We're still living in America, where money apparently can't buy everything. And that's a cheery thought!
The Kansas City Star continues its excellent coverage of the Grain Belt Express debacle in the wake of yesterday's denial of the project by the Missouri Public Service Commission.
The Star focuses on impacted Missouri landowner Loren Sprouse, who, along with his brothers, operates a farm in Caldwell County. Read the article and watch the video here.
A week before the vote, Loren Sprouse — along with two brothers, he farms land in Caldwell County that’s been in the family since 1919 — said of Grain Belt: “This is a giant land grab by a huge company. They (Clean Line) are a private, for-profit company trying to masquerade as a public utility.”
After Wednesday’s vote, Sprouse said: “Now we can get back to the important business of feeding America.”
Clean Line Investor Corp. is a subsidiary of ZAM Ventures, L.P., which is one
of the principal investment vehicles for ZBI Ventures, LLC. ZAM Ventures, L.P. has a consolidated net worth of $500 million based on U.S. GAAP measurements. ZBI Ventures,
LLC is owned by Ziff Brothers, a multi-billion dollar family investment fund.
And let's think about that for a second... how much potential profit is in these projects for the Ziffs if they're willing to invest such a huge chunk of their fortune? Will they recoup their entire investment if only one of Clean Line's five projects gets built?
So, who watched the Missouri PSC meeting yesterday? It was lovely of Mike Skelly and Mark Lawlor to choose seats that put them within range of the streaming video camera. Everyone got to watch them lose! Here's what it looked like:
Skelly originally took his classic "arms folded" defiant pose while Lawlor awkwardly stood in the doorway with a hang dog expression. I guess someone told them that their body language was unbecoming for the occasion, because Skelly switched to the "hands tightly clasped between his knees" pose and Lawlor sat down to take notes. Although, in this shot, it looks like Lawlor is about to bolt from his seat and run screaming from the room.
So, what did Clean Line have to say afterwards? It took forever for them to issue a press release (because the victory one they probably had prepared ended up in the shredder). Clean Line says:
...there appears to be some confusion at the Missouri Public Service Commission about how the project will benefit Missourians.
Who does that Clean Line? Who calls a state regulatory board "confused" when they don't get their way? This isn't boding well for another application down the road...
The profit-seeking needs of the Ziff Brothers were outweighed by the burden the project proposed to the Sprouse Brothers.
What a great thought as we celebrate America this weekend!
And let's end with a final photo of Mike and Mark, who finally managed to have a word with each other as the meeting was ending. What do you suppose they said?