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Durham firm departing top floor of Chase Tower

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Tim Durham’s Obsidian Enterprises Inc. plans to vacate the top floor of the state’s tallest building next month, real estate sources say.

The leveraged-buyout firm subleases the 48th floor of downtown’s Chase Tower from JPMorgan Chase & Co. but hasn’t paid rent for a couple of months and has agreed to give the space back.

Obsidian has been closed since Nov. 24, when FBI agents converged on the office and seized documents and computers. Agents simultaneously raided another Durham company: Akron, Ohio-based Fair Finance Co.


Federal prosecutors alleged in a court filing that day that Fair operated as a Ponzi scheme, using money raised from selling investment certificates to pay off earlier investors.

Durham could not be reached for comment this morning.

Obsidian was committed to the space until 2020, when Chase’s lease as anchor tenant comes up. It signed the sublease in 2002, a short time after the bank moved its executives offices to a lower floor.

 

 

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  1. Kent's done a good job of putting together some good guests, intelligence and irreverence without the inane chatter of the other two shows. JMV is unlistenable, mostly because he doesn't do his homework and depends on non-sports stuff to keep HIM interested. Query and Shultz is a bit better, but lack of prep in their show certainly is evident. Sterling obviously workes harder than the other shows. We shall see if there is any way for a third signal with very little successful recent history to make it. I always say you have to give a show two years to grow into what it will become...

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  3. Straight No Chaser

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  5. Gary, I'm in complete agreement. The private entity should be required to pay IPL, and, if City parking meters are involved, the parking meter company. I was just pointing out how the poorly-structured parking meter deal affected the car share deal.

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