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Aristotle
Nitroglycerin


Joined: 05 Dec 2007
Posts: 594
Location: On a sand dune, sipping a cold soda

Dishonor an Indian Burial Ground, Lose Your Business
PostPosted: Fri May 02, 2008 8:37 pm Reply with quoteBack to top

Today brings us news that Bank of America might not assume all of Countrywide's debts if it buys Countrywide. In a universe more complex than the U.S. financial system, some debts cannot be avoided. The following is an absolutely true story:

One of Countrywide's first operations centers was a two building complex on a high hilltop overlooking Simi Valley, California. They are still doing business there.

The previous owner of that property was Gibraltar Savings, shut down by the feds in the savings and loan crisis. Gibraltar had bought the property from an overextended computer company.

The computer company failed shortly after moving out of the property. Building the building had brought them to the brink of financial ruin.

The computer company had been induced to buy and build on the property by an overzealous city manager, who had the hilltop declared a "redevelopment area" to attract jobs to the area.

Neither the computer company nor Gibraltar knew that the hilltop operations center with the beautiful view had been built on top of a Chumash Indian burial ground.

The city manager DID know that fact when he induced the now failed computer company to build the first building on the burial ground. He later became the county manager of Ventura County, the county became insolvent, and he "retired".

Though they did not know about the property's history when they bought it, Gibraltar's management was scared by Chumash elders who showed up to protest when the land grading equipment first started disturbing more graves for the second building. After a few days contemplation, Gibraltar went ahead, and completed the construction of the new building. Soon thereafter, Gibraltar Savings existed no more.

By the time Countrywide bought the property, the fact that it was built on an Indian burial ground was widely known.

So now the consequences of disrespecting an Indian burial ground have affected Countrywide.

Perhaps Bank of America is next.

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Aristotle

As Yogi Berra said "It's like deja vu all over again."
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suzyQ
Wrecking crew


Joined: 13 Feb 2008
Posts: 1905

Re: Dishonor an Indian Burial Ground, Lose Your Business
PostPosted: Fri May 09, 2008 12:35 am Reply with quoteBack to top

Amazing story.

Being 50% native I particularly enjoy the irony.

I have an ex-client also suffering Indian burial ground revenge on a development. Her father had originally developed most of the area in the 40-50-60's. Leaving a swath along the beach front that was know to have several bodies including the last chief's daughter and headstones.

Well it all became quite valuable and the headstones disappeared through the ...but all came up after some lots built out...and now all stalled for over a year.


Hmmmmmm. Makes you think.

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"I think we consider too much the good luck of the early bird and not enough the bad luck of the early worm." FDR
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arthurkingiv
Dud?


Joined: 08 Mar 2008
Posts: 14
Location: la plata md

Re: Dishonor an Indian Burial Ground, Lose Your Business
PostPosted: Thu May 29, 2008 8:22 pm Reply with quoteBack to top

Really makes you scratch your head and say to your self, Yep its always gonna come back to ya and bite ya in the bEhind later.
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