All posts by James Bowley

Will German Larrea The Second Richest Man In Mexico Destroy Miami?

Will German Larrea make friends or lose money in Miami?

Are all the derogatory comments made by President Donald Trump about Mexican’s true? We will soon find out! German Larrea the second richest man in Mexico bought the Florida East Coast Railway. Larrea’s purchase may fit well within his Grupo Mexico mining Corporation in Mexico, but it might not be a well suited match for Miami.

Larrea comes with a lot of baggage. He is targeted by the United Nations for being responsible for the worst ecological disaster in Mexican history. In August 2014 Larrea was responsible for the spilling of 10 million gallons (40,000 cubic meters) of copper sulphate and heavy metals into the Sonora and Bacanuchi rivers.

This environmental disaster affected 24,000 people directly and 250,000 people indirectly. Mexico’s Federal Environmental authorities found 55 irregularities in Laura’s company’s activities. The incident shut down all the local schools and 322 drinking Wells. Larrea took responsibility for the disaster and was fined 23 million pesos (about 1.8 million) and agreed to contribute to a trust fund of 2 billion pesos (about 154 million).

Since then he never apologized for the incident and has yet to pay his fines in three years. The UN says this is not his first environmental disaster and has helped file criminal charges.

Now Larrea will be responsible for moving hazardous material through crowded downtown Miami, inside of 22+ cargo trains a day. The increase of transporting hazardous material will be the only way Larrea can recoup the 2 billion+ dollars he spent buying Florida East Coast Railway.

Downtown Traffic, Hazardous material, and Trains don’t mix.

Experts find it impossible for Larrea to run 22 cargo trains through downtown Miami without major catastrophes. There has been talk of condemnation of Florida East Coast Railway property to stop this foreseeable disaster from happening.

Larrea has already started off on the wrong track when it comes to respecting the citizens of Miami. Larrea and Florida East Coast Railway are being sued by the community of Overtown.

It has come to light that the Florida East Coast Railway police officers, that were used to arrest hundreds of Overtown residents, did not have police authority. Like his victims in Mexico Larrea is taking a hard-line approach in using his vast fortune to put down the people of Overtown.

Larrea’s Jacksonville Attorney Eric Leach of Milton, Leach, Whitman, D’Andrea and Eslinger, P.A. responded by phone. “We’re not giving them anything in terms of a settlement. We are taking this personal. They just want a free ride”, said Leach about the court action.

A high-level supervisor has confirmed the corruption of Florida East Coast Railway against Overtown. This confirmation almost guarantees victory for Overtown in court. A complaint is being filed against Leach’s firm for producing false affidavits.

Florida East Coast Railway and All Aboard Florida claims were not so bold when they were begging the Overtown Community for money to help fund their projects.

In the meantime Larrea’s reputation of being an unreasonable man is growing. The fights he chose to start on Fisher Island against Fisher Island Holdings, LLC gives hint to his unreasonability.

Should the market and his shareholders be concerned with his judgment?

Larrea will need a lot of friends in Miami if he wants to make a profit with Florida East Coast Railway.

As of now his Miami adversaries are in position to milk Larrea for hundreds of millions of dollars.