The state legislature has to rewrite the law to straighten this out. Who will devote time and capital to building a business in California if this type of abuse is a real possibility? People invest in America because it has been a stable enviornment without this sort of arbitrary predation from government.
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Land Seized for Animal Shelter May Be Sold to Developer-Donor
By Patrick McGreevy, Times Staff Writer (Los Angeles Times)
January 14, 2006
A year after Los Angeles seized three acres from a private company to construct a public building, a city councilman wants to sell the land to another private firm for a commercial development.
Both companies are furniture manufacturers. But executives with the company that would buy the land have political connections and have made $17,600 in campaign contributions to key city leaders.
Critics of the proposal say it's wrong for the city to use its power of eminent domain to take property from one business for a public purpose and then sell it to another business. (read more)
http://ktla.trb.com/news/la-me-deal14jan14...oll=ktla-news-1