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Buck Wolter

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Sand Hills Real Estate News
« on: November 29, 2007, 08:47:10 AM »
Maybe he's a lurker ;)

http://apnews.myway.com/article/20071128/D8T6U9V00.html

Ted Turner's Land Purchases Questioned
 
 

Nov 28, 4:58 PM (ET)

By NATE JENKINS
 
(AP) Some of billionaire Ted Turner's land in Mullen, Neb., is seen in a June 26, 2007 photo. Turner...

MULLEN, Neb. (AP) - Ted Turner's men didn't flinch. As the price climbed past $8 million, $9 million, $9.5 million, they continued bidding at a rapid-fire pace.

When the auction was over, they walked away with what they came for: 26,300 acres of prime ranch land, at a cost of nearly $10 million.

"It hasn't taken long to find out he's serious," said Duane Kime, a rancher and Turner neighbor who was outbid by about $100,000 by the CNN founder.

But what exactly is Turner serious about?
 
The question gnaws at folks here and in other rural areas of the country where people once thought the billionaire just wanted to play cowboy.

Turner has amassed 2 million acres over the past two decades to become the largest private landowner in the country. He owns large chunks of land in 11 states, with most of his holdings in New Mexico, Nebraska, Montana and South Dakota, and is restoring buffalo, cutthroat trout, wolves, black-footed ferrets and other flora and fauna that filled the Plains before the West was won.

His front men say their boss doesn't have a secret agenda - he just wants to be a rancher. But each big buy only heightens the anxiety and gives rise to conspiracy theories, the most ominous of which hold that the swashbuckling Atlanta executive is bent on putting Nebraska ranchers and farmers out of business.

"With him it's such a concern," said Cindy Weller, who lives on the family ranch near Mullen. "You don't know what his plan is and what he's going to do."

Among the theories: Turner is trying to corner the land over the Ogallala Aquifer, the world's largest underground water system, to gain power in the water-starved West.

Or: He is scheming, perhaps with the United Nations, to create a vast wildlife refuge and turn it over to the federal government, removing the land from Nebraska's tax rolls. That could hurt Nebraska schools and other services, which are already starved for cash.

"The entire way of life here is threatened, and it's not just Turner, but he's one reason. The whole area is economically depressed," Weller said.

Mike Phillips, executive director of the Turner Endangered Species Fund, a Turner offshoot, insisted his boss is just a "doggone serious rancher," though one dedicated to preserving the environment.

But Phillips' very presence is making people wonder. He once worked with The Wildlands Project, an environmental group that wants to create a continent-wide network of nature preserves to save endangered species. The Turner Foundation, the charity arm of Turner's empire, has contributed money to it and gives millions to dozens of other environmental groups.

Turner's organizations also have been in discussions with the World Wildlife Fund and the World Conservation Union about conserving bison. The groups have expressed interest in developing a huge park where bison could once again roam the Great Plains.

Actually, Turner's spokesmen say, the driving force behind Turner's land purchases is the desire to make money. Turner's Vermejo Park Ranch in New Mexico, for example, offers weeklong elk hunting excursions at $12,000 a pop. He has also entered the restaurant business with gusto, opening more than 50 Ted's Montana Grill restaurants across the country that feature bison meat.

Turner declined to be interviewed, only accepting written questions answered by spokesman Phillip Evans.

"Our agenda is not to create a vast wildlife preserve," Evans, vice president of Turner Enterprises, said in an e-mail. However, he said, Turner is concerned about preserving animal habitat while ranching. "We think we can do both."

Ron Arnold, head of the Center for the Defense of Free Enterprise and author of several books critical of the environmental movement, said he has studied Turner's activities and come to his own conclusion.

Turner is amassing land for "his own sense of grandiosity," he said. "If he wants to hunt ducks on it, he hunts ducks on it. If he wanted to raise buffalo, he raised buffalo on it. That's all I could conclude."

Turner owns the largest buffalo herd in the country, 45,000 strong, many of them on the 425,000 acres he owns in Nebraska.

The sturdy bison need less attention than cattle, requiring fewer ranch hands. That adds to people's worries here in Hooker County, where there is about one person for every 721 square miles, just 15 kids graduated from high school last year, and the population dropped 3.4 percent from 2000 to 2006.

Another persistent complaint is that Turner's extraordinary ability to outbid just about anyone is driving up land prices, making it tougher for longtime ranchers to expand and keep their operations afloat.

Over the past decade, ranch land in the Sandhills region of the state where Turner owns all his property has more than doubled in price to over $300 an acre.

Kevin McCully, a Mullen-area land broker, said only a part of the increase can be attributed to Turner. Maybe, said Kime, but he just knows he can't compete: The recent auction was the third time in recent years that he was outbid by Turner, who now borders about three-quarters of Kime's ranch.

Kime now wonders whether someday he might have to sell the ranch that has been in the family for generations.

"Turner might be the only one around that would want to buy it," he said.
Those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience -- CS Lewis

Dan Kelly

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Re:Sand Hills Real Estate News
« Reply #1 on: November 29, 2007, 09:37:23 AM »
"Citizen Ted."
"There's no money in doing less." -- Joe Hancock, 11/25/2010
"Rankings are silly and subjective..." -- Tom Doak, 3/12/2016

W.H. Cosgrove

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Re:Sand Hills Real Estate News
« Reply #2 on: November 29, 2007, 09:47:48 AM »
Is Ted buying it as an investment or because he may be one of the few who can still use it rather than letting it return to prairie.  The prairie may be a very good alternative, by the the way.  

Ted paid $380/ and acre.  I owna piece of land in Idaho that is worth about $170k per acre.  If that doesn't make you scratch your head over modern capitalism, I simply don't know what would!

Jerry Kluger

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Re:Sand Hills Real Estate News
« Reply #3 on: November 29, 2007, 09:55:29 AM »
Ted can see the future - as technology evolves he can envision a golf course at 727,000 yards.

Rich Goodale

Re:Sand Hills Real Estate News
« Reply #4 on: November 29, 2007, 09:58:48 AM »
I can see him buying up that Youngscap farm and returing it to the pristine state which it deserves,

RJ_Daley

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Re:Sand Hills Real Estate News
« Reply #5 on: November 29, 2007, 10:46:30 AM »
I gotta go with the notion that Turner is a big idea guy, and has long range plans for the diverse land he is acquiring.

But, Bush probably gave you all a hint at what Turner may have in mind for the prairie portions of his growing inland empire.  The future is in 'switchgrass'.

Quote
from wikipedia "President George W. Bush mentioned this usage in his 2006 State of the Union address [4] [5][6]; since then, over $100 million has been invested into researching the potential fuel source[7].

Switchgrass has the potential to produce the biomass required for production of up to 100 gallons (380 liters) of ethanol per metric ton.[8] This gives switchgrass the potential to produce 1000 gallons of ethanol per acre, compared to 665 gallons for sugarcane and 400 gallons for corn.[9]'

I hope and tend to believe that Turner has a long term outlook for all his land that is more corporately responsible than many corporations now demonstrate.  I think he is acquiring now, and hoping the science catches up to allow an overall land management and rotation and mixed use plan that makes environmental sense, yet is profitable.  I don't think Turner is going to go so altruistic that he overlooks the capitalistic need for efficient use and profit.

No actual golf rounds were ruined or delayed, nor golf rules broken, in the taking of any photographs that may be displayed by the above forum user.

Dan Kelly

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Re:Sand Hills Real Estate News
« Reply #6 on: November 29, 2007, 10:57:57 AM »
"You provide the prose poems. I'll provide the switchgrass."
"There's no money in doing less." -- Joe Hancock, 11/25/2010
"Rankings are silly and subjective..." -- Tom Doak, 3/12/2016

RJ_Daley

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Re:Sand Hills Real Estate News
« Reply #7 on: November 29, 2007, 11:16:32 AM »
Energy and fuel production is stimulating a number of big players to buy up all the land they can.  T Boone Pickens (having run the cylces of boom and bust in the petroleum oil biz) now has his eye on acquiring all the oil shale and tar sand land he can in Canada.  

I have no idea how compatible tar sand land is to reclamation or rehabilitation and conversion to golf course property.  Being in the great white north to begin with, I would bet Picken's land use is limitted or zero.  Whereas, Turner's vision has far potential for multi-use and recycling or rotation.  
No actual golf rounds were ruined or delayed, nor golf rules broken, in the taking of any photographs that may be displayed by the above forum user.

Craig Sweet

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Re:Sand Hills Real Estate News
« Reply #8 on: November 29, 2007, 11:51:00 AM »
There is no "Ted's Montana Grill" in Montana....so what sort of guy does that?

Bob_Huntley

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Re:Sand Hills Real Estate News
« Reply #9 on: November 29, 2007, 12:10:30 PM »
You control the land, you control the water.

The aquifer up there is rather like the oil under the Saudi Arabian sands, copious. Water transfers will become a thriving sector in the financial world.

Bob

Craig Van Egmond

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Re:Sand Hills Real Estate News
« Reply #10 on: November 29, 2007, 12:13:55 PM »

Bob,

Boone (OSU alum and HUGE contributor to the athletic program!)  is also buying up all the water rights all over Texas and surrounding states.  

james soper

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Re:Sand Hills Real Estate News
« Reply #11 on: November 29, 2007, 12:24:17 PM »
You control the land, you control the water.



Bob

sounds similar to the plot in 'chinatown'. ted turner, a modern day noah cross.
« Last Edit: November 29, 2007, 12:25:05 PM by james soper »

Adam Clayman

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Re:Sand Hills Real Estate News
« Reply #12 on: November 29, 2007, 12:25:27 PM »
Oprah mentioned Turner's proclivity a few years ago. Many of the mega wealthy are following suit.

As for the area being hit with hard times, that is a bit mis-leading. Most of the Cowboy market is shrinking everywhere. Farmer's are not hurting, ranchers are not hurting.
"It's unbelievable how much you don't know about the game you've been playing your whole life." - Mickey Mantle

Dan Kelly

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Re:Sand Hills Real Estate News
« Reply #13 on: November 29, 2007, 01:38:35 PM »
You control the land, you control the water.

sounds similar to the plot in 'chinatown'. ted turner, a modern day noah cross.

"Forget it, Jake. It's the Sand Hills."
"There's no money in doing less." -- Joe Hancock, 11/25/2010
"Rankings are silly and subjective..." -- Tom Doak, 3/12/2016

Jason Hines

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Re:Sand Hills Real Estate News
« Reply #14 on: November 29, 2007, 01:48:57 PM »
Being a huge property rights advocate, he can do what he wants with it.  My opinion of what he will do:  Purely environmental which is basically going on today no matter who owns the Sand Hills.
« Last Edit: November 29, 2007, 01:52:34 PM by Jason_Hines »

Mike Benham

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Re:Sand Hills Real Estate News
« Reply #15 on: November 29, 2007, 02:03:03 PM »
I think the clock is up in Ted's $ 1 billion donation to UN causes ($ 100 million a year for 10 years in Time Warner stock) ...

Now that he is out from under that burden, he is probably just spending his petty cash money in speculation ;)
"... and I liked the guy ..."

Matt MacIver

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Re:Sand Hills Real Estate News
« Reply #16 on: November 29, 2007, 02:06:36 PM »
Even I could find 18 good golf holes among 23,600 acres...might not be walkable though.  

Scott Stambaugh

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Re:Sand Hills Real Estate News
« Reply #17 on: November 29, 2007, 10:14:57 PM »
I once read that one of Ted's goals was to be able to have continuous ownership of property from the Canadian border to Mexico.  Maybe he's getting close?

Dan Kelly

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Re:Sand Hills Real Estate News
« Reply #18 on: November 30, 2007, 08:35:03 AM »
I once read that one of Ted's goals was to be able to have continuous ownership of property from the Canadian border to Mexico.  

I once read that one of Ted's goals was to *eliminate* those borders!

"There's no money in doing less." -- Joe Hancock, 11/25/2010
"Rankings are silly and subjective..." -- Tom Doak, 3/12/2016