Best Investment Tip

Buy Land in Payette County, Sell it To Those Who Think a Nuclear Reactor Will Draw Thousands of Jobs, Then Get Out of Town, Quick

September 21, 2011

Nothing smells more like money than nuclear jobs. But in the case of tiny Eagle startup Alternate Energy Holdings Inc., the result ended up smelling more like a nuked gas station burrito. Bursting onto the Southern Idaho scene in 2006 with hefty promises to build the nation's first commercial reactor plant in decades (and create "thousands" of jobs), AEHI squabbled with enviro foes like the Snake River Alliance, pulled up stakes in Owyhee County, then moved to Elmore County, then moved to Payette County. All the while, CEO Don Gillispie (a smooth talker from ol' Virginny) was pumping stock with a deluge of Prozac-inspired press releases--at least according to the Securities and Exchange Commission, which accused the owners of fraud and barred them from selling stock. Long story short, AEHI was back in business after a court hearing but new SEC charges are pending.

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