US Economy thread

[Herman Cain]

goose-

   thank you for the clarity!  knowing you and how you've done business in that part of the globe, I completely respect your point of view. 

   correct me if i'm wrong however-regardless of whatever deal was struck with foxconn, my understanding is foxconn got the land and infrastructure to locate on BUT would not realize any thing unless they met certain hiring criteria...which they did not

  yes, wisconsin was sitting on a big piece of land all set up for business, great access to the freeway and proximity to milwaukee, madison and chicago

  tell me what's wrong with that except the fact that they do not have the tenant they expected?   now a company such as microsoft comes along and goes-hey, the table is set here

maybe not the way many wanted it to be, but the investment in infrastructure will pay off

hell if it's money they could've used elsewhere?  this state should be in pretty good shape if they can afford to keep a few billion tax payer dollars in the bank rather than giving it back to those of us who over paid

Rocket :
You are correct the investment in infrastructure is sound.

In large scale real estate developments, which is essentially what this was, often times it's the second or even third owner who makes out best .

I take out the noise from politics . What Wisconsin did was create the foundation to compete on a National/Global level for projects . If it took a Foxconn to get the ball rolling  in at The State level so be it . No harm no foul.

[Hards Alumni]

Rocket :
You are correct the investment in infrastructure is sound.

In large scale real estate developments, which is essentially what this was, often times it's the second or even third owner who makes out best .

I take out the noise from politics . What Wisconsin did was create the foundation to compete on a National/Global level for projects . If it took a Foxconn to get the ball rolling  in at The State level so be it . No harm no foul.

Pretty brain dead take here.

[Pakuni]

Rocket :
You are correct the investment in infrastructure is sound.

In large scale real estate developments, which is essentially what this was, often times it's the second or even third owner who makes out best .

I take out the noise from politics . What Wisconsin did was create the foundation to compete on a National/Global level for projects . If it took a Foxconn to get the ball rolling  in at The State level so be it . No harm no foul.

Wisconsin taxpayers have paid more than $1 billion to create an infrastructure for which, they were promised, would bring them at least 13,000 permanent jobs.
Instead, they're getting a couple thousand temporary construction jobs and about 2,000 permanent gigs. The economic benefits of those jobs will never come close to matching the taxpayers' investment.
The people of Wisconsin were ripped off.

[Uncle Rico]

Rocket :
You are correct the investment in infrastructure is sound.

In large scale real estate developments, which is essentially what this was, often times it's the second or even third owner who makes out best .

I take out the noise from politics . What Wisconsin did was create the foundation to compete on a National/Global level for projects . If it took a Foxconn to get the ball rolling  in at The State level so be it . No harm no foul.

Good lord, you're an idiot

[The Sultan]

Rocket :
You are correct the investment in infrastructure is sound.

In large scale real estate developments, which is essentially what this was, often times it's the second or even third owner who makes out best .

I take out the noise from politics . What Wisconsin did was create the foundation to compete on a National/Global level for projects . If it took a Foxconn to get the ball rolling  in at The State level so be it . No harm no foul.

There has been harm.

And Wisconsin was getting increasingly better for business long before Foxconn.

[MU82]

Rocket :
You are correct the investment in infrastructure is sound.

In large scale real estate developments, which is essentially what this was, often times it's the second or even third owner who makes out best .

I take out the noise from politics . What Wisconsin did was create the foundation to compete on a National/Global level for projects . If it took a Foxconn to get the ball rolling  in at The State level so be it . No harm no foul.

Absurd. Had Foxconn been brokered by Evers/Biden and had the exact results that happened happened, you'd be rising from the dead to proclaim it an excellent failure that hurt Wisconsin excellently, and the dentists would be waxing poetic about ice cream and diapers.

[rocky_warrior]

Back to the Disney economy.

Conveniently, I'm (stuck ) in the Orlando airport for a few hours today.   I can't speak the the stress level of these travelers, but the Mickey machine seems to be operating fine

[Hards Alumni]

Back to the Disney economy.

Conveniently, I'm (stuck ) in the Orlando airport for a few hours today.   I can't speak the the stress level of these travelers, but the Mickey machine seems to be operating fine

I think their parks are the most profitable, but they've been gouging their fanatics for years at the park.  There is bound to be some burnout with them soon, not to mention that Universal has a new park in Orlando opening up next year.  That will bite into them quite a bit.

[Uncle Rico]

I think their parks are the most profitable, but they've been gouging their fanatics for years at the park.  There is bound to be some burnout with them soon, not to mention that Universal has a new park in Orlando opening up next year.  That will bite into them quite a bit.

We will finally have our revenge on the woke policies of Disney

[Herman Cain]

Absurd. Had Foxconn been brokered by Evers/Biden and had the exact results that happened happened, you'd be rising from the dead to proclaim it an excellent failure that hurt Wisconsin excellently, and the dentists would be waxing poetic about ice cream and diapers.

If one looks at the headlines and they all refer to a failed Foxconn project. Last I looked , Foxconn is the largest taxpayer in Racine County and employs over 1,000 and has spent close to a $1 Billion . So yes , while the scope of Foxconn project has gone down, it is still meaningful. Also , every sensible person at the time commented ( especially on Scoop where I get most of my news)that it was unlikely that the full scope of Foxconns project would ever be realized and that is was mostly hype.

Now Microsoft is coming in with a very large project. Which is diversification.

It takes time for all these developments to pay off.

Has made our corporation  think that maybe Southeast Wisconsin is possibly worth investing in. Talent pool we  would need would be available. I am confident there are, secondary type employers others who might be willing to give Wisconsin a second chance.

[MU82]

Foxconn made a bunch of promises, kept none of them, and still took big incentives from the state.

The state also made millions of dollars in infrastructure improvements to land the project; it's not a bottomless well - the state could have used that money for desperately needed projects elsewhere. Additionally, Foxconn was allowed to clear land by pushing people out of their homes, and the state diverted water from Lake Michigan to support the factory.

For years, Foxconn continued lying about the scope of the project until it became obvious that it was mostly a Foxconn Con.

It was government choosing winners ... and this particular winner turned out to be a loser for the state - not "the eighth wonder of the world" about which the charlatan running the White House bloviated.

[Goose]

rocky


Thanks for the Disney update. Hope you are delayed several days and can check out the parks.

[rocket surgeon]

Pretty brain dead take here.

coming from you guys who've never owned a business, i'll take this as a win

Herman is one of the few here who understands what has happened.  it may not have been planned this way, but good things will continue to come of it. 

[Uncle Rico]

coming from you guys who've never owned a business, i'll take this as a win

Herman is one of the few here who understands what has happened.  it may not have been planned this way, but good things will continue to come of it.

No he's not.  He's an idiot.  Maybe a bigger idiot than you

[MU82]

The Walt Disney Co. reported Q2 financials on May 7. The company's Experiences segment had revenue of about $8.4 billion in the quarter - 10% growth year-over-year. The segment had earnings of about $2.3 billion - 12% growth year-over-year. Margin expansion for the segment improved 60 basis points vs. the prior year. As part of its presentation, the company said: "We continue to expect robust operating income growth at Experiences for the full year."

The Experiences segment includes all the Disney parks, as well as its cruise line.

It's doing quite well.

[Hards Alumni]

coming from you guys who've never owned a business, i'll take this as a win

Herman is one of the few here who understands what has happened.  it may not have been planned this way, but good things will continue to come of it.

I think you've forgotten something.

[Goose]

82

Do you know the driving factor on the revenue growth? Was it due to 10% more visitors or higher prices? I am seriously asking because it is hard not to have higher revenues is prices are up 10% or more.

This is not a gotcha question, too lazy to look and thought you would know.

[Uncle Rico]

I think you've forgotten something.

It's such a rousing success and is being developed like planned by Governor DeWalker and Boss Vos, both were present this week to partake in the announcement by the current governor and President.

Republicans are running on its success this fall across the region.

[Herman Cain]

Here is the actual Microsoft Press Release. This is an outstanding development for the State of Wisconsin.

https://news.microsoft.com/2024/05/08/microsoft-announces-3-3-billion-investment-in-wisconsin-to-spur-artificial-intelligence-innovation-and-economic-growth/

[Pakuni]

Here is the actual Microsoft Press Release. This is an outstanding development for the State of Wisconsin.

https://news.microsoft.com/2024/05/08/microsoft-announces-3-3-billion-investment-in-wisconsin-to-spur-artificial-intelligence-innovation-and-economic-growth/

No better analysis than a press release.
Data centers are warehouses with fewer trucks and workers.

[Not all scoop users are created equal apparently]

I think you've forgotten something.

I've never been given a pre-established business either

[rocket surgeon]

Here is the actual Microsoft Press Release. This is an outstanding development for the State of Wisconsin.

https://news.microsoft.com/2024/05/08/microsoft-announces-3-3-billion-investment-in-wisconsin-to-spur-artificial-intelligence-innovation-and-economic-growth/

I get this herman-microsoft wouldn't have given us a sniff without that business park laid out

[rocket surgeon]

I've never been given a pre-established business either

what?  so you could just run it into the ground? 

[Herman Cain]

No better analysis than a press release.
Data centers are warehouses with fewer trucks and workers.

There is lots of training and skills development here, not to mention sustainable energy to power the whole complex. This is a huge win for The State.

It shows the power of being in a battle ground state. First the infrastructure and now someone extremely legitimate comes in.

It is a competitive market. We had multiple states bidding on a project we had that was relatively small in the greater scheme of things( 200,000 square feet and about 150 jobs when fully up and running).   

[The Sultan]

There is lots of training and skills development here, not to mention sustainable energy to power the whole complex. This is a huge win for The State.

It shows the power of being in a battle ground state. First the infrastructure and now someone extremely legitimate comes in.

It is a competitive market. We had multiple states bidding on a project we had that was relatively small in the greater scheme of things( 200,000 square feet and about 150 jobs when fully up and running).   

I mean yeah. It's better that it's here than elsewhere.

But that's a lot different than saying this makes the Foxconn nonsense with the cost.