Some days, you think you've heard it all:
The state of Florida announced on Tuesday it intends to spend $1.75 billion to buy a large chunk of Everglades land from U.S. Sugar, one of a number of sugar companies blamed for polluting the precious wildlife habitat.

U.S. Sugar Corp., one of the largest privately held U.S. agriculture firms, will abandon its Florida sugar plantations and go out of business in six years, handing over about 187,000 acres of farmland to the state's efforts to restore the Everglades, company and state officials said.

The purchase, lauded by environmentalists as the "missing link" in the restoration project, will be paid for with $50 million cash and $1.7 billion in certificates of participation, similar to bonds, that will be sold in public debt markets, the South Florida Water Management District said.
So, the government paid $1.75 billion to kill a company over 187,000 acres?  That averaged out to $9358.29 dollars an acre for land destined to be turned back into swamp.  What a deal, John and Susie Taxpayer. 
 
   

 


 
 
resable on
Re: The Government Is Insane
I guess we start switching to Splenda?
corneliusdurden on
Re: The Government Is Insane
Sorry, that's based on sugar. 
resable on
Re: The Government Is Insane
< Hitting hand to head> ohhhhhhh, thats right, I forgot.
corneliusdurden on
Re: The Government Is Insane
Bummer.
bbmyls2go on
Re: The Government Is Insane
I'd love to hear your reasoning on why this is NOT a good deal.

That land was destined to become overpopulated and over developed and is now a drop in the bukcet to try and restore an ecosystem the government itself (COE) has helped destroy in the last 80 years.

This is something environmentalists and Floridians have been hoping (and voting) for for the past two decades.  The sugar farms are dying and the corporations could well go for greed over public interest.  $10,000 an acre?  In Florida?  That's a bargain.

To call it a swamp, is just ignorance.

astro1701 on
Re: The Government Is Insane
right on that count too..
corneliusdurden on
Re: The Government Is Insane
Restore an ecosystem?  See, you said what I said, but you made it sound better.  I like my way because it gets to the heart of the issue:  They're paying almost ten grand an acre to put Americans out of work and turn farmland back into "pristine" swamp. 

Groovy.  We're running a record deficit going into a recession, and we're worried about stuff like this?  Hmmm.  Americans losing jobs is a good thing?  Hmmm.  All to turn the land back into a swamp?  Yeah, that's ignorance. 

Screw the environmentalists.
bbmyls2go on
Re: The Government Is Insane
They are not paying the money "to put Americans out of work" so your chose of words obviously is meant to show disdain for something that has been recognized by the majority of Floridians (as well as environmentalist, naturalist, and economists) for decades.

And how many workers get SIX years notice that their job is being phased out?

Plus a two year severance package?

US Sugar, long before this deal came about, was already screwing over its pensioners, so if anything, they are getting a better deal this way than if they continued on pins and needles not knowing if they were about to be laid off or whether they were going to lose their invested 'profit sharing' stock plan credits.

From the NYT :

Now that many U.S. Sugar workers are reaching retirement age, though, the company has been cashing them out of the retirement plan at a much lower price than they could have received. Unknown to them, an outside investor was offering to buy the company — and their shares — for far more. Longtime employees say they have lost out on tens of thousands of dollars each and millions of dollars as a group, while insiders of the company came out ahead.

 

The money being used for the purchase has nothing to do with the US deficit - it is coming from sources within the State of Florida that are all ready set up to pay for Everglade projects - the purchase of the land and the decrease in things such as pollution and required infrastructure for development will actually save monies that would have been needed to address those issues.  Ongoing costly plans for restoration of the Everglades aquifiers (something that the US government WOULD have been financially responsible for under a 50/50 deal) will also likely be massively reduced and maybe eliminated by the possibility of restoring the natural flow of the river.  So this deal will actually SAVE the US money.  And I won't even bother going into the fact of how the US subsidizes the sugar industry so the elimination of even a portion of US Sugar may help both the industry and the US in the long term. 

The industrialist have long screwed Americans in regard to human health and animal life but apparently you think because it is an environmental issue it is worthless?  Well, then look at it the way US Sugar is looking at it, a good choice for a foundering business.  And it is not costing the U.S.a penny.  And the state that IS paying for it, is populated by a majority of people who have long wanted this to happen.

A swamp?  Not just a swamp, an ecosystem, they are not the same thing.

SaikotikGunman on
Re: The Government Is Insane
If the states out west had had the sense to do this along the rivers, the flood waters would have had a place to go.  Forget saving money, that would save lives, money, and livelihoods.
astro1701 on
Re: The Government Is Insane
right again!!
008 on
Re: The Government Is Insane
So you want to buy some swamp land in Florida he say to me a long time a go
to think I thought, Yeah right, who would be so stupid to buy swamp land? Should have known!
Hey I hear the Detroit Windsor tunnel is for sale maybe we could all chip in a little bit
no seriously.....
corneliusdurden on
Re: The Government Is Insane
We need to start an eminent domain "Condemned Real Estate" Mutual Fund.
atticsmouse on
Re: The Government Is Insane
yet again, the government has proven its stupidity just to pacify the environmentalists! Don't get me wrong I think we need to STOP BUILDING but don't kill a company who gives jobs to it's people. Our unemployment rate has already skyrocketed lately. JUst don't build any more factories, houses, buildings etc and for the love of monkies STOP BREEDING LIKE COCKROACHES
corneliusdurden on
Re: The Government Is Insane
Agreed.  The housing bubble is taking care of the building, anyway.

 
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