Dear Village Board and City of Racine Alderpersons, UWM Economics Professor Menzie Chinn notes: "Scott Walker Is a Rube" From NYT, “Foxconn Is Reconsidering Plan for Wisconsin Factory“: Link: https://www.nytimes.com/2019/01/30/business/foxconn-factory-wisconsin.html Foxconn, the giant Taiwan-based company that announced plans for a $10 billion display-making factory in Wisconsin, now says it is rethinking the project’s focus because of “new realities” in the global marketplace. Clearly, neither the explicit subsidies and tax expenditures, nor the relaxations of environmental regulations, were sufficiently large to ensure the Foxconn investment. Discussion in my 2017 post. See a broader recap of such incentives in a guest contribution by Professor Ann Markusen. A CROWE economic analysis contingent on implementation as planned, here. It is possible that Foxconn will reverse its recent decision, and move back to planning for a massive production facility. However, with global growth slowing and US labor costs relatively high, I don’t see this happening in the near future. Link: http://econbrowser.com/archives/2019/01/scott-walker-is-a-rube Be sure to read it all - including the comment section, and follow the links. Foxconn admits that manufacturing costs for labor are too high in SE WI to be profitable in a Global Economy. Does MTP Village President David "Sewer Monster" DooFus, er... DeGroot, have anything to say about that? Maybe Village Staff and Employees will need to begin experiencing severe cuts to their wages and benefits to bring them better in line with Third World Countries, H-1B's, and emerging industrialized countries such as China and India. I suggest that MTP could begin by paying questionably competent Village Clerk Stephanie Kohlhagen $2.50 per day and requiring her to work 12 hour shifts - 6 days a week. Hurrah! for Equality and all that other stuff! Now she qualifies to be a Foxconn Employee! No more MTP Village overpaid, overcompensated, and incompetent staff! And MTP Village President David DeGoofus can finally lower taxes - as he so promised due to his being a Tea-Tard. A potential bright spot - as Amazon seems to have lost it's taste for New York - why not MTP, WI. The infrastructure is ready to go! The Taxpayers are on the hook - and the timing is perfect..... "A Devastating Loss" - NYC Real Estate Stunned After Amazon Threat To Leave Our initial reaction when we saw the headline in the Washington Post this morning about Amazon reconsidering its move to Queens was that all the real estate speculators who had scrambled to buy up nearby property (or shares in NYC-based REITs) would experience a dizzying surge of anxiety. And as it turns out, in offices across NYC, hundreds of real estate brokers were thinking the exact same thing. Late on Friday, reporters for Bloomberg canvassed established brokers with most of the big houses across the city, and their responses ranged from shock, to amusement, indignation, and disbelief. Bill Montana, a senior managing director at Savills, exclaimed that Amazon would be "exceedingly foolish" to scrap its plans to move to the Big Apple. Bill Montana was schmoozing with real estate brokers Thursday at an industry event in New York, talking about the biggest deal in years: Amazon.com Inc.’s decision to build a major campus in Queens. By the next morning the euphoria had evaporated. Reports the tech giant was reconsidering its plans amid a fierce public backlash sent a jolt through the real estate community that was pinning their hopes on a significant pickup in activity. "You gotta be kidding me!" Montana, a senior managing director at brokerage Savills Studley, said when reached by phone Friday. "Amazon would be exceedingly foolish to actually pull out of this deal." Continuing with that theme, a broker at Colliers said scrapping the move to Queens would hurt Amazon as much as - if not more than - the city itself. "It would be somewhere between a terrible shame and a devastating loss," said Michael Cohen, tri-state region president at brokerage Colliers International Group Inc. "It’s not the end of the world, but it’s a self-inflicted wound that will possibly send the signal to others that might have wanted to follow in Amazon’s footsteps." Savanna, the owner of Citigroup's Long Island City office, affirmed that Amazon had signed a letter of intent to move about some employees into the Citigroup building at 1 Court Square. Citi is already preparing to move 1,100 employees out of the building. Both parties would undoubtedly be less-than-pleased if Amazon backed out of the agreement. Brokers who have been in the process of negotiating sales are probably also pissed about possibly losing out on some fat commissions, as even the whiff of a possible Amazon pullout could send would-be buyers - some of whom were planning to pay premiums as high as 20% over recent prices - immediately fleeing. Link: https://www.zerohedge.com/news/2019-02-08/nyc-real-estate-brokers-express-frustration-shock-disbelief-after-reports-amazon If Foxconn refuses to provide 13,000 jobs paying $53,000 per year - then bring Amazon here. That's better than Plan "B" - aka Bankruptcy. No doubt, MAGA President Donald Trump can assist MTP Village President David DeGoof in bringing Amazon to MTP - to fill the empty spaces created by the failure of the Foxconn miracle to materialize. Good luck to all - and Happy 2019! Surely, Residents can't wait to see their 'NEW" and "IMPROVED" lowered tax bill due to all of the revenue generated from the BILLIONS of $$$$ invested in the Fox-Scam Fiasco.
====================================================== City of Racine can now *FIRE* 3 unnecessary positions from the 5 currently ensconced in the Mayor's Office - begin wage and compensation decreases - to better match that of 3rd World Nations and emerging economies, and.... *FIRE* City Attorney Scott Letteney and his entire staff. *FIRE* City Administrator Nick Palenick. *RESIGN* Cory! *FREE* Sandy! Sincerely, Tim & Cindy