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Gadfly

What Not To Say To The Wsj At An Apec Meeting

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That is country knowledge. City folks don't think anything of buying a new home when they can clearly see watermarks above their head on the nearby trees. :p

 

Also, only city folks would build houses in an area named Hurricane Valley. :surprised:

In my young and foolish(er) days I once camped on a beach clearly signposted as "Sandfly Cove". :confused:

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So are we saying that large MNC's due diligence process does not include environmental factors? Or that there should be no need for them do do such? If I want to sell you some land and tell you it's safe to build and operate there who would be the more stupid if you do and it floods, me for being wrong or covering up the facts, or you for believing me and not checking it out? Does caveat emptor not apply in these deals?

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So are we saying that large MNC's due diligence process does not include environmental factors? Or that there should be no need for them do do such? If I want to sell you some land and tell you it's safe to build and operate there who would be the more stupid if you do and it floods, me for being wrong or covering up the facts, or you for believing me and not checking it out? Does caveat emptor not apply in these deals?

 

Obviously not. It hit companies from all over the world. ph34r.gif

I guess due diligence ended at the next connecting highway and no-one ever thought about looking at historic flood charts. Like everywhere, only the present and future counts. As I said, peaple all over the world are building in disaster zones: in the Alps in avalanche zones; in Germany, LOS, Italy, e.g. in flood areas; in Japan in Tsunami areas; in USA they build wooden houses in hurricane areas and so on.

 

In regard to LOS and foreign companies I wonder, if this is simple herd mentality. If one major company builds in a flood zone others think that it will be save then...

Especially the Japanese should have known better since they experience floodings, landslides, earthquakes, e.g. every year and therefore should know what to look for.

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