Condemnation Is Used To Hand One Business Property of Another
When a developer decided to bring Home Depot and Costco stores to New York's East Harlem, the state of New York had a simple message for William Minic and his cabinetmaking business: Get out.
Although Mr. Minic has operated his family firm there for 20 years, a state agency has announced its intention to condemn the building if he doesn't vacate, and then resell it to the developer.
Local and state governments are now using their awesome powers of condemnation, or eminent domain, in a kind of corporate triage: grabbing property from one private business to give to another. A device used for centuries to smooth the way for public works such as roads, and later to ease urban blight, has become a marketing tool for governments seeking to lure bigger business....