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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Macroeconomic Trends & Risks
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Author: Steve203 ⎊❂🐝 HONORARY
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Number: of 4582 
Subject: Re: Asking for each of your takes
Date: 08/25/25 8:42 PM
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Sure they do. But they've had a plan as to what they are going to do with the real estate
that is being leveled, ie auto plant.


Not necessarily. I don't recall the name of the project, but, a few years ago, one of the local TV stations did a piece about how the city bought up all the properties in a particular area, and cleared everything out, to bare dirt, ready for "JCs" to move in and redevelop the area...but the "JCs", for the most part, never showed up.

Implementation of "eminent domain" can vary from state to state too. There was a case, maybe around Boston, some years ago, about the propriety of the state using eminent domain to take property, for the benefit of a private, for profit, corporation, when, iirc, the Constitution specifies the power is only to be used for "public use". Clearly, that is not a concern in Michigan. Seems I have read that Texas is much like Michigan, in that respect. If an oil company wants to put a pipeline through your back yard, you have no chance of stopping it, because the state will take the company's side.

Is there a federal law similar to Michigan's "civil forfeiture"? If there is, then the Feds could seize property, just because an illegal or criminal was using the property. No "legal due process" required.

Steve
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