CADIZ LAND CO (NASDAQ:CLCI) Message Board

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Gold/Mining/Energy : CADIZ LAND CO (NASDAQ:CLCI)

CLCI 0.00500

0.0%

Sep 28 5:00 PM EST

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To: Jamie Myers who wrote (34)	3/5/1998 9:32:00 AM
From: Dan Packer	Read Replies (2) of 50

Waste Management and the Santa Fe railroad formed a joint venture to put a rail haul trash dump out in the desert of eastern San Bernardino County. The dump site is within a few miles of the Cadiz valley which is the valley in which CLCI is claiming the water. This JV named RailCycle actually got the permits from the county Board of Supervisors. Cadiz then filed suit claiming that the dump could pollute their water supply. (If you look at the State of California hydrogeology maps, RailCycle overlies another distinct basin which is a typical brackish water desert basin. No matter, Cadiz filed suit and ran a big political garbage campaign. At this point the garbage idea is stalled - if for no other reason than the idea doesn't have great economics, I think. Cadiz uncovered the fact that RailCycle had some folks in the desert running a disinformation campaign. CLCI has built a RICO suit on this, and is trying to lasso WMX and the Board of Supervisors. This would give them possible treble damages. I honestly believe that law suit is CLCI's only chance to ever make a real profit. When you think about it, the only way in or out of the Cadiz valley is along the BNSF railroad tracks. Do you think that CLCI will get to use that right of way while a RICO suit is in the air? I can't help you with your stock buy/sale question. I can only tell you that although I believe CLCI has some intrinsic assets that have economic value, IMHO CLCI management has shown no ability to operate businesses, likes to get into gun fights, and has a history of losing them. Not my kind of people.

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