The Bids Are In: Amazon Offered Up To $7 Billion In Tax Breaks ($140k Per Employee) For Second U.S. HQ

The Bids Are In: Amazon Offered Up To $7 Billion In Tax Breaks ($140k Per Employee) For Second U.S. HQ:

For the past several months, cities all across the country have been competing for the opportunity to host Amazon’s second headquarters which promises $5 billion in capital investment and 50,000 new jobs over a period of time.  And now that the bids are in, we have the opportunity to review some of the staggering tax subsidies offered to one of Silicon Valley’s biggest companies.

New Jersey apparently ‘wins’ the prize for ‘biggest tax cuts’ after offering $7 billion in state and city tax credits, or roughly $140,000 per job promised by Amazon…which should be plenty to once again thrust Bezos to the top of the world’s richest list. Per Reuters:

Read moreThe Bids Are In: Amazon Offered Up To $7 Billion In Tax Breaks ($140k Per Employee) For Second U.S. HQ

Amazon Announces Plans For $5 Billion Second North American Headquarters

Amazon Announces Plans For $5 Billion Second North American Headquarters:

Amazon.com announced plans on Thursday to open a second headquarters somewhere in North America that will house up to 50,000 employees and cost $5 billion to build and operate. The company is soliciting bids from local and state government leaders for the project, dubbed Amazon’s “HQ2,” and said it would prioritize metropolitan areas with more than one million people.

“We expect HQ2 to be a full equal to our Seattle headquarters,” Amazon’s CEO Jeff Bezos said. “Amazon HQ2 will bring billions of dollars in upfront and ongoing investments, and tens of thousands of high-paying jobs. We’re excited to find a second home.”

Read moreAmazon Announces Plans For $5 Billion Second North American Headquarters

Amazon Vs Maersk: The Clash Of Titans Shaking The Container Industry

Amazon Vs Maersk: The Clash Of Titans Shaking The Container Industry

H/t reader squodgy:

“Bezos doesn’t care a toss.

Once he moves into the Logistics loop, he’ll automate, rationalise, re-structure, streamline, acquire, rationalise again and leave the hitherto working population in tatters.

My question is, as with Wal-Mart, if they keep on eliminating all levels of employment by cutting/automation, where will their customer base be?

Just as with the big Global Corps, who will buy their goods as the giants swallow up competition and rationalise, such as Buffets Kraft & Cadbury & Heinz merged.”

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“It Won’t Be Long Now” – David Stockman Warns “Amazon Is The New Tech Crash”

“It Won’t Be Long Now” – David Stockman Warns “Amazon Is The New Tech Crash”:

The Amazon business model is fatally flawed. It’s only a matter of the precise catalyst that will trigger the realization in the casino that this is another case of the proverbial naked emperor… I do not think AMZN is a freakish outlier. It’s actually the lens through which the entire stock market should be viewed because the whole enchilada is now in the grips of a pure mania.”

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The Amazon Effect: Retail Bankruptcies Surge 110% In First Half Of The Year

The Amazon Effect: Retail Bankruptcies Surge 110% In First Half Of The Year:

As Amazon flirts with a $500 billion market cap, letting Jeff Bezos try on the title of world’s richest man on for size if only for a few hours, for Amazon’s competitors it’s “everything must go” day everyday, as the bad news in the retail sector continue to pile up with the latest Fitch report that the default rate for distressed retailers spiked again in July.

According to the rating agency, the trailing 12-month high-yield default rate among U.S. retailers rose to 2.9% in mid-July from 1.8% at the end of June, after J. Crew completed a $566 million distressed-debt exchange. Meanwhile, with the shale sector flooded with Wall Street’s easy money, the overall high-yield default rate tumbled to 1.9% in the same period from 2.2% at the end of June as $4.7 billion of defaulted debt – mostly in the energy sector – rolled out of the default universe.

Read moreThe Amazon Effect: Retail Bankruptcies Surge 110% In First Half Of The Year

Amazon Hosts Robotics Competition To Figure Out How To Replace 230,000 Warehouse Workers

Amazon Hosts Robotics Competition To Figure Out How To Replace 230,000 Warehouse Workers:

Amazon has mastered the art of moving bins around a warehouse floor with miniature robotic forklifts, but a solution to automating the simple task of picking individual items out of those bins has remained elusive.  And, with 1,000’s of very expensive, sickly and generally needy humans currently fulfilling that task, you can bet Amazon is eagerly pursuing that solution with some level of urgency.

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