Comments on: Another taxpayer-subsidized business goes bankrupt http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/ A Weblog for Kansas City, Missouri. Mon, 15 Mar 2010 21:38:10 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Chris Dowell http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/comment-page-1/#comment-190278 Chris Dowell Mon, 17 Dec 2007 22:10:40 +0000 http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/#comment-190278 Lets give them another tax break to keep them from going into bankruptcy. Lets give them another tax break to keep them from going into bankruptcy.

]]> By: Jason Brown http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/comment-page-1/#comment-190277 Jason Brown Mon, 17 Dec 2007 22:01:48 +0000 http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/#comment-190277 Another tax break anyone? Another tax break anyone?

]]> By: Chris http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/comment-page-1/#comment-66549 Chris Tue, 29 Aug 2006 12:53:51 +0000 http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/#comment-66549 Wow. A business that isn't performing well is given money by the government and it still doesn't perform well. Are we this stupid? Wow. A business that isn’t performing well is given money by the government and it still doesn’t perform well. Are we this stupid?

]]> By: Chris Dowell http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/comment-page-1/#comment-66418 Chris Dowell Mon, 28 Aug 2006 05:44:54 +0000 http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/#comment-66418 Ford announced that their sales are down over 50%. It would make sence that an accessory company would be having a difficult time. Does anyone from the city do their research? Ford announced that their sales are down over 50%. It would make sence that an accessory company would be having a difficult time. Does anyone from the city do their research?

]]> By: Mark Forsythe http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/comment-page-1/#comment-65866 Mark Forsythe Fri, 18 Aug 2006 15:45:18 +0000 http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/#comment-65866 There were some clawback stipulations regarding the property and sales tax abatement tied to employment goals and whether the company remained on the site. However, I'm going to guess nobody foresaw the possibility of bankruptcy and acquisition by another firm. This was an LCRA deal so the specifics aren't available online. You have to go down to their offices and pull the files yourself. It will be up to the bankruptcy court to sort it out but I'm fairly confident American Racing Products factored in the value of 20 years of property tax abatements into their bid. There were some clawback stipulations regarding the property and sales tax abatement tied to employment goals and whether the company remained on the site. However, I’m going to guess nobody foresaw the possibility of bankruptcy and acquisition by another firm.

This was an LCRA deal so the specifics aren’t available online. You have to go down to their offices and pull the files yourself.

It will be up to the bankruptcy court to sort it out but I’m fairly confident American Racing Products factored in the value of 20 years of property tax abatements into their bid.

]]> By: hajkar http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/comment-page-1/#comment-65828 hajkar Fri, 18 Aug 2006 00:35:15 +0000 http://blogkc.com/archives/2006/08/another-taxpayer-subsidized-business-goes-bankrupt/#comment-65828 I guess those P Diddy wheels were a bust. I guess those P Diddy wheels were a bust.

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