According to Ed Hamilton on Living Legends: The Chelsea Hotel Blog, as of May 5, BD Hotels will no longer manage the storied Chelsea Hotel, having been fired by minority shareholder Marlene Krauss who controls the hotel’s board of directors and whose father, a former plumber, put up some of the money to buy the hotel in 1945. BD is thought to be contesting Krauss' decision. This debacle is only the latest manifestation of a pattern of mismanagement at the hotel, formerly the hangout of poets and rock stars, but lately falling apart and losing money. Manager Stanley Bard was fired last year, and BD, according Hamilton, has failed to follow through on a number of promised renovations and improvements. Gawker isn’t too upset, dismissing BD as “douschy new management.” But Hamilton is worried that the new manager might be a “complete nincompoop” named David Elder, who currently works at the hotel and is, according to some residents, a "total lowlife."