Thomson Worst

In the PiPress’s thorough and thoughtful coverage of Eagan-based publisher Thomson West’s $15 million taxpayer ransom demand, the company served up particularly dim spin.

The article reads: “Why should elected officials spend public money for a construction project that the company can easily afford on its own in the city where it prefers to expand anyway?

Richard H. King, chief operaions officer of Thomson West’s legal and regulatory division in Eagan, might have the most honest answer: This is how the game is played. Economic incentives area a fact of life.”

For those of you who don’t speak Corleone, here is the translation: “We made them an offer they can’t refuse.”

– Loveland

2 thoughts on “Thomson Worst

  1. Tony Carideo says:

    You know, Joe, it IS an offer they can refuse. If Tompson can’t earn an adequate (emphasis on adequate) return on invested capital without a $15 million subsidy, then they shouldn’t be considering the project. Eagan should call their bluff.

  2. jl says:

    You’re right, and I’d love to see them do it. I don’t think there is as much competitive pressure as they think, but I can see why they get nervous.

    As the Federal Reserve Bank official said in this article, it’s Congress that deserves the most blame. They, not state and local officials, are charged with regulating interstate commerce, and a 100% tax on state and local subsidies, would eliminate the bidding wars between state and local governments. But they Congress won’t clamp down on smokestack chasing, because these are sweet little deals for their corporate funders.

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