The City of San Antonio and Bexar County have formally withdrawn a proposal asking Amazon to build its second headquarters in San Antonio.
Amazon said it prefers communities "that think big and creatively when considering locations and real estate options" and would like a "development-prepped site".
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What Nirenberg says the city and county won't do is play into a bidding war. They point to the $3 billion that Wisconsin recently dished out in incentives to lure Taiwan's Foxconn as an example.
The letter comes one month after Bezos announced that Amazon was exploring locations for its second headquarters, which he has dubbed "HQ2". Birmingham installed three giant Amazon boxes on its downtown sidewalks. The mayor and judge say they're still open to Amazon coming here but suggest Amazon may already have a city in mind. However, its hard to blame them for such aggressive wooing - especially since Bezos is promising 50,000 jobs with an average salary of $100,000 on his new campus. But, as both Nirenberg and Wolff write, that massive economic win isn't worth the fight to win Bezos' affection.
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The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings. The Magic Formula was introduced in a book written by Joel Greenblatt, entitled, "The Little Book that Beats the Market".
"Blindly giving away the farm isn't our style... no metropolitan area meets all of the criteria in your RFP [request for proposal]". Plus, they and other city leaders believe he's already made his pick. "If they choose to be in our city, it's going to be because of all the attributes that make us the city of the future - America's 21st century city - not because we put a couple of zeroes of tax payer dollars in front of them", Nirenberg adds.
"We want another place where we can also grow", Wilke told the Geekwire Summit.
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