HEADQUARTERS BUILDING – We own our headquarters building in Omaha, Nebraska. The facility has 1.2 million square feet of space that can accommodate approximately 4,000 employees.
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So the company that is trying to stuff their shareholders pockets full of money are going to up and move the company to Texas. Stop smoking your k–ling the few remaining brain cells you have left and you need them, they stopped building the yard in Brazos because they didn’t need it (it also was costing them half a billion dollars and whatever they didn’t spend they stuffed back into the pockets of the shareholders). And even if they have the land to build on they would still spend millions building a new headquarters/campus and that goes against the PSR/saving money plan (stuffing shareholders pockets). They are likely staying in the paid off building they already own outright and just move employees up floors and rent out whatever left over lower floors are available.
Texas dummies
Corporate taxes in Nebraska are 7.81%, state income taxes are 2.46%-6.84%, property taxes are 1.83%.
Someone said they wanted to move to California corporate taxes there are 8.84%, state income taxes are 7.25%, property taxes are 1%o of the purchase price and can increase 2% per year depending of assessed value.
Staying there is cheaper then moving to California but hey I only googled this information so it could be wrong
You id–ts, Nebraska has very high taxes!
And that’s one of the many reasons they won’t move headquarters they own the building outright, taxes are cheaper in Nebraska then almost anywhere else, and they will be hard pressed to find anyone that will buy the building from them especially with its location
No one sprints after you anymore. Those people were all let go. In fact, the executives are all back to using their cellphones while they walk.
and if you jaywalk in front of the building, someone will also jaywalk and sprint 100 yards to catch you and tell you not to jaywalk and they're concerned for your life here's a courage to care card.
If they own it then it , the big boy, or anything else that could bring a few bucks should be sold to meet their goals. Ink pen, computer mouse, hammer and pry are are all that is left after the auction. If you are going to close it, “DO IT NOW!” Please quit prolonging the misery!
It is not leased. That article is 16 years ago. The lease was bought out in 2014 at the end of the 10 year term. UP does in fact now own UP Center
It is leased. As a tax dodge.
Quote below is from Wall Street Journal 'How Leases Play A Shadowy Role In Accounting', 2004 - see https://www.wsj.com/articles/SB109580870299124246
"This summer, Union Pacific Corp. opened its new 19-story, $260 million headquarters in Omaha, Neb. The railroad operator is the owner of the city's largest building, the Union Pacific Center, in virtually every respect except its accounting.
Under an initial operating lease, Union Pacific guaranteed 89.9% of all construction costs through the building's completion date. After completing the building, the company signed a new operating lease, which guarantees 85% of the building's costs. Unlike most operating leases, both were "synthetic" leases, which allow the company to take income-tax deductions for interest and depreciation while maintaining complete operational control. A Union Pacific spokesman declined to comment.
Neither lease has appeared on the balance sheet. Instead, they have stayed in the footnotes, resulting in lower reported assets and liabilities. On its balance sheet, Union Pacific shows about $8 billion of debt, while its footnotes show about $3 billion of operating-lease commitments, including for railroad engines and other equipment."
True
He should consider selling or leasing it out.
He should consider selling or leasing it out. Might bump the share price a few cents. Run the operation from his kitchen table. Courage to care.
When is it going to snow in Omaha again? We need another message!
Who cares!