Greatbatch Moving

[leftWNYbecauseofBS]

Most likely Wilson Greatbatch was the reason the company stayed here. My guess? Company stock has been hovering at 20. Primary shareholders say, "Hey, we're not making enough money, let's go get more and incidentally, screw everyone else who has committed their lives, etc. to the success of the company." Yep, gotta love that short-term American business outlook. Fact of the matter is that if I were a company, I'd just shop around for tax breaks and then go back to my home state and say, "Hey, look what they're willing to give us here! Better keep that 'incentive' coming, or we'll leave (anyone remember Verizon?)" These businesses aren't stupid and they know how to game the localities off of each other. How much did we spend at American Axle before they folded? $60M? Yep, keep it coming there...

Typical. Blame it on the company. After all, without the hustle on local companies who is going to fund your pathetic school system.

Why should a company pay twice as much to operate? Why should a company face twice as many regulations? Greatbatch has been outstanding for the local region for years yet they were abused with taxes and regulations. Of course they should leave.

[Dougles]

Most likely Wilson Greatbatch was the reason the company stayed here. My guess? Company stock has been hovering at 20. Primary shareholders say, "Hey, we're not making enough money, let's go get more and incidentally, screw everyone else who has committed their lives, etc. to the success of the company." Yep, gotta love that short-term American business outlook. Fact of the matter is that if I were a company, I'd just shop around for tax breaks and then go back to my home state and say, "Hey, look what they're willing to give us here! Better keep that 'incentive' coming, or we'll leave (anyone remember Verizon?)" These businesses aren't stupid and they know how to game the localities off of each other. How much did we spend at American Axle before they folded? $60M? Yep, keep it coming there...

Or you can read the piece in the BN and find out the real reasons. Dallas has a Medical Campus that makes our look like a joke.

[300miles]

What is ours missing - internationally known inventors & manufacturers like Greatbatch? I'm not slamming the company, but I'm curious if Greatbatch was ever approached to become more involved with the Buffalo medical campus, and if they were just not interested. The Buffalo Campus has only been in existence for a few years so it obviously won't be on par with more established ones in bigger cities. But having a well-known local company like Greatbatch in WNY (it's not like there are tons of others...) and not be associated with the campus seems like either someone dropped the ball or the company just didn't want a part of it.

[leftWNYbecauseofBS]

What is ours missing - internationally known inventors & manufacturers like Greatbatch? I'm not slamming the company, but I'm curious if Greatbatch was ever approached to become more involved with the Buffalo medical campus, and if they were just not interested. The Buffalo Campus has only been in existence for a few years so it obviously won't be on par with more established ones in bigger cities. But having a well-known local company like Greatbatch in WNY (it's not like there are tons of others...) and not be associated with the campus seems like either someone dropped the ball or the company just didn't want a part of it.

The Dallas region is home to a thriving medical device community, whereas, the Buffalo Campus is more life sciences. I am not a medical expert but I think they are different.

At the end of the day...I think the synergy is just a PR point. I really think it comes down to economics.

[Frank Broughton]

Yep. We only have nys/local "governments" to blame.....

... and those who vote on the d line by nature no matter who is on it.

[Frank Broughton]

How much did we spend at American Axle before they folded? $60M? Yep, keep it coming there...

Spend?? Since when is a cut a spend? Oh, if one is a democrat it is... no?

[therising]

I've heard people say that they've opened offices in certain cities (such as Dallas and Houston actually) just for the panache factor.

When you're trying to business with worldwide companies, I guess there's a quite a bit more prestige to say you're headquartered in Dallas than Buffalo. Hopefully, that's all this is. But, I dunno.........

[WNYresident]

Most likely Wilson Greatbatch was the reason the company stayed here. My guess? Company stock has been hovering at 20. Primary shareholders say, "Hey, we're not making enough money, let's go get more and incidentally, screw everyone else who has committed their lives, etc. to the success of the company." Yep, gotta love that short-term American business outlook. Fact of the matter is that if I were a company, I'd just shop around for tax breaks and then go back to my home state and say, "Hey, look what they're willing to give us here! Better keep that 'incentive' coming, or we'll leave (anyone remember Verizon?)" These businesses aren't stupid and they know how to game the localities off of each other. How much did we spend at American Axle before they folded? $60M? Yep, keep it coming there...

Sounds like the same mentality when we hear government unions saying ""Hey, we're not making enough money, we want raises and incidentally, screw everyone else who's taxes will increase whether they can afford the increase or not."


See how that works?

[Genoobie]

@Lefty,

By this reasoning, all US operations should cease to exist and move elsewhere. There are plenty of third world countries where they could set up for cheap with probably low tax rates and do great things for those countries. Personally, I am going to be sure to teach my kids multiple languages for future job prospects...

[300miles]

I've heard people say that they've opened offices in certain cities (such as Dallas and Houston actually) just for the panache factor.

When you're trying to business with worldwide companies, I guess there's a quite a bit more prestige to say you're headquartered in Dallas than Buffalo.

The Dallas region is home to a thriving medical device community, whereas, the Buffalo Campus is more life sciences. I am not a medical expert but I think they are different.

good points

[leftWNYbecauseofBS]

@Lefty,

By this reasoning, all US operations should cease to exist and move elsewhere. There are plenty of third world countries where they could set up for cheap with probably low tax rates and do great things for those countries. Personally, I am going to be sure to teach my kids multiple languages for future job prospects...

Wrong. It's about margins.

While people like you talk about the extremes ...that is just ignorant. The next step from NYS is not China..although 'union speak' likes to paint that picture. The reality of the situation is NYS is not business friendly compared to many other states in the Union.

The reason why people like you run to 3rd world countries is you know the rules and opportunity is different. The reason why you refuse to compare NYS to Texas is there is an opportunity to create a similar environment but know full well that doing so would mean hard choices to be made.

Trying to paint a company as "screwing over" folks by moving is also pathetic. Saying they are greedy is also unwarranted. In fact, it's NYS that is greedy. They want to take too much from companies and executives because they feel as if they can. Well this is the reaction to that action.

[WNYresident]

The Dallas region is home to a thriving medical device community, whereas, the Buffalo Campus is more life sciences. I am not a medical expert but I think they are different.

At the end of the day...I think the synergy is just a PR point. I really think it comes down to economics.

http://en.wikipedia.org/wiki/Life_sciences

The life sciences comprise the fields of science that involve the scientific study of living organisms, like plants, animals, and human beings, as well as related considerations like bioethics. While biology remains the centerpiece of the life sciences, technological advances in molecular biology and biotechnology have led to a burgeoning of specializations and new, often interdisciplinary, fields.

So no actaul medical products are invented or produced at the buffalo campus?

[Genoobie]

I wasn't actually talking about China, but fine. Right, margins. Bigger margins for primary shareholders. That's why four CEOs are moving to headquarters. Listen, I'll be the first to agree that there's waste. However, waste is not something unique to any particular business or sector. I have no idea about the company's financial portrait. There are people from Texas who say the economic picture is not so rosy there.

http://www.city-data.com/forum/buffa...l#post22642256

Could NY be more competitive and business friendly? Sure. Is there waste in NY? Sure. Are companies greedy for more dough? Sure. Are they in business to make more money to pay primary shareholders? Sure. What percentage of Greatbatch is owned by the assembly employees versus the CEOs? Hmm? To say that businesses are moving because they are not "greedy" is absurd. Margins? Call it whatever you like, it's greed. They've got a 5 year annual growth rate of 16%. Seems like they are doing alright to me (especially given the past 5 years). Their financials seem pretty decent. But yep, it's about taxes and not being biz friendly...um hmm..

[Frank Broughton]

Sounds like the same mentality when we hear government unions saying ""Hey, we're not making enough money, we want raises and incidentally, screw everyone else who's taxes will increase whether they can afford the increase or not."


See how that works?

Yes, very well said!!!! and sooooooooo true...

[Save Us]

Companies should be forced to stay here and pay their fair share of taxes!! I think NY should erect a wall with razor wire to keep them in!!