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Don't hold back anything. I'm sure the largest part of the decision is simply the cost to rebuild. There's the demolition costs of the remaining structure, then any new construction would have to meet current standards, not what pre-existed.
Funny someone mentioned the cost of auto repairs. When I was 18 mechanics on a piecework basis used to get 50% of the labor charge. Today you are lucky to find one that gets 30%, so where has all that money gone. Mechanics still have to buy their own tools. An investment of thousands, yet more and more of the labor charge goes to the "house".
Everyone of the Republican Candidates when asked about minimum wage in the Republican debates stated wages are too high. Yet we cheer the head of United healthcare and others making a multimillion dollar salaries for managing a company that ads NO value to the product. Congress has raised their own pay HOW many times but not minimum wage. Could someone please explain that to me??
I will explain it to you. The minimum wage is price fixing of labor. We actually outlaw price fixing in the private sector, because it is bad for people. But it is OK for the state to fix the price of labor? By what right in a free society do you coerce me to pay a price for the exchange of time and talent beyond that which I may negotiate freely? Who the hell are you to ORDER me, under penalty of imprisonment, to pay a certain amount to someone in exchange for the use of their time? That is known as TYRANNY. And it is a characteristic of communism and fascism, not capitalism and freedom.
You, of all people, should know that the Marcal land is more valuable for something else beside low margin manufacturing. If they are even considering a restarting the plant, they can buy land in western NJ or PA for much cheaper than the value of the Elmwood Park location.
Also, the original family sold to Highland Capital Management in 2008 for about $160 million. The current owners are not tied to history. I am sure Highland Capital Management is looking at the Elmwood Park land as a real estate development opportunity. Highland Capital Management created plans for the site as soon as they bought Marcal.
No, I don’t “know” that particular piece of land, in that location, is suboptimally utilized for manufacturing. And neither do you. In fact, if that were the case, Marcal would have closed long ago and availed themselves of the much better opportunities you are imagining. It is a close enough decision that they didn’t pursue an alternative utilization in the past and were happily pumping out paper products right up until last week.
Didn't George Washington visit the Marcal Plant on his farewell tour? That place is pretty ancient and if I remember correctly, Marcal paper products didn't do all that well in Consumer Reports. The quicker picker-upper has nothing to worry about! I bet the owners did a quick "Marcalculation" that a "heaven-sent" fire would hasten the development of "The Woods at Elmwood Park" condo complex!
If Marcal ever does decide to build a new plant, they'll follow Mercedes-Benz' lead and move to Georgia! Those hefty tax rebates are calling!
I can only think of one reason that businesses haven't left NJ because they don't have enough capital to relocate.
If Marcal does receive insurance money, then even I would take it and run away from NJ. There's no incentive to start a factory here when there are cheaper states to open factories where the state and city even give you free money to start a factory there.
The cost of shipping has gone done a lot due to cheaper fuel costs which has helped the trucking industry expand.
If NJ want jobs here they have to create business incentives here. It's not only about $15/hr wages. NJ can't afford to copy NYC socialist laws because it doesn't have enough business activities to do so.
That makes no sense on two fronts. Firstly, in a free society, no wage is too much or too little. It is just exactly correct because it is negotiated freely between the employer and the employee.
Secondly, you did not specify what the $95/hr includes. It includes physical plant, property taxes, insurance, regulatory and environmental compliance, tools, training, utilities, upgrading of physical plant and constant education, and a whole boatload of other costs.
And labor on top of all that, including confiscatory social security contributions, expensive workmens comp insurance, and being forced to comply with family leave bull$hit laws and the rest of it.
So, number one, an employer doesn’t have to justify anything to you in a free society, but even if we want to go there, it is preposterous to assert that $15/hour is acceptable because $95/hour is charged to you at retail.
Should the State require a license for someone to sell real estate?
As I say to everyone on these disgusting political threads that serve only as the minority's cry for attention, and because I'm choosing to adopt the saying: "If you hate it here so much, why don't you just move?"
I had a short discussion with my mechanic yesterday, about the upcoming min. wage requirement -- he said that he couldn't hire a new worker because $15/hr. is "too much".
Then I said "but you charge us $95/hr. for your services".
He had no reply.
… and then there is the reality that the minimum wage is being boosted in increments over the next five years, and will not reach $15 until 2024. However, if somebody receives his "news" from the Faux News Network, he is sure to believe that the minimum wage is going to be boosted to $15 per hour this year.
As I say to everyone on these disgusting political threads that serve only as the minority's cry for attention, and because I'm choosing to adopt the saying: "If you hate it here so much, why don't you just move?"
Because people are unhappy about the politics doesn't mean they should just leave their homes and families. That's like saying to you Leftists, if you are so unhappy about Trump, why don't you just move out of the country?
Because people are unhappy about the politics doesn't mean they should just leave their homes and families. That's like saying to you Leftists, if you are so unhappy about Trump, why don't you just move out of the country?
Exactly my point. Except mine makes more sense. You guys have been saying this for years, so why don't you take your own advice? And actually, your move is far easier. Doesn't take a visa or residency status to move to Alabama. I've applied for jobs outside to the US and it's not easy to get hired when you don't have work visa. Nothing is stopping you from moving to Alabama.
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