*=recently updated

Matthew Hoy currently works as a metro page designer at the San Diego Union-Tribune.

The opinions presented here do not represent those of the Union-Tribune and are solely those of the author.

If you have any opinions or comments, please e-mail the author at: hoystory -at- cox -dot- net.

Dec. 7, 2001
Christian Coalition Challenged
Hoystory interviews al Qaeda
Fisking Fritz
Politicizing Prescription Drugs

<< current

Amazon Honor System Click Here to Pay Learn More

A note on the Amazon ads: I've chosen to display current events titles in the Amazon box. Unfortunately, Amazon appears to promote a disproportionate number of angry-left books. I have no power over it at this time. Rest assured, I'm still a conservative.

Wednesday, June 15, 2005
Filling the hole: Today's San Diego Union-Tribune has an article which makes substantial progress on filling a gaping hole I identified in an earlier story on possible corruption by Republican Rep. Randy "Duke" Cunningham.

Said San Diego Realtor Christian Peter: "In November 2003, property values increased approximately 20 percent on a year-to-year basis in San Diego County. A $700,000 loss would be unheard of, and anyone who bought property in 2003 and held onto it for any period of time should have made a significant amount of profit."

A Copley News Service review of the comps for Cunningham's neighborhood during the approximate time of the sale show an array of houses of vastly different sizes and views selling for $700,000 to $1.7 million.

This indicates that Todd might have set the price at the high end of the range when she set it at $1,675,000. However, the eight months it languished on the market and its subsequent sale for $975,000 during a seller's market suggest a value closer to the low end, according to real estate professionals interviewed for this article.

The only other thing I'd like to have seen as a reader was a graphic or table showing the $700,000 house, Cunningham's house and the $1.7 million house and the various vital statistics (lot size, square footage, number of bedrooms, baths, amenities). From what appears in the article, the sense that you get from the realtors is that the $1.675 million price paid by the defense contractor is seriously out of whack.

The House ethics committee needs to get over its partisan wrangling, get their ducks in a row and start investigating this transaction. The FBI and federal prosecutors should follow suit.

Cunningham may be innocent, but right now I wouldn't bet a cent on that possibility.

9:06 PM

I sure hope the UT follows up on this. It shouldn't be to difficult to get good comps, but this issue is really a smokescreen. You neglect to acknowledge the stated reason for purchasing it by the defense contractor and then his subsequent placing of the house back on the market. What about the millions of dollars in contracts he "won" after the transaction? What about the realtor's history of campaign contributions? This reeks! One must look at the entire situation. The "Duke" should resign! I might even vote for you to replace him.
...even more troubling for the government is the fact that the defense contractor paid almost a million over the actual worth of the property. If someone is that stoopid, would you really *want* to do business with them?...(visions of $500 ashtrays)

Main Entry: col·lu·sion
Pronunciation: k&-'lü-zh&n
Function: noun
Etymology: Middle English, from Middle French, from Latin collusion-, collusio, from colludere
1: secret agreement or cooperation especially for an illegal or deceitful purpose
2: surrogate gratification for politicians not engaged in sexual improprieties
Check out the North County Times. Today it ran a story that Duke is living aboard a boat in Washington, D.C. that is owned by the same defense contractor that bought his house. Duke just stiffed him for $700K so he loans him his boat. Is there something wrong with this picture? Collusion-- yes. Bribery-- yes.
Post a Comment

Powered by Blogger Pro™