To the editor:
 
After Regions Bank bought AmSouth, large numbers of workers were laid off, damaging workers and the economy of the Greater Birmingham region. Now they have damaged our economy even more.
 
Regions is essentially evicting Sonat from its downtown building, in which Sonat occupied 7 1/2 floors. Sonat is following the path of least resistance in moving out of the city to the suburbs, leaving Birmingham hurting for the tax dollars Sonat has paid here.
 
We have to remember that Sonat was sold a few years ago to El Paso Energy, and that sale reduced the Sonat workforce by over half, again hurting Birmingham workers and our tax base.
 
The plethora of mergers in recent year of financial and energy corporations has resulted in huge monopolies, out-of-work citizens and constant assaults on the tax bases of our cities.
 
Adam Smith, in “The Wealth of Nations” (the :Bible” of capitalism), pointed out that without government regulation of corporations, they will become monopolies and destroy the very competition that is the life-blood of capitalism 
 
With the Bush administration’s refusal to block any monopolies that are being created by these mergers, Bush and the giant monopolies are destroying the very capitalism they praise the most.
 
Where is Teddy Roosevelt when we need him?  Remember, he was a real Republican, a trust-buster. It makes you wonder what the guys in power today are.
 
Jack Zylman
Southside, Birmingham

Sonat Leaving Downtown Birmingham Base: Gas Company Moving to Homewood

Tags: Letters to the Editor

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