The scandal with the Norwegian towns investing in Terra made it all the way to the US?
It's embarrasing, really. A bunch of towns got offered this deal from Terra. Now, there were these advisors from Terra who lured them into it. How can someone trust the advisors who work for the company who will profit from the investment? In the agreement the Terra guys even specifically stated that the towns were not to seek advice with any independant advisors.. you should smell something fishy at that point
These Terra people were practically walking door to door along Norway asking LOTS of towns to do the investment, most people just laughed at them, like a town just north of us (and it's not like the towns administrations don't talk to eacother).
My home town of Mo i Rana (or, old home town, as I'm in Trondheim now studying) invested in this too, out of the 3 (I think it was 3) towns, we will probably be the ones who get out of it in the best shape, since we're the biggest.
I hope this doesn't harm the planning and approval of getting an airport in my town (Mo i Rana). We do have one already, but we need a bigger one, which is under planning, and that stuff requires a lot of money. Our neighbouring town of Hemnes also invested in Terra Securities and they are also in on the airport thing.. That's really bad, because our town really needs that airport to grow.
The Terra Securities people lied, and that's bad, but it was also very stupid for the towns to get in on this investment..
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