Tuesday, May 15, 2007

Not Political Philosophy

Recently, I was asked if I weren't siding with the Liberals regarding the posts about Waterford Park Homes, LLC. This isn't, in my estimation a politically conservative or Liberal position.

From a liberal activist position you could see "Fat Cat" strikes again. From a conservative viewpoint, one could, and I do, realize that the multi-million dollar economy on and around Lake Pend Oreille is at stake. Primary usage of the Lake is fishing. When Kokanee were plentiful, one could see boats scattered all over the lake fishing for them. For the trophy trout trollers, the opportunity to catch a rainbow trout that topped twenty pounds was the draw.

There are seven major resort/marinas in just Bayview alone. Three of them are owned by Bob Holland of Waterford Park Homes, LLC. In the long term, we are going to see some of these businesses whither away, including the ones that are owned by Holland. Fortunately for him, he will be long gone. The subsequent owners will be faced with bloated costs and false values that will never pencil out.

Holland is and has been a slash and burn investor. Buy cheap, throw some improvements into the mix, then sell and beat feet.

In the aftermath, Marinas that heavily depend on the middle class fishing crowd, will suffer mightily. Already, the lack of traditional fishing has moved many out of the lake. High moorage fees are moving the rest out.

Recent activities by Waterford Park has accelerated this movement. It has been heard from Holland's own mouth, that he intends to get rid of the trash/local yokels, moving wealthy vacationers in. With the fishing industry gone, that's about all that is left. One wonders, however, how you can sell float home slips over a lake bed that you don't own, for $150,000 each to people that can only enjoy a Summer season that is three months long.

The goose that has been laying the golden eggs has flown off, Pal, and that is the opinion of a fiscal conservative ...

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