Phoenix Associates Land Syndicate (fka PBLSQ)

[Blitzkrieg9]

I don't my any means think the land is contaminated or worthless. I believe they probably paid a pretty penny in preferred shares and cash for it.

I was merely making the point that a $1 billion dollar "asset" could *actually* be worth a negative amount of money.

And like the next poster said, i have considered that they might be buying this just in case the Murphy pit gets taken away. From what i know, PBLS has a strong case and they're not likely to lose the lawsuit; hell they might win a large payout on the business imparment counter claim. In which case, they're simply building their S&G business.

blitz