Thursday, December 19, 2019

TKC MUST SEE!!! KANSAS CITY COMMUNITY GROUPS ORGANIZE AGAINST CORPORATE WELFARE FOR WADDELL & REED!!!



A proposed Downtown Kansas City HQ move Waddell & Reed has met with fierce opposition from a cadre of local activists and neighborhood leaders.

The critics of this development gambit are watching the actions of Mayor Quinton Lucas closely given that they believe he ran against this kind of egregious taxpayer subsidy of BILLION-DOLLAR corporations.

To wit . . .

TAKE A LOOK AT LOCALS ORGANIZING AGAINST THIS MASSIVE KANSAS CITY TAX BREAK FOR WADDELL & REED!!! 

Moreover . . .

TODAY THESE ACTIVISTS HOPE TO FLEX ON MAYOR & COUNCIL AND DEMAND MORE ACCOUNTABILITY!!!

Here's the word from More² --

Watching City Council: Is it a Season of Corporate Welfare?

"On Thursday at 12/19/19, City Council will vote on a HUGE deal, a $44million (plus $62 Million State) TIF package for Waddell and Reed to vacate their current place & rebuild...at the expense of our schools, libraries and mental health levy. Meeting starts at 3PM, wear your red/ green!"

An important Change.org petition that has garnered hundreds of signatures:

Demand transparency & accountability BEFORE giving $100 MM in tax breaks to Waddell & Reed

Waddell & Reed, with net income of $1.9 billion between 2009 and 2018 is asking the City Council to approve $44 million of local incentives (along with $62 million in state incentives) to relocate its HQ from Overland Park, KS to Downtown KC . . .

This request comes with very little information about the project or the developer, and ZERO financial justification regarding the need for taxpayer assistance ...

Please contact the Mayor and Council to demand transparency and accountability BEFORE granting $44 million of local tax breaks that are intended to fund schools, public safety, libraries, and social services . . .
#########

Developing . . .

29 comments:

Anonymous said...

Enough is enough. No more money for people just to move to downtown. They won't be creating many new jobs. This is just a bonus for their shareholders and nothing more.

Anonymous said...

^^^ Good luck. My guess is that they pass it with a few million less and then declare victory.

Renne said...

Better title for your T:

Today we find out if Quinton is all talk!

Anonymous said...

^^^ +100

Anonymous said...

Impeach Lucas!

Just Say No said...

They've got $62 million from Missouri, they don't need KCMO cash.

Anonymous said...

Mayor McDrinkerson is their pet, and he knows his place.

Anonymous said...

I'll tell you what's even more ironic here TKC. They're doing this on the same day when they're also trying to pass the "border war" truce. This is the exact opposite of that.

Anonymous said...

Vote democrat.

Anonymous said...

And.......................

Kansas City mayor allocating $500,000 to help storefronts along Troost Dec 18.

Lucas said he hopes Troost is merely the start, as he hopes to allocate money for revitalize other areas of the city where commerce has gone stagnant.


Ahh let me guess Waddell and Reed are going to pay for it?

Anonymous said...

TOP PHOTO -- FLASH IN THE PANS

On May 6 2010, the Dow Jones Industrial Average lost nearly 1,000 points (about 10 percent of its value) in a 20-minute span, erasing about $1 trillion in market capital. Reuters uncovered documents showing Overland Park-based Waddell & Reed (NYSE: WDR) was responsible for about 9 percent of the trading volume in e-mini contracts — all sell orders — during that period. Federal regulators released a report about the flash crash incident on Friday, but didn’t directly name Waddell & Reed.

“Such trades are often executed in response to market activity, and are undertaken to protect fund investors from downside risk,” Waddell said in a statement after the incident. “We use futures trading as part of this strategy, broadly known as hedging. This is a long-standing and well-monitored practice in certain of our investment portfolios.”

“Who puts in a $4.1 billion order without a limit price?” Cummings wrote in the e-mail. “The trader at Waddell & Reed showed historic incompetence.”

(KC Business Journal excerpt above)

Anonymous said...

Hahahahahahahahahaha

KCMO leaders advance 'border war' truce proposal
Ordinance goes to full City Council Thursday


OMG

Anonymous said...

^^^ So they are going to approve the Waddell and Reed deal then approve the Border War Truce thing?


Gawd help us all

Anonymous said...

"KANSAS CITY COMMUNITY GROUPS ORGANIZE"

Which communities authorized these whiners to represent their members' interests? Soros funded left wing activist organizations are not community groups just because they claim they are.

Anonymous said...

Easy way for quinton to beat this: Do the right thing. Vote NO!

Anonymous said...

How about fixing the roads along 39th street from Broadway to the west? Is this the wrong part of town???

Anonymous said...

^^^^ +1

Driving along the streets in Kansas City is like a damn roller coaster ride.

Charlie Horse said...

Not one penny for those W&R bastards. They laid off my daughter plus hundreds more to save money during last several months. sQuintworth: Do not give those greedy SOBs any of our tax money.

Anonymous said...

Smiley selfies gutless Lucas will try to be sure that there are enough votes on the cowardly city council so that he can vote no, still have this farce pass, and then be able to say that he tried his best.
The current cast of characters is exactly like all the others over the years.
They have no agendas of their own that have anything at all to do with municipal public policy and actual services to residents, but instead are empty vessels being constantly jerked around by insiders, favor-seekers, developers, campaign contributors, salesmen, and just plain grifters.
The Waddell and Reed "incentives" may end up being a little less than originally proposed, but the giveaways never end.
Momentum!

Anonymous said...

I support moving businesses downtown. We've put so much money into condos and forgotten about an actual economic engine

Anonymous said...

I am sure these rich JO SUV driving smart asses want to start driving into Shitty City to work and pay the e-tax.

Hyperblogal said...

In terms of giveaway deals, we've moved from silly to obscene.

Anonymous said...

11:27AM comment

No worries! They'll likely get an exemption from the 1-percent earnings tax, just like Burns and McDonnell did.

If you pay (campaign contributions) the right politicians in KCMO, they'll sell you their vote. And it cost surprisingly less than what you might think.

Anonymous said...

Lucas is just another lying politician, will say anything to get elected! Of course what choice did we have, so the lesser of two evils I suppose, hopefully someone with integrity will oppose him in 4 years because I will do everything to campaign against him, and he has just been a mayor for a few months, God help us,

Anonymous said...

Quinton seems very effeminate and a pushover. Unwilling to stand up for what is right.

Anonymous said...

So did Smiling Selfies City Council approve the "Historic" Waddell and Reed Taxpayer robbery.

Anonymous said...

She should have put out more.

Anonymous said...

@ 1:30, Good point in the "lesser of two weasles". By the way what ever happened to th gay woman in the race, besides she got beat?

Anonymous said...

Former Waddell & Reed exec warns Kansas City against incentives to move firm downtown

“Frankly, I am appalled that Waddell & Reed is attempting to secure tax incentives from Kansas City for the purposes of moving their headquarters from Overland Park,” said Rick Perry, a former senior vice president. “I would caution the KC Council and others to be very careful in entering into ANY long-term financial arrangement with Waddell & Reed. The company may have been something in the past that it is NOT now.”