Microsoft has said it will spend $2 billion on new technologies to combat the threat of Google, Yahoo!, eBay and the like. Which to shareholders means operating expense, to Google means let's throw a hundred products against the wall to see what sticks, and to college grads means money money money. But to Redmond, Washington?
It means cranes, concrete, and an "eye-popping" real estate market. A company headquarters that now employs 30,000 people could add 12,000 in the next two years -- 3.1 million square feet, or 14 new buildings to be constructed. As the New York Times points out, for Seattle "those are staggering numbers."
Seattle may be happy, or not. On one hand, the unemployment rate will certainly decrease if Microsoft is going new-hire crazy. On the other hand, the city is already clogged with traffic and real estate prices are ridiculous for the relatively small market.
[Photo OsakaSteve]
Will Rich Ross really have a positive impact on Disney's movie operations?
Consumers sick of recession, may spend extra on holidays
Corrections, seasonality and Santa Claus
