The Airport SCAM
"The pie in the sky"

INSTANT BOOM  FOR BAY COUNTY?

The hype and propaganda:

The new Airport won't cost us anything? "Gainer"

The new Airport will make us ALL rich?

 The new Airport will bring  10,000  new JOBS to Bay County?

St Joe WILL build it's new headquarters at the site? "Canceled"

The new Airport site WILL BE a CENTER of Business Activity?

  We will have "high paying"  Aerospace jobs?

We will have direct International flights from Europe?

We will have INTERNATIONAL Tourists?

( All aboard for the London to HOOTERVILLE Flight) "come on!"

Many new businesses will relocate here?

The "Business people"  are "on their way down here"?

The new Airport will be a  "HUB" for regional flight activity?

We will receive the "overflow flights"  from the Atlanta Airport?

Bay County WILL RECEIVE $ 90 Million from the sale of the old Airport?

 

Q:  Will there be a "crosswind"  runway like normal Airports?

 ALL WE HAVE TO DO IS  "SPEND $300+ MILLION TAX DOLLARS"  in the middle of  "NYSE" "JOE"  LAND to accomplish all of the above,  our dream will come true?

FACT:  "The former timber business owns about 570,000 acres of Panhandle land. The company donated 4,000 acres for development of a recently opened international airport near Panama City and it owns 72,000 surrounding acres." 

ALSO:  All the  "Cowboy Contractors and Developers" ran to the banks with their  "we is all gonna be rich, em boys said so"  idea  and proceeded into bankruptcy and Bank Failure!

 BOOM FOR THE ALFRED I DUPONT TESTAMENTARY TRUST!

Look what really happened, the majority stockholders of  "JOE"  "The Alfred I DuPont Testamentary Trust" walked away with a BILLION DOLLARS IN INSIDER STOCK SALES  from this SCAM!  They get the  "gold mine"  we get the SHAFT! 

"By SELLING ALL THEIR STOCK in JOE, They essentially  bet against the Airport"

Look who walked away with an FORTUNE after "NYSE JOE" "HYPED the value of the stock"  and the taxpayers dumped more then $300 MILLION  TAX dollars right into the middle of ST JOE SWAMP land!   IS this textbook corporate welfare and a textbook stock swindle? 

IF THIS AIRPORT WAS GOING TO BRING SUCH HUGE PROSPERITY

TO BAY COUNTY THEN

WHY DID THE DUPONTS SELL THEIR STOCK IN JOE??

  (The Alfred I DuPont Testamentary trust essentially "bet against" it.)

 

" If Bay County received it's legitimate PropertyTax Revenue, "more then $2.00 per acre" 

we probably could have paid cash for a new Airport  "in 4 years -             

  $75 million in revenue lost  times 4 years = $ 300 MILLION"   if necessary! 

FOLLOW THE MONEY TRAIL*

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=8 82 Million

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=9 54 Million

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=15 79

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=16 72 Million

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=18 334 Million

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=19 43,25,50,21,57 MILL

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=22 235 Million

http://www.smartmoney.com/quote/JOE/?story=insiders&snStory=story&item=23 326 Million

Please note: "story&item=" page number above may change slightly

PLEASE NOTE, THESE INSIDER TRADES ARE JUST THE "BIG" ONES,

WHATS A FEW MILLION BETWEEN FRIENDS? 

After this stock scam,  the Bay County Property Appraiser CONTINUES to allow  "JOE"  and it's NEW OWNERS  to pay $2.00  per acre in Property Tax on much of it's development land!

YES,  we have more people flying here because of Southwest and some cheaper flights and perhaps in 20 years it may be worth it,  BUT how does that translate into some BIG economic BOOM for Bay County?

Are we "lucky BAY?  Are we STUPID BAY?  $2.00 per acre in Property Tax on the remaining  JOE land?