Bob1008
01-24-2011, 08:53 PM
Ray Mitchell called A.J. Wright’s closing of its distribution center in the Commerce Park “corporate greed” because the company turned a large profit.
http://www.heraldnews.com/features/x1235858248/Raymond-Mitchell-wants-companies-to-pay-back-tax-breaks-if-they-back-out-early
As usual, Councilor Mitchell is talking out of his uninformed ass. A.J. Wright is a publicly held corporation with a duty and responsibility to it's shareholders.
This is a company that has provided livelihoods to 800 families for over 10 years. And now he wants to punish them because their business is failing? What about the past 10 years that this fine company provided so many jobs to this area? Even with the discounts, this company pays a quarter million dollars a year in property taxes and is fully paid right up to date.
Sure, it would be great it it could continue. But the management of the company has decided that this business model is no longer viable, and that it would be in the best interest of the shareholders to make changes.
Councilor Mitchell is somehow under the misguided belief that this company has some type of responsibility to provide jobs for the community, even if it is not in the best interest of the owners of the corporation (the shareholders).
Why is Mr. Mitchell never so outspoken about the greed of many of his fellow politicians? I did not hear a peep from Councilor Mitchell about the $130k jobs handed out to local retiring politicians. Is this not greed?
Bottom line is.....A.J.Wright's primary responsibility has to be to the people that have invested their hard earned dollars in this business. (the shareholders that own the stock). These people expect and deserve that the decisions of the corporate management will always be in their best interest. Sometimes the best interest of the owners may not be the same as what's best for the community. That's unfortunate, and it's too bad. But the interests of the shareholders has to take precedent over continuing the business as a charitable community employment center.
Mr. Mitchell say's the company "turned a large profit". Whats large? How much is enough? Have they covered the huge losses from previous years?
Does Mr. Mitchell believe he has the qualifications to determine what is best for a company the size of TJX ?
It's so easy for an out-of-touch, and anti-business political hack like Ray Mitchell to attack the big bad greedy company. It makes good headlines and gets front page press on a slow day.
I'd suggest that if Mr. Mitchell wants to be a philanthropist , he should open his own company, and provide the jobs to the community with his money. And not the hard earned investments from the shareholders of A.J. Wright.
http://www.heraldnews.com/features/x1235858248/Raymond-Mitchell-wants-companies-to-pay-back-tax-breaks-if-they-back-out-early
As usual, Councilor Mitchell is talking out of his uninformed ass. A.J. Wright is a publicly held corporation with a duty and responsibility to it's shareholders.
This is a company that has provided livelihoods to 800 families for over 10 years. And now he wants to punish them because their business is failing? What about the past 10 years that this fine company provided so many jobs to this area? Even with the discounts, this company pays a quarter million dollars a year in property taxes and is fully paid right up to date.
Sure, it would be great it it could continue. But the management of the company has decided that this business model is no longer viable, and that it would be in the best interest of the shareholders to make changes.
Councilor Mitchell is somehow under the misguided belief that this company has some type of responsibility to provide jobs for the community, even if it is not in the best interest of the owners of the corporation (the shareholders).
Why is Mr. Mitchell never so outspoken about the greed of many of his fellow politicians? I did not hear a peep from Councilor Mitchell about the $130k jobs handed out to local retiring politicians. Is this not greed?
Bottom line is.....A.J.Wright's primary responsibility has to be to the people that have invested their hard earned dollars in this business. (the shareholders that own the stock). These people expect and deserve that the decisions of the corporate management will always be in their best interest. Sometimes the best interest of the owners may not be the same as what's best for the community. That's unfortunate, and it's too bad. But the interests of the shareholders has to take precedent over continuing the business as a charitable community employment center.
Mr. Mitchell say's the company "turned a large profit". Whats large? How much is enough? Have they covered the huge losses from previous years?
Does Mr. Mitchell believe he has the qualifications to determine what is best for a company the size of TJX ?
It's so easy for an out-of-touch, and anti-business political hack like Ray Mitchell to attack the big bad greedy company. It makes good headlines and gets front page press on a slow day.
I'd suggest that if Mr. Mitchell wants to be a philanthropist , he should open his own company, and provide the jobs to the community with his money. And not the hard earned investments from the shareholders of A.J. Wright.