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Yeah, pay for that big fancy office. Shareholders over American jobs.
They dumped a part of their auction business to Carvana, smart move.
This is $10MM of $30MM in cost savings. What’s next? It does not look promising for a company that has been based in Indiana since it went public in 1992.
Wonder what proportion of the eliminated jobs were “working remotely” ?
This is like Jimmy Carter 3.0. First they run up inflation and then the FED increases interest rates to stop the inflation and then the higher interest rates kill the economy. And the FED says “look we stopped the inflation.” However, they had to kill the economy to do it. If they keep increasing interest rates, eventually all businesses will have to lay off everyone and then still go out of business because there is not there to work for them and no customers either because they have no jobs.
Don’t we ever learn ANYTHING in this country?
From the IBJ in 2017 …
“The Indiana Economic Development Corp. expects to offer KAR up to $6.45 million in conditional tax credits and up to $500,000 based on the job-creation plans. The incentive plan, which still requires approval from the IEDC’s board of directors, also would provide Hamilton County with as much as $1 million in infrastructure assistance from the state’s Industrial Development Grant Fund.
The city of Carmel is is expected to use up $10 million in tax-increment financing revenue generated from the project to pay for construction of a parking garage, road access and stormwater detention.”