The Great Copper Heist

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The Great Copper Heist

Postby HPMBTT » Wed Dec 01, 2010 1:50 am

Think you have a copper addiction by accumulating a few copper penny boxes? Nope....you're not even close. Here's an absolutely fascinating (6 page) article on the huge country-wide copper theft problem. Most of the article focuses on the theft problems in Dallas and the various scrapyards and would-be thieves that bring in pounds of the stuff (one guy had 400 pounds). It's a well told story. I didn't realize just how big a problem it really is! It makes sense, though, since the metal is now around $4/pound (it was only around $1/pound in 2001).

http://www.businessweek.com/magazine/co ... 273601.htm
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Re: The Great Copper Heist

Postby 97guns » Wed Dec 01, 2010 10:52 am

i bought 4 foreclosed homes in 2008 and the screens were missing on all the windows. i didnt think nothing of it untill one of the neighbors told me that they're stolen for aluminum scrap. there was no copper missing anywhere though, i guess the thieves didn't want to break and enter.
Retired in 2009 with 300K in net worth by going all in with cash flowing real estate. every disposable penny goes back into savings via PM's - by using this technique my net worth has nearly doubled up.

ABCD investing - ANYTHING BERNANKE CAN'T DESTROY
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Re: The Great Copper Heist

Postby billo » Wed Dec 01, 2010 8:44 pm

Also shows police tactics, end justifies the means they believe.
Nickel and (silver) dime me.
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Re: The Great Copper Heist

Postby pennypicker » Wed Dec 01, 2010 10:45 pm

I live in the desert outside of San Bernardino, Ca. and we have empty, foreclosed houses everywhere! Thieves are routinely breaking into these homes and cutting out the copper pipes from inside the walls and doing thousands of $'s in damage to each house in the process.
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