Biz

Bose Unplugs From SC

THE SOUND YOU HEAR? VANISHING JOBS … || By FITSNEWS || Less than twenty years after locating in the Palmetto State, Massachusetts-based Bose Corporation is pulling the plug on its South Carolina operation – costing the state 300 jobs. The audio equipment provider – best know for its state-of-the-art headphones…

THE SOUND YOU HEAR? VANISHING JOBS …

|| By FITSNEWS || Less than twenty years after locating in the Palmetto State, Massachusetts-based Bose Corporation is pulling the plug on its South Carolina operation – costing the state 300 jobs.

The audio equipment provider – best know for its state-of-the-art headphones – is shutting down its Blythewood, S.C. facility, which employed nearly 1,000 people as recently as a decade ago.  News of Bose’s decision was first reported by Roddie Burris of The (Columbia, S.C.) State newspaper.

What did Burris fail to mention in his reporting?  How much money taxpayers shelled out to the company over the course of its nineteen years in South Carolina.

The State doesn’t care to let you know about deals getting cut with your money … which isn’t surprising seeing as they were recently a part of one of those deals.

Oh well, at least this deal provided some return on investment … which is more than can be said for some of Nikki Haley’s “economic development” projects.

Succeed or fail, though … no company should receive taxpayer-funded inducements. Ever.

It simply isn’t fair to those forced to pick up the tab …

Speaking of the tab, FITS has a request for Bose-related information into the S.C. Department of Commerce.  We’ll let you know what (if anything) we hear back …

UPDATE: A Commerce official tells us that Bose received no funds from the Coordinating Council for Economic Development (CCED) – a.k.a. the entity which approves discretionary incentives.  The company also came to South Carolina prior to the implementation of state job development tax credits, so they apparently didn’t get those either.  FITS has uncovered documents which indicate Bose received tax incentives at the local level, but there’s no immediate recapitulation on their value.  

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46 comments

Smokey Joe January 26, 2015 at 4:26 pm

I love it when people make stupid ass blanket statements about Econ Dev. Yeah no one should get taxpayer money, especially those bums at BMW & Boeing who really scammed the state.

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Uh huh January 26, 2015 at 4:39 pm

Yea, it seems pretty obvious that taxpayers shouldn’t subsidize BMW & Boeing, right? Only the stupid would suggest otherwise, unless they are one of few that get jobs at one of the two places.

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FastEddy23 January 26, 2015 at 7:02 pm

The unions and the Feds have been scamming Boeing for decades. Compared to the fancy dances needed with push-me-pull-you poli-wogs in Illinois, Washington state and DC, working to repay the debt to SC taxpayers will be a piece of cake.

Smokey: how much do you figure Boeing owes you?

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The Millionaires Club January 26, 2015 at 8:01 pm

Old Eddy shilling for Boeing now?

Eddy Eddy we appreciate your concern but we are going to be alright.

REALLY!

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GrandTango January 26, 2015 at 4:31 pm

South Carolinians getting fired…I bet FITS is having a party. He loves it when bad news hurts our people…especially when he can blame the people he hates…

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MommaTango January 26, 2015 at 5:14 pm

Lord, son, I know you aren’t on here saying this about some nice little man’s site when you do the same thing!

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Jack January 26, 2015 at 5:39 pm

Do you think this could be god’s punishment on SC for Haley worshiping that Sikh god?

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Helping Hand January 26, 2015 at 5:51 pm

Maybe you could provide some tips for the unemployed on your blog?
1. Get govt assistance
2. Pass the time endlessly commenting on FitsNews
3. Wait around to die

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Saluda Rapids January 26, 2015 at 7:23 pm

And there’s our winner for the day.

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mamatiger92 January 27, 2015 at 9:08 am

“especially when he can blame the people he hates”

Self-awareness. Look into it.

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Across the board corruption January 26, 2015 at 4:36 pm

That’s the business model for the big in-state companies. Milk the subsidies…work the system, when they expire, close the doors.

Better to have lower/no taxes across the board for all business rather than corrupt pols doling out favors to only mostly big companies that pay them off.

I know of companies in state that get substantial taxpayer dollars to employ welfare moms, which subsidizes their entire business model. Who knows, they might not even have a viable business model if it wasn’t for taxpayer dollars flowing to them via payroll subsidy.

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FastEddy23 January 26, 2015 at 6:57 pm

Road Apples.

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Across the board corruption January 26, 2015 at 9:35 pm

Is that an argument or just a comment on the situation as a whole?

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Mike at the Beach January 26, 2015 at 10:09 pm

I think he’s calling bullshit on ya…

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Across the board corruption January 26, 2015 at 11:42 pm

He’s calling BS on me from California? Maybe he should come out here and visit some of the companies I visit before shooting off his mouth…assuming you are right.

Mike at the Beach January 27, 2015 at 12:29 am

Can’t promise you anything there- I don’t know from whence Fast Eddy 23 hails, but I have a good bud who uses that expression all of the time and he means “bullshit” when he says it. Prior to tonight he was the only guy I ever saw or heard using it…

Rakkasan January 27, 2015 at 8:50 am

Been to Wal-Mart lately?

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Jackie Chiles January 26, 2015 at 4:37 pm

We really need some detailed analysis on how poor ole mom and pop speaker manufacturers went out of business when Bose moved into Blythewood.

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Smirks January 26, 2015 at 5:26 pm

Bose is to the audio world as Apple is to the computer world, not total crap, but you’re paying more for the name and the marketing when you could get something of better quality elsewhere. On the other hand, at least it isn’t as shameless a ripoff as Beats by Dr. Dre.

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FastEddy23 January 26, 2015 at 7:10 pm

Both Apple and Bose have similar problems. Apple is moving their hordes of cash off shore. Bose has an egghead board of directors in Boston, and they won’t let Bose keep its profits at all.

The real economics lesson is simple. Profits allow a company to expand and grow. High taxes on profits, not.

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CNSYD January 27, 2015 at 9:45 am

Don’t hold your breath that intrepid investigative reporter Sic Willie will produce one.

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Bible Thumper January 26, 2015 at 4:44 pm

I don’t always trust the accuracy of survey data, but this table shows large declines in South Carolina Union membership and number of employees represented by union contracts. (in thousands)

Year ——– Total ——- Union —- % — Contract — %

2013 ——– 1,855 ——– 69 —– 3.7 —— 86 ——- 4.7

2014 ——– 1,884 ———41 —– 2.2 —— 61 ——- 3.2
http://www.bls.gov/news.release/union2.t05.htm#union_a05.f.1

Nine states had union membership rates below 5.0 percent in 2014, with North Carolina having the lowest rate (1.9 percent). The next lowest rates were in South Carolina (2.2 percent) and Mississippi and Utah (3.7 percent each). Three states had union membership rates over 20.0 percent in 2014: New York (24.6 percent), Alaska (22.8 percent), and Hawaii (21.8 percent). (See chart 1. at very bottom)
http://www.bls.gov/news.release/pdf/union2.pdf

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lulz January 26, 2015 at 4:47 pm

“FITS has a request for Bose-related information into the S.C. Department of Commerce.”

That’s gonna be a big black hole/void. Even if hell freezes over and you get a rundown of the subsidies, I guarantee you the numbers will be as manipulated as the unemployment report.

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Manray9 January 26, 2015 at 5:17 pm

When is Nikki’s press conference announcing this news?

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Torch January 26, 2015 at 6:31 pm

+1

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FastEddy23 January 26, 2015 at 6:53 pm

Dr. Bose passed away a year and a half ago. MIT owns most of the company. Bose Corp. is consolidating and divesting itself of the 190 retail stores.

Federal taxes on private enterprise and reduced demand = poor performing bottom line.

Oh Bummer.

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Sin Hi Sir January 26, 2015 at 6:56 pm

True. Bose isn’t the shit anymore.

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The Millionaires Club January 26, 2015 at 8:03 pm

Yep it was the damn Taxes!

Hahaha

(Actually we took the money and got the Hell out)

Once again Eddys concern touches us right in the pocketbook!

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euwe max January 26, 2015 at 7:36 pm

I know, we’ll save money by putting the quality of our business in the hands of the most ignorant state in the union.

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Thanks! January 27, 2015 at 9:28 am

It’s always nice to have Texans come here and tell us how stupid we are collectively.

I think Jesus said something about specks and such.

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euwe max January 27, 2015 at 11:05 am

Glad to be of service.

I do take pay pal.

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CNSYD January 27, 2015 at 9:48 am

Must be a huge error on MSN today about the worst school systems in the US. SC ain’t one of the top 5 worst. Where did Sic Willie and you go so wrong?

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euwe max January 27, 2015 at 10:55 am

I didn’t say anything about SC having the worst school system – doesn’t that belong to Mississippi or some other dreg red state? I don’t have those facts at my fingertips right now….

…at any rate, I said “the most ignorant state in the union.”

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CNSYD January 27, 2015 at 11:06 am

So there is no correlation between education and ignorance?

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euwe max January 27, 2015 at 11:26 am

absolutely not.

CNSYD January 27, 2015 at 11:09 am

You are correct irt MS. The next 4, in order, are NV, NM, OK, and AZ.

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Jack January 27, 2015 at 11:15 am

All states run by Republicans, I see.

Jack January 27, 2015 at 11:17 am

My bad NM is only half run by Republicans.

euwe max January 27, 2015 at 11:26 am

There are those who say that the worst school systems produce the brightest minds…. of course, they’re dirt dumb… and probably Republicans who think everyone can be in the top 1%.

idcydm January 26, 2015 at 8:44 pm

Good thing it’s only SC…

startup.ny.gov

What is START-UP NY? START-UP NY helps you start, expand or relocate your qualified business to a tax-free zone in New York State. Zero taxes for 10 years.

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Philip Branton January 27, 2015 at 8:23 am

Hmm…….maybe Fitsnews could actually take over the headphone operations and get Liz to start using “Fits headphones” while doing her restaurant reviews and be a spokeswoman at the same time..! Just look at all these potential customers here in the comment section alone..!

Liz is no dummy. She knows that a huge pair of “Fits” headphones in a fashionable style would do wonders.!!! Heck…….innovate the speaker design into a line of “Fits Secret” bras..!!

Its all about that BASS……and “trouble”..!!

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west_rhino January 27, 2015 at 10:12 am

didn’t this deal originate under Campbell or Beasley or Hodges?

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west_rhino January 27, 2015 at 10:14 am

reckon we could have a Darius Rucker label headphone manufactured in SC? I hear a plant that has an experienced work force is becoming available.

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Ass-Backward January 27, 2015 at 10:29 am

She will fight to keep Uber, but not Bose.

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euwe max January 27, 2015 at 2:05 pm

“Over the next 12 months, we will be consolidating our North American manufacturing operations, transferring production of select Bose products from our Columbia, South Carolina plant to our plants in Mexico,”

SC must have tried to shake them down.

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9" January 27, 2015 at 4:05 pm

Bose headphones? Go with Sennheiser or Grado.You can get a good pair of ‘high end’ cans,starting around,$150 to over $2,000 dollars.These should not me used with ipods or other crap players without a headphone amp.

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