Fed bets big in new push to rescue U.S. economy - Yahoo! News: WASHINGTON (Reuters) - The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market.
The central bank's decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a big escalation in its efforts to drive U.S. unemployment lower. Stock prices jumped, while gold hit a six-month high as investors braced for faster inflation.
Unlike in its two previous bond-buying sprees, the Fed said it would only purchase mortgage-backed securities, hoping in part to unstick a housing sector that Fed Chairman Ben Bernanke called "a missing piston" in the U.S. recovery.
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As the perfessor has noted on this blog, housing is an important sector of the economy. According to the the National Association of Home Builders, housing and housing services account for 17 to 18 percent of GDP. Arguably a very significant part of the economy.
But I question whether goosing up this important sector can alone do the trick, especially when mortgage rates are already at 50 year lows. Homebuyers need stable jobs and incomes to meaningfully participate in the housing market and lenders won't lend unless they have them. That requires increased confidence in all parts of the economy, not just housing.
Thursday, September 13, 2012
Wednesday, September 12, 2012
Associated Press story coming on HOA violence
Bruce Schreiner of AP is looking for people with specific information on this issue.
--------------------------------------------
Professor McKenzie:
Thanks so much for taking the time to chat with me. We’re just starting work on a story looking into the pressures of HOA boards and how that strain can turn violent. We want to write a balanced piece from the perspective of board members and aggrieved homeowners.
If you can let folks from both perspectives know we are looking for people to interview for this story, we would greatly appreciate it.
My phone number in the bureau is 502-583-7718. I am working on this project with fellow AP reporter Dylan Lovan in Louisville.
Regards,
Bruce Schreiner, The Associated Press, Louisville, Ky.
bschreiner@ap.org
bschreiner@ap.org
Tuesday, September 11, 2012
Marjorie Murray's prophetic article from 1994
Marjorie Murray, who runs the Center for California Homeowner Association Law, read my post the other day about the bad deals cities have been making to get sports stadiums, and she sent me this note, which she has graciously allowed me to post here. Way back in 1994, Marjorie wrote an article for California Lawyer in which she pointed out how prison construction was at that time the "silver bullet" for local governments, and how it had the potential to turn bad on them...which it has. And CIDs fit right into this picture of searching for the silver bullet. Read on:
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Evan: I read with interest the posting on sports stadiums as a failed economic development tool for local governments.
Cities and counties across the country are always looking for the "silver bullet" that will get revenues flowing into local coffers.
Nearly twenty years ago I wrote an article for California Lawyer on state prisons as an economic development tool for California local governments. ("Build it and They Will Come," (1994.) Cities and counties, however, chose to ignore the not-so-hidden costs of building a prison in their midst: wear and tear on infrastructure, increased demand for housing needed by prison staff, increased need for police, etc.
Now the prisons are so over-crowded that the courts have ordered inmates back to local governments, which will have to assume the cost of housing them in county jails.
A more recent "silver bullet" has been the thousands of California CIDs, seen by local governments as the ATM machine that would generate sky-high tax revenues. Instead, hundreds of CIDs throughout the state have become wastelands of foreclosed homes whose owners can't pay their mortgages, let alone property taxes. Just ask the City of Stockton if CIDs were the answer to their economic prayers. The city declared bankruptcy in June after going on a spending spree in anticipation of all those tax revenues that never materialized.
There truly is no "silver bullet" for local governments. No one prison, one sports stadium, or single 6000- home CID can rescue an entire city or county. California local governments need to wake up to this fact.
Anyone interested in the 1994 California Lawyer article will find it here at this link: http://www.callawyer.com/clstory.cfm?pubdt=199404&eid=14430&evid=1
Marjorie Murray, President
Center for California Homeowner Association Law
www.calhomelaw.org
3758 Grand Ave., Suite 56
Oakland, California 94610
Wells Fargo Even Sorrier After Second Time It Foreclosed on Wrong House
Wells Fargo Even Sorrier After Second Time It Foreclosed on Wrong House
"Remember that nice couple we told you about last week — the Tjosaas family, whose home in Twenty-Nine Palms was “accidentally” foreclosed upon by Wells Fargo even though the couple didn’t even have a mortgage? Turns out: this was the SECOND TIME that Wells Fargo had “accidentally” foreclosed on that house by mistake, but it’s cool because Wells Fargo remains “deeply sorry” about both “unfortunate situations.”
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I said when I posted on this the first time that somebody should go to jail. Now it turns out that Wells Fargo went after this house "accidentally" twice. Ask yourself if any non-corporate person could do something like this--break into the same house illegally, twice--and not go to jail.
"Remember that nice couple we told you about last week — the Tjosaas family, whose home in Twenty-Nine Palms was “accidentally” foreclosed upon by Wells Fargo even though the couple didn’t even have a mortgage? Turns out: this was the SECOND TIME that Wells Fargo had “accidentally” foreclosed on that house by mistake, but it’s cool because Wells Fargo remains “deeply sorry” about both “unfortunate situations.”
---------------
I said when I posted on this the first time that somebody should go to jail. Now it turns out that Wells Fargo went after this house "accidentally" twice. Ask yourself if any non-corporate person could do something like this--break into the same house illegally, twice--and not go to jail.
Playhouse Eviction | KSEE 24 News - Central Valley's News Station: Fresno-Visalia - News, Sports, Weather | Local News
Playhouse Eviction | KSEE 24 News - Central Valley's News Station: Fresno-Visalia - News, Sports, Weather | Local News: "This is ridiculous," says Becky Rogers-Peck, Aubree's grandma. "There's too much crime and everything else. These lawyers need to be worrying about other things that are way more important than whether or not my granddaughter has a pink playhouse."
Monday, September 10, 2012
From CCHAL: Disabled vet gets elevator (update)
Marjorie Murray at the Center for California Homeowner Association Law sent this release (note: this is a corrected version that Marjorie sent along):
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Disabled World War II veteran David Perrin is finally going to get his elevator.
The 84-year-old has been petitioning his homeowner association board for nearly two years to install a small elevator – at his own expense – so he can get in and out of his home, where he has been a virtual prisoner.
Mai Kai Association (Orange County) formed multiple committees to deal with his request, each committee throwing up more barriers. One of the last barriers was telling him that state law requires all the homeowners to vote on his application. (This is utter nonsense.) Each committee was a different configuration of board members.
One mantra of the Community Association Institute (CAI) – the national trade group for associations – is that boards make “mistakes” like this because they are “volunteers” who don’t know any better.
The Perrin case gives lie to CAI’s claim.
This is not a naïve board – or shouldn’t be, given the professionals advising it.
The board president himself is an attorney. Its property manager is certified by the California Association of Community Managers (CACM); the company she works for – Professional Community Management (PCM) is itself certified by CACM, the trade group for association managers. According to its website, PCM manages more than 125,000 association homes, so this surely can’t be the first fair housing case it has dealt with. In addition, the law firm advising the board – Harle Janics Kannen – is legal counsel to homeowner associations throughout Southern California.
But apparently neither the CACM professionals or the lawyers told the board that disabled Perrin is protected by both state and federal laws – or maybe they did, but everyone chose to ignore them.
The board blocked Perrin’s application with endless requirements and delays. Meanwhile, his health continued to deteriorate as his doctors’ letters certified.
Finally, he sued.
His lawyers retained Marjorie Murray for two months as an independent consultant to review his application, board procedures, minutes, other critical documents, and to testify at trial. She is president of the Center for California Homeowner Association Law.
The case settled ten days ago. Not all the details have been made public, but one thing is certain: after two years of grief, disabled veteran David Perrin is going to get his elevator. But we do have to ask WHY a board paying for so much “expertise” from lawyers, certified property managers, and industry professionals could obstruct his legitimate request for reasonable accommodation/reasonable modification? We still don’t have an answer to that question.
We can only bet that State Farm Insurance isn’t too happy about the settlement, given what it must have paid out in attorneys’ fees to Perrin’s lawyers.
The Orange County Register has done two stories on the Perrin case. Here’s the link to the first story: http://www.ocregister.com/articles/board-370385-fair-sale.html?pic=2 It contains the link to the first story with all the background on this disability rights fight.
We can only hope that the Perrin case will be a wake-up call to homeowner associations across the country – and to the industry professionals advising them….
CCHAL NewsBrief September 10, 2012
---------------------------
Disabled World War II veteran David Perrin is finally going to get his elevator.
The 84-year-old has been petitioning his homeowner association board for nearly two years to install a small elevator – at his own expense – so he can get in and out of his home, where he has been a virtual prisoner.
Mai Kai Association (Orange County) formed multiple committees to deal with his request, each committee throwing up more barriers. One of the last barriers was telling him that state law requires all the homeowners to vote on his application. (This is utter nonsense.) Each committee was a different configuration of board members.
One mantra of the Community Association Institute (CAI) – the national trade group for associations – is that boards make “mistakes” like this because they are “volunteers” who don’t know any better.
The Perrin case gives lie to CAI’s claim.
This is not a naïve board – or shouldn’t be, given the professionals advising it.
The board president himself is an attorney. Its property manager is certified by the California Association of Community Managers (CACM); the company she works for – Professional Community Management (PCM) is itself certified by CACM, the trade group for association managers. According to its website, PCM manages more than 125,000 association homes, so this surely can’t be the first fair housing case it has dealt with. In addition, the law firm advising the board – Harle Janics Kannen – is legal counsel to homeowner associations throughout Southern California.
But apparently neither the CACM professionals or the lawyers told the board that disabled Perrin is protected by both state and federal laws – or maybe they did, but everyone chose to ignore them.
The board blocked Perrin’s application with endless requirements and delays. Meanwhile, his health continued to deteriorate as his doctors’ letters certified.
Finally, he sued.
His lawyers retained Marjorie Murray for two months as an independent consultant to review his application, board procedures, minutes, other critical documents, and to testify at trial. She is president of the Center for California Homeowner Association Law.
The case settled ten days ago. Not all the details have been made public, but one thing is certain: after two years of grief, disabled veteran David Perrin is going to get his elevator. But we do have to ask WHY a board paying for so much “expertise” from lawyers, certified property managers, and industry professionals could obstruct his legitimate request for reasonable accommodation/reasonable modification? We still don’t have an answer to that question.
We can only bet that State Farm Insurance isn’t too happy about the settlement, given what it must have paid out in attorneys’ fees to Perrin’s lawyers.
The Orange County Register has done two stories on the Perrin case. Here’s the link to the first story: http://www.ocregister.com/articles/board-370385-fair-sale.html?pic=2 It contains the link to the first story with all the background on this disability rights fight.
We can only hope that the Perrin case will be a wake-up call to homeowner associations across the country – and to the industry professionals advising them….
CCHAL NewsBrief September 10, 2012
Sunday, September 09, 2012
If You Build It, They Might Not Come: The Risky Economics of Sports Stadiums - Pat Garofalo and Travis Waldron - The Atlantic
If You Build It, They Might Not Come: The Risky Economics of Sports Stadiums - Pat Garofalo and Travis Waldron - The Atlantic:
"This is an altogether too common problem in professional sports. Across the country, franchises are able to extract taxpayer funding to build and maintain private facilities, promising huge returns for the public in the form of economic development...Time after time, politicians wary of letting a local franchise relocate -- as the NBA's Seattle Supersonics did, to Oklahoma City before the 2008-2009 season -- approve public funds, selling the stadiums as public works projects that will boost the local economy and provide a windfall of growth."
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There are numerous examples of cities doing this, and assuming other financial obligations and risks in order to attract businesses.
"This is an altogether too common problem in professional sports. Across the country, franchises are able to extract taxpayer funding to build and maintain private facilities, promising huge returns for the public in the form of economic development...Time after time, politicians wary of letting a local franchise relocate -- as the NBA's Seattle Supersonics did, to Oklahoma City before the 2008-2009 season -- approve public funds, selling the stadiums as public works projects that will boost the local economy and provide a windfall of growth."
------------------
There are numerous examples of cities doing this, and assuming other financial obligations and risks in order to attract businesses.
Saturday, September 08, 2012
Wells Fargo Accidentally Forecloses on Wrong House, Throws Away Couple’s Precious Memories
Wells Fargo Accidentally Forecloses on Wrong House, Throws Away Couple’s Precious Memories
The couple didn't even have a mortgage. Alvin and his father built the house with their own hands. The corporate apology and promise to "right this wrong" are, of course, meaningless public relations ploys, because nobody is actually sorry and there isn't any way to make it right. There have been many stories like this, and I think the only way to address this situation is for the people who ordered it and did it to go to jail. Maybe that would set an example for others and lead to making absolutely sure they are in the right house.
The owners of a modest home near Twentynine Palms lost their cherished possessions after a bank mistakenly foreclosed their residence. A crew broke into Alvin and Pat Tjosaas’ desert home and took everything after being directed by Wells Fargo to secure the structure...
----------------Alvin said the deputy sheriff said, “Good news, we know who took (your possessions)…Wells Fargo. Bad news, your stuff is all gone.” …A spokesman for Wells Fargo released a statement apologizing to the couple.“We are deeply sorry for the very personal losses the Tjosaas family suffered as a result of their home being mistakenly secured,” said Alfredo Padilla. “We are moving quickly to reach out to the family to resolve this unfortunate situation in an attempt to right this wrong.”
The couple didn't even have a mortgage. Alvin and his father built the house with their own hands. The corporate apology and promise to "right this wrong" are, of course, meaningless public relations ploys, because nobody is actually sorry and there isn't any way to make it right. There have been many stories like this, and I think the only way to address this situation is for the people who ordered it and did it to go to jail. Maybe that would set an example for others and lead to making absolutely sure they are in the right house.
Friday, September 07, 2012
Man fatally shoots 1, wounds other at Ky. meeting - Spokesman.com - Sept. 7, 2012
Man fatally shoots 1, wounds other at Ky. meeting - Spokesman.com - Sept. 7, 2012: Hindi was only at the meeting for a short time before he started shooting, police said. Some of the several people in attendance detained him until officers arrived.
David Merritt, 73, a one-time president of the homeowners association, was shot once in the head and died at the scene, said Jefferson County Chief Deputy Coroner Jo-Ann Farmer. The wounded man, whose identity was not immediately released, was hospitalized Friday at the University of Louisville Hospital, Farmer said.
Spring Creek Homeowners Association attorney Mike Kelly told The Associated Press that the group accused Hindi of violating zoning laws. Hindi wrote several letters to Kelly, expressing anger and contempt for the attorney, Kelly said.
-----------
Shades of a similar Arizona incident in 2000 in which an HOA member went postal on the board of directors.
David Merritt, 73, a one-time president of the homeowners association, was shot once in the head and died at the scene, said Jefferson County Chief Deputy Coroner Jo-Ann Farmer. The wounded man, whose identity was not immediately released, was hospitalized Friday at the University of Louisville Hospital, Farmer said.
Spring Creek Homeowners Association attorney Mike Kelly told The Associated Press that the group accused Hindi of violating zoning laws. Hindi wrote several letters to Kelly, expressing anger and contempt for the attorney, Kelly said.
-----------
Shades of a similar Arizona incident in 2000 in which an HOA member went postal on the board of directors.
Sunday, September 02, 2012
How Your Movements Are Being Tracked, Probably Without Your Knowledge | Alternet
How Your Movements Are Being Tracked, Probably Without Your Knowledge | Alternet:
Automated license plate readers, or ALPRs: "Big cities, like Washington, DC and New York, are riddled with ALPRs. According to the Partnership for Civil Justice Fund, ALPRs have become so pervasive in America that they constitute a "covert national surveillance grid." The civil liberties group has mapped the spread of ALPRs, and contends on its Web site that, "Silently, but constantly, the government is now watching, recording your everyday travels and storing years of your activities in massive data warehouses that can be quickly 'mined' to find out when and where you have been, whom you’ve visited, meetings you’ve attended, and activities you’ve taken part in."
--------
And small cities, such as Tiburon, CA, are also acquiring this technology. The idea is to surreptitiously keep track of every car that passes. What is being done with all this information?
Automated license plate readers, or ALPRs: "Big cities, like Washington, DC and New York, are riddled with ALPRs. According to the Partnership for Civil Justice Fund, ALPRs have become so pervasive in America that they constitute a "covert national surveillance grid." The civil liberties group has mapped the spread of ALPRs, and contends on its Web site that, "Silently, but constantly, the government is now watching, recording your everyday travels and storing years of your activities in massive data warehouses that can be quickly 'mined' to find out when and where you have been, whom you’ve visited, meetings you’ve attended, and activities you’ve taken part in."
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And small cities, such as Tiburon, CA, are also acquiring this technology. The idea is to surreptitiously keep track of every car that passes. What is being done with all this information?
Friday, August 31, 2012
State files lawsuit against three board members of The Harbours
State files lawsuit against three board members of The Harbours Recent Local News News and Tribune: The Indiana Attorney General’s Office filed the complaint in Clark County Circuit Court No. 2 against board members Kevin Zipperle, Mary Lou Trautwein-Lamkin and Sharon Chandler, according to a press release from the office. Frank Prell is also named in the lawsuit as a former owner of multiple condominium units at The Harbours, which is located at 1 River Point Plaza.
“Today’s lawsuit is the first of its kind under a new state law allowing the Attorney General’s Office to regulate homeowner associations,” said Gabrielle Owens, director of the Homeowner Protection Unit and Licensing Enforcement Unit of the Indiana Attorney General’s Office. “Board members have a fiduciary duty to serve in the interest of those they represent. Our office is committed to protecting homeowners and will continue to bring actions against violators who misuse their positions for personal gain.”
A state law passed in 2011 allows the Attorney General’s Office to regulate homeowners associations similar to other nonprofit organizations. The office has the authority to bring actions against a homeowner association’s board of directors and in some cases, against association board members.
-----------------
California and other state AGs already have oversight authority over HOA corporations in their role as regulators of nonprofit corporations. But they have historically relegated complaints against HOA corporations to the bottom of the inbox citing lack of resources.
“Today’s lawsuit is the first of its kind under a new state law allowing the Attorney General’s Office to regulate homeowner associations,” said Gabrielle Owens, director of the Homeowner Protection Unit and Licensing Enforcement Unit of the Indiana Attorney General’s Office. “Board members have a fiduciary duty to serve in the interest of those they represent. Our office is committed to protecting homeowners and will continue to bring actions against violators who misuse their positions for personal gain.”
A state law passed in 2011 allows the Attorney General’s Office to regulate homeowners associations similar to other nonprofit organizations. The office has the authority to bring actions against a homeowner association’s board of directors and in some cases, against association board members.
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California and other state AGs already have oversight authority over HOA corporations in their role as regulators of nonprofit corporations. But they have historically relegated complaints against HOA corporations to the bottom of the inbox citing lack of resources.
Thursday, August 30, 2012
The Tacky History of the Pink Flamingo | Arts & Culture | Smithsonian Magazine
The Tacky History of the Pink Flamingo | Arts & Culture | Smithsonian Magazine
This should be of interest to all readers of this blog...
This should be of interest to all readers of this blog...
Wednesday, August 29, 2012
Las Vegas Housing Marking Facing Foreclosure Glut - 8 News NOW
Las Vegas Housing Marking Facing Foreclosure Glut - 8 News NOW: LAS VEGAS -- It's estimated there are thousands of foreclosed homes about to hit the local housing market.
According to banking and real estate insiders, Las Vegas real estate is about to take another big hit, and it could delay the recovery for years to come.
Foreclosure notices continue to be posted on homes around the Las Vegas valley.
"What I'm hearing from sources, is that work has never been busier," realtor Jared Jones said.
According to real estate experts, a new wave of foreclosures is about to hit the market. It will most likely turn what has been a seller's market, for the last few months, into another foreclosure free-for-all. It could potentially drive Las Vegas Home prices down even further.
------------
Despite more positive numbers lately for the residential real estate sector, the Las Vegas area -- a Privatopian province of some of the biggest common interest developments in the nation -- is still convulsing.
According to banking and real estate insiders, Las Vegas real estate is about to take another big hit, and it could delay the recovery for years to come.
Foreclosure notices continue to be posted on homes around the Las Vegas valley.
"What I'm hearing from sources, is that work has never been busier," realtor Jared Jones said.
According to real estate experts, a new wave of foreclosures is about to hit the market. It will most likely turn what has been a seller's market, for the last few months, into another foreclosure free-for-all. It could potentially drive Las Vegas Home prices down even further.
------------
Despite more positive numbers lately for the residential real estate sector, the Las Vegas area -- a Privatopian province of some of the biggest common interest developments in the nation -- is still convulsing.
Sunday, August 26, 2012
Illinois General Assembly - Bill Status for SB3572
Illinois General Assembly - Bill Status for SB3572
This revision of the Common Interest Community Associations Act was just signed by Governor Quinn. The Act applies to non-condo associations, i.e., homeowners associations.
This revision of the Common Interest Community Associations Act was just signed by Governor Quinn. The Act applies to non-condo associations, i.e., homeowners associations.
Thursday, August 23, 2012
First Our Homes, Now Our Water? | Food & Water Watch
First Our Homes, Now Our Water? | Food & Water Watch:
Following its disastrous foray into the housing market, Wall Street’s latest earnings scheme is as close as your kitchen sink: the finance industry is increasingly targeting public water systems. A new report released today by the national consumer advocacy group Food & Water Watch, Private Equity, Public Inequity: The Public Cost of Private Equity Takeovers of U.S. Water Infrastructure reveals that as of January 2012, private equity players had raised $186 billion through 276 infrastructure funds and were seeking another $93 billion to take over infrastructure worldwide.
------------------------
As state and local governments face increasing fiscal constraints, private equity funds make what must seem like attractive offers, at least in the short term. But if experience has taught us anything, it is that the long term costs and benefits and other consequences must be taken into account.
Following its disastrous foray into the housing market, Wall Street’s latest earnings scheme is as close as your kitchen sink: the finance industry is increasingly targeting public water systems. A new report released today by the national consumer advocacy group Food & Water Watch, Private Equity, Public Inequity: The Public Cost of Private Equity Takeovers of U.S. Water Infrastructure reveals that as of January 2012, private equity players had raised $186 billion through 276 infrastructure funds and were seeking another $93 billion to take over infrastructure worldwide.
------------------------
As state and local governments face increasing fiscal constraints, private equity funds make what must seem like attractive offers, at least in the short term. But if experience has taught us anything, it is that the long term costs and benefits and other consequences must be taken into account.
Sales of New U.S. Homes Increase to Match Two-Year High - Bloomberg
Sales of New U.S. Homes Increase to Match Two-Year High - Bloomberg:
Purchases of new U.S. homes rose more than projected in July to match a two-year high, a sign the industry that helped trigger the recession is recovering. Sales climbed 3.6 percent to a 372,000 annual pace, following a 359,000 rate in June that was higher than previously estimated, figures from the Commerce Department showed today in Washington. Last month’s rate was the same as in May, which was the strongest since April 2010. The median forecast of 72 economists surveyed by Bloomberg called for a rise to 365,000.
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This is still an anemic number of new home sales, but at least it's going in the right direction.
Purchases of new U.S. homes rose more than projected in July to match a two-year high, a sign the industry that helped trigger the recession is recovering. Sales climbed 3.6 percent to a 372,000 annual pace, following a 359,000 rate in June that was higher than previously estimated, figures from the Commerce Department showed today in Washington. Last month’s rate was the same as in May, which was the strongest since April 2010. The median forecast of 72 economists surveyed by Bloomberg called for a rise to 365,000.
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This is still an anemic number of new home sales, but at least it's going in the right direction.
Wednesday, August 22, 2012
DCPP Arquitectos' Sky Condos Offer Sky-High Balconies With Swimming Pools In Lima, Peru (PHOTOS)
DCPP Arquitectos' Sky Condos Offer Sky-High Balconies With Swimming Pools In Lima, Peru (PHOTOS):
DCPP Arquitectos' planned Sky Condos will feature balconies with private pools and other amenities that aim to better integrate indoor and outdoor spaces, according to a Google translation of the company’s website. (Hat tip: the Daily Mail.) The 20-story condo building, designed to be “an icon for the future," will be located in the heart of a wealthy area of Lima and offer its residents views of a nearby golf course.
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It appears that if you get out of the pool on the wrong side your first step takes you down about 20 stories.
DCPP Arquitectos' planned Sky Condos will feature balconies with private pools and other amenities that aim to better integrate indoor and outdoor spaces, according to a Google translation of the company’s website. (Hat tip: the Daily Mail.) The 20-story condo building, designed to be “an icon for the future," will be located in the heart of a wealthy area of Lima and offer its residents views of a nearby golf course.
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It appears that if you get out of the pool on the wrong side your first step takes you down about 20 stories.
How Some States Are Giving Oil and Gas Companies the Right to Take Your Land | Alternet
How Some States Are Giving Oil and Gas Companies the Right to Take Your Land | Alternet
They are called "natural resource development takings," and this article contains a link to an essay by a law professor that explains the process.
ps: To commenters--please don't include huge chunks of text from copyrighted articles in your comments. Limit that to a few sentences.
They are called "natural resource development takings," and this article contains a link to an essay by a law professor that explains the process.
ps: To commenters--please don't include huge chunks of text from copyrighted articles in your comments. Limit that to a few sentences.
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