Wednesday, December 02, 2020

WADDELL & REED TAKEOVER JEOPARDIZES PRICEY DOWNTOWN KANSAS CITY HQ!!!

Despite concerns about the budget at the outside of the COVID-19 pandemic, Mayor & Council approved MILLIONS of dollar for an ambitious development project and now a sign of economic hope inside the loop are at risk after an EPIC money move.

To wit . . . 

THE PROPOSED DOWNTOWN KANSAS CITY HQ FOR WADDELL & REED MIGHT NOT BE NEEDED NOW THAT THEY'VE SOLD OUT AND WILL BE RIPPED APART!!!

If anything, a great many high-end metro jobs might be on the chopping block.

The word so far on the downtown project . . .  

“Waddell & Reed Financial and Macquarie are mindful of the building project in downtown Kansas City and completely appreciate the potential impacts the transaction may have on the community,” Roger Hoadley, vice president of communications, said in an email.

“We will be working with all the appropriate parties and reviewing plans closely, carefully and collaboratively and will provide updates over the coming weeks and months.”

Translation for those who don't want to accept the cruel realities of the biz world . . .

DON'T HOLD YOUR BREATH FOR WADDELL & REED CONSTRUCTION TO SAVE DOWNTOWN KANSAS CITY!!!

Check the links . . .

KCTV5: Waddell & Reed to be acquired for $1.7 billion

KC Biz Journal: The buyer is a division of Australian financial services company Macquarie Group. As part of the deal, Waddell & Reed's wealth management business will be resold.

BizWire: Macquarie Group to Acquire Waddell & Reed Financial, Inc. for $1.7 Billion

Developing . . .

33 comments:

Anonymous said...

Not to worry.

That Biden stimulus is going to fix all of this.

Rkc said...

^^^

Really?

Don't blame anybody for this economic disaster on anybody but the guy in charge now. Remember that Harry Truman said "the buck stops here."

It's insane how much some people can't deal with reality.

I voted for Don Jr. said...

^^^

Said the dutchbag who is reading blogs @11:17 on a Wednesday night.

Sad.

Anonymous said...

Good bye waddell

Anonymous said...

^^^

Truth.

Anonymous said...

TOP PHOTO -- DOWN UNDER

The offer values Waddell & Reed shares at $25 apiece in cash or about a 47% premium to their closing price in New York on Wednesday. After the deal is completed, Macquarie will sell Waddell & Reed’s wealth management business, which has about $63 billion in assets under administration, to LPL Financial Holdings Inc. (Austin TX) for around $300 million. $$$

Pengalin said...

Waddell was fun while it lasted.

So is this the future site of more condos? Good deal.

Anonymous said...

Just the latest example, and the list is very very long, of the steely-eyed negotiators at city hall having their butts handed to them by the business/development communities.
The front-end players have already gotten their cash and the folks who run Waddell and Reed will cash in big-time as the deal closes.
What the city and the taxpayers are left with is the building.
And any up-front costs the taxpayers have already absorbed.
Good luck.
Sad.

Clayton Bigsby said...

A dutchbag?

Anonymous said...

^^They sell them in Amsterdam.

Anonymous said...

What a bunch of dutchbags

Anonymous said...

And by all means, don't ever let go of the bitterness y'all feel over Trump losing. It's really healthy. Bring it up anytime!

Anonymous said...

This is what its all about. Work, make money, sell off, make more money, retire, live well, lots of juices trust funds to keep the generations going, who don't work, spend money, save nothing, bitch and be miserable near the end.

Anonymous said...

I hope the City of Kansas City had a penalty clause in their contract with Waddell and Reed or the taxpayers are stuck again.

Taxpayer funds are supposed to be for infrastructure like roads, water, sewer, plus basic services which would be police and fire department..

Between the Kansas City Chiefs, the Kansas City Royals, Hotels, toy train, bike lanes, P&L District etc. the City of Kansas City has squandered $2 billion dollars that should have gone to infrastructure.

Add the outrageous City pension plans and the taxpayer is getting nothing in return which is obvious with rancid water, potholed streets, bridges built in 1912, crumbling sewer and water pipes from the 1800's, rampant crime and murder etc.

Unknown said...

Companies buy companies. That's nothing new. However, it's one more reason why local governments should not gamble on subsidies with taxpayer money. Instead, keep taxes and regulations low and new businesses will appear on their own.

Anonymous said...

Trump didn't lose; the election was rigged by Corporate Media, ballot harvesters, dead people voting, and the Democrat Party rigging the Dominion machines.

Americans lost as 2020 was a fraudulent election. Everyone knows it was a fraud as you simply have to look at the stats of the collective voting database.

The five major swing states had major anomalies in five major Democrat controlled cities compared to other cities of comparable size.

Philadelphia (plus Pittsburgh), Detroit, Milwaukee, Atlanta, and Las Vegas were rigged.

Follow the money.

Thanks to Hunter Biden, we already know Joe Biden is bought and paid for by Communist China. How do you think Obama builds his gigantic mansions and maintains them when he was previously a "Community Activist".

Washington D.C. is a cess-pool of bribes. Trump interfered with that by working for the everyday Americans; not the elites.

Anonymous said...

Would you sink any of your own money into this cesspool?

Anonymous said...

Enjoy your lower wages, higher taxes, and higher gallon of gas bills from the Biden administration. You voted for that so enjoy it.

Corporate Media went to the "White Supremacy" / "Racist Card" to get people to vote against their best interest of lower taxes and higher wages that Trump provided them.

You just have to look at Kansas City and see all of the taxpayer funds that the corrupt Democrat Party gives to the elites and corporations instead of being used for infrastructure of water, sewer, roads and bridges.

A large % of those corporate handouts circle back around to the politicians pockets.

The taxpayer always loses with the corrupt Democrat Party who mesmerizes its voters with the "Race Card" every election.

Anonymous said...

This has absolutely nothing to do with either Trump or Biden!

This results from Sanders turning his back on W&R's traditional (and highly profitable) methods of doing business and embarking on a program of "expansion and diversification" into areas in which W&R had no Corporate knowledge or experience.

But don't worry Sanders and all the other W&R shareholders will do just fine under this takeover and dissolution!
Waddell and Reed's clients? Not so much.

Anonymous said...

Waddell and reed played the city big time, get the city to fork over money and incentives to build at a fraction of their cost and them turn around and sell at full price!

I’d say that this was a genius plan but it’s too easy to sucker the mayor and city clowncil into forking over money by the bank load.

Anonymous said...



Waddell and Reed really clowned the City of Kansas City Administration.

Anonymous said...

I have a YUUUUGE Cock, despite what Ivana, Marla, Melania, Stormy, Karen, and all the others say - but I won't show it to you - SO THERE!

Donald "Don't Call Me A Loser" Trump

Anonymous said...

Where’s rapey joe? Nobody has seen him for weeks.

Anonymous said...

^^^ He's been busy leading the search parties trying to find out which outhouse on which Golf Course Trump's hiding in.

And taking time out to hold press conferences, like he did yesterday.

Anonymous said...

^^ 10:28 is a Dutch Bag and Cock Gobbler

Regards,

Donald J Trump

Anonymous said...

When nearly 30% of Demoncraps think Biden didn't win the election fairly, you know something isn't right.

Anonymous said...

Nicely said, thank you.

Anonymous said...

The taxpayers have been royally fucked again.

Anonymous said...

and yet not one democrat thinks Biden didn't win the election fairly. Everything you said was a lie. Weird. Trump lost in a landslide because he's a lying piece of shit like you are. Losers. Weird.

Anonymous said...

As you contradict yourself. Is it hiding or doing press conferences? At least stick to one spin.

Meanwhile, China Joe is tripping over his dog and peeing himself, while rambling weirdly at the few public appearances he's allowed to do.

Anonymous said...

^^and yet he beat Trump's ass to win the presidency in an epic landslide. So weird!

Anonymous said...

W&R has been an outdated dinosaur on every level for years. Selling it before the stock trends lower and lower was probably one of the more sensible decisions to come out of their management in awhile. Their whole industry is seeing unprecedented disruption (pardon the cliched phrase). W&R and many other legacy financial service companies are watching their business models circle the drain.

Now back to the peanut gallery of political conspiracy tardos.

Anonymous said...

^^^4:09pm is on the right track. I became intimately familiar with Waddell & Reed in 2017. At that time, they had no business plan of any kind... ever in the history of its existence. How’d they get by? White Supremacy, of course. Those in charge most recently pushed this business to the edge by incentivizing hiring friends, relatives, friends of friends, cousins and what not and put them in positions of power and authority from Human Resources to middle and upper management. When a husband and wife are working in the same department - one as management - the other in middle management... what could go wrong? White people ran this place into the ground. Management has no skill set - nobody seems to know what they’re doing or have the passion or acumen to perform better than average and the company refused to invest in its employees education in meaningful ways. White people killed Waddell & Reed. This is what the friends and family network gets you in business... a fire sale.