"Further Info on AVX"

I know I am writing a lot about AVX, but this company is really making a lot of ethical blunders. According to the Nov. 2 issue of the Sun News the partners of JDS Development are suing AVX for ruining their plans to build a 60-unit condominium complex near the AVX facility.

In court papers filed in Federal Court David and Steve Nance state that they had all permits and financing for the project needed to begin construction in Sept. 2007. When the groundwater test was done it showed contamination with TCE thousands of times greater than the federal safe standard set by the EPA. At this point, the bank yanked back their financing and the project was denied because of the contamination. The Nance's were forced to return deposits on pre-sales of the condo units and in turn had no money to pay engineering bills already encountered. The engineering firms have taken the Nance's to court and the property is in foreclosure. The Nance's cannot sell the property. It is worthless. This is an example of how the contamination has frozen real estate sales in the area. Believe it or not, AVX is still not taking responsibility and is blaming the former military base.

Once again AVX is giving us another example of why companies should actually internalize their externalities. It just seems to me that if they would just assume responsibility they would save time, money, and most of all, their image. This situation should be made into a 101 course on how to make sure that one's company is not around for any length of time. Hopefully, at some point, AVX will find their ethical compass and begin heading in the right direction. Here's a hint to them: Just turn around and start walking in the exact opposite direction that you came from.