Looks like an outfitter in Okalahoma has been a little naughtily and gotten caught. It seems that Eagle Bluff Resort tried to sell 110 state-issued flotation licenses to a competitor. To purchase them from the state, it costs $5. They tried to sell them to a competitor who was looking for them for $500 each. A nice tidy profit of over 10,000 percent.
They sent a contract to Arrowhead Camp
asking them to sign the contract and send a deposit of $5,000.
A quote from the cover letter: "The offer
is not made to make profit on our investment, so the price and the terms are
not open to negotiation."
"I am constantly amazed when I learn
more about this underground currency," said State Sen. Jim Wilson.
"You cannot sell state property. These float operators try to treat the
licenses as chattel. They try to get bank loans using their license capacity as
proof of potential income. They don't own the licenses. They are not
There has got to be more to this story as
there are always two sides to it. I mean, who send a notarized contact over to
a competitor asking them to pay cash when you haven't even been approved for
the permits yet? It just leaves you open for...well, you know...bad press.
Contact us if you know what is going on.
Trouble at Eagle BluffThursday, 13 September 2007
Published in: Industry Stuff
David Johnston has been introducing people to the sport of sea kayaking for the past 15 years. He is a senior instructor trainer with Paddle Canada and teaches for several paddling schools in Ontario, Canada. Full Bio.