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Miller Pipeline purchases Illinois-based contractor

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Indianapolis-based Miller Pipeline Corp. announced Monday morning that it has purchased Illinois-based Elcon Pipeline Inc., marking the company’s fifth acquisition in the past four years.
   
Terms of the deal were not disclosed.

Miller Pipeline, a natural gas distribution, transmission pipeline and utility contractor, now has a presence in 23 states, stretching from Florida to Indiana and from New Jersey to Kansas. Elcon is located in Rosamond, Ill., south of Decatur. It is a contractor for the St. Louis-based Ameren Corp. utility.
 
“This acquisition provides Miller with the opportunity to enter a new geographic market and develop long-term relationships with new customers,” Miller Pipeline CEO Doug Banning said in a prepared statement. “Consolidating our efforts enables us to offer gas distribution, transmission and repair services to the utility marketplace in Illinois.”

Founded in 1953, Miller Pipeline is owned by Evansville-based Vectren Corp.
 

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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

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