IS IT TRUE? September 3, 2011
IS IT TRUE that the ownership of a long time Evansville business has finally made the jump not only out of Evansville but out of the United States altogether?…that the legacy Evansville business once known as Creative Press that was located in Downtown Evansville until INDOT bought their building is has been bought out by a British based business?…that just a few years ago that local ownership ceased to exist when Menasha Corp. bought Creative Press and placed it into a corporate entity known as Cortegra?…that when an out of town entity buys a locally owned business that the profits are no longer available to create local wealth?…that Creative Press was for many years an Evansville owned business that provided jobs, pride, and profits to the local economy an locally controlled wealth to the owners?…that when the company was sold to an American company outside of Evansville the local profit and wealth part of that equation evaporated except of course for the check that the owner got?…that now that a British company owned Cortegra that the profits will no longer serve to even add to the American wealth?…that this is just one more example of local wealth being acquired and all future wealth being relocated to some other place?…that recently there has been a whole string of companies many of which are in legacy industries that have been bought right out of Evansville?…that in a very short span of time Creative Press went from a locally owned business to a foreign owned subsidiary of a subsidiary?
IS IT TRUE that the consolidation of Local 7 WTVW and News25 WEHT is progressing with timetables being set for Local 7’s move across the money saving bridge?…that these two stations through the years have had such distinctly different demeanors in presenting news, sports, and weather that choosing which one to watch was more about what kind of mood you were in as opposed to which team commanded ones loyalty?…that News25 has been a traditional style news source that seems to fancy itself as a mini-national news source with local stories?…that Local 7 (previously Fox 7) has really mixed it up with some zaniness and a more gloves off and jesters hat on presentation?…that both stations have filled the needs of the community and that the City County Observer hopes that both news teams can somehow continue to broadcast in their own styles?…that when this move is complete these stations like Creative Press will be out of state, out of local control, and subject to the financial management oversight of detached owners?…that we wonder what will become of the Local 7 studio in Downtown Evansville?
IS IT TRUE that Friday has passed and that there is no agenda available for next week’s meeting of the Evansville Redevelopment Commission?…that the expectation of all is that there will be some substantial discussion regarding the VETTING interviews that both the Kunkel Group and Prime Lodging have now subjected themselves to?…that any gut feelings or insider information that was developed in those meetings is a closely guarded box of secrets?…that not even Mole #3 has been able to get any tangible information about how these interviews have gone for the bidders?…that there have been a few pieces of info trickle out but that nothing has two source credible verification so the “Mole Nation†shall remain quiet?…that the other topic of interest that we are expecting to hear about is the intention of the ERC with respect to the McCurdy Hotel?…that while owning up to the financial reality may be the right thing to do our expectation is that either the word “McCurdy†shall not be uttered or that this albatross will be kicked down the calendar by another 3 months for the next administration to deal with?
“that now that a British company owned Cortegra that the profits will no longer serve to even add to the American wealth?…that this is just one more example of local wealth being acquired and all future wealth being relocated to some other place?…that recently there has been a whole string of companies many of which are in legacy industries that have been bought right out of Evansville?…that in a very short span of time Creative Press went from a locally owned business to a foreign owned subsidiary of a subsidiary?”
Consequences of a “global economy”, when you have federal and state (even our local government) governments touting alliance with foreign countries and companies for the sake of globalization this is the result. We can’t have it both ways, we are either isolationists concern with our own or we are part of a vast global community that has no boundaries. Spin it however you like the results to small communities are the same in a global environment motivated by profit and no regard for sovereignty, as I’ve stated before the USA’s contribution to a global economy is our jobs. Remember what Ross Perot said years ago about that “giant sucking sound” made as the jobs left the USA.
JMHO
Could the cold truth be that local ownership was limited in management capacity and had to sell out before they drove it into the ground? Could it be that Cortegra saved Creative Press from bankruptcy and took advantage of that gap in local talent to buy a sound business model with poor management for a song? Could it be that Cortegra put in some money and some “better than Evansville” management talent to turn a 10 to 1 or higher profit in a few short years that was just cashed in? Could it be that better local talent that could have gotten their hands on some investment money could have kept that 10 to 1 profit right here in Evansville?
Donald….I’m sure you are “Spot On” about the details or the why & how it went down, it’s plausible at the very least, in the world of “multinational corporations” not much is left but the low hanging fruit (small businesses) to be snatched up, for profit or technology (patents) small businesses are easier to loot and pillage, but for whatever the reason the end result is always the same profit/jobs leave this country in the end…it is a unsustainable situation, we will eventually run out of things for the multinationals to buy unless they become interested in selling us pizza, hamburgers and chicken..ooops that’s already been done hasn’t it.
JMHO
The McCurdy hotel building, on the National Register of Historic places, rots before our eyes while the ERC ignores its plight while busily and secretively bungling the Executive Inn replacement. Never in the history of Evansville has there been an appointed board more incompetent and damaging to the City than the ERC.
Is the real victim the Vanderburgh County Democratic Party? Or did they commit suicide?
The takeover at Creative really comes as no surprise as it’s been in the works for a long time
Keller Crescent was gobbled up by The Clondalkin Group(a Dutch conglomerate) in 2007 after being held privately for nearly 20 years.
American Standard owned it for nearly 20 years before it returned to private hands
They have since moved all of their corporate offices to Greensboro, NC and sold the advertising agency all together last year.
It wouldn’t surprise me to see KC gone completely in another year or so.
Sadly, I know people taking a beating at both places.
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