ALBUQUERQUE, N.M. (AP) - Pegasus Global Holding's surprise announcement that it is pulling out of plans to build a $1 billion scientific ghost town in eastern New Mexico is stirring skepticism of the private firm's grandiose plans.
Lea County manager Mike Gallagher says when officials "started pressing for details ... they decided to look elsewhere."
Hobbs Mayor Sam Cobb said he didn't even know the group was abandoning its plans until he read a news report.
Pegasus officials have declined interview requests, but say their change in plans stemmed from complications with their land purchase. They insist they are looking for a new site in New Mexico for the one-of-a-kind research center.
But as state land office general counsel Harry Relkin says, "It is such a wild - or if you want to be positive - innovative idea, I can understand the skepticism."