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Bills relocating to Austin?


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34 minutes ago, flgreen said:

This just isn't a football thing either.  A lot of white collar jobs are flowing into Florida.  Myself?  I was born and raised in the NYC area.  At one time I thought it was the only place in the world I could live.  After being in Florida a good number of years you couldn't get me back there with a gun.  I'll bet about half the posters on the board have fled, or are planning to leave the area first chance they get.

 

Florida Is Fast Becoming The Second Home For Wall Street

Jack Kelly
Jack Kelly
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It's a cliche that New Yorkers move to sunny Florida when they retire. This trope is being updated. Now top Wall Street, hedge funds and financial services firms are moving out of New York and relocating or opening up offices in the Sunshine State. 

 

Virtu Financial Inc, a highly successful electronic trading firm that made about “$9.6 million a day” during the third quarter of 2020, is the most recent Wall Street player to set-up shop in Palm Beach Gardens, Florida. According to Bloomberg “Roughly 50 people, or 10% of Virtu’s U.S. workforce,” will be moving. Virtu’s Chief Executive Officer Doug Cifu said in Wall Street parlance about the migration, “We are dramatically oversubscribed for people who want to relocate from the tri-state area.” Cifu added, “We surveyed our employees, and the No. 1 concern that people had was quality of life—but also taking mass transit to New York City any time in the foreseeable future.” There's another benefit for the well-paid workers too. They will “see a lateral pay move, which amounts to around an 11% increase in salary because Florida has zero income tax.”

“I was always a non-work-from-home, people-gotta-be-in-the-office, trading-room kind of guy,” said Cifu. “But I don’t think it’s practical given the modern world and where people want to live their lives and where people are happiest.” After schlepping back and forth from his home in New Jersey to Manhattan, Cifu said about the move to Florida, “This is a forever thing,” and “We ain’t coming back.” 

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A combination of high taxes, poor governance on the part of New York City Mayor Bill de Blasio, ever-increasing crime, capricious business and school shutdowns and a resurgence in Covid-19 cases may have contributed to Goldman Sachs considering to move a large money management division to Florida. 

The absence of a state income tax, plus warm weather and a business-friendly mindset, has already prompted hedge fund billionaires and native New Yorkers Paul Singer and Carl Icahn to relocate their respective businesses to Florida. Blackstone Group, the large private equity firm, signed a long-term lease in October for office space in downtown Miami. Deutsche Bank previously established a sizable beachhead office complex in Jacksonville, Florida.

Ken Moelis, the CEO of his eponymous investment bank Moelis, told Bloomberg that his bankers wanted to leave New York City for Florida. In response to their request, Moelis replied, “We’re a talent business. I want to attract, I want to motivate and I want to retain the greatest talent in the world. And if that talent wants to do it in Florida, that’s where we’ll support them.”  

A recent study showed that at least 20% of Wall Street banks and financial services firms have thought about relocating workers to other locations outside of New York. This trend will result in a hard hit to New York City’s budget, as the securities industry accounts for a substantial amount of tax revenue. The white-collar employees tend to earn larger salaries and bonuses compared to people in other sectors. Their departure would worsen the situation for restaurants, retail stores and other businesses that are already reeling from the effects of the pandemic. 

The Covid-19 pandemic has shown that more work can be done remotely than ever before. Therefore, there is less of a need for costly offices. Unless city and state elected politicians make changes, the flight out of high-taxed, expensive cities will continue. As corporations and well-paid, white-collar workers leave, the cities will bear the brunt of plummeting tax revenue. The decline will force mayors to drastically cut costs. This will include massive layoffs of teachers, police officers, firefighters, garbage collectors and other municipal workers. 

With less services, the cities become dirtier, crime increases and living conditions worsen. This will prompt even more people to move. A cascading downward spiral could occur, making places like New York dangerous and inhospitable. It could become just like in the dark days of New York in the ‘70s. It took over a decade to turn things back around.   

United Van Lines released it's 44th Annual National Migration Study, that shows a movement from New York and other large cities to locations in the south and west. The report indicated that the Covid-19 pandemic “accelerated many of those decisions to move,” and “40% of Americans who moved did so for a new job or job transfer.” Other reasons for the move out of big cities were due to “concerns for personal and family health and wellbeing,” and “changes in employment status or work arrangement,” along with a “desired lifestyle change or improvement of quality of life.”

Eily Cummings, director of corporate communications at United Van Lines said about their customers, “As more people experience job and lifestyle changes amid the pandemic like remote working, we’re seeing they have more flexibility in where they can live – many choosing to move from urban to more rural areas.”

Here are the top inbound and outbound moves according to United Van Lines:

Moving In

The top inbound states  

 

  • Idaho
  • South Carolina
  • Oregon
  • South Dakota
  • Arizona
  • North Carolina
  • Tennessee
  • Alabama
  • Florida
  • Arkansas

 

Moving Out

The top outbound states 

 

  • New Jersey
  • New York
  • Illinois  
  • Connecticut
  • California
  • Kansas
  • North Dakota
  • Massachusetts
  • Ohio
  • Maryland

 

 
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YEP!!!!  Buddy of mine works for a small boutique investment bank.  The 10 owners all make BIG 7 figures, private jets etc....  They closed their offices in Manhattan.   Opened a main office near Jacksonville Florida etc.....

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Call their bluff and tell them to f off. There should be no negotiation in the NFL these guys make billions if they want  new stadium etc then lay out the cash and build it, you know the old fash

I don’t like seeing any fan base lose their team but those maniacs in Buffalo might burn down that inbred city if this was actually to happen 

"So, here's the deal tiny, Middle class Blue Collar,  Rust Belt City....all of your industry shut down, the economy has been a locked down, stagnant mess, many of you are living on soon to expire Fede

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13 hours ago, jeremy2020 said:

It's not about population and/or wealth. The area has that, but it's the same problem LA has... there's not enough interest / too many other distractions in the area. That's before you get to traffic / infrastructure problems that trying to use 35 would entail. 

Nope, people in Central Texas love football WAY more than they do in LA.  Can't even compare.

As for land, I'd look south of the airport near the Formula 1 racetack.  That way people could take the toll highway 130 too.

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24 minutes ago, jetscrazey said:

Nope, people in Central Texas love football WAY more than they do in LA.  Can't even compare.

As for land, I'd look south of the airport near the Formula 1 racetack.  That way people could take the toll highway 130 too.

Our experiences seem to be very different. I don't find a lot of people at work or personally interested in NFL football outside some Cowboys fans and even then.. it seems to pale in comparison to NFL interest when I lived in Columbus, OH. The interest in Football seems to be about College football. 

I've not seen a lot of clamoring privately or publicly for an NFL team via the media, government or social media. My belief is there would be outright resistance to someone trying to move a team to Austin or it's immediate surroundings. 

Also, the F1 track is a nightmare. The traffic in and out of there is abysmal. I'll never go near 71 on race days. 

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On 8/1/2021 at 4:56 PM, Rhg1084 said:

I don’t like seeing any fan base lose their team but those maniacs in Buffalo might burn down that inbred city if this was actually to happen 

the players would love it. austin great place to live

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23 hours ago, Ghost420 said:

Im not debating who should pay for the stadium I'm just saying they need an upgrade. 

Well, I guess that shows who is in the pocket of whom....No gov't should cow-tow to this nonsense, but...

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What's with the obsession of NFL Franchises and new stadiums? Every other year there seems to be a new one. That is something i will never be able to understand.

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What's with the obsession of NFL Franchises and new stadiums? Every other year there seems to be a new one. That is something i will never be able to understand.
They dont build them like they used to ....

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On 8/1/2021 at 7:35 PM, Warfish said:

EDIT:  I say this every time a team threatens to move, I'd love it if Congress passes a law saying "Teams can move, but they must leave the team name and their history to the City they leave

Like when the Browns moved to Baltimore 

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3 hours ago, Dunnie said:

They dont build them like they used to ....

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It's not even that. I think it's amazing that some franchises such as the Packers stay at such an amazing piece of history such as Lambeau. Call me a romantic, but it's quite lovely to see stadiums like Wrigley and Fenway.

Might be my europeaness clinging on to history, but there is quite of a relation between fans and stadium, after all, it's a place of worship where they go every Sunday.

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7 hours ago, Gramsci said:

What's with the obsession of NFL Franchises and new stadiums? Every other year there seems to be a new one. That is something i will never be able to understand.

Corporate seats = more money 

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On 8/1/2021 at 6:11 PM, TokyoJetsFan said:

They brought their fight to Albany, not Buffalo...which means they are asking the state of NY to fund this.  

I see.

Now I officially support the move to Austin.

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2 hours ago, section314 said:

Austin is a college town. When the Longhorns are in the SEC, nobody will care about the Bills.They'll be begging to go back to Buffalo.

Have you ever been there? Austin is a major city - a lot bigger than a college town. Huge tech and venture capital industry. Buffalo is barely a speck on Austin's ass. 

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2 minutes ago, sackdance said:

Have you ever been there? Austin is a major city - a lot bigger than a college town. Huge tech and venture capital industry. Buffalo is barely a speck on Austin's ass. 

Not saying it's not a major city, just that their true love is Texas Longhorn football. Just like LA, they tolerate the NFL, love USC and UCLA. The Bills may have the best and loyal fans in the NFL. The Bills are Buffalo.

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43 minutes ago, sackdance said:

I see.

Now I officially support the move to Austin.

What makes it even better is that every team in the past has asked for partial funding from a city or state…Buffalo opened negotiations with asking the state to fund 100% of the stadium. I know negotiations start from a place from where you are willing to move from, but takes some large balls to ask for 100% when people are losing jobs and homes during these tough times. 

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On 8/1/2021 at 2:45 PM, kevinc855 said:

That town has literally nothing going for it besides their Bills.

I think they storm city hall before it happens. So, in the sense of keeping the peace I dont see it happening. 

Plus Austin? Cool city. Football town ready for a new team? Hardly

Um... tim Hortons, chicken wings...get outta here

 

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11 hours ago, Gramsci said:

What's with the obsession of NFL Franchises and new stadiums? Every other year there seems to be a new one. That is something i will never be able to understand.

Billionaires need shiny toys paid for by the people to measure their dicks with.

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4 hours ago, Gramsci said:

It's not even that. I think it's amazing that some franchises such as the Packers stay at such an amazing piece of history such as Lambeau. Call me a romantic, but it's quite lovely to see stadiums like Wrigley and Fenway.

Might be my europeaness clinging on to history, but there is quite of a relation between fans and stadium, after all, it's a place of worship where they go every Sunday.

As opposed to when they split it with 4 games at Milwaukee County Stadium throughout the 80's and 90's because Lambeau was a dump too.

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2 hours ago, section314 said:

Not saying it's not a major city, just that their true love is Texas Longhorn football. Just like LA, they tolerate the NFL, love USC and UCLA. The Bills may have the best and loyal fans in the NFL. The Bills are Buffalo.

UT is not the end-all of Austin anymore.  The massive influx of outsiders over the past 20 years has changed it's character.

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I looked up the population of both cities and was surprised to see that Austin city pop is about 950k and the metro area is over 2 million and Buffalo city pop is 254k and metro 891k. So it's a bigger market. But I can't see either the state gov of Texas or the city of Austin paying for a billion dollar plus stadium. We were thinking of visiting our daughter who lives in Houston in late Oct and taking a side trip to Austin. Might take in Rams vs Texans and maybe even a college game in Houston either Rice or Houston Cougars but that trip is on pause. 

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5 hours ago, jetscrazey said:

UT is not the end-all of Austin anymore.  The massive influx of outsiders over the past 20 years has changed it's character.

UT is still a MAJOR influence. It may not the 'end all', but it goes right up to the end. UT also has massive influence on the city council. UT is a major 'water-cooler' topic amongst the c-suite corporate crowd. 

I'm interested in your experiences that lead you to believe this is not the case because mine are so vastly different. 

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18 hours ago, Gramsci said:

What's with the obsession of NFL Franchises and new stadiums? Every other year there seems to be a new one. That is something i will never be able to understand.

Have you been to Ralph Wilson stadium? 

The place is a huge dump. 

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21 hours ago, sackdance said:

Have you ever been there? Austin is a major city - a lot bigger than a college town. Huge tech and venture capital industry. Buffalo is barely a speck on Austin's ass. 

Buffalo GDP = ~50-70 billion

Austin GDP = ~140-325 billion

Buffalo Population = ~260 thousand

Austin Population = ~2.3 million

(All stats courtesy of ye ol' wikipedia)

Buffalo is "Old America", Austin is "New America".

Many folks don't seem to understand that the old "Big cities" aren't all so big anymore, and that new cities are often now vastly bigger/wealthier/more viable for pro sports teams.

To put things in perspective, the Richmond/Hampton Roads Region here in VA has a population of ~3 million, and an economy about 3-4 times larger than Buffalo.

If we were assigning sports teams to cities today, like a draft, and it was in any way based on economy/population, places like Buffalo would never even get a sniff of any pro teams.  I think folks would be surprised who would get teams in such a hypothetical scenario, lol.

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14 hours ago, Rangers9 said:

I looked up the population of both cities and was surprised to see that Austin city pop is about 950k and the metro area is over 2 million and Buffalo city pop is 254k and metro 891k. So it's a bigger market. But I can't see either the state gov of Texas or the city of Austin paying for a billion dollar plus stadium. We were thinking of visiting our daughter who lives in Houston in late Oct and taking a side trip to Austin. Might take in Rams vs Texans and maybe even a college game in Houston either Rice or Houston Cougars but that trip is on pause. 

Here are a few of the high school football stadiums Texans have paid for over the last decade.  I think they could/would build whatever an NFL wanted if they seriously thought a team would move.  My two cents...

https://www.maxpreps.com/news/VFHT4UsAn0Kxjx_zXJeiow/top-10-most-expensive-high-school-football-stadiums-in-texas.htm

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1 hour ago, Jetscode1 said:

Here are a few of the high school football stadiums Texans have paid for over the last decade.  I think they could/would build whatever an NFL wanted if they seriously thought a team would move.  My two cents...

https://www.maxpreps.com/news/VFHT4UsAn0Kxjx_zXJeiow/top-10-most-expensive-high-school-football-stadiums-in-texas.htm

60 million for a HS stadium our HS stadium was at most 30k. But we’re talking here about a couple of billion. And Pegula’s got the money. You’d assume Texas would give them all kinds of tax incentives. These rich oil billionaires some of them might be willing to kick in but hard to believe they would do it for nothing. Esp for a guy like Pegula who like them is super rich. In terms of the politics the state gov is highly conservative but Austin is progressive. 

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