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Thursday, August 25, 2005

Cuba Seizes Land of U.S. Company

That's not big news, Fidel Castro nationalized lots of U.S. company property in the 60s. What's interesting about the seizure described in this Miami Herald story is that it happened only a couple of years ago:

Four decades after Fidel Castro's government had apparently seized all foreign-owned properties in Cuba, it now turns out that a U.S. telephone company retained some 400 acres of land in and around Havana until just two years ago.

News of the surprising landholdings came after Starwood Hotels and Resorts Worldwide -- owners of the Sheraton hotel chain -- filed a complaint last week with the U.S. Justice Department for $63 million worth of land it said the Cuban government seized in 2003 from a Starwood subsidiary.

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