Wednesday, July 7, 2010

Private Sector Development Works


Recently the Greenbrier resort had one of its most star studded weekends in recent years. Not that it has not hosted its share of such events going back to the days when Southern belles would gush at the presence of Robert E. Lee, but this party marked a comeback for the grand old lady.
Jim Justice, known more for coal than celebrity, sold one of his mines and poured tens of millions of dollars into modernizing the Greenbrier. With a boost from local voters, he built a casino reminiscent of Monte Carlo and also attracted a PGA event to its famous course. Those who made the event saw basketball and golf legends as well as actors and actresses enjoying a stylish evening in Southern West Virginia.
This is what is possible in the private sector, even in West Virginia. Some several years ago called for the state to take over the struggling hotel and the government prudently refused. Private capital made it much more of a success than it ever could have been under government control. Don't forget that this was made possible with a vast fortune created by coal.
Barack Obama believes that a person should only be able to keep so much money that they earn. If Jim Justice had his fortune taxed away from him, we would be looking at the eulogy of the Greenbrier instead of its rebirth.

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