GM says open to moving from Detroit headquarters

[Gistok]

GM employees paying an income tax to Detroit versus GM employees NOT paying an income tax to Warren.... how does that help GM out of its' current mess?

It doesn't...

So I won't be losing any sleep over that issue.

I don't think that the feds are going to force GM to move either... our US senators will fight that one...

Since GM already paid $1/2 billion to fix up the RenCen for their needs, how would the added expense of a move to the Tech Center be viewed as improving their bottom line?

They would have to spend many millions more in order to move to the Tech Center.

Warren mayor Fouts [[someone who I always likened to a "Monica Conyers of Warren" when he used to be on their city council) can only offer local tax breaks.

THERE'S NO WAY that the state will offer any tax breaks for them to move.

And Warren, whos seedy south side requires all the help it can get, isn't exactly awash in cash...

[R8RBOB]

Since GM already paid $1/2 billion to fix up the RenCen for their needs, how would the added expense of a move to the Tech Center be viewed as improving their bottom line?

To anyone who lives in a nice neighborhood in the city or suburbs, have you ever wondered why people who own houses in bad neighborhoods remain in those bad neighborhoods?

The same reason why GM won't leave Detroit for Warren. 500,000,000 dollars that's why. No way General Motors is going to leave the Ren Cen for the Tech Center because they know they can't get back the 1/2 billion they put into the Renaissance Center. If there were someone out there ready to give them a billions for the riverfront headquarters, they would be in Warren the next day but not in this market. So, back to my comment, you don't walk away from your property that you have spent dollar after dollar to maintain it unless you have someone ready to buy it and GM have no one ready to pay up.

To the person who says: Better to keep the auto show in Novi than have it move to Chicago, I say read your statement again. You are comparing Novi to Chicago. An alpha city to a suburb. Yeah.....

[detmsp]

No way General Motors is going to leave the Ren Cen for the Tech Center because they know they can't get back the 1/2 billion they put into the Renaissance Center.

Yes and staying in the RenCen won't get them back the 1/2 billion either. It's called a sunk cost in economics. The amount GM paid for the Ren Cen will play absolutely no role in GM's decision to move or not. It would be absurd if it did.