Posted on 06/01/2024 8:38:21 AM PDT by Reno89519
Prominent business executives have warned that more New York enterprises and their leaders may fall victim to "no rule of law" in the wake of Donald Trump’s guilty verdict.
"If they can do this to a business person like Donald Trump, they could do it to anybody in New York and a lot of businesses. A lot of people are concerned that there is no rule of law," billionaire CEO John Catsimatidis said Friday on "Mornings with Maria."
...
Cardone recently pulled his business out of the Empire State and cautioned that Trump’s legal troubles — including a previous $355 million fine in a New York civil fraud case in February — would "wreak financial havoc" on the city.
"I have 15,000 investors with me at Cardone Capital. We've raised $1.3 billion. If I went to them today and said, ‘I want to invest in New York City,’ they would not give me money to do that," the investor argued.
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(Excerpt) Read more at foxbusiness.com ...
Maybe in November they can throw out the trash, beginning with AOC. Bragg and James have two more years.
If I owned/ran a business with offices in NYC, I’d shut them down and relocate them to somewhere with a better environment.
And I’d be reluctant to move the employees...
Good point, leave the New York workers in New York.
AOC is safe, the district is a lost world. I recall a district in my state had a rat rep who was the rep forever (dingell) . His health finally faltered so they put up his wife to replace him. I think most of the clueless idiots in his district didn’t even know they were voting for a different Dingell. This is what you have in AOC’s district
We will not go to NYC.
We will not go to NYC.
NY won’t get one dime from me.
"And I’d be reluctant to move the employees..."
That sir, may be the most important thing!
The same situation was probably true for the competition, but nobody ever raised the rates there to cover the local losses. Sort of what nation-wide companies are doing with the regulations in California.
Add to your list New York City’s insane drive to regulate every last thing. One example of that is the city’s new rules for pizza ovens.
Crime in the subways, no big deal. Old pizza ovens, a very big deal.
https://abc7ny.com/nyc-pizzerias-emission-control-system-smoke-pollutants/14515488/
I was thinking about this yesterday.
The whole structure of American prosperity is built on private investment, and no one will invest their private capital if they have no confidence that public institutions of law will protect those investments.
What the Bragg/Engoron matter shows is that private capital won’t necessarily be protected; that the legal system can be turned against individuals based on politics.
This undercuts and cheapens our whole system of wealth generation, the means by which good and useful ideas find the capital to scale them up to the level of population benefits widely distributed across all of humanity.
Who would want to risk their wealth in such a situation? No one with any brains. Only the politically connected, and people of that class rarely have an idea that benefits anyone but themselves and their friends and family.
Yes, it is pretty bad when New Yorkers have to go to New Haven orJersey for a decent apizza.
A Trump administration should prosecute Democrats for corruption, but should not in my opinion turn the Democrats’ lawfare tactics against them. Instead Trump and a Republican Congress should punish blue cities economically. There is a banking crisis looming and when it hits, there should be no bailout for NY banks. Instead the regional banks should be recapitalized. To punish DC, whole departments such as Education should be closed. Other departments should be moved to remote rural locations in blue states, such as upstate NY, the Canadian border in MN, rural IL and Death Valley CA. In that way the bureaucrats won’t be able to turn the red states purple.
Sad to say but I don’t believe NY city is even worth saving now. The corruption, the migrants, the hatred for Republicans, the filth, the politics, the unions - hey, I was a member of the flight attendant’s union but what I saw happen when we flew there was off the charts.
There was a time when being located in financial capitals like NYC, Chicago, London, Paris, etc made good sense. In some industries it was virtually essential - but those days are long gone.
Everything is online and virtual, including and especially finance. I read the other day that if all the empty commercial real estate in Chicago was combined it would fill over a dozen Willis Towers. Prices have dropped by as much as 50% and the Valedictorian Mayor has decided to drop a bunch of money on developers to convert some of them to apartments. Now all they need is the jobs and body armor to convince people to live in them.
Fear is the great motivator, does not matter if correct, just that it is the perception reality.
Catsimatidis has his fingers in a lot of pies, but he runs a fairly large chain of supermarkets NY. He can talk, but he’s not going anywhere. Maybe he can sell them to Kroger or something like Duane Reade did when they sold to Walgreens.
I used to eat at Kenny Rogers. Pile of firewood out back. All their cooking was in GAS ovens. After a few years the wood pile rotted away.
New York was over when the pussies let the filthy little puke Bloomberg ban smoking and anything else the control freak could think of.
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