The context in which this issue came up was Chris' question as to whether a state (Colorado?) could acquire a company and/or its assets ---A railroad and its locomotives, I presume.
I wrote that Eminent Domain was mainly exercised reagarding to land and buildings, which are not movable.
That comes, I believe, from the historical meaning of the term "domain". A look at the previous posts in this thread pretty much backs up this land idea.
A government that wants to get its hands on, say, a Shay will usually want do so under the auspices of a different legal theory. (This might require special legislation---- the Shay Grabber Act? Just kidding)
On the other hand, if a local concern illegally performed such a confiscation, the powers that be might be mighty slow to get involved. I am thinking of how Dick Jensen lost his Grand Trunk Pacific ages ago....but that's another story.
TL