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BN Move to Fort Worth
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<P mce_keep="true">[quote user="Bob-Fryml"] <P><FONT face="courier new,courier">If I recall correctly, <EM>Trains</EM> Magazine, <EM>Railway Age</EM>, and/or <EM>The Wall</EM> <EM>Street Journal</EM> wrote that TAXES had everything to do with the Burlington Northern, Inc. move from St. Paul to Seattle. And it wasn't just taxes on company owned real estate, inventories, and corporate income taxes, it was the high personal income tax rates being assessed on employees. The Minnesota state government thought B.N.I. was bluffing when they sought tax relief, and so the <U>elected</U> <U>clowns</U> in St. Paul called their bluff. Well B.N.I. wasn't bluffing, and subsequently jumped telling the Minnesota state government to bow-up and kiss-off. B.N.I and the railroad subsequently moved headquarters to Seattle.</FONT></P> <P><FONT face="courier new,courier">When Union Pacific Corporation Chairman Drew Lewis retired, his successor moved the Corporation's headquarters to Dallas, Texas around 1997. Dallas, you see, is like Seattle - two cities situated in jurisdictions that share the same state income tax rate: <STRONG>ZERO</STRONG> percent. The 1997-1998 collapse in railroad service required the full time attention of Chairman R.K. Davidson at the Railroad's headquarters in Omaha. Eventually the Corporation's headquarters were moved to Omaha.</FONT></P> <P><FONT face="Courier New">Many years ago the greedy New York state government was going after executives who earned retirement credits while working in New York, but who subsequently retired in state-income-tax-free Florida. As I recall, the business press reported that the legislature was having a certain amount of success in collecting state income taxes from those retirees so situated. Today, I don't know if that practice continues or if the United States Congrees corrected the situation. </FONT> <FONT face="courier new,courier"> </FONT></P> <P>[/quote]</P> <P>Peachey. On a contrasting note, I definitely recall Northwest Airlines getting a sweetheart deal, something to the tune of $800 million in tax breaks and state funding/loans, to build an aircraft repair facility up in Duluth, and what came out of it? Diddly squat - that's what. It was that tax-and-spend fruitcake Jim Oberstar who had a big hand in orchestrating the whole fiasco, and from what I understand we still haven't got a lot of that money back. Yet BN was allowed to pull-out. </P>
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