Friday, April 21, 2006

NK Hurst Ordeal Ending?

Many sources are stating that the NK Hurst Company and the Stadium Authority are poised to announce an agreement this morning, and it would include the NK Hurst Company remaining on some of its land, retaining its building.

That's very nice, but it's far, far less than perfect. Mainly, the Daniels Administration has behaved in disgraceful ways that underscore its disregard for property rights. Don't lose sight of the following:
  • The NK Hurst Company owns its land, period. If NK Hurst wants to sell, and on what terms, should be up to them and them alone. The State should meet those terms, or walk away.
  • Under no circumstances should their land be stolen. The "public good" argument is bunk. This will benefit a private business entity- the Indianapolis Colts.
  • The Stadium Authority filed suit against NK Hurst in order to avoid more restrictive eminent domain laws that were coming up thanks to the horrible Kelo v. New London decision. This is the opposite of negotiating in good faith.
  • The NK Hurst Company is a model corporate citizen, one that stuck with the inner city when it was fashionable to leave. This is a lousy reward for them, and an awful signal to other inner city business owners, that your property is not safe.
Let's hope this press conference is where it is announced that the Colts have taken the high road, and contributed a few million dollars from their enormous $121 million naming rights deal. That would help everyone believe that Mr. Irsay isn't merely a spoiled, greedy child who is content to use the muscle of ego-driven govenment force, but in fact, half the decent corporate citizen the Hursts are. That would be refreshing, and redeeming.

Let's hope the Stadium Authority concedes full asking value to the Hursts. The overruns have already begun in the way of lining lawyers pockets. Let's see a rightful recipient get just compensation.

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