Instapundit links to this Wall Street Journal articlehttps://www.wsj.com/articles/the-government-may-want-to-buy-your-dying-mall-1536663601 about how local governments are buying up dying malls. Let's see: the private sector cannot make these things work, so those highly efficient and market— savvy governments are going to go head to head with Amazon and win.
It may not be what you think. Here in Arlington Texas there is a dead mall called the Six Flags Mall. Plans have been underway for a couple of years to bulldoze the place and then build an expansion to the GM car plant on the other side of the interstate to the Mall. The GM plant is the big job maker for the next decade, well beyond the expansion of the entertainment district near AT&T stadium.
ReplyDeleteReal jobs, not the fake ones from Toyota who not only moved the job from california, but the employee who previously was doing it, and the employees spouse who now had to find a new job in the Dallas Fort Worth area.
I can't afford a subscription so can only see a snippet. What are they doing with them? Being retail landlords? I oppose that. I might support using them for offices, etc for the government like ID is doing with (or will be) with the Boi hp site. Of course the loss of the sales tax is a big factor too.
ReplyDeleteIt would be highly educational, I think, to see whose investment is being paid off with this dubious use of public money. As always, follow the money!
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