WPCNR MR. & MRS. & MS. WHITE PLAINS VOICE. August 20, 2005: John Carlson, Candidate for Common Council observes the retail scene in White Plains and raises some interesting questions:
Dear Mr. Bailey,
Wal-Mart recently reported its smallest quarterly profit gain in the past 4-years and, due to high fuel costs, Wal-Mart has developed a somewhat cautious outlook about retail spending.
I thought the readers and you would find this Reuters news report about Wal-Mart interesting (see the link below).
My concern in relation to White Plains is there may be a shakeout as more retailers compete head-to-head here.
My sincere hope is that Wal-Mart succeeds in White Plains and, as well, the other similar retailers (Sears, Target, Macy's) continue to co-exist in White Plains. Furthermore, I certainly want these retailers to succeed so that the City may realize the sales tax revenues hoped for.
However, as gasoline prices increase, this box-store concentration may not bode too well for White Plains retailers in general and for the sales tax revenues that the City has pinned its hopes on.
Note also, that Sears and K-Mart have merged. The merger could mean that one of the merged-company's stores in White Plains (Sears) or in nearby Greenberg (K-Mart) may be closed sometime forward.
People are worrying more about their discretionary spending now that the high gasoline prices seem to be rising even more without any signs of possibly retreating.
Some people are now asking:
"If sales tax revenues may not grow as hoped for, isn't it time for the City to show some leadership? Some fiscal restraint, some belt tightening?"
The answer is should be "yes".
Sincerely,
John Carlson
