Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: Edwin S. Fujinaka who wrote (1129)	11/18/1999 3:50:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

I am still holding off on any further communication directed towards the news media and the State of Florida Officials (Jeb Bush) until after the Appeals Court makes a Final ruling. Personally, I don't think the Appeals Court actually has the power to declare the State's actions as a full "taking" under the eminent domain condemnation rules and the case will have to be formally decided by the Lower Court. If the Appeals Court does rule that the State's actions constitute a "taking", then the State can appeal to the Florida Supreme Court. This all means that many additional delays are possible and in fact likely. Even the Appeals Court may be somewhat delayed if the full court needs to be polled. Because this will ultimately become a political football, the overall strategy for CCO and the State of Florida could result in some sort of "deal" eventually being struck. Most of these condemnation cases are eventually settled through some sort of "deal". My opinion is that the State needs the clear threat of some humongous judgement hanging over their heads to provide cover for any settlement deal. This should force a deal sooner rather than later so the Republicans can say that the deal was so large because of the long delays created by the former regime. I still like my "deal" to just delay drilling with a payment up front (that is eventually repayable to the State). Any dollar amounts would depend on some notion of appraised valuation (the "just compensation"). If the State waits too long and the Courts force an appraisal, why should CCO settle for less than full payment in cash all at once? That's why a settlement sooner rather than later is better for all concerned.