Saturday, May 01, 2021

Kansas City Waddell & Reed Pwnage Finale

An iconic Kansas City company is no longer locally owned and won't be relocating to downtown despite a LAVISH tax break worth tens of millions of bucks.

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Australian company completes acquisition of Waddell & Reed

The Australian financial company that bought Kansas City-based Waddell & Reed announced Friday that it has completed the $1.7-billion acquisition. Macquarie Asset Management spun off Waddell & Reed's wealth management platform to LPL Financial Holdings as part of the deal.

7 comments:

Anonymous said...

Kansas City loses on speculation once again.

Kim Jong Un said...

Goodbye Mate!

Anonymous said...

Waddell & Reed was a horrible company to begin with. Good riddance.

Anonymous said...

And they leave a half-finished building and a big bill for the KCMO taxpayers to figure out what to do with.
More amazingly clever negotiating from the children at 12th an Oak.
They leave these negotiations with nothing but big smiles and their socks.
And it never ends.

Anonymous said...

Kansas City is very good at getting taken to the cleaners. It's almost like they lose money on purpose.

Anonymous said...

Yes. The nail is in the coffin. Now get rid of all the tired employees that were hired by the takeover company...otherwise they're going to sink the new vessel too. Waddell & Reed had good intentions but the people who worked for Waddell & Reed were horrible, which makes work life horrible. I want the new companies to clean house...that is rid themselves of each and every manager or so-called leader in the organization.

Anonymous said...

$16 million in cash and another $20 million in tax abatement... but hey, what's more debt service coming out of the general fund amongst friends?