Posted on 11/03/2005 10:28:11 PM PST by demsux
There are a lot of candidates for biggest misuse of tax-increment financing. Enter a new contender: the pending approval of a TIF to build a Wal-Mart Supercenter and a Lowe's in Belleville.
It's bad enough that the world's largest retailer argues that it needs a tax break or it won't build. It's worse when a city, now dependent on Wal-Mart's sales taxes, feels that it can't turn down the request.
(Excerpt) Read more at stltoday.com ...
BTW, THF, the developer in this article is none other than Stan Kroenke, Wal-Mart family member, board member and PREFERRED developer for Wal-Mart.
BTW, Hillary was a member of the BOD of Wal-Mart, just for your information.
Are you talking about MLB or Walmart ?
Here a city sees sales tax generated by walmart. It would be nice to see the sales taxes lost by small businesses closing down due to walmart and the lost real estate taxes, payroll taxes, etc. lost when these businesses shut down.
That said, I do like Walmart roast chicken.
I love Wal-Mart because the liberals hate it.
Someday I hope Wal-Mart sponsors a Rollerball team.
Wal-Mart is nothing compared to a stadium or a highrise complex that will cost taxpayers hundreds of millions for little to nothing in return
Sounds like he's talking about the Jacksonville Jaguars...
WalMart , helping to build communities.................Or rip them apart.
Its your choice.
Possibly both. Building the community they are in, and ripping apart neighboring communities by destroying the local merchants there.
Depends if you include the cost of medicaid and/or other welfare for walmart workers.
The Wal-Mart is already there. They want to anchor a shopping center with a Super Walmart and a Lowe's.
But, yes, the original Wal-Mart will be closed.
Additionally, someone also mentioned that Stan Kroenke of Columbia Mo was the preferred builder of Wal Marts. I can tell you that he and his "boys" aren't too smart. After building a Super Wal Mart in my hometown, they realized that they had forgotten to put in a 1 acre retention pond and were out of land. Friends of mine owned two acres adjacent to the Wal Mart site that were "land locked" by the Wal Mart parking lot. Wal Mart approached them for a deal and were told the 2 acres were priced at about $200K. So Wal Mart asked how much for one acre, answer was $200K. Since no one else had, or was willing to part with an acre to Wal Mart, they ended up buying my friends' land for the original price
Just for your information, when Hillary was on the Wal-Mart board her "husband" was governor of Arkansas. It was a political appointment only to help the Clintons pay their bills. She had no input in the everyday operation of Wal-Mart, none. I doubt she even showed up for many of the meetings. She was too busy planning her "husband's" future.
E Stanley Kroenke , 55 , self made
Source: real estate
Net Worth: $1.4 bil up
Home State: Missouri
Marital Status: married , 2 children
University of Missouri, Bachelor of Arts / Science
University of Missouri, Masters of Business Administration
Husband and wife. Ann's father Bud Walton (d. 1995) went in with his brother Sam on Wal-Mart. His stake now divided between Ann and sister Nancy Laurie. Stan: real estate developer, including many shopping centers anchored around Wal-Marts, also 560,000 acres of ranch land. Stan owns stake in NFL's St. Louis Rams, all of NBA's Denver Nuggets and Colorado Avalanche.
As Chairman of THF Realty, Stan Kroenke leads a company that is a national investor, developer and owner of commercial real estate. THF is a developer and owner of numerous shopping centers, office buildings and industrial projects around the country.
He serves as a member of the board of directors of Central Bancompany, Jefferson City, Missouri; Boone County National Bank, Columbia, Missouri; and Community Investment Partnership Funds I and II, St. Louis, Missouri. He is a trustee of the College of the Ozarks in Point Lookout, Missouri. He also serves on the boards of the Greater St. Louis Area Council Boy Scouts of America and the St. Louis Art Museum.
Any idea who owns the stock of these national threats and where the dividends are going?
Look at your 401k and IRA's
I definitely agree with this, BUT, you don't give tax breaks to walmart that other stores get and you don't raise taxes on other businesses to build roads, sewers, etc. for walmart. And that is what this article is about.
That's the same line the populist retards were using back in the 1920s, when it looked like Sears and the oil companies were "runnin da cuntry."
1. The overwhelming majority of people in the US are employed by small businesses.
2. Every Wal Mart I have seen attracts new development, leading to more small businesses in the area.
I thought that this "bash capitalism" BS was left for DU.
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