If you want to read it for free, it's listed on Scribd.com. Just copy and paste the full title in the search box and you're good to go.
Posted on 02/11/2011 11:45:21 AM PST by MichCapCon
One of the first beneficiaries of the Michigan Economic Growth Authority tax credit program was Waldenbooks, a subsidiary of Borders Group.
The MEGA program, created in 1995, offers tax breaks to companies that invest or locate in Michigan. Waldenbooks chose Michigan over Tennessee and received a reported $7.7 million tax credit.
But Michael LaFaive, director of the Mackinac Center's Morey Fiscal Policy Initiative, pointed out that before the MEGA credit was even approved, the Ann Arbor News reported that the company’s president was buying a home in Michigan. LaFaive’s question: Was it really necessary to hand over the $7.7 million special credit if the company was already showing such strong signs of coming to Michigan anyway?
Now, more than a decade later, news that Borders is considering bankruptcy bolsters LaFaive’s belief that market forces will win out over government’s targeting of favored businesses for tax relief...
(Excerpt) Read more at michigancapitolconfidential.com ...
i never understood their business model.
they let young people that can’t afford magazines
read them as they drink coffee.
ditto for books.
often a book that i wanted to purchase was coffee stained.
when i asked the management for a new book, they said they would order one.
lost my sales.
they never seemed concerned about this.
They followed the business model of Barnes and Noble
While Jeff Bezos of Amazon.com sat back and smiled.
Michael LaFaive is one of the few who dares to point out the fraud and waste that is hidden in the misguided efforts known as “economic development”. Pay close attention to what new Michigan Gov. Snyder does to eliminate MEGA - this could be the turning point for saving tens of millions of taxpayer dollars in MI and elsewhere.
The MEGA program, created in 1995, offers tax breaks to companies that invest or locate in Michigan. Waldenbooks chose Michigan over Tennessee and received a reported $7.7 million tax credit.Plus, a "Cool Cities" program would have been a lot better use of the money. ;') Thanks MichCapCon.
If you want to read it for free, it's listed on Scribd.com. Just copy and paste the full title in the search box and you're good to go.
Sunken, neverdem, *PING* to the book.
Cheers!
Sunken, neverdem, *PING* to the book.
Cheers!
Borders Group Files for Reorganization Relief Under Chapter 11
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