While watching I love the 80s 3D I learned that Kim Basinger bought the town of Braselton, Georgia. How can a private person own a whole town? Wikipedia says it’s current population is about 1200. Did she own all the land in the town (including private homes) or just the roads, town hall, etc? Who did she buy it from? What about the local government? Did it continue to exist? Did she have power over (ala a feudal lord)?
I figured thats what you where on about. I live in GA and didnt know that Kim owned Braseltown.
I guess its a formality that zeros out debts, and lines the pockets of a few officials.
Case in point. I don’t think its a real big deal.
A california town was put up on Ebay a few years back. Who remembers that?
Even better example. I can’t name all the American Idols.
Meeko, you seem to be saying that if you don’t remember something it no longer happened.
Kim Basinger bought Braselton in 1989 for $20,000,000. What Basinger was buying were the assets owned by the town government - the most valuable of which was approximately 2000 acres of land. The Braselton area was undeveloped but in the vicinity of Atlanta and Basinger figured she could develop the land and increase its value. But she had to declare bankruptcy (for other reasons) in 1993 and sold the property for $1,000,000. Wayne Mason, the current owner, is offering the land to developers. He’s already sold tracts for more than the $20,000,000 Basinger paid so theoretically her plan made sense.
At one time (I’m not sure there are still any such places) there were “Company Towns” where one corporation owned not only the major industry in the town, which employed most of the town’s workforce, but also the stores and was the landlord for all the housing. If you wanted to work for that company, you lived in the town, rented your home from the company, and bought your food, clothing, and such from stores owned by the company.
Hey, I know that guy! I used to live a mile or two away from him, then moved and lived a few houses down from his brother!
Nothing to add here, it’s just weird to see the name of someone you personally KNOW on the SDMB.