Chiquita reports $16 million 4Q loss, Will Queen city see what has been promise (Charlotte: homes, income)

[SunnyKayak]

Is it just me or the touted number of promise of 400 jobs will not happen anytime soon or at all.

Chiquita is bringing 200 jobs and that is good but that is what they staff at there headquarters now.

read more on the reported loss here Chiquita reports $16 million 4Q loss, will move in April | WCNC.com Charlotte

[brokensky]

Tough economic times . . . changes can be made at any point if it means keeping a company viable. So who knows. I guess we will just have to wait and see.

[spankys bbq]

When is the last time we saw what was promised when the local gubment was involved? NASCAR Hall of Fame? Bobcats? White Water Center? Bueller?

[Jake Ryan]

I agree, it would have been nice to see their financial results prior to offering them all of the tax incentives for coming. This will certainly hinder any hiring since the quickest way to cut losses is to cut (or not hire) employees.

[GoPhils]

Second paragraph in the article:

The company best known for bananas lost $16 million in the fourth quarter, according to its financial filings. That's a smaller loss than the fourth quarter of 2010, when the company lost $20 million. The company typically takes a loss in the fourth quarter, although that loss has gone down every year since 2008. In 2011 overall, the company made $57 million, compared to $61 million in 2010.

[rnc2mbfl]

Sounds like some monkey business is going on! Sorry... I couldn't help taking the bait regarding bananas.

[southbound_295]

if they don't meet their promises they don't get the incentives.

[Jeepchic]

So basically the loss is standard, but better than previous years; and a loss this big is expected in their 4th quarter.

I get it.

[Redd Jedd]

Originally Posted by GoPhils

Second paragraph in the article:

Good catch.

[goindownsouth2011]

Originally Posted by southbound_295

if they don't meet their promises they don't get the incentives.

And I believe the promise was 400 jobs at an AVERAGE (average, not median) salary of $100k. So they move their corporate excecs down here that are pulling in a few million each, which will maintain that $100k average, even if they hire locals and pay them peanuts. I don't see an obvious benefit to offset the money that was given away by the city. These same execs probably have 2nd homes in states with no income taxes, where they will claim residency.