EMAIL PAGE TWELVE
COLUMN SEVENTY-FIVE, SEPTEMBER 1, 2002
(Copyright © 2002 The Blacklisted Journalist)
BY NICHOLAS KRISTOFF
BUSH AND THE TEXAS LAND GRAB
NYTimes.com Article: Bush and the Texas Land Grab
Date: Tue, 16 Jul 2002 11:18:29 -0400 (EDT)
This article from NYTimes.com has been sent to you by email@example.com
July 16, 2002
Bush and the Texas Land Grab
By NICHOLAS D. KRISTOF
Democrats and media hounds are baying under the wrong tree.
The point in President Bush's business career where he took outrageous shortcuts
was not at Harken Energy, but rather when he was grabbing land for a new
baseball stadium in Arlington for his Texas Rangers baseball team.
Mr. Bush broke no laws. Neither do the overwhelming
majority of corporate executives. The cloud over the business world comes not so
much from law-breaking as from avaricious bruising of the public interest.
The challenge is not catching criminals but injecting
public scrutiny into a culture of cronyism in which executives, accountants,
regulators and "independent" board members all ooze empathy for each
When Asia had its economic crisis in 1997-98, Americans
properly trashed its "crony capitalism." But we suffer from the same
affliction ourselves, and President Bush will not address the issue seriously
because cronyism has been his way of life—the Bushes call it loyalty.
I have a stack of court documents from Arlington that
portray the "sordid and shocking tale" of the Rangers stadium, as one
lawsuit puts it. Essentially, Mr. Bush and the owners' group he led bullied and
misled the city into raising taxes to build a $200 million stadium that in
effect would be handed over to the Rangers. As part of the deal, the city would
even confiscate land from private owners so that the Rangers owners could engage
in real estate speculation.
"It was a $200 million transfer to Bush and Rangers
owners," complains Jim Runzheimer, an anti-tax campaigner in Arlington.
William Eastland, a leading Republican in Arlington, is
also outraged, and puts it this way: "You're using public money for a
private purpose." Mr. Eastland was a Bush delegate to the Republican
National Convention in 2000 but still believes that the Bush group behaved
shadily and against the public interest.
Local voters overwhelmingly approved the deal, so maybe we
shouldn't get so exercised by star-struck local officials giving $200 million to
rich baseball owners. But the most unseemly part of the deal was that Mr. Bush
and the Rangers' owners conspired with city officials to seize private property
that would be handed over to the Bush group.
"A group of wealthy and influential people threatened
and traded their way into an unprecedented takeover of government power and
private property in an awesome display of greed and avarice," charges a
lawsuit by the landowners, in what strikes me as a fair recitation of events.
Another suit charges that the deal "can only be described as astounding,
unprecedented and blatantly illegal."
A copy of the secret agreement among Mr. Bush and the other
Rangers owners shows that they intended to make money not just by running a
baseball club but also by land speculation.
For example, one owner found a nice chunk of land and sent
a memo suggesting that it "sounds like another condemnation candidate if
you want to work the site into your master plan," according to the court
documents. Another of the owners' internal memos casts a proprietary gaze on a
property and declares: "We plan to condemn this land."
For a group of financiers to go around town admiring
properties and deciding which to seize through the government power of
condemnation so that they can acquire free land and speculate on it is
appalling. Even Kazakhstan would blush at such practices.
Horace Kelton, for example, owned land that the Rangers
wanted. The owners got Arlington to seize it, with the city paying less than
$1.50 per square foot even though it had previously paid $10 a square foot for
other land nearby.
"It was an extremely low price, and that's why we had
a court case that lasted seven years," Mr. Kelton recalled. Eventually, his
family got $11 a square foot.
In fairness, Mr. Bush was simply being a hard-nosed
businessman. He did a great job leading the owners' group, and it's hard to take
seriously the caricature of him as unintelligent when he led the Rangers so
lucratively. Indeed, his $14 million profit on the Rangers financed his entry
But it's also a sordid tale of cronyism, of misuse of
power, of cozy backroom money-grubbing—a more pressing threat to American
business than outright criminality.
* * *
CLICK HERE TO GET TO INDEX OF COLUMN SEVENTY-FIVE
CLICK HERE TO GET TO INDEX OF COLUMNS
Blacklisted Journalist can be contacted at P.O.Box 964, Elizabeth, NJ 07208-0964
The Blacklisted Journalist's E-Mail Address:
THE BLACKLISTED JOURNALIST IS A SERVICE MARK OF AL ARONOWITZ