The other costs of Eminent Domain
Even if we don’t value property rights, maybe we do value money:
Donald L. Correll, President and Chief Executive Officer of Pennichuck Corporation, announced today that for the quarter ended September 30, 2004 the Company earned $577,000, or $.24 per share, compared to net income of $1,022,000, or $.43 per share for the same quarter in 2003. Mr. Correll indicated that, among things, the results of operations for the three months ended September 30, 2004 were adversely impacted by nearly $250,000 of legal and other costs relating to the City of Nashua’s ongoing eminent domain efforts.
