When it comes to spending their own god damned money, well, that's different!
The parent company of the Boston Globe applied for and received a $1.3 million tax break, spread over 10 years, from the city of Taunton as it plans to ramp up employment there to more than 600 people in the coming months.Methinks the town got the wrong end of the bargain here - how many readers think the dying newspaper industry is a robust creator of jobs? The only explanations I see are these - the town got suckered or there's another deal / angle that's not being disclosed.
Kevin Shea, executive director of Taunton’s Economic and Community Development, told the Business Journal that Algonquin Management Holdings LLC, a Boca Raton, Florida-based parent company of Boston Globe Media Partners LLC, was granted the tax incentive in exchange for the promise to create jobs in the area. Algonquin is headed by Red Sox owner John Henry, owner of Boston Globe Media.
Either way, it's always nice to start your day with a good laugh!
Hat tip to reader Walter R.