Friday, June 05, 2009

Steven Udvar-Hazy’s Wealth Drops 82%
Falls to #49 in Los Angeles
Boom & Coast Inn Owner May Be Ready to Sell?!

Los Angeles Business Journal

Lots of the super rich billionaires and centimillionaires in Los Angeles have lost fortunes in the last year as a result of the deepest economic downturn since the great depression. Among the worst hit is the owner of the historic Boom Boom Room and landmark Coast Inn built in 1927.

Steven Udvar-Hazy bought the building nearly 4 years ago, and put the property up for sale two years. The signs are up in the windows were they have been since Memorial Weekend 2007.

As you know, the Boom was rented out last fall to the Laguna Beach Democratic Club, and they held several highly successful fund-raisers there. The Boom was packed and fun just like the good old days before it closed Labor Day Weekend 2007.

As the sign says, contact Joe Smith at Monarch Beach Realty. Make them an offer: 949-489-1100 Let’s get the Boom back open soon!

Business Assistance Committee
Laguna Beach, like all cities is suffering from a drop of revenue. One reason for that is due to the loss of the Boom. It’s not just the loss of sales tax from the club and bed tax from the 24 hotel rooms, but Laguna Beach is far less a gay and lesbian destination resort than it was for over 60 years.

Now that the wonderful
Marks Restaurant has reopened in the Canyon, the gay community is starting to come back. As we approach the busy summer season, we desperately need an anchor bar to really bring back the well-heeled gay travelers that stay in hotels, eat in our restaurants and spend lots of money around town. The gay and lesbian travel market is now a $70 billion a year industry to those who go after it. This revenue source would greatly help Laguna recover from the slowdown, and a brand new reopened Boom Boom Room and Coast Inn would really help.

SAVING THE BOOM” Documentary in 3 Film Festivals!

Two weeks ago lots of Lagunans and other film goers made it to the screening of John Keitel’s incredible film at the
Newport Beach Film Festival. The 35 minute documentary is about the LGBT history of Laguna Beach, and our efforts to SAVE the BOOM!!! “Saving the Boom” also played last Saturday to a packed house at the Long Beach Q Film Festival. And next, THE INTERNATIOANL PREMIERE of “SAVING THE BOOM” will be at the TEL AVIV Gay and Lesbian Film Festival in Tel Aviv, Israel on June 25th.

We are in discussions with the
Laguna Beach Film Society to set up a screening as a part of their monthly program (a lot closer than Tel Aviv). We will keep you posted on that.
Thank you all for all your help and support as we work to SAVE the BOOM – Forever!!!
Best regards,

Fred Karger

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