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Wednesday, November 11, 2009

Pfizer deserts its monument to corporate welfare

Remember Kelo v. New London? That was the case in which the liberal majority on the U.S. Supreme Court ruled that cities, towns, and states had the right to seize properties by eminent domain and give the land to private developers.

Well, my column today reports on how that great redevelopment plan hasn't worked out so well:

Susette Kelo's little, pink house in New London, Conn. -- like the houses of all her neighbors -- is now a pile of rubble, overgrown with weeds. But Pfizer, the company that called for the demolition in order to build a new research and development plant, announced Monday it is packing up and leaving town in order to cut costs after its merger with fellow drug-giant Wyeth.

New London now has a wasteland where a neighborhood once stood, and no jobs or business to show for it. It's another travesty of central planning.

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