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WESTLAND
SAID TO HAVE MAILED PROXIES Company
Sets Shareholders Meeting for |
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From Mr. James Aranda, Co-chair, Concerned Heirs of Atrisco August 10, 2006
Hello All,
Good news!!! The numbers from the polling we did the first week of June (for the last offer) came back better than expected. Please forward this to all of your Atrisco contacts--we need to get these numbers out to let folks know that a majority of us are AGAINST the sale!!!! Here are the results: AGAINST: 42% (362 shareholders holding 38,858 shares) FOR THE SALE: 33% (190 shareholders holding 31,015 shares): UNDECIDED: 21% (102 Shareholders holding 19,468 shares) FOR BUT WERE CHANGING THEIR VOTE TO AGAINST: 2% (53 shareholders holding 2,445 shares) ------------ TOTAL SHARES POLLED: 91,786 (11.5%) TOTAL SHAREHOLDERS POLLED: 707 (11.5%) *Poll was conducted between May 3rd and June 8th 2006. James M. Aranda Community Planning Consultant 2901 Phoenix Pl NW Albuquerque, NM 87107 Mobile: (505) 235-3317 E-mail: atlixko@yahoo.
CARPETBAGGERS IN A BIDDING WAR
According to the July 8
edition of the Albuquerque Journal, SunCal also sweetened the
deal by offering to furnish $2 million of the $1 million per year to be made
to the "Atrisco Heritage Foundation." SunCal's proposal also
offered to create a " . . . New Mexico limited liability company to be named
Atrisco Oil & Gas LLC, into which Westland would assign 100 percent of all
rents, royalties and other benefits to which Westland is entitled under
current oil and gas leases, and 50 percent of Westland's existing mineral
rights," according to the |
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LATEST
WESTLAND PRESS RELEASE SEDORA RAISES THEIR BID (From $200 to $305 in just a few months!) Press Release Source: Westland Development Co. Inc. Westland and SHNM Acquisition Corp. Agree to Increased Price for Acquisition of Westland Monday June 5, 4:50 pm ET ALBUQUERQUE, N.M.--(BUSINESS WIRE)--June 5, 2006--On June 5, 2006, Westland Development Co. Inc. announced that it had amended its existing merger agreement with SHNM Acquisition Corp., to increase the price to be paid for each share of Westland common stock from $266.23 in cash to $305.00 in cash. The purchase price to be paid, pursuant to the amended agreement with SHNM, represents an increase of $38.77 (or 14.6%) over the price agreed upon in the existing merger agreement. In addition to increasing the purchase price to be paid for each share of Westland common stock from $266.23 to $305.00 in cash, the amendment also modified the existing merger agreement with SHNM in the following respects, among others: * SHNM has agreed to promptly reimburse Westland for up to $3 million in expenses incurred by Westland upon presentation of reasonable substantiating information; * the surviving company in the merger will contribute to a newly formed charitable organization, the Atrisco Heritage Foundation, $1 million per year for the next 100 years, and will also contribute to the Atrisco Heritage Foundation 100% of the royalties, if any, received under Westland's existing oil and gas leases and 50% of the royalties, if any, received from any oil and gas leases entered into after the effective time of the merger; * prior to the completion of the merger, Westland will now be permitted to enter into contracts related to the future development of the Petroglyphs in the ordinary course of business without the consent of SHNM, so long as such contracts do not result in sales or liabilities in excess of $1 million, and Westland has obtained competing bids from at least two bidders; and * the termination fee payable by Westland in certain circumstances has been raised to $10 million, to match the termination fee proposed in the SunCal offer, which is further described below. Westland and SHNM amended the merger agreement after Westland received an offer on May 30, 2006, from SunCal Cos. that Westland's board of directors then determined to be a "superior proposal" (as that term is defined in the merger agreement with SHNM). In its offer, SunCal proposed to purchase Westland for $280.00 per share. After being presented with the amended agreement from SHNM, Westland's board of directors determined that the SunCal offer was no longer superior, and rejected it. The purchase price of $305.00 in cash per share to be paid pursuant to the amended agreement with Westland represents an increase of $25.00 (or 8.9%) over the price offered by SunCal. On June 1, 2006, Westland also received an indication of interest from NM Land Acquisition, LLC, which proposed to acquire Westland for $301.92 per share. In light of the amended agreement with SHNM, which included the higher purchase price described above, Westland's board of directors determined that the proposal by NM Land Acquisition, LLC was not a "superior proposal" and rejected it as well. The proposals by SunCal and NM Land Acquisition, LLC were considered by Westland pursuant to a provision in the merger agreement with SHNM that permitted Westland to consider legitimate acquisition proposals submitted to Westland by other interested parties. Westland's board of directors unanimously approved the amended merger agreement with SHNM, and recommends that Westland's shareholders vote FOR the approval of the amended merger agreement at the special meeting of shareholders, or any postponement or adjournment thereof. Westland has previously scheduled and announced a special meeting of shareholders relating to the merger agreement, as well as the election of three Class C directors to be held on Thursday, June 8, 2006, at 9 a.m. New Mexico time, at the Hotel Albuquerque (formerly Sheraton Old Town), 800 Rio Grande Blvd., N.W., Albuquerque, N.M. 87104. The time, date and place of the special meeting have not changed. In light of the developments with respect to the merger agreement announced today, however, Westland intends to proceed with the election of the three Class C directors at the June 8 special meeting, though the amended merger agreement will not be voted on at that time. Westland intends to mail supplemental proxy materials relating to the amended merger agreement to its shareholders so as to provide an update with respect to recent developments and the changes made to the merger agreement. Additionally, Westland intends to take appropriate action at the special meeting of shareholders to adjourn the meeting so as to allow shareholders sufficient time to receive and review supplemental proxy materials containing updated disclosure and to consider how to vote. At the special meeting, Westland will announce the details as to when and where the special meeting will be reconvened. The holders of the proxies returned to Westland prior to the special meeting intend to vote the shares for which they have discretionary authority in favor of such adjournment, unless such proxies indicate otherwise. As such, a vote with respect to the merger agreement will not occur on June 8, 2006, but will be considered when the special meeting is reconvened. Westland shareholders that have already submitted a proxy in favor of the merger agreement may revoke their proxy at any time prior to when the meeting is reconvened, or any subsequent adjournment or postponement thereof. Any previously received proxy that is not revoked will be voted in accordance with the instructions in such shareholder's proxy. The Proxy Statement A DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED MERGER WITH SHNM WAS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AND MAILED TO WESTLAND'S SHAREHOLDERS ON APRIL 24, 2006, AND WESTLAND INTENDS TO FILE AND MAIL SUPPLEMENTAL PROXY MATERIALS SHORTLY. SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTAL MATERIALS FILED AND MAILED BECAUSE THEY DO AND WILL CONTAIN IMPORTANT INFORMATION. The definitive proxy statement, any supplement thereto and other relevant materials and other documents filed by Westland with the SEC may be obtained free of charge at the SEC's Web site at www.sec.gov. In addition, investors and shareholders may obtain free copies of such documents filed with the SEC by contacting Westland Development Co. Inc., Robert Simon, at 505-831-9600, or by written request mailed to Westland Development Co. Inc., Robert Simon, 401 Coors Blvd., NW, Albuquerque, N.M. 87121. Westland and its executive officers and directors and other persons may be deemed to be participating in the solicitation of proxies in connection with the merger. Other information regarding the participants in the proxy solicitation and a description of their interests, by security holdings or otherwise, will be contained in the definitive proxy statement and other relevant materials to be filed with the SEC when they become available. Forward-Looking Statements Statements about the expected timing, completion and effects of the merger and all other statements in this release other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date hereof, and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Westland may not be able to complete the merger on the terms described above, or other acceptable terms or at all, because of a number of factors, including the failure to obtain shareholder approval or the failure to satisfy the other closing conditions contained in the merger agreement. These factors are more fully described in the definitive proxy statement filed with the SEC and mailed to Westland's shareholders on April 24, 2006, and the supplemental proxy materials Westland intends to file with the SEC and mail to its shareholders shortly.
Contact: Westland Development Co. Inc., Albuquerque Barbara Page, 505-831-9600 Source: Westland Development Co. Inc.
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NEW OFFER!
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 30, 2006
WESTLAND DEVELOPMENT CO., INC. (Exact Name of Registrant as Specified in Its Charter)
New Mexico (State or Other Jurisdiction of Incorporation)
(505) 831-9600 (Registrant’s Telephone Number, Including Area Code)
_______________N/A_________________ (Former Name or Former Address, if Changed Since Last Reports)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
On May 23, 2006, Westland Development Co., Inc. ("Westland") received a preliminary acquisition proposal from SunCal Companies (“SunCal”) to acquire all of Westland's outstanding shares of capital stock for $280.00 per share, a 5.2% increase over the price agreed upon in the Agreement and Plan of Merger entered into between Westland and SHNM Acquisition Corp. ("SHNM") dated February 24, 2006, as amended (the "SHNM Merger Agreement"). On May 30, 2006, Westland's board of directors received a second letter from SunCal formally offering (the "SunCal Offer") to acquire, through a merger with SCC Acquisition Corp., a subsidiary of SunCal ("SCC"), all of the outstanding shares of Westland’s common stock at a price of $280.00 per share on terms nearly identical to the terms of the SHNM Merger Agreement with certain changes. This letter was updated on May 31, 2006. After a review of the terms of the proposal and consultation with Westland’s counsel, Westland’s board of directors determined that the SCC acquisition proposal was a "Superior Proposal" (as that term is defined in the SHNM Merger Agreement) and so informed SHNM. Westland and SHNM have agreed that if SHNM does not agree to revise the SHNM Merger Agreement in a manner such that the SCC Offer would no longer be considered a "Superior Proposal" by 12:00 New Mexico time on June 5, 2006, Westland may terminate the SHNM Merger Agreement and Westland will be free to enter into a definitive agreement with SCC, subject to the payment of the requisite termination fee and return of amounts deposited with Westland pursuant to the SHNM Merger Agreement.
Westland's press release relating to the SunCal Offer is attached as Exhibit 99.1 hereto and incorporated herein by this reference.
Forward Looking Statements
Statements about the expected timing, completion and effects of a merger and all other statements in this filing other than historical facts constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Westland may not be able to complete any merger because of a number of factors, including the failure to obtain shareholder approval or the failure to satisfy other closing conditions. These factors, as they relate to the Merger Agreement, are more fully described in the definitive proxy statement filed with the SEC and mailed to Westland's shareholders on April 24, 2006.
(c) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EXHIBIT INDEX
Exhibit 99.1
FOR IMMEDIATE RELEASE –May 31, 2006
Albuquerque, May 31, 2006 – On May 31, 2006, Westland Development Co., Inc. announced that on May 30, 2006, it received an acquisition proposal from SunCal Companies of Irvine, California, offering to purchase all the outstanding shares of Westland common stock, through a merger with its subsidiary, SCC Acquisition Corp. ("SCC"), for a price of $280.00 per share. The proposal letter was updated on May 31, 2006.
After reviewing the terms of the proposal, Westland’s board of directors determined that the SCC offer was a "Superior Proposal" to the merger contemplated by the merger agreement, as amended, entered into by Westland and SHNM Acquisition Corp. ("SHNM") on February 24, 2006, as that term is defined in that merger agreement. The merger agreement with SHNM provides for a payment of $266.23 in cash per share of issued and outstanding Westland common stock.
In light of the receipt of the "Superior Proposal", under the terms of the merger agreement with SHNM, Westland must negotiate in good faith with SHNM to make such adjustments in the terms and conditions of the Merger Agreement such that the SCC offer would no longer constitute a "Superior Proposal". Westland and SHNM have agreed that if SHNM does not agree to revise the merger agreement in a manner such that the SCC offer would no longer be considered a "Superior Proposal" by 12:00 New Mexico time on June 5, 2006, Westland may terminate the merger agreement with SHNM and will be free to enter into a definitive agreement with SCC, subject to the payment of the requisite termination fee and return of amounts deposited with Westland pursuant to the merger agreement with SHNM.
The other terms of the SCC offer are nearly identical to the merger agreement entered into with SHNM, but SCC's offer provided that if a merger agreement is entered into between SCC and Westland: (i) SCC will reimburse Westland for up to $3 million of its expenses upon presentation of reasonable substantiating information; (ii) the surviving company in the merger will distribute to either Westland's shareholders or a charitable trust, all of Westland's oil and gas revenues, if any, from current leases, and 20% of Westland's oil and gas revenues, if any, from future leases which come into existence after the completion of the merger; (iii) SCC will be entitled to $5 million in liquidated damages if SCC terminates that agreement because of Westland’s breach of the representations, warranties or covenants and such breach results in damages to SCC in excess of $500,000; and (iv) Westland will be permitted to enter into contracts related to future development of the Petroglyphs in the ordinary course of business provided any such contract would not result in liabilities in excess of $1 million and was competitively bid by at least two third parties. Additionally, SCC's offer proposes to increase the termination fee payable in connection with a termination of a merger agreement in certain circumstances from $5 million to $10 million.
The time, date and place of the Special Meeting of Shareholders relating to the merger agreement with SHNM have not changed. The Special Meeting is still scheduled to be held on Thursday, June 8, 2006, at 9:00 A.M. New Mexico time, at the Hotel Albuquerque (formerly Sheraton Old Town), 800 Rio Grande Blvd., N.W., Albuquerque, New Mexico 87104. In light of the developments with respect to the merger agreement announced today Westland intends to mail additional proxy materials to its shareholders to provide an update with respect to recent developments. The Proxy Statement A DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED MERGER WITH SHNM WAS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AND MAILED TO WESTLAND’S SHAREHOLDERS ON APRIL 24, 2006. SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION. The definitive proxy statement and other relevant materials and other documents filed by Westland with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders may obtain free copies of such documents filed with the SEC by contacting Westland Development Co., Inc., Robert Simon, at (505) 831-9600 or by written request mailed to Westland Development Co., Inc., Robert Simon, 401 Coors Blvd, NW, Albuquerque, NM 87121.
Westland and its executive officers and directors and other persons may be deemed to be participating in the solicitation of proxies in connection with the merger. Other information regarding the participants in the proxy solicitation and a description of their interests, by security holdings or otherwise, will be contained in the definitive proxy statement and other relevant materials to be filed with the SEC when they become available.
Forward Looking Statements
Statements about the expected timing, completion and effects of the merger and all other statements in this release, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Westland may not be able to complete the merger on the terms described above or other acceptable terms or at all because of a number of factors, including the failure to obtain shareholder approval or the failure to satisfy the other closing conditions. These factors, as they relate to the merger agreement with SHNM, are more fully described in the definitive proxy statement filed with the SEC and mailed to Westland's shareholders on April 24, 2006.
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From KOB-TV: Albuquerque, New Mexico A group of heirs of a historic land grant say their land is more valuable than ever as a fight over whether to sell the land continues. More than 300 years ago, New Spain gave 55,000 acres of land to settlers in the Atrisco land grant. Now, the heirs of those settlers are considering an offer from a Nevada development company to buy the land, which they’ve put in control of Westland Development, a company they formed to manage the land. A group of shareholders called the Concerned Heirs of Atrisco says the land is worth a lot more than the Nevada company has offered. Documents they filed in court earlier this month say the land is worth nearly twice any offer. Estimates say between 100 million and half a billion barrels of oil lay beneath the land, which could mean hundreds of millions of dollars to shareholders. “We feel that once shareholders are informed shareholders – informed about the issues at hand – I doubt they want to sell their land at 10 cents on the dollar,” said Jerome Padilla with the Concerned Heirs of Atrisco. James Aranda, also with the group, says they don’t want to stop the shareholders from voting whether to accept the offer or not. “What we want is a fair and equitable election,” he said, “and we feel the way the election is currently being conducted, and the confusing and contradicting statements written in the proxy, will not allow for that to happen.” The Concerned Heirs of Atrisco plan to file a lawsuit to delay the June 8 vote. Two other groups of shareholders have also filed a lawsuit against the board. Eyewitness News 4 tried contacting Westland Development, but the company didn’t return phone calls.
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WESTLAND MAILS PROXY SOLICITATION
TO SHAREHOLDERS
Hired Westland Runners are out collecting proxies
Do not give them your proxy. Attend the meeting!
You as a shareholder will decide the future of the 300 year
heritage of
the Atrisco Land Grant
Will you vote to terminate our connection to this precious land
by selling out to outsiders? Or will you vote to continue a heritage that will
benefit all of our people far into the future?
THE DECISION IS YOURS!
To sell out, place an "X" in the FOR box
or
Simply sign your name on the proxy and mail it in, thereby
handing over your share-votes to Sosimo Padilla and Barbara Page.
They will vote your shares FOR selling Westland and all its assets to outsiders.
(But think; even if you are for selling out,
IS THIS REALLY THE BEST DEAL POSSIBLE???
The NM Business Journal, interviewing Sosimo Padilla 16 years ago, said
it is a "billion dollar plum ripe for the picking!"
http://www.findarticles.com/p/articles/mi_m5092/is_n4_v14/ai_8484848
What's the hurry? And why give it away to strangers?
Why sell for a few millions what is worth BILLIONS?)
x
Stand up for your heritage and our future
VOTE AGAINST
the "Agreement and Plan of Merger"
(Why do they call it a merger when
it is a sell-out?)
IF YOU DO NOT MAIL IN YOUR PROXY,
IS THAT A VOTE AGAINST THE MERGER???
There is contradictory information in the Proxy and the sale terms
(See Quick Facts)
IN ANY CASE, PLEASE MAKE EVERY EFFORT TO
ATTEND THE SPECIAL MEETING
OF THE WESTLAND SHAREHOLDERS TO
VOTE YOUR SHARES IN PERSON
Westland Special Meeting of
Shareholders
Thursday, June 8, 2006
9:00 a.m. at Hotel Albuquerque (formerly Sheraton Old Town),
800 Rio Grande Blvd., Albuquerque, NM 87104
| WESTLAND
FILES PROXY
Westland Development Co Inc. released on Thursday, 4/6/06, a 1-document,
105-page 'PREM14A'
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*FOR IMMEDIATE RELEASE Vigil Event*
*March 28, 2006
*After 7 months Books and Records available to Shareholders
*We ask you to join us in a Vigil at Westland Corporate Headquarters on
Saturday, April 1 at 12 noon*
Atrisco Heirs and Westland stockholders opposed to the sale of traditional Atrisco Grant Lands will hold a vigil at Westland Corporate Headquarters on Saturday, April 1 at 12 noon. A press statement is scheduled at 12:30pm where Concerned Heirs of Atrisco will outline their concerns regarding the auction of their traditional lands. Westland Corporate headquarters are located at 401 Coors NW at (Bluewater).
Our goal is to communicate and make sure Shareholders and Heirs are informed about the current status of Westland Corporation, ("Westland") as many shareholders are not aware of the pending sale and or merger. Since September 2005, Shareholders and Heirs have made repeated requests for information, part of which includes corporate books and records. Westland has been reluctant to provide us with valuable information about the future of our company and the potential loss of our lands These requests have been ignored even though they are in full compliance with New Mexico State Statute 53-11-50. Concerned Heirs of Atrisco continue to pursue and find alternative ways to engage Westland management in meaningful dialogue with Heirs and Shareholders. This sustained resistance by Westland to share information with Heirs and Shareholders has resulted in us having to seek legal remedies to protect our rights. As a result we have retained the legal firm of Freedman Boyd Daniels, Hollander & Goldberg P.A.
Today, after almost 7 months of requesting corporate books and records and repeated attempts to communicate with Westland, they have finally decided to meet our demands and have agreed to allow the review of the requested corporate documents. We will work with our legal team to review the books and records and any other materials or documents necessary to satisfy our goals of full disclosure.
Although we are victorious in getting this information, it is unfortunate that we had to take legal action in order to be heard. We are confident that this information will assist us in our goal to be informed shareholders and to inform others of the current state of affairs of Westland and our assets.
We want to thank all of the heirs and shareholders who assisted us in our fundraising efforts and want to remind them that the battle has only begun. We will continue our outreach efforts and will continue fundraising to support our demands on Westland.
A slew of buyers are seeking to take control of Westland and the entire grant area in a speculative deal that lacks appropriate communication with Heirs. The question still remains why sell? The current offer from "Sedora works out to about $3,500 an acre for Westland's property -- a steal compared with the $600,000 to $1 million per acre many builders now pay for developable land in the Las Vegas Valley. The Westland tract is more than twice the size of the 22,500-acre Summerlin community, Southern Nevada's largest master plan; Westland's holdings are bisected by Interstate 40 and sits just west of Albuquerque's central business district. - Mar. 21, 2006, Copyright © Las Vegas Review-Journal
The current buyer , Las Vegas Developer, Jim Rhodes, as noted in a Las Vegas newspaper recently settled with the government has admitted to" illegally funneled contributions to two Democratic candidates through his employees and has paid nearly $150,000 in fines" .(Ball, M. (2006, March 10) /Las Vegas Review-Journal.
BIG MEETING:
Our outreach efforts continue and a meeting for all heirs and shareholders will be hosted by the Concerned Heirs of Atrisco on Saturday April 29, 2006, Rio Grande High School Performing Art Building, 2300 Arenal Rd. SW at 1:30 p.m.For more info visit our discussion web site
http://groups.yahoo.com/group/atriscoheirs/
or call Jerome Padilla 246 1800
"ARIZONA DEVELOPER IS FORCED
OUT OF LAND DEAL"
Albuquerque Journal, March 1, 2006
According to this article by Rory McClannihan, Westland Development Co. Inc. terminated its agreement with ANM Holdings when they failed to meet the terms of a new offer from Sedora Holdings, a Nevada corporation controlled by developer Jim Rhodes. The Westland Board now must pay ANM a $5 million termination fee (¡que carajo, eh?!).
ANM's offer was for $200 a share, while Sedora Holdings is offering $255 per share. Sedora is also offering one million dollars per year for 100 years to be controlled by Sedora Holdings to set up a trust for the establishment of a "cultural center." Sedora would control this after the buyout but would establish an "advisory council" consisting of up to five current Westland board members (¡olor de ratas!). Sedora further specifies that it would contribute the funds only if Westland signs over the oil and gas rights in the proposed purchase. Another company, "Atrisco Heritage, LLC" (¡hasta el nombre nos quieren robar!) offered $300 per share but Westland declined the offer as the board of Atrisco Heritage had not yet approved the offer.
Folks, if the sale price goes up $50 a share every week or so, the current offer of $311 million for over 55,000 acres is clearly a mere pittance, a tiny fraction of its commercial worth. To those shareholders and heirs living in Southern California - What if you or your parents had been able to buy the land east and south of L.A. back in 1940. You would be billionaires right now. That's what our land here will be worth, billions. Albuquerque is bursting at the seams. It can't grow east - the mountains are in the way, it can't grow north - Sandia Pueblo is in the way and they're not selling, the City can't grow south - Isleta Pueblo is there and they're not selling either; Albuquerque could only spread west, onto OUR LAND. The carpetbaggers are hungry for it - but hermanos WE STAND IN THE WAY! Many of us believe it is priceless because it represents far more than dollars - it represents who we are as a people of this land! Let it be us who determine how our land will be used. Let us use it wisely for the benefit of our people - in perpetuity.
