FROM THE ARCHIVE
Cayuga defend $1.7B figure
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AUGUST 16, 2000 Cayuga Nation members defended a $1.7 billion figured calculated by Peter Temin, an economics professor from the Massachusetts Institute of Technology, saying the amount is due them for being denied rightful ownership of their land for 200 years. Although the Cayuga have won their land claims case, they can no longer reclaim approximately 64,000 acres of land in New York State. So as part of the final phase of their case, US District Court Judge Neal McCurn has to decide on the final value of the land. On Monday, Temin presented the $1.7 billion figure, based on the compounded annual interest of the risk-free rate of U.S. Treasury bills from 1795 to 2000. He applied the rate to $36.9 million a jury awarded the nation in February Get the Story:
Cayugas seek $1.7B award in land case (The Albany Times-Union 8/15) Relevant Links:
Peter Temin, Massachusetts Institute of Technology - web.mit.edu/ptemin/www Related Stories:
Expert: Cayuga worth $1.7B (Tribal Law 8/15)
Group says land claim frivolous (Tribal Law 08/10)
State witness defends views (Tribal Law 08/04)
New York State testimony continues (Tribal Law 8/3)
State testimony begins in Cayuga case (Tribal Law 8/2)
Cayuga Nation testimony ends (Tribal Law 8/1)
State questioned in Cayuga land deals (Tribal Law 07/26)
Did feds bribe the Cayuga Nation? (Tribal Law 7/20)
Cayuga claim may be worth billion (Tribal Law 7/19)
Expert says Cayuga treated unfairly (Tribal Law 7/18)
Witness allowed to testify against Cayuga (Tribal Law 07/12)
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