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Author Topic: Cincinnati: General Business & Economic News  (Read 17274 times)

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Online jmblec2

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Re: Cincinnati: General Business & Economic News
« Reply #1800 on: January 11, 2018, 05:03:46 PM »
Well the HQ2 daydreaming was good while it lasted: https://www.google.com/amp/s/www.bostonglobe.com/business/2018/01/10/amazon-seeks-big-new-office-space-city/kMktDIWuDCg8ibG4Accc9H/amp.html

Based on the article there is still a chance. Since Amazon wants 8M sq. feet of office space.

Online taestell

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Re: Cincinnati: General Business & Economic News
« Reply #1801 on: January 12, 2018, 12:04:41 PM »
I don't think this is any indication that Amazon has picked Boston for HQ2. Boston has the tech talent that Amazon wants so they are expanding their software development shop there. However they may not want to add a large amount of back office staff in such an expensive city.

Online jmecklenborg

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Re: Cincinnati: General Business & Economic News
« Reply #1802 on: January 12, 2018, 12:29:11 PM »
Wal-Mart's HQ is in Bentonville, AK.  This is where their executives, lawyers, accountants, etc., work.  Their tech stuff is elsewhere. 

There is this idea out there that because Amazon started as a website that it's more "tech" than Wal-Mart, but at some point it won't be, if it isn't there already.  Wal-Mart's website isn't as big as Amazon's, but it is gigantic by any measure.  They also have all sorts of tech in their distribution centers. 

Online taestell

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Re: Cincinnati: General Business & Economic News
« Reply #1803 on: January 12, 2018, 01:14:52 PM »
That's true if you are comparing Walmart's retail website to Amazon's retail website. But that ignores the fact that Amazon also runs the AWS platform, which is probably the world's biggest web host. It is truly a massive operation and just about every web service you can think of runs on AWS.

Offline neilworms

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Re: Cincinnati: General Business & Economic News
« Reply #1804 on: January 12, 2018, 06:04:59 PM »
Wal-Mart's HQ is in Bentonville, AK.  This is where their executives, lawyers, accountants, etc., work.  Their tech stuff is elsewhere. 

There is this idea out there that because Amazon started as a website that it's more "tech" than Wal-Mart, but at some point it won't be, if it isn't there already.  Wal-Mart's website isn't as big as Amazon's, but it is gigantic by any measure.  They also have all sorts of tech in their distribution centers. 

Wal-Mart is discussed in MIS classes as being a benchmark for using tech in brick and mortor retail operations.  They have more tech than you may think....

Online GCrites80s

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Re: Cincinnati: General Business & Economic News
« Reply #1805 on: January 12, 2018, 09:07:56 PM »
When you're as obsessed with JIT as Wal-Mart is, you have to be. I'm obsessed with JIT as well since product demand is always so unpredictable. Unfortunately, the most I'm able to do with JIT is to try to call our distributors at the right time with the order that I think is the right size.


Offline subocincy

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Re: Cincinnati: General Business & Economic News
« Reply #1807 on: January 16, 2018, 06:40:45 AM »
https://www.cincinnati.com/story/news/2018/01/12/amazon-official-210-acres-added-part-cvg-air-hub/1030088001/
More than ever, this news verifies the fact that Amazon means business at CVG...and I do mean business.  Anyone with a crystal ball can predict just what a seismic change Amazon's entry into the airport will bring to the entire region.  Therefore, before it disappears into the stacks, I'd like to encourage everyone to review the article linked below:

https://www.lanereport.com/75668/2017/04/amazon-fulfills-kentuckys-goal-to-be-worlds-logistics-leader/

Even though this piece was published nearly a year ago, it covers the gamut when detailing the looming influence of Amazon in Kentucky and although it's one of the longest treatments ever published concerning the subject, it's certainly one of the most informative assessments ever penned defining the immense sea change headed our way.

Online Robuu

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Re: Cincinnati: General Business & Economic News
« Reply #1808 on: January 16, 2018, 09:50:09 AM »
^ Imagine what a greater impact this could have if KY repealed its "right-to-work" law.

Online jmecklenborg

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Re: Cincinnati: General Business & Economic News
« Reply #1809 on: January 16, 2018, 01:29:42 PM »
https://www.cincinnati.com/story/news/2018/01/12/amazon-official-210-acres-added-part-cvg-air-hub/1030088001/
More than ever, this news verifies the fact that Amazon means business at CVG...and I do mean business.  Anyone with a crystal ball can predict just what a seismic change Amazon's entry into the airport will bring to the entire region.  Therefore, before it disappears into the stacks, I'd like to encourage everyone to review the article linked below:

https://www.lanereport.com/75668/2017/04/amazon-fulfills-kentuckys-goal-to-be-worlds-logistics-leader/

Even though this piece was published nearly a year ago, it covers the gamut when detailing the looming influence of Amazon in Kentucky and although it's one of the longest treatments ever published concerning the subject, it's certainly one of the most informative assessments ever penned defining the immense sea change headed our way.

If you look at the 1,000 acres where this is planned, it is inevitable that landings and takeoffs on the center north/south runway will travel directly over this facility.  It could be pretty agrivating to work there if you are constantly hearing jets 100 overhead. 



Offline carnevalem

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Re: Cincinnati: General Business & Economic News
« Reply #1810 on: January 16, 2018, 02:25:40 PM »
Wall Street Journal ("Troubles Push GE to Consider a Breakup") reporting that GE is considering splitting its business segments into separate companies. If this were to happen and GE Aviation's headquarters stayed in Evendale, Cincinnati would gain another Fortune 100 company.

Offline subocincy

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Re: Cincinnati: General Business & Economic News
« Reply #1811 on: January 17, 2018, 12:04:36 PM »
Wall Street Journal ("Troubles Push GE to Consider a Breakup") reporting that GE is considering splitting its business segments into separate companies. If this were to happen and GE Aviation's headquarters stayed in Evendale, Cincinnati would gain another Fortune 100 company.
As of late in Cincinnati, whenever it rains, it pours...  Whether or not this may be said of other big US cities, I can't say, but locally the answer is a decided and unsettling yes.

(a) No sooner is Cincinnati rewarded a terrific business coup (GE to locate one of five global operation centers at the Banks!) than the city suffers a terrible business loss (Toyota North American headquarters to leave NKY for Texas);

(b) No sooner does Cincinnati hear that it's about to gain an impressive F500 company (Veritiv to become the city's 4th biggest public company!) than the city finds out just the opposite (Veritiv decides to move headquarters from Loveland to Atlanta);

(c) No sooner is Cincinnati relieved to know that Procter & Gamble has divested itself of one infamous activist investor (Bill Ackman has sold off his stock and moved on!) than the city is served notice that another, far worse "activist investor" will enter the company at the highest level (P&G allows Nelson Peltz to become a board member);

(d) No sooner does Cincinnati become delighted to hear that it may inherit a huge F500, and possibly F100 company (GE Aviation to be headquartered in Cincinnati?) than the city is dismayed to be told that a GE-breakup may adversely affect many people's fortunes at the Banks (GE Global Headquarters could be downsized or lost).

There's a great deal that could be added here, but why bother?  Just gather up the names of F500 companies that Cincinnati has either acquired, regained or hoped to gain - then throw them all in a hat.  (These are some of the names not mentioned and in no certain order:  Cintas/Kroger/Vantiv/Macy's/Ashland)  Now reach down into the hat, draw out just one of those names and predict what will happen next.       


Offline IAGuy39

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Re: Cincinnati: General Business & Economic News
« Reply #1812 on: January 17, 2018, 01:18:36 PM »
^I'm confused a bit on your post. 

Has Vantiv announced they are moving to Atlanta?  I haven't seen anything.

And nothing has been announced on the Banks yet, and do we know how many of those jobs are directly related to GE Aviation vs. other units?  It sounds like Aviation is staying as a GE company

Offline wjh2

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Re: Cincinnati: General Business & Economic News
« Reply #1813 on: January 17, 2018, 01:52:51 PM »
^I'm confused a bit on your post. 

Has Vantiv announced they are moving to Atlanta?  I haven't seen anything.

And nothing has been announced on the Banks yet, and do we know how many of those jobs are directly related to GE Aviation vs. other units?  It sounds like Aviation is staying as a GE company

Veritiv is different than Vantiv. Veritiv (a distribution company) did move to Atlanta in past year or two (but kept some operations in Loveland). But Vantiv (payment processor that was spun out of 5/3) just merged to become WorldPay and has its North American HQ in Mason (I believe) and international HQ in London.

Offline Dougal

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Re: Cincinnati: General Business & Economic News
« Reply #1814 on: January 17, 2018, 02:04:27 PM »
No sooner does Cincinnati ...

Well put.  It took Cleveland a long time (and a lot of short-sighted political leadership along the way) to figure out that growing local companies is more fruitful that trying to lure outsiders to relocate. That's why it's painful to see the young pups sell out at the first opportunity.  The next trick, when they don't sell out, becomes keeping them.  I *think* Cleveland is getting better at this lately.
There's nothing wrong with optimism, as long as you don't get your hopes up.

Offline IAGuy39

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Re: Cincinnati: General Business & Economic News
« Reply #1815 on: January 17, 2018, 02:17:38 PM »
^I'm confused a bit on your post. 

Has Vantiv announced they are moving to Atlanta?  I haven't seen anything.

And nothing has been announced on the Banks yet, and do we know how many of those jobs are directly related to GE Aviation vs. other units?  It sounds like Aviation is staying as a GE company

Veritiv is different than Vantiv. Veritiv (a distribution company) did move to Atlanta in past year or two (but kept some operations in Loveland). But Vantiv (payment processor that was spun out of 5/3) just merged to become WorldPay and has its North American HQ in Mason (I believe) and international HQ in London.

Ah, got you, I remember Veritiv well and was confused by the names as just in the last day Vantiv made that merger

Offline subocincy

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Re: Cincinnati: General Business & Economic News
« Reply #1816 on: January 17, 2018, 02:27:37 PM »
^I'm confused a bit on your post. 

Has Vantiv announced they are moving to Atlanta?  I haven't seen anything.

And nothing has been announced on the Banks yet, and do we know how many of those jobs are directly related to GE Aviation vs. other units?  It sounds like Aviation is staying as a GE company
Adding to the above response, I'd like to add that I understand anyone's confusion over Veritiv and Vantiv; they are entirely two separate companies.  Some two years ago the local press boldly announced that Veritiv would become Cincy's next public company, but the problem was that the company's decision making was split two ways.  Needless to say, it was a disheartening loss locally, including for me personally.  Even though Veritiv still maintains operations here, I no longer care about or follow what they do.

Next, GE @ the Banks - who knows what will happen next, but our prestigious global operation has already been crippled as an indirect result of Nelson Peltz's wreaking crew - need I say more?  Before the day's over, try to get a look the Enquirer's front page...just what we all needed to see.




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Offline IAGuy39

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Re: Cincinnati: General Business & Economic News
« Reply #1817 on: January 17, 2018, 03:03:47 PM »
I like to be a voice of reason a bit in regards to Cincinnati but I can't really be for a few things which are the streetcar, form-based codes, transport and bike lanes which our Mayor is clearly not a fan of any so pushes them off.  That said, there are a few things which are advantageous to Cincinnati business wise and I think fairly normal for a business cycle:

Companies will come and go, grow and merge and move into and out of.  I think overall though, you are seeing a good increase in jobs and the economy in the Cincy region, though it could be better of course.

I don't get too caught up on the above, if we lose Kroger and P&G, then I will be worried.

I'm not too worried about Peltz and P&G either.  If it wasn't him, it would be someone else or a new CEO that would push for changes.  I don't think Peltz is going to tell the board to scrap the HQ in Cincinnati and slash a ton of jobs.  They may sell off some units, some may stay in Cincy, some may go, but it won't be the end of the world.

Also, you are saying the global ops at the Banks is being crippled?  I haven't seen that yet.

I would just say, look at the big picture, know that good things are happening in the economy and hopefully we can start to get some better leadership in the city itself, and the rest will take care of itself.

I am much more concerned with matters like figuring out the streetcar, the bus levy, etc. right now than I am about business cycles.

Offline joshknut

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Re: Cincinnati: General Business & Economic News
« Reply #1818 on: January 17, 2018, 03:46:27 PM »
Can someone explain to me how much power Peltz has now that he is on the board? Everyone makes it seem like he has more sway or voting power and will take P&G out of Cincinnati. He's just one guy on the board right? What am I missing?


Offline neilworms

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Re: Cincinnati: General Business & Economic News
« Reply #1819 on: January 18, 2018, 10:40:29 AM »
As usual Cincinnati is terrible at leveraging its assets, continue to let Columbus walk all over you guys:

https://gizmodo.com/amazon-names-20-finalist-cities-for-hq2-thunderdome-1822189326

Online The_Cincinnati_Kid

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Re: Cincinnati: General Business & Economic News
« Reply #1820 on: January 18, 2018, 10:50:04 AM »
Cincinnati 2nd-fastest-growing Midwest city for high-tech jobs
By Tom Demeropolis  –  Senior Staff Reporter, Cincinnati Business Courier


A new report from a global commercial real estate firm says Cincinnati is one of the fastest-growing markets in the Midwest for high-tech jobs.

A report from CBRE Group Inc. says the Midwest has experienced “significant growth” in the high-tech industry. Five Midwest markets, including Indianapolis, Cincinnati, Chicago, Kansas City and Minneapolis/St. Paul, rank in the top 20 nationally for high-tech job growth in the past five years.

https://www.bizjournals.com/cincinnati/news/2018/01/18/cincinnati-2nd-fastest-growing-midwest-city-for.html

Online ryanlammi

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Re: Cincinnati: General Business & Economic News
« Reply #1821 on: January 18, 2018, 10:51:13 AM »
^^We were never getting it. Relax.

Online Stormy Daytons

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Re: Cincinnati: General Business & Economic News
« Reply #1822 on: January 18, 2018, 11:06:16 AM »
As usual Cincinnati is terrible at leveraging its assets, continue to let Columbus walk all over you guys:

https://gizmodo.com/amazon-names-20-finalist-cities-for-hq2-thunderdome-1822189326

Columbus isn't getting it either.  I don't see how this is "walking" over Cincinnati.  Both cities are doing fine, economically.
"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

Online GCrites80s

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Re: Cincinnati: General Business & Economic News
« Reply #1823 on: January 18, 2018, 11:11:25 AM »
^Picking 3 cities in the DC Metro shows their intentions to me. Especially since DC is such an important IT city.

Online jmecklenborg

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Re: Cincinnati: General Business & Economic News
« Reply #1824 on: January 18, 2018, 11:28:42 AM »
As usual Cincinnati is terrible at leveraging its assets, continue to let Columbus walk all over you guys:

All of those cities have higher taxes than Cincinnati.  Yet the Cincinnati Tea Party will continue to blame our supposed high taxes. 

Offline IAGuy39

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Re: Cincinnati: General Business & Economic News
« Reply #1825 on: January 18, 2018, 11:35:51 AM »
As usual Cincinnati is terrible at leveraging its assets, continue to let Columbus walk all over you guys:

https://gizmodo.com/amazon-names-20-finalist-cities-for-hq2-thunderdome-1822189326

Why do you come on here and say stuff like "you guys", when obviously you used to live here and are on this forum all the time?  We don't go on Chicago forums and talk ish then point it towards you like it's your fault or something?

I get you get frustrated and stuff but if you are so concerned about all this stuff that you try to make it our fault, you should just move back and make a difference.  Everyone is doing everything they can on here...

***And I'll add neilworms, I do enjoy your commentary and perspective, but don't direct your frustration out on us, just say something like, "dang, that's dissapointing, I wish Cincinnati had more urban and forward thinking leadership and realized and pushed their assets", instead of making it like it's our fault. You don't have to make it personal towards the people who are pushing and cheering for everything you are looking for in Cincinnati, too
« Last Edit: January 18, 2018, 11:54:57 AM by IAGuy39 »

Online taestell

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Re: Cincinnati: General Business & Economic News
« Reply #1826 on: January 18, 2018, 11:52:39 AM »
As usual Cincinnati is terrible at leveraging its assets, continue to let Columbus walk all over you guys:

All of those cities have higher taxes than Cincinnati.  Yet the Cincinnati Tea Party will continue to blame our supposed high taxes. 


Midwestern cities continue to brag about their "low cost of living," and yet, this is the latest example showing that what actually matters is the amenities that you provide your citizens. Amazon doesn't want to open a new HQ in a city that's cheap, they want to open it in a city that offers world class amenities so that they can attract the top employees.

Unfortunately, this mindset is not just limited to the Tea Party, it spans the whole political spectrum in cities like Cincinnati. When the Western Hills Viaduct funding was being debated in City Hall, Democrat P.G. Sittenfeld said, "I’m not ready to extract money from people who have made the ultimate of showing of commitment to the city of Cincinnati, the property owners." So, we're not even willing to raise taxes slightly to pay for the repair of our existing infrastructure ... let alone making the investments that we need to make to be competitive with the other cities in Amazon's short list.

Online ryanlammi

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Re: Cincinnati: General Business & Economic News
« Reply #1827 on: January 18, 2018, 11:58:07 AM »
Amazon doesn't care at all about the cost of living, because as soon as they announce their new HQ, home prices will skyrocket in a small-to-medium sized city. The only exception to this rule is cities like San Francisco where there is such a huge housing shortage that they wouldn't want to try to bring 40,000 employees to the city.

Bigger cities will be affected, but not nearly to the same degree.

Offline IAGuy39

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Re: Cincinnati: General Business & Economic News
« Reply #1828 on: January 18, 2018, 11:58:19 AM »
^Travis, I agree with everything you say.  Especially on the political one, is it the personal opinion of P.G. Sittenfeld outside of politics that he doesn't want to do that, or is it the politics?  Is PG aware of what is going on in other cities and what needs to happen here and just playing politics?  I think that has a lot to do with it.

How do you get elected to this city without doing everything the business interests want you to do?  That is what is going to make a difference in Cincinnati, or that of CEO's of major corporations making their opinion known on what's important.


Online GCrites80s

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Re: Cincinnati: General Business & Economic News
« Reply #1829 on: January 18, 2018, 12:00:19 PM »
Columbus is NOT a low tax city. High property taxes, high sales taxes, high earnings taxes. We also have state income taxes.