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Visit jhawkins Tx's column >>

JHAWKINS TX

Articles Posted: 9  Links Seeded: 26
Member Since: 3/2009  Last Seen: 5/21/2011

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An Open Question To The People Of New York........

Sun Apr 5, 2009 5:24 PM EDT
business, new-york, taxes, aig, financial-services, anger, executive-pay
By jhawkins Tx
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I have visited New York City many times both for business and most recently for a long weekend vacation. The people are great, exciting, and I love the energy. There is one thing that has always puzzled me........

While visiting there, no matter where I went, and who I talk too...everyone hates the financial companies that reside there. From street vendors, to the hostess at the NBC studio tours, to the average joe I struck up a conversation with on the ferry.......everyone despises the financial industry and the people who work there....... and its not just a passive dislike...... Every New Yorker I met railed on with passion about how evil these folks are......... (this was before the financial crisis)

I have never understood why people despise the very industry and people that subsidize just about every aspect of their lives.......The businesses that could arguably be seen as the reason for the city's prominence on the world stage and a significant contributor to both the city's and state's revenue are constantly berated by just about everyone that benefits from their existance.

It's like visiting Houston and having everyone talk about how much they hate the oil industry.......or San Francisco street vendors openly telling tourists how much they hate the tech industry........It doesn't happen............Its wacky..........The companies who pay the astronomically high tax rates just to have the NYC address and access to the employee base.....you vilify and damn for their success.......the very same success that pays for the majority of the social services you enjoy, pays for the schools, the roads, who subsidize your arts, and is the source for your convention business.......

Of every "greedy" dollar they make the Federal government gets 35% of to spend as they like via the corporate income tax, and every $50 Million exec dollar bonus get taxed as well, and then New York gets their (now 10%) share ......These companies and employees are your partners in life...... When they are successful you get more money for your social services, the homeless, food banks, etc....... the same services that the people damning them rely on........

For 20 years I have wondered what would happen if all the companies got fed up with the attitude and taxes and just left....... I guess via the budget issues we are seeing associated with this economic downturn, New Yorkers are finding out how much they really rely on the success of the very same people you complain about all the time......

Someone please explain the reason for the attitude other than pure jealousy.......

If you can't please tell your financial companies we would love to have them move to our state.....we have no state income tax, we are business friendly and appreciate the benefits companies provide to us for being located in our state.......

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  • Public Discussion (3)
George Myers-150923

I'm not sure, maybe it's suspicion. I worked for the environmental division of a Texas based power plant designer in the upper floors of a World Trade tower and surveyed Fort Drum, NY for the relocation of the US Army's 10th Mountain Division way back in 1983 when A-10s were using it for target practice. After 9/11 I read, across the street from where I once worked (since demolished on Trinity Place) that the power plant designer had threatened to leave and former Mayor Koch gave them rent free for three years floors 79 to the top of one of the WTC towers, according to a sad secretary's report the day after the tragedy here on-line. They left though way before 9/11/01, for New Jersey, at least that division I and my significant other worked for, that evaluated the permanent cantonment of 7000 where there had been some iron foundries and cheese factories, about 10,000 people moved off after WWII, for live-fire exercises, NY National Guard activities and US Army winter training.

My point might be that it seems perhaps in the past that often some sort of trade is made over staying in NYC by large firms with elected officials, many we might not have voted for on our 1960s voting machines. Why should they get big tax breaks, apparently free rent and what anywhere else would look like "personal" favors from civil servants. Maybe that's why, they're subject sometimes to ridicule, along with the politicians, lumped together. Wall Street moving to New Jersey? You're going to hear from people about it.

  • 1 vote
Reply#1 - Mon Apr 6, 2009 6:02 PM EDT
jhawkins Tx

George Myers-150923:

Thanks, I appreciate the feedback. I guess the trade offs with tax abatemen occur eveywhere. About 15 years ago Compaq (about 5 miles from my home) threated to leave Houston..... they were given huge property tax abatements, a new freeway was built to more easily access their campus..... all to keep 12K jobs in North Houston. Those 12K jobs supported countless other local vendors.......I can imagine though the tradeoffs when the majority of the work force at those company does not live near their work. The benefit of the tax abatements would not be readily apparent.

    #1.1 - Fri Apr 10, 2009 2:19 PM EDT
    Reply
    George Myers-150923

    To clarify: archaeological survey. I am not a licensed surveyor but was part of a crew of three women and three men in a Ford Bronco digging screened shovel-test units at predetermined intervals on a in-field located grid in various places to create a small sampling of the various areas of the 110,000 acres or so at Fort Drum, NY just east of Watertown, NY for archaeological resource management in the then future occupation of the facility. It was work reviewed by federal agencies and incorporated into a management plan. Out of it I heard came a five-year plan for archaeology conducted by other firms. Recently at Fort Drum a "pseudo" Iraq with archaeology sites were created to train troops to recognize their cultural resources when engaged there after misdirected occupation in "ancient" Babylon by the US Marine Corps caused damages to what we might consider civilization's heritage located on the "Fertile Crescent" between the Tigris and Euphrates rivers.

      Reply#2 - Wed Apr 8, 2009 10:59 AM EDT
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