesday Nov 15th 10:45 PM
Palo Alto: No to Grabbing/You are Not My President R. Robertson Sunday Nov 13th 12:39 AM
Renter control ballot measures pass in Oakland, Richmond and Mountain View Lynda Carson (1 comment) Wednesday Nov 9th 3:10 PM
More Local News...
[ × close ]
Millions of Acres of Forest Will Remain Protected for Marbled Murrelets in WA, OR, CA Center for Biological Diversity Wednesday Aug 3rd 3:37 PM
Apple's social plan to beat Facebook IndyRadio/Roknich Wednesday Feb 17th 3:32 PM
Feds Launch Review of Endangered West Coast Orcas Center for Biological Diversity Wednesday Jan 27th 5:18 PM
Apple, the State and Social Rights Mark Fliegauf and Hans Springstein Monday May 12th 6:01 AM
More Global News...
[ × close ]