November 11, 2009 Finance General 0

A decade ago, the town of New London, Connecticut claimed Kelo’s house by right of eminent domain. The plan was to demolish the residential neighborhood so that Pfizer could built a massive research and development plant on the adjacent land. Pfizer got the land for next to nothing. Five Supreme Court justices upheld the taking, ruling that although the primary beneficiary was a corporation, it met the constitutional requirement of “public use.”

via The Famous ‘Kelo House’ Property Is Now A Vacant Lot.