Dear Village Board and City of Racine Alderpersons

Dear Village Board and City of Racine Alderpersons, 
 
UWM Economics Professor Menzie Chinn notes: 
 
"Scott Walker Is a Rube" 
 
From NYT, “Foxconn Is Reconsidering Plan for Wisconsin Factory“: 
 
Link: https://www.nytimes.com/2019/01/30/business/foxconn-factory-wisconsin.html 
 
Foxconn, the giant Taiwan-based company that announced plans for a $10 
billion display-making factory in Wisconsin, now says it is rethinking 
the project’s focus because of “new realities” in the global 
marketplace. 
 
Clearly, neither the explicit subsidies and tax expenditures, nor the 
relaxations of environmental regulations, were sufficiently large to 
ensure the Foxconn investment. 
 
Discussion in my 2017 post. See a broader recap of such incentives in 
a guest contribution by Professor Ann Markusen. 
 
A CROWE economic analysis contingent on implementation as planned, here. 
 
It is possible that Foxconn will reverse its recent decision, and move 
back to planning for a massive production facility. However, with 
global growth slowing and US labor costs relatively high, I don’t see 
this happening in the near future. 
 
Link: http://econbrowser.com/archives/2019/01/scott-walker-is-a-rube
 
Be sure to read it all - including the comment section, and follow the links. 
 
Foxconn admits that manufacturing costs for labor are too high in SE 
WI to be profitable in a Global Economy. 
 
Does MTP Village President David "Sewer Monster" DooFus, er... 
DeGroot, have anything to say about that? Maybe Village Staff and 
Employees will need to begin experiencing severe cuts to their wages 
and benefits to bring them better in line with Third World Countries, 
H-1B's, and emerging industrialized countries such as China and India. 
I suggest that MTP could begin by paying questionably competent 
Village Clerk Stephanie Kohlhagen $2.50 per day and requiring her to 
work 12 hour shifts - 6 days a week. Hurrah! for Equality and all that 
other stuff! Now she qualifies to be a Foxconn Employee! No more MTP 
Village overpaid, overcompensated, and incompetent staff! And MTP 
Village President David DeGoofus can finally lower taxes - as he so 
promised due to his being a Tea-Tard. 
 
A potential bright spot - as Amazon seems to have lost it's taste for 
New York - why not MTP, WI. The infrastructure is ready to go! The 
Taxpayers are on the hook - and the timing is perfect..... 
 
"A Devastating Loss" - NYC Real Estate Stunned After Amazon Threat To Leave 
 
Our initial reaction when we saw the headline in the Washington Post 
this morning about Amazon reconsidering its move to Queens was that 
all the real estate speculators who had scrambled to buy up nearby 
property (or shares in NYC-based REITs) would experience a dizzying 
surge of anxiety. And as it turns out, in offices across NYC, hundreds 
of real estate brokers were thinking the exact same thing. 
 
Late on Friday, reporters for Bloomberg canvassed established brokers 
with most of the big houses across the city, and their responses 
ranged from shock, to amusement, indignation, and disbelief. 
 
Bill Montana, a senior managing director at Savills, exclaimed that 
Amazon would be "exceedingly foolish" to scrap its plans to move to 
the Big Apple. 
 
    Bill Montana was schmoozing with real estate brokers Thursday at 
an industry event in New York, talking about the biggest deal in 
years: Amazon.com Inc.’s decision to build a major campus in Queens. 
 
    By the next morning the euphoria had evaporated. Reports the tech 
giant was reconsidering its plans amid a fierce public backlash sent a 
jolt through the real estate community that was pinning their hopes on 
a significant pickup in activity. 
 
    "You gotta be kidding me!" Montana, a senior managing director at 
brokerage Savills Studley, said when reached by phone Friday. "Amazon 
would be exceedingly foolish to actually pull out of this deal." 
 
Continuing with that theme, a broker at Colliers said scrapping the 
move to Queens would hurt Amazon as much as - if not more than - the 
city itself. 
 
    "It would be somewhere between a terrible shame and a devastating 
loss," said Michael Cohen, tri-state region president at brokerage 
Colliers International Group Inc. 
 
    "It’s not the end of the world, but it’s a self-inflicted wound 
that will possibly send the signal to others that might have wanted to 
follow in Amazon’s footsteps." 
 
Savanna, the owner of Citigroup's Long Island City office, affirmed 
that Amazon had signed a letter of intent to move about some employees 
into the Citigroup building at 1 Court Square. Citi is already 
preparing to move 1,100 employees out of the building. Both parties 
would undoubtedly be less-than-pleased if Amazon backed out of the 
agreement. 
 
Brokers who have been in the process of negotiating sales are probably 
also pissed about possibly losing out on some fat commissions, as even 
the whiff of a possible Amazon pullout could send would-be buyers - 
some of whom were planning to pay premiums as high as 20% over recent 
prices - immediately fleeing. 
 
Link: https://www.zerohedge.com/news/2019-02-08/nyc-real-estate-brokers-express-frustration-shock-disbelief-after-reports-amazon
 
If Foxconn refuses to provide 13,000 jobs paying $53,000 per year - 
then bring Amazon here. That's better than Plan "B" - aka Bankruptcy. 
No doubt, MAGA President Donald Trump can assist MTP Village President 
David DeGoof in bringing Amazon to MTP - to fill the empty spaces 
created by the failure of the Foxconn miracle to materialize. 
 
Good luck to all - and Happy 2019! Surely, Residents can't wait to see 
their 'NEW" and "IMPROVED" lowered tax bill due to all of the revenue 
generated from the BILLIONS of $$$$ invested in the Fox-Scam Fiasco. 
 

====================================================== 
 
City of Racine can now *FIRE* 3 unnecessary positions from the 5 
currently ensconced in the Mayor's Office - begin wage and 
compensation decreases  - to better match that of 3rd World Nations 
and emerging economies, and.... 
 
*FIRE* City Attorney Scott  Letteney and his entire staff. 
 
*FIRE* City Administrator Nick Palenick. 
 
*RESIGN* Cory! 
 
*FREE* Sandy! 
 
Sincerely, 
 
Tim & Cindy