Monday, November 20, 2006

From each according to their gullibility?

Real estate is no game for amateurs, even in former Communist countries:

Prague- The Communist party of Bohemia and Moravia (KSCM) may lose over 60 million crowns due to the disadvantageous agreements on the sale of its headquarters in Prague's centre and the purchase of a building under construction in Prague-Vysocany, which eventually did not materialise, KSCM deputy chairman Jiri Dolejs told journalists.

The Communists have given a deposit of 20 million crowns for the purchase of their new headquarters and as they changed their mind, they may lose the money. Besides, they can be penalised another 40 million crowns for the sale of the old building, which did not materialise, Dolejs said.

"If costs for a mediator are added, the loss may be even higher," Dolejs said, adding that he believed that the loss could still be pushed under 30 million crowns.

"This is still my hope," Dolejs said.

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