Sunday, February 22, 2009

I don't own it! My legal entity does! Nice One Ron Baron!

The February 12th issue of the East Hampton Star arrived at our apartment a few days ago. Front page, lower right is a cover article about Ron Baron's refusal to remove a 800-foot oceanfront concrete retaining wall and repair the ancient dune destroyed in the building of it.

The story has hit the NY Post Page Six, but where is the broader media coverage? We need more coverage on this. Yes the economy is a mess, but why is it a mess? We've had a financial/governmental catastrophe in the housing market. There were large sums of money made by the people who helped create this problem. They've purchased or built many of the homes in the Hamptons from these profits. Whether Ron was one of them is not the point, it's the sense of entitlement that apparently comes with mega wealth.

There's some debate over whether the LLC or Ron Baron is on the hook for the suspected violation, but either way it's important that this issue get resolved.

The dunes need to be repaired and it needs to be clear to everyone that no matter how rich or how esoteric your legal structure might be you're never above the law.

If Ron is clearly not in control, then whoever is should fix the dunes.

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