Salt Lake:Official development news thread - Part 2

[TonyAnderson]

Originally Posted by RFPCME

I thought it might be fun to speculate about which GA-based company might be considering a major expansion in SLC. Here is a list of the GA companies in the Fortune Top 1000 List, along with my thoughts (whatever they're worth) about the possibility of that being the company taking up 24 floors of a highrise:

Fortune magazine compiles its list of the biggest and best businesses based on 2008 fiscal and calendar year financial performance, focusing on revenue.

• The Home Depot Inc. (NYSE: HD) dropped from 22 to 25 on the list, but remains Georgia’s highest ranked company. Fortune magazine noted CEO Frank Blake “has refocused the home-improvement chain on its core retail business, closing 15 underperforming U.S. locations in 2008, and halting plans for 50 new stores.” Home Depot also shuttered its Expo chain and specialty outlets. Painful changes, yet they're paying off,” Fortune noted. “Home Depot won't come roaring back until the housing market does, but the effect on sales (and HD's share price) then could be substantial.”

Home Depot had $71.3 billion in revenue in 2008.

DOESN'T MAKE ANY SENSE. WHY WOULD A RETAILER MOVE TO THE MOUNTAIN WEST, FAR AWAY FROM MAJOR MARKETS AND SUPPLIERS.

• Moving up from 46 to 43 is United Parcel Service Inc. (NYSE: UPS), which “suffered in 2008 as a drop in consumer spending hurt shipping volumes everywhere,” Fortune noted. “... In order to deal with the slowdown, the company has cut or reduced some operations, frozen executive salaries and is suspending its 401(k) match.”

UPS pulled in $51.5 billion in revenue last year.

A POSSIBILITY...FEDEX OPERATES WELL OUT OF MEMPHIS.

• Beverage giant The Coca-Cola Co. (NYSE: KO) climbed 10 spots to No. 73, with $31.9 billion in revenue.

NO CHANCE. COCA-COLA IS AS MUCH PART OF GA AS MARGARET MITCHELL. PLUS COKE WOULD NEED MUCH MORE SPACE THAN 24 FLOORS.

• Coca-Cola Enterprises Inc. (NYSE: CCE) had $21.8 billion in revenue for 2008, helping it move up two spots to 118 on the Fortune 500 list.

NO CHANCE. SAME ARGUMENT AS ABOVE.

• Delta Air Lines Inc. (NYSE: DAL) landed at 111, up from 129. Its revenue grew in 2008 to $22.7 billion.

NO CHANCE. DELTA CANNOT AFFORD TO MOVE ACROSS THE STREET, LET ALONE 1,200 MILES. DOES NOT NEED EXPENSIVE HIGH-RISE SPACE EITHER.

• Southern Co. (NYSE: SO) jumped to 149 from 166, posting $17.1 billion in revenue.

NO CHANCE. LOCAL POWER COMPANY.

• Columbus, Ga.-based insurer Aflac Inc. (NYSE: AFL) improved to 152 from 165. It had $16.6 billion in revenue.

NOT SURE ABOUT THIS ONE. MAKES SOME SENSE. COLUMBUS IS PRETTY ISOLATED, OVER A 100 MILES SOUTHWEST OF ATLANTA. BUT WONDER ABOUT A FINANCIAL COMPANY BEING SO FAR REMOVED FROM WALL STREET.

• SunTrust Banks Inc. (NYSE: STI) weathered a tough year last year and dropped to 211 with $12.8 billion in revenue. The bank holding and financial services company placed 193 last year.

NO CHANCE. IT WOULD BE LIKE ZIONS BK CORP MOVING TO ATLANTA.

• Genuine Parts Co. (NYSE: GPC) lost four spots to get No. 243 on the list with $11 billion in revenue.

MAYBE. THIS IS THE HOLDING COMPANY FOR NAPA AND OTHER PARTS COMPANIES. PEOPLE ARE HOLDING ON TO CARS LONGER. THIS COMPANY IS AN INTERESTING POSSIBILITY.

• AGCO Corp. (NYSE: AG) generated $8.4 billion in revenue and made a big improvement to a ranking of 306. The Duluth, Ga.-based agricultural equipment maker garnered a ranking of 359 in the 2008 list.

THERE IS NOT ENOUGH AGRICULTURE IN THE ENTIRE WEST TO MAKE THIS MOVE MAKE SENSE.

• Calhoun, Ga.-based flooring products company Mohawk Industries Inc. (NYSE: MHK) placed 367 with $6.8 billion in revenue. It was at 328 in the 2008 list.

NO CHANCE. WHY WOULD A FLOORING COMPANY MOVE SO FAR AWAY FROM ITS SUPPLIERS AND MAJOR MARKETS.

• Consumer products company Newell Rubbermaid Inc. (NYSE: NWL) is ranked 387 with $6.5 billion in revenue. It was 378 last year.

NOT SURE IF A RETAIL PRODUCTS MANUFACTURER MAKES SENSE IN UTAH.

• Making its first appearance as a Georgia company is Asbury Automotive Group (NYSE: ABG). In the 2008 list, it was based in New York and ranked 421. It moved headquarters to Atlanta and is now ranked 486 with $4.8 billion in revenue.

NO CHANCE. ASBURY IS THE MUCH LARGER VERSION OF THE LARRY H. MILLER GROUP.

Sixteen other Georgia-based companies (with rankings) made the Fortune 1000: Graphic Packaging Corp. (NYSE: GPK) at 547; Exide Technologies (NASDAQ: XIDE) at 585; Mirant Corp. (NYSE: MIR) at 660; Georgia Gulf Corp. (NYSE: GGC) at 703; Rock-Tenn Co. (NYSE: RKT) at 711; AGL Resources Inc. (NYSE: ATG) at 717; BlueLinx Holdings Inc. (NYSE: BXC) at 722; Spectrum Brands Inc. (NYSE: SPC) at 736; Flowers Foods Inc. (NYSE: FLO) at 799; Synovus (NYSE: SNV) at 823; Acuity Brands Inc. (NYSE: AYI) at 869; Beazer Homes USA Inc. (NYSE: BZH) at 883; TSYS (NYSE: TSS) at 913; Equifax Inc. (NYSE: EFX) at 915; Mueller Water Products Inc. (NYSE: WMA) at 945; and Wendy’s/Arby’s Group Inc. (NYSE: WEN) at 957.

AMONG ALL THESE 16 OTHER COMPANIES, TWO STICK OUT: EQUIFAX AND SYNOVUS. I AM GOING TO RULE OUT SYNOVUS BECAUSE THEY ARE A REGIONAL FINANCIAL SERVICES COMPANY WHO IS NOT IN PARTICULARLY GREAT SHAPE. EQUIFAX IS VERY INTERESTING, HOWEVER. I KNOW THEY ARE A CREDIT REPORTING COMPANY, BUT A MOVE TO SLC MIGHT MAKE SENSE. IF I HAD TO BET, I THINK I'D CHOOSE EQUIFAX.

Well Green Bro said they were moving to have a better presence in the west. That wouldn't make sense to me for a place like Equifax, but who knows. He also said that the Atlanta Airport was an important part of their business (to some degree). Also, you're ignoring private companies by using that list aren't you?

[TonyAnderson]

Originally Posted by wrendog

I'm still voting for Chik-fil-A!

I'm not voting for it, but so far it seems the most reasonable to me. That's not saying much though

[delts145]

Salt Lake City makes perfect sense to me as a 'Western Regional Headquarters.' If they already have an international headquarters in Atlanta, then I'm not sure we're really talking about anyone completely pulling up stakes in Atlanta, and re-establishing their international headquarters in SLC. I wouldn't be surprised if this is simply another major company setting shop up in Salt Lake City in order to serve the Western half of No. America. The fact that they want to establish a high rise downtown, instead of a sprawling complex in the burbs is what will differentiate this company, and hopefully set up a new trend for SLC.

[delts145]

60% back public-safety bond

http://www.deseretnews.com/article/705341201/60-back-public-safety-bond.html

...A new Desert News/KSL-TV poll shows 60 percent of Salt Lakers would vote in favor of Proposition 1, which would pay for a new public-safety complex. Twenty-nine percent of the 415 people surveyed by Dan Jones & Associates last week said they would not support the bond.


The Salt Lake City Public Safety building on 200 South was built in 1957. (Mike Terry, Deseret News)

.

[Green Bro]

Originally Posted by delts145

Salt Lake City makes perfect sense to me as a 'Western Regional Headquarters.' If they already have an international headquarters in Atlanta, then I'm not sure we're really talking about anyone completely pulling up stakes in Atlanta, and re-establishing their international headquarters in SLC. I wouldn't be surprised if this is simply another major company setting shop up in Salt Lake City in order to serve the Western half of No. America. The fact that they want to establish a high rise downtown, instead of a sprawling complex in the burbs is what will differentiate this company, and hopefully set up a new trend for SLC.

Stop guessing!!!

All ya'll are retards and like Hellen Kellen!!!

"akjd lasdf sf08 sflks a asdm, adlaskd . ASsdfA IJ sflal!" -- Hellen Keller, (her most famous quote)

[urbanboy]

Originally Posted by delts145

...The fact that they want to establish a high rise downtown, instead of a sprawling complex in the burbs is what will differentiate this company, and hopefully set up a new trend for SLC.

I sure hope so too delts!

[esirhgih]

Originally Posted by wrendog

I'm still voting for Chik-fil-A!

Chick-fil-a's current headquarters in the suburbs of Atlanta:



I can't imagine them needing highrise in Salt Lake that would be larger than their actual headquarters. Also, even if they do want to expand their restaurant presence in the west, they wouldn't need a great deal of office space to do that. Most of the management functions could easily be handled in Atlanta.

That and it would be kind of lame to have a new tallest called "Chick-fil-A Tower"

[jedikermit]

Originally Posted by esirhgih

That and it would be kind of lame to have a new tallest called "Chick-fil-A Tower"

Lame but awesome, no?

Okay, no.

[delts145]

How about a future sponser for an NFL stadium downtown? The Chick-fil-A Stadium.

[jedikermit]

That sounds no more stupid to me than the Staples Center in LA, (or the Energy Solutions Arena), so I'd go for that.

[shakman]

Originally Posted by jedikermit

That sounds no more stupid to me than the Staples Center in LA, (or the Energy Solutions Arena), so I'd go for that.

Even worse - Quicken Loans Arena (Cleveland, OH)

[TonyAnderson]

Originally Posted by esirhgih

Chick-fil-a's current headquarters in the suburbs of Atlanta:



I can't imagine them needing highrise in Salt Lake that would be larger than their actual headquarters. Also, even if they do want to expand their restaurant presence in the west, they wouldn't need a great deal of office space to do that. Most of the management functions could easily be handled in Atlanta.

That and it would be kind of lame to have a new tallest called "Chick-fil-A Tower"

I hadn't seen their headquarters until this. That's a good point. How about the Chick Tower?

[i-215]

Another potential corporate headquarters ...

[Neuroguy]

Originally Posted by i-215

Another potential corporate headquarters ...

Now that's funny! could we get it so it changed colors with the seasons?

[Sight-Seer]

If the current public safety building is such a piece of junk, why don't they tear it down and build a new on on that spot?

[RFPCME]

I know speculating about what GA-based company may be planning an expansion in downtown SLC is like buying a lottery ticket and expecting to win. But the speculation provides a lens to look at what SLC, especially downtown, has to offer in today's particularly difficult business environment. Besides it's fun.

The more I think about it, the more I hone in on Equifax. Here's why:

Financial services companies need prominent addresses. In that industry, it's all about trust--you must always convey an image of stability and strength. Downtown addresses, in prominent high-rises, are important. Although a company may be shaky (like Bear Sterns, Lehman Brothers, et cetera), if the building is tall and in an exclusive zip code, people will still put money into them.

Financial services companies also need armies of well-educated, low-cost workers, which pretty well describes a large portion of the workforce in SLC. Yes, people do make gillions of dollars on Wall Street, but these are people in the sales end of the business, not those processing all the transactions or contributing to the business in other ways, such as credit reporting agencies, like Equifax.

SLC is also a politically conservative environment, which is a big plus in the financial sector. Money companies do not want regulation nor scrutiny. You are not going to see a lot either in SLC (at least from the state and local levels) any time in the foreseeable future.

For all these reasons, I have wondered why more financial services companies have not jumped on the SLC bandwagon. Fidelity did it in the early 80's, and I have often thought more would follow. Salt Lake has basically the same environment as Charlotte NC. Of course, Charlotte is a mess now, but it will come back.

So my bet is Equifax, not Chick-fil-A...I don't think Chick-fil-A has enough business outside of Atlanta to warrant the $100M-plus investment that 24 floors of a 32-story high-rise would require. Although I like their billboards, I'm not that crazy about chicken sandwiches.

[TonyAnderson]

Originally Posted by RFPCME;4535939 [B

Although I like their billboards, I'm not that crazy about chicken sandwiches.[/B]

That's why they're coming here - They're going change yours, and western America's, mindset.

Honestly though, I'd be surprised if it was Chic-fil-A. Like you said, it's a crapshoot trying to figure this out . Though once I looked into it a little more there were some things that caught my interest. If we take what Green Bro said to be true, that the company is coming to Salt Lake to add a greater western presence, and that they use the airport heavily for what they do, then I think Equifax is out of the question. It sounds like the company has some sort of tangible products and I think the presence thing wouldn't matter with a financial company like Equifax. It's interesting to note Chic-Fil-A has expanded to all states except some of the far west ones right around Utah including Nevada, Idaho, Oregon, Washington, Montana, and the Dakotas. Maybe that business park type headquarters isn't doing it for them and they want something more prominent. Judging from the heavy ad campaign and billboards (One of those billboards is on 1-15 just south of Salt Lake City by the way), they seem to be putting a lot of money into getting their name out there and maybe plan on some heavy corporate expansion as the recession fades. Maybe they feel they've got the southern market and it's time for the west. Maybe everyone in the south wants Popeyes and KFC and they're trying to appeal to a healthier crowd But then again, maybe, just maybe, I'm over thinking this.

[East2Westback]

Originally Posted by TonyAnderson

That's why they're coming here - They're going change yours, and western America's, mindset.

Honestly though, I'd be surprised if it was Chic-fil-A. Like you said, it's a crapshoot trying to figure this out . Though once I looked into it a little more there were some things that caught my interest. If we take what Green Bro said to be true, that the company is coming to Salt Lake to add a greater western presence, and that they use the airport heavily for what they do, then I think Equifax is out of the question. It sounds like the company has some sort of tangible products and I think the presence thing wouldn't matter with a financial company like Equifax. It's interesting to note Chic-Fil-A has expanded to all states except some of the far west ones right around Utah including Nevada, Idaho, Oregon, Washington, Montana, and the Dakotas. Maybe that business park type headquarters isn't doing it for them and they want something more prominent. Judging from the heavy ad campaign and billboards (One of those billboards is on 1-15 just south of Salt Lake City by the way), they seem to be putting a lot of money into getting their name out there and maybe plan on some heavy corporate expansion as the recession fades. Maybe they feel they've got the southern market and it's time for the west. Maybe everyone in the south wants Popeyes and KFC and they're trying to appeal to a healthier crowd But then again, maybe, just maybe, I'm over thinking this.

Would it be a surprise to anyone if there is not a company that wants to relocate from Atlanta?

I am not saying that there is or is not a company. However, I am really amazed that the concept of an Atlanta company coming was even announced. Who actually was in a position to know this? I cannot remember the page which broke this subject.

Usually an announcement of such an event is really specific about all aspects.

[wrendog]

Originally Posted by East2Westback

Would it be a surprise to anyone if there is not a company that wants to relocate from Atlanta?

I am not saying that there is or is not a company. However, I am really amazed that the concept of an Atlanta company coming was even announced. Who actually was in a position to know this? I cannot remember the page which broke this subject.

Usually an announcement of such an event is really specific about all aspects.

It wouldn't shock me at all if this were false, but it doesn't change the fact that it's fun to speculate about. Green Bro has been the source and he claims first hand knowledge. He SOUNDS legit, but as a lifelong pessimist, I'll believe it when I see it.

[Orlando]

I believe I have already heard this news, but I'm posting this latest info about the construction/design team that was chosen for the new Broadway Theater to be built on Main Street.

http://findarticles.com/p/articles/mi_qa5279/is_20091019/ai_n39392725/?tag=content;col1