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Ignoring for a second the debate on whether Living Social will even be around in a few years (I doubt it), it irks me that DC is laying out the fancy red carpet, gold leaf china and the crystal decanters for a completely unproven company while systematically and historically ignoring much better options in the past.

I mean, DC lost bids for Northrup Grumman because it wouldn’t match or exceed the 22 million they were given, lost the bid to get VW’s Headquarters to FFX because we wouldn’t match or exceed the paltry 6 million FFX gave them. I could go on for awhile.

These companies have business models proven by the decades and decades they’ve been in business…have proven billions a year in profits whose employees are all high earning, highly educated white collar folks that we need in the District.

Nooo…instead we hand over the keys to the treasury for a glorified coupon circular that employs a bunch of relatively low paying 32-45K/yr “marketing associates”, half of the 1000 in the DC office, don’t even live in the District.

by freebies on Jun 14, 2012 12:10 pm • link • report