Tuesday, March 16, 2004

For Sale: One Ohio Town, Lightly Used

Today's cover story in USA Today discusses the strange fate of Cheshire, Ohio. The town is home to a massive power plant that spews various pollutants into the air. It got so bad that the small town banded together to fight back, only to have American Electric Power make an offer the townsfolk couldn't refuse. AEP offered to buy the entire town - from the homes to town hall to the Methodist Church - for $20 million. The residents would get cash for their homes (greater than their plummeting market value, in many cases) and in return would give up their right to sue AEP for damages caused by the plant's discharge.

The town agreed to the offer, but it has not quite worked out as planned. Read the story, it's quite interesting.

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