Saturday, April 16, 2016

Sale of Convenience Stores...Was Fight for $15 a Factor ?

    A local family that had built a network of convenience stores and had been planning more has sold it's 18 store chain to Sunoco.  The Valentine's are well known locally and an industry trade paper speculates New York's move to $15 an hour may have prompted them to get out of retail.
    Or maybe they just had an opportunity to cash out on their hard work and live well.
     Recently the Valentine's had pulled back on plans to expand further.
http://www.cspnet.com/mergers-acquisition-growth/mergers-acquisitions-news/articles/sunoco-valentine-be-mine

10 comments:

Anonymous said...

But it was OK to get low-cost loans to build the stores? But when it comes time to pay the folks who got you there........No way, well at least they got the mansion done...

Anonymous said...

Why didn't they cash out in 2015 or 2014 or 2013?
The timing might be a coincidence, or it might not be.

Anonymous said...

7:46 AM, quit lying. They had no financial help from taxpayers. But to fuel your jealousy, there were only 2 companies in Jefferson County that paid in more sales tax then they did, WalMart and Lowes. And at least 5 of their stores aren't even in Jefferson County...
Now go catch the bus so you're not late for the Sanders rally!

Anonymous said...

@7:46, I know several people who have worked in their office for years and make pretty good money. I also know some vendors and contractors who make a pretty good living off them. And paying kids $15 an hour to text all day is ridiculous...

Anonymous said...

$15.00/hr had nothing to do w/their decision to sell.

Anonymous said...

How can anyone think this isn't related to $15.00/hr? They cancel a new store that was just ready to break ground blaming $15.00/hr then sell off months later. Hope everyone enjoys shipping their money out of state to the big guys now. Hopefully they keep gas prices in check instead of charging an extra 20 cents a gallon in the outskirts like they do in Clayton.

Anonymous said...

When you can think objectively it is quite easy 930.

Anonymous said...

To all the folks who say they never had any help from the Alphabet agencies.....You're wrong WLDC has helped them, a water line was run from the COW limits to their store on Bradley St.(No water district was created, Hey the new car dealership could have used water) training of employees?

Anonymous said...

8:14, there are several lots for sale on Factory Street. Would you like the number for WLDC?

Anonymous said...

No the first store received enough help....