Wow
amazing
If I had the money, I would buy stock in his company for funding the rebuilding of this town.
The land that those homes stood on will be repossessed however, in many cases it may not even be worth the cost of the legal proceedings to do so! The US taxpayers (and the national economy)will ultimately take the hit through the numerous housing guarantees/subsidies which underwrite home purchases today!
Like all articles being written..., the slant is that those "Nasty Insurance Companies" are refusing to pay (even though the policies they wrote SPECIFICALLY exclude flood damage). If you are in an area subject to floods (even tidal surges!) you better damn well buy federal flood insurance!
Cool. I wonder what Soros et. al. thinks of this?
By the way, quietly, a few weeks back Congress passed a law and Bushed signed it giving FEMA/NFIP access to treasury money. About 4 billion dollars. And that's the first chunk of money. To pay for flood claims because the $$$ is not there to pay the claims. Because, as I said above, it's really not insurance because it's guaranteed by the federal gov't. Which means that every taxpayer, even those that live in the middle of the desert somewhere pay for flood insurance losses.
What this billionaire is doing is very nice but does it make sense? Not to me but it's his money.
In Avoyelles Parish, Louisiana, Canadian billionaire industrialist Frank Stronach plans to purchase two tracts of land between Simmesport and Hamburg to house 170 evacuees in "Canada Village." He has its occupants temporarily housed at a racetrack in West Palm Beach, Florida, and intends to bring them to the new community before the racing season begins on November 4th.
I would have posted the article, but just discovered the hard way that FR doesn't allow direct posting from the Alexandria Town Talk any more. Here's a link instead to a much more detailed feature on the project from a Canadian source:
http://www.macleans.ca/topstories/world/article.jsp?content=20050926_112690_112690
He'll restore Long Beach faster than Nagin does the 9th ward.
Wow.....Really like this guy....
Here are a few facts about him:
He was born in India, and he is a Hindu.
"In March 2005, Forbes Magazine named him the 3rd richest man in the world (he was the 63nd richest in 2004 and the richest non-American, with an estimated wealth of 25 billion dollars (US $)."
"In 2002 he was embroiled in a political scandal dubbed Mittalgate with British Prime Minister Tony Blair when it was felt that a donation Mittal had made to the Labour Party had led to Blair's intervention (a letter to the Romanian prime minister) in a business deal favouring Mittal. On July 13, 2005 it was announced that he had donated £2 million to the Labour Party."
He bought a concentration camp at Omarska - operated by Bosnian Serbs for Muslim and Croat prisoners.
He spent 128 million dollars for a house in London ("breaking the world's record for the most expensive house purchase"). It has 12 bedrooms.
His daughter had a lavish wedding on June 22, 2004, in Paris, France, which cost more than 55 million dollars - complete with a fireworks display at the Eiffel Tower. All 1000 guests were put up at a 5-star hotel in Paris. "'Papa, Buy me the Eiffel,' headlined a report in Outlook, one of India's leading magazines, alluding to the extravagance in Paris." The engagement party, on June 20, 2004, was held at the Palace of Versailles.
Remember that old agage - "nothing succeeds like excess"? He's really taken it to heart.