(Originally posted in late 2007) Due Diligence is the phrase that everyone is focusing on now. The City claims that it has done
it's due diligence by investigating all of their options. Our group has obtained some very credible documents
that argue otherwise.
Here is a testimony from Nick Frey of Stinson Morrison Hecker law firm stating
that Christine O'Keefe of the Missouri Department of Natural Resources (MDNR) said it would take at least 8 years to build a
smelter and they would need an air permit. Considering that the lease agreement with Wings Enterprises dictates
that they have 5 years to build a successful smelter, you have to wonder if anyone asked the MDNR if building a smelter was
Then there is the letter that Mel Kosanchick, professional engineer that has been involved with thousands of real estate
projects, personally presented to the City Council on November 12. It suggests that "Purchasing land without a comprehensive
'Due Diligence' Report can lead to bankruptcy".
How about the presentation that Roger Baker, a seasoned mechanical engineer from Crystal City, developed after contacting Jim Kennedy (owner of
Wings Enterprises) and simply "doing the math"? It concludes that "the stated income is less than the Capital
cost amortization, labor cost, and operating costs".
Also, a letter from Tom Kerr, local resident and owner of
Crystal City Underground, outlines eight serious environmental issues with
regard to the PPG property that were uncovered in the process of developing his project.
Finally, distinguished Crystal City residents Bill and Debbie McKenna let us know how they feel about Crystal City's due diligence
in a recent advertisement in the local Leader newspaper.