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Author Topic: How Amazon is goingto destroy itself.  (Read 16960 times)

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Geek-9pm

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How Amazon is goingto destroy itself.
« on: February 17, 2019, 07:31:46 PM »
This in 'off topic' because I don't have a concise news article that spells it out.
Basically, Amazon's damaged relationship with New Yuk City is going to cost Amazon customers. Here is one link that gives you some idea of what wen wrong:

Amazon’s HQ2 deal with New York, explained.
Quote
Amazon’s HQ2 search is officially over: The company confirmed via a blog post that Long Island City and Crystal City, a neighborhood in Arlington, Virginia, were the locations chosen for its new, split-up headquarters.
After the decision was made public, Mayor Bill de Blasio and Gov. Andrew Cuomo gathered with other city and state officials to gleefully announce that they had sealed the deal, which includes just shy of $3 billion in subsidies.
Hold the press... there is mere!
Quote
Update: On February 14, Amazon reportedly canceled its HQ2 deal with New York City.

Instead of making good PR, Amazon blew it. If this makes enough customers angry, Amazon may lose the position they have had until now.

What do you think? Do you even care?   :-\

BC_Programmer


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Re: How Amazon is goingto destroy itself.
« Reply #1 on: February 17, 2019, 07:37:25 PM »
What aspect of this would either anger or cost Amazon customers?
I was trying to dereference Null Pointers before it was cool.

Geek-9pm

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Re: How Amazon is goingto destroy itself.
« Reply #2 on: February 17, 2019, 09:26:43 PM »
In private meetings Amazon asked for and got support in the form of a very big subsidy from city funds.
When this became public, a protest was made by some. After that Amazon canceled the deal. To many people it looks like Amazon was asking the City to just give Amazon some money to stay in the city and not open the second HQ elsewhere.

In the next few days expect to hear more of this. Unless something else gets the attention of the media. Amazon has both its critics and its fans.

This article seems to explain why some New Yonkers are angry:
Gone in a New York minute: How the Amazon deal with NYC fell apart. (AP)
Quote
Then Amazon made it official: It chose the Long Island City neighborhood of Queens to build a $2.5 billion campus that could house 25,000 workers, in addition to new offices planned for northern Virginia. Cuomo and New York Mayor Bill de Blasio, Democrats who have been political adversaries for years, trumpeted the decision as a major coup after edging out more than 230 other proposals.
But what they didn’t expect was the protests, the hostile public hearings and the disparaging tweets that would come in the next three months, eventually leading to Amazon’s dramatic Valentine’s Day breakup with New York.
For more detail read the whole article.  :)

patio

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Re: How Amazon is goingto destroy itself.
« Reply #3 on: February 18, 2019, 08:58:39 AM »
Geek you should do your research...a bunch of Leftist politicians made Amazon uncomfortable with the Queens location...even considering the tax breaks.

So they walked away from the deal.
" Anyone who goes to a psychiatrist should have his head examined. "

Term_ite



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    Re: How Amazon is goingto destroy itself.
    « Reply #4 on: February 18, 2019, 09:48:43 AM »
    Amazon isn't going away any time soon and Jeff Bezos isn't losing sleep over the NYC debacle. Right now AMZN shares are around $1600.00 CAD. It has a market cap of $789.8 Billion (the B isn't a typo). It recently went over the $1 Trillion mark when shares were north of $2000.00 Bezos owns 78.88 million shares as of his last SEC filing. The next largest shareholder is Andrew Jassy ( a measly 91,231 shares). Amazon shoppers could care less about NYC. They're just looking for the best deal & the easiest shopping experience. The sleep Bezos is losing is when he thinks about how much he's going to have to pay his wife in their divorce.

    Salmon Trout

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    Re: How Amazon is goingto destroy itself.
    « Reply #5 on: February 19, 2019, 11:43:46 AM »
    I'm with Alexandria Ocasio-Cortez, who says “Today was the day a group of dedicated, everyday New Yorkers and their neighbors defeated Amazon’s corporate greed, its worker exploitation and the power of the richest man in the world”. If that's "Leftist", then I am a Leftist. Bezos, Cuomo and de Blasio blew the Amazon deal. I wish we had even one politician like her in my country.

    Salmon Trout

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    Re: How Amazon is goingto destroy itself.
    « Reply #6 on: February 19, 2019, 11:45:52 AM »

    patio

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    Re: How Amazon is goingto destroy itself.
    « Reply #7 on: February 19, 2019, 12:57:41 PM »
    You can have her anyday...the sooner the better...Just sayin.
    " Anyone who goes to a psychiatrist should have his head examined. "

    Salmon Trout

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    Re: How Amazon is goingto destroy itself.
    « Reply #8 on: February 19, 2019, 01:05:10 PM »
    Never had you down as that type, Patio. Just saying.

    Salmon Trout

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    Re: How Amazon is goingto destroy itself.
    « Reply #9 on: February 19, 2019, 01:24:19 PM »
    I think I should avoid discussing politics, because I nearly deleted my account just then.

    patio

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    Re: How Amazon is goingto destroy itself.
    « Reply #10 on: February 19, 2019, 03:11:47 PM »
    All i'm sayin is she is an extremist...look it up.
    She's totally happy with an 80% tax rate on anyone makin over a million a year...

    Agree or not that kinda scares me.
    " Anyone who goes to a psychiatrist should have his head examined. "

    Salmon Trout

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    Re: How Amazon is goingto destroy itself.
    « Reply #11 on: February 19, 2019, 03:58:52 PM »
    Would it be a blanket 80% on all income? Or 80% in the income over $1M?  In my country (UK) you pay tax at zero % on income up to $15,000, then at 20% on the amount between $15K and $60K, then 40% on anything over $60K, and a special "additional" heavy rate of 45% on any income over $200,000. That's it. British pounds converted to dollars, and round figures. if you made a million you'd get to keep $575K. more if you had a good accountant. That seems about fair to me. I am a left winger, but I do understand you don't want to drive capital away.

    patio

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    Re: How Amazon is goingto destroy itself.
    « Reply #12 on: February 19, 2019, 04:07:05 PM »
    All i'm sayin is at your rates top end is 40%...she wants 80%...

    Scary ? ?...or no ?
    " Anyone who goes to a psychiatrist should have his head examined. "

    BC_Programmer


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    Re: How Amazon is goingto destroy itself.
    « Reply #13 on: February 19, 2019, 05:19:12 PM »
    Quote
    All i'm sayin is she is an extremist...look it up.
    I can't find anything that I think supports that very well. I can definitely find articles claiming it, but it's not very well supported.

    Quote
    She's totally happy with an 80% tax rate on anyone makin over a million a year...

    As I understand the idea in the U.S is to re-introduce additional higher tax brackets back into the Tax Code which had been removed through lobbying in the 1960's. Right now the U.S Tax brackets top out at 37% for 300,000 (500,000 for 'head of household').

    With added tax brackets, the taxable income over that amount is taxed at that rate- the full taxable income isn't taxed at the bracket rate.

    I mention "reintroduce" as in the past the United States has had higher tax brackets which went as high as 94% in 1944, for taxpayers earning over $200,000 a year (about 2.7 Million today). The tax rates were reduced in the 1960's, to great success at the time, as tax revenue managed to increase thanks to the influx of capital from corporate tax cuts.

    The idea behind it is that the current economic climate is different from the economic climate of the 1960's or the 1980's which both saw rather large tax rate reductions at the upper tax brackets, and having higher tax brackets for higher income earners can similarly boost tax revenue.



    I was trying to dereference Null Pointers before it was cool.

    patio

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    Re: How Amazon is goingto destroy itself.
    « Reply #14 on: February 19, 2019, 05:37:14 PM »
    If they had 1/2 a brain a simple flat tax plan would triple revenue...without killing the working/middle class at all...
    " Anyone who goes to a psychiatrist should have his head examined. "