HORRY COUNTY
BUSINESS
B&C should pay its own way, not get
deals
By Joe Eritano
There are some old sayings, "Throwing good money after bad," "All
that glitters is not gold," and "A fool and his money are soon
parted." Thus it is with the so-called plan for the Myrtle Beach
international trade center, a deal imagined by Doug Wendel, the
chief executive officer for Burroughs & Chapin Co. Inc. B&C
has repeatedly used other people's money, or our taxes, to increase
its profits. It has been using other people's money for decades, the
most excessive [example] being the multicounty business park. This
business deal [between B&C and] the Horry County Council and
Myrtle Beach City Council resulted in millions of our dollars being
used to fund 27 developments in Horry County, including a mall.
Such expenses rightfully belong to B&C as part of doing
business. Instead, our money and that normally needed for schools is
being used by B&C for 30 years. No wonder our county, city and
school district are now crying uncle over their indebtedness. One
would think such largess would never happen again.
However, B&C has now embarked upon the use of more other
people's money, and our state legislature has recently set aside $7
million [for the international trade center project]. Those
wonderful pro-business elected officials called it seed money,
hoping more seeds will be coming from the state and local
governments. We the People of Horry County think it is a bad
seed.
The taxpayers, according to a recent feasibility study, can look
forward to ponying up $35 million just to purchase the old B&C
Myrtle Square Mall for use as the international trade center [site].
Additionally, development costs for this gorilla are estimated to be
[millions of dollars].
Now, folks, that is one big risk, even bigger than the risk on
one government hotel that the city of Myrtle Beach is struggling
with.
No government of the people, by the people and for the people
should ever be required to take such a risk. Even our governor, Mark
Sanford, wisely agrees that this is pure pork and is contemplating a
lawsuit against those in Columbia for giving up the $7 million in
tax money over his veto.
On behalf of We the People of Horry County, I am recommending
that we throw all the bums out who show any favor to such a business
albatross this election year. If B&C thinks a trade center is
such a great venture, let it risk its own capital. Enough is
enough.
The writer, director of We the People of
Horry County, lives in Myrtle Beach. |