Morgan Stanley Kitson experiencing PAIN in Charlotte County...what do you think the shareholders and pension funds are feeling?

The County Commissioners in Charlotte County gave Syd Kitson and Partners 30 days to review their new plan for the proposed downtown area of Port Charlotte.

Mr. Kitson now wants to buy just 40 of the 870 acres of land the company was supposed to buy from Charlotte County.

Don't forget that Kitson is also the "Genius" behind the Babcock Ranch Deal-94,000 acres of pristine land that will be turned into a new city of over 50,000 people....it's been challenged by the state and Lee County due to issues with Transportation Impacts.

One point I want to everyone to grasp....This is going to be a major loss on profitability and may harm the success of the project?

Can you imagine the carrying cost on that project?

Don't you wonder what the Board at Morgan Stanley and the Pension funds they represent are feeling like about now. It's on a larger scale then what some individuals are facing in this challenging economy, but make NO mistake this is going to hurt!

Back to the Murdock Village deal.... The county has already invested $105 million dollars to purchase the land for Murdock Village through eminent domain. The interest is costing the county $14 thousand dollars each day. Nice for the Tax payers of Charlotte to know they are paying that kind of money out! Just think what that kind of money could be used for...School teachers, Police and Fire, mental health care, etc.

"I can't see the county accepting Kitson's offer," says Commissioner Tom Moore. "It's not enough money or enough land for the people of Charlotte County."

We'll I hope this gives everyone a healthy does of what poor planning and lack of due dilligence is going to do in Charlotte County and the Morgan Stanley Kitson Group!