Dennis in MA
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- Feb 12, 2007
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The politicians in MA will be elated that they’re moving! It’s like the idiot woke companies that divest from “evil” industries and their investors end up taking the hit.
I never got that. I have a woke client who had a pile of SJW funds. "Why do you own those funds?" "I don't want those companies getting my money." Then I explained how the stock market worked. And how she was shooting herself in the foot. "Oh."
Yeah. Let's close everything.They are keeping their mass location open, so it isn't a total win.
????
A couple of thoughts:
1. I'd say they are moving corporate office for tax purposes. The tax rate in TN is 6.5%. Versus 8% here. It's not much, but it's something. An extra 1.5% on your profits?
2. I remember when Balfour and Jostens left. . . . 30 or so years ago. 35? That was a cluster-bleep. They didn't do a great job of setting up Down South and all sorts of issues came up in QC for them. They pissed of a bunch of people for a little while. Then got it under control. Seems like today companies learned from that and open a satellite operation in another state then slowly move manufacturing there. Expect the same thing in this situation. In 10 years, it'll be a museum and MAYBE a shooting range. Maybe.