With an estimated 5-7,000 jobs lost in Sioux Falls since last October and the possibility of John Morrell’s closing, more layoffs could really put the Sioux Falls economy in a downward spiral;
But, South Dakota Governor Mike Rounds says part of the new law could actually hurt the state’s credit card industry, and could potentially cost South Dakota thousands of jobs.
“I’m concerned, first of all, in terms of jobs in South Dakota, we may find 3,000 people without a job if this gets to be as bad as some have suggested,†Rounds said.
Add that to 3,000 from Morrells and the other layoffs and you are looking at 6,000 jobs lost within a few months. Not good at all. I’m not an economist, but I am also not a dummy, this will suck, big time. You might see Sioux Falls actually decreasing in population for the first time in decades.
I guess we should be glad we are rated 4th in the nation for fast food joints, the dollar menu at Mickey D’s is looking better everyday.
It’s sad when the Gov complains about ripping off poor people and the jobs that will be lost.
Maybe he should be working with these cube farms to find other call center jobs.
The greed machine won’t shed one single job until it’s put out of business.
There are reputable CC companies out there, but they probably don’t want to move their operations to Sioux Falls.
Why not? Citi and Wells Fargo do pretty well here.
Most of these places will survive this law. They’ll just have to change their business model to do it.
IBM started out making typewriters, and Coors made ceramics and malted barley during prohibition (with a handy warning that fermenting the malt with water, hops, and yeast in just the right way would lead to an alcoholic solution). The CCs will stay in business too.
Some of the largest SF credit card companies (Citi and Wells as GoD mentioned) aren’t really going to be hurt by new legislation because their business models aren’t built on catering to the lowest common denominator, but First Premier might take a hit or be forced to adapt.
There are a few other smaller groups which could be impacted as well, but in the scope of the industry I don’t think there is much to worry about. I’d be more concerned about John Morrells closing but I don’t see it happening as they ahve invested far too many millions in their operations.
If they go – they go, and if Sioux Falls sees a population reversal for a year or two it just might be a good thing because it would force our wise city leaders to pull their heads out of the sand and realize that we are not isolated from the nation’s problems as much as we might think we are.
Still the point of this story is that the leader of our state is more concerned about jobs rather than stopping preditory leanding. FP/ Sanford is ripping people off and just because he gives Rounds a boat load of money doesn’t make it right.
Don’t get me wrong. I like that T Denny is investing his money in SD. But the Robber Baron approach to the credit card industry needs to stop. Find a new way to rip off stupid people.
Find a new way to rip off stupid people.
Video lottery is still legal.
Whether it be taxes on cigarettes, the mental draw of powerball, video lottery, payday loan centers, predatory credit card companies, or the intinct to buy high horsepower low gas mileage american automobiles with a dismal record of reliability, it is nearly impossible to protect stupid people from themselves.
We try and try, but they don’t listen. Sadly, the one thing stupid people are good at is running for public office and breeding. Neither of those two things helps future generations.
Kinda like how stupid people lined up to vote for “Hope & Change” when most of them had no clue what that actually entailed.
Folks seemed to think that because a guy can give a good speech he can roll into DC, fix the Economy and provide us all with
free health care and a new car. We simply have to tax a few millionaires, print more money and raise our debt ceiling and all’s good.
Love the Chicago style though: “BTW, since Helath Care is stalled, we are going back to rip into the Bush Admin. and also there will be no COLA increase on SS, which is almost bankrupt. Headin’ out of town now, so no questions and stay the hell away from us.”
George W. rode his bike into DC after bankrupting 3 oil businesses and did the same to the country. Gave tax breaks to the millionaires and left the rest to be paid by us who are not millionaires. He couldn’t string 10 words together so who the hell ever knew what he said. There were jobs for everyone when he took office and he left office with pathetic unemployment numbers. The list goes on and on. He will go down as the worst president ever, hard to believe someone could top Nixon or Reagan.
George W. Bush 487 days at Camp David, 490 days at Crawford Ranch, 43 days at Kennebunkport Compound
Carter took 79 days in 4 years.
Clinton took 152 days in 8 years.
Reagan took 335 days in 8 years.
Bush Sr. took 543 days in 4 years!
Everytime someone brings up GW not being a bad president it reminds me of that episode of ‘Curb your Enthusiasm’ Where Larry’s wife gives him a free pass to cheat on her for a birthday president. Larry almost hooks up with an actress in her dressing room. While they are making out on her couch he looks over at the end table and there is a picture of GW Bush on it. And Larry says, “Why do you have a picture of Bush?” and she says, “I like him, I think he is great.” and Larry replies, “I can’t do this.” and leaves.
Sy, Bush sucked.
Big Time as Dick would. Watch out for Dick in a couple months, he will be hunting in SD. Get out the Kevlar.
Kinda like how stupid people lined up to vote for “Hope & Change†when most of them had no clue what that actually entailed.
Folks seemed to think that because a guy can give a good speech he can roll into DC, fix the Economy and provide us all with
free health care and a new car. We simply have to tax a few millionaires, print more money and raise our debt ceiling and all’s good.
I’ll kinly tell you what I told a bunch of my friends who were still whining about Bush v. Gore months later – quit ‘cher bitchin’. McCain lost, and it’s completely the fault of the republican party that he did. Get over it and move on.
The list goes on and on. He will go down as the worst president ever, hard to believe someone could top Nixon or Reagan.
Not U.S. Grant, Hoover, or Carter? Your list is a little lopsided.
Kinda like how stupid people lined up to vote for “Hope & Change†when most of them had no clue what that actually entailed.
Leave it to Sy to turn this into a Obama-bashing session. Talk about a one trick pony.
But you’re right Sy – sweeping generalizations about the intelligence of over half our nation and their true motives about why they voted for Obama must be true. Only true patriots and the most intellient among us voted for McCain.
Oh wait…you mean you are actually being serious?
Costner makes sweeping generalization = brilliant & thought provoking analysis, all while being piss-your-pants witty & spot on.
Sy responds with one = Geez, what a loser. No one should take him seriously.
Kinda like the deep, inspired anaylsis of: All Republicans = bad, All Democrats = good. Repeat ad nauseum.
Those of you who refuse to find anything positive that a Republican Pres has accomplished are no better than the LaRouche-bag lady holding up the Obama = Nazi sign.
The problem is Sigh – nobody was in here saying all Democrats are good and all Republicans or bad… or vice versa for that matter. The discussion was clearly non-partisan until you thought the need to go on your little carbon-copy daily rant about how horrible Obama is, or perhaps how horrible (and clearly uninformed and lacking of intelligence) those who voted for him are.
Had it come from someone who isn’t so one sided it might have been seen for something other than simple partisan hackery, but when considering the source it seems clear you will find any excuse – legitimate or otherwise – to bash the opposing team and defend your own.
Granted after you went and muddied the waters Helga jumped in there with the exact opposite viewpoint (which is just as short-sighed in my opinion).
Just get a new gimmick already. You’re starting to sound like Karl Rove from the AL board.
Costner:
“….the discussion was clearly non-partisan until you thought the…”
Clearly non-partisan? On which planet do you spend most of your time?
“It’s sad when the Gov complains about ripping off poor people and the jobs that will be lost…”
“FP/ Sanford is ripping people off and just because he gives Rounds a boat load of money…”
Funny thing Costner, until I chimed in no one was making any comment good or bad on the actual folks who are pushing & implementing this new law. I guess Dodd and Co. get a pass, even though they have been knee deep in Fan/Fred/AIG and their subsequent bailouts since day one. But,
isn’t our Republican Governor such a dick for commenting negatively on said law.
This “reform” isn’t anything more than bailing out stupid people for signing stupid contracts, that much maybe we are in agreement on. But, there comes a point where we cross into an assault on the very foundations of Capitalism, one of who’s primary priciples is “contracts are contracts”, don’t sign it if you don’t get it. Personal responsibility shouldn’t be a Democrat or Republican tagline, it should be something we all live and teach.
“Granted after you went and muddied the waters Helga jumped in there with the exact opposite viewpoint”
Yet as usual, it’s my comments that draw your contempt & disdain. At least Dude was fair about it and hit us both. Helga or anyone else can bash anything and everything Republican 24-7 all strait from Daily Kos or Crooks & Liars and never a peep from you.
Your gimmick is to pretend you don’t
have a gimmick.
Clearly non-partisan? On which planet do you spend most of your time?
“It’s sad when the Gov complains about ripping off poor people and the jobs that will be lost…â€
“FP/ Sanford is ripping people off and just because he gives Rounds a boat load of money…â€
Oh Christ… trying to make those comments blanket statements towards Republicans is quite a stretch even for you Sy.
What’s next – are you going to pull the reverse racism card because Rounds is a white guy?
Get a grip. People are complaining about his decisions because of the decisions… not because he happens to have a little “R” after his name.
Yet as usual, it’s my comments that draw your contempt & disdain.
Ah but let me explain. I don’t know Helga and frankly this is the first I’ve noticed her? posting, so I can’t say if she? has a gimmick or is blatantly one sided or not.
In addition to that, her? comment seemed to be a pointed response to your idiocy, and thus I decided to comment on your post since it was clearly out of left field and had no connection to the core debate/discussion.
Like it or not, I do call out of one trick ponys from both sides. You obviously have this impression I’m some sort of liberal pretending to be a conservative or a gimmick that pretends to not be a gimmick (I’m assuming that is some sort of right wing logic that makes sense to the Rush faithful) but that simply isn’t the case.
There have been more than a few times I’ve called out Lewis on his nonsense and I’m sure he will attest to that, and there have been many times where I defended someone on the right just as I do on the left but the real issue is I rarely see anyone on this board twist and manipulate topics merely to get in yet another jab at Obama specifically.
If you want to bash the policies that led to credit card reform then so be it, but rediculing those who voted for “Hope & Change” isn’t even remotely close to a coherent thought.
I just hate that you are so darn predictable.