It’s hard to think of a California company that carries more toxic baggage than Cadiz Inc. The Los Angeles firm has been trying for more than 20 years to advance a plan to siphon water from under the Mojave Desert and pump it to users throughout Southern California. It has long been stymied by environmental objections, but kept on life support by wielding political influence and regular financings such as private stock placements and junk bond-rated debt. Now Cadiz is trying a new tack. Under its newly installed chief executive, the veteran government aide Susan Kennedy, it has affiliated itself with the so-called human right to water movement, which ties the inaccessibility of clean water for disadvantaged communities to other social justice quests such as developing more affordable housing.
-Written by Los Angeles Times business columnist Michael Hiltzik.