Thursday, June 23, 2016

WDT: Sunoco finalizes $76.4 million deal for Valentine shops, gas stations

        Congrats to the Valentine's who came out of Chaumont, worked hard and now are able to cash out on their chain of convenience stores.  Success is something to be admired.
Watertown Daily Times | Sunoco finalizes $76.4 million deal for Valentine shops, gas stations

11 comments:

Anonymous said...

What does the minimum wage have to do with this? Are we to believe the future must be bleak if they are willing to pay income taxes on all those assets just to get out of the business?

Anonymous said...

8:44, the big companies are better equipped to manage a work force that must be paid Benito wages. That law will hurt the little guys more.

Anonymous said...

It's time to move on, they milked the Development agencies for all they were worth, Got a water line installed outside the COW limits as a favor to them..

Anonymous said...

6:21 you are bitter, jealous? The stores are well equipped, provide a needed service and will continue to provide that service long after the Valentines are gone, therefore the investment of the development authorities is still worth it.

The minimum wage is just one of the mandates that make it hard to do or stay in business in New York. These mandates hurt the little guy more than big business as they can absorb the increase but with the growth of the Valentine empire over the last decade I am not sure we can call them the little guy.

That being said good for them. I hope they stay and invest in our community

Anonymous said...

With the sale of Capraras and now this I am impressed that jefferson county can generate this kind of income.

Anonymous said...

There are two things in play here which contradict each other. One is that a company like Sunoco is willing to pay dearly for dominance in a market area, in order to raise gas retail prices. The other is that large companies like Sunoco do not do well at looking into the future and instead rely on current sales and multiples to determine value. Look at the sub-prime mortgage meltdown as an example of how well Wall Street does at looking at the realistic future value of their investments.

Anonymous said...

Sorry 654 neither, just don't like to see special favors like this, but I realize this is commonplace in the world, so if Sunoco doesn't pay there water bill who will? Can't put it on their taxes, outside the COW?

Anonymous said...

3:01 PM, it's not a "special favor" our government to allow taxpayers access to basic infrastructure.
And "water"town gets a lot of their water from Cape. What happens if the city doesn't pay DANC for that? They can't add it to their tax bill

Anonymous said...

1:14, Your point is valid but Watertown does not get any of its water from Cape, (they actually compete against the DANC/Cape line).

Instead, the city gets all its water for free from the Black River and they process it in a multimillion dollar water treatment plant bought and paid for by DANC. DANC paid for the city's water treatment plant in order to entice the city to sell water outside of the city. And that is exactly what is happening in the case of Nice and Easy. And it is exactly what is happening in the case of every outside water district, including private districts, like the one on outer Ives Street. And BTW... the city charges outside users an extremely high premium for the privilege of buying DANC's water.

And BTW...if the city didn't have a longstanding wrongheaded stance on this subject, those 100 acres on outer Bradly street would have been developed long ago. Then maybe that side of the city wouldn't be such a crap hole. Look at that Honda dealership and tell me that doesn't reflect well on that side of the city, even if it is on the other side of the city line.

Anonymous said...

Sorry 114 when you run water to outside entities a water district must be formed, everyone outside is not a taxpayer of the COW, The COW gets no water from the Cape for it's residents, any purchase of water passing through DANC is by a contract, the allowing of The store was done as a favor to someone, as no one along the way was allowed to hook into the water line.....

Anonymous said...

Sorry 7:39 not just for your pitiful jealousy but because you make a terrible argument.

When the city sells water outside of the city, they charge a premium for it, so it is a benefit to the tax payers. And it doesn't matter if the city is selling water to a district or single user, the city council has to approve it. The city does not run or maintain the line, the user does.

In this case the council approved it and if it was a favor to anyone it was a favor to the city tax payers. The city is now selling water they get for free and treat with a free treatment plant and don't have to install or maintain new lines.

When the city sells water outside the city, there is virtually ZERO incremental costs involved. Your worries about someone not paying the bill are invalid because of that alone, amongst other obvious reasons.

But if you are that concerned about it, you should go to a council meeting and ask council to rescind the outside user agreements for Nice and Easy and all the outside districts.