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Wal-Mart is not going to give up on American Canyon. We have too much to offer them. They have started carrying more expensive brands and placing their stores in better neighborhoods. Wal-Mart is nicer than Target stores are now. They may put one in Vallejo, but I only pray that means there will be two instead of not putting one here in American Canyon. We need the revenue and a nice place to shop.
BUY AMERICAN MADE, SHOP AT WAL-MART Just like the Wal-Mart smiley faces!!!! Cutting prices every day!
I hope they WIN on Monday and make that group of three people who don't want them PAY BACK ALL OF THEIR LEGAL FEES.
Then all of those people who have said that our council screwed up should have to publickly apologize. Our elected officials do the best they can. They were just trying to brng in a store that fits all of us where we can get everything! Poor council members have just had to take all of the bad mouthing and say nothing. I SAY THANK YOU TO OUR PREVIOUS COUNCIL FOR HAVING THE GOOD SENSE TO APPROVE WHAT WILL BE A GORGEOUS PROJECT
THANK YOU LUPORINI
THANK YOU COLCLEASER
THANK YOU SHAVER
THANK YOU ANDERSON
THANK YOU GARCIA
There are many of us who have not forgotten how hard you worked to get us a great store in our community!
We vote for a council to make decisions for us when we don't have time to pay attention to every little detail. I think they did a great job and we don't need to vote on every single tiny issue. That is what council is supposed to do.
OUR COUNCIL VOTED THE WAY THAT MOST OF THE PEOPLE WANTED THEM TO. I AM SORRY THAT THERE ARE A FEW UNION MEMBERS AND A COUPLE OF TOO-GOOD- FOR-WAL-MART PEOPLE WHO DON'T WANT IT. BUT WE DO. SO GET OVER IT!!!
There are other communities who won't let in Wal-Mart, move there if you don't like the choices OUR ESTEEMED COUNCIL MAKES.
We elected a council who did the best they could for American Canyon. THANK YOU FORMER MAYOR LUPORINI AND THE REST OF THE PAST COUNCIL. YOu did right by American Canyon and we will remember, in spite of these lawsuit happy unions who just try to delay, delay, delay.
I think the problem is that some of you people don't know know how nice Supercenters really are. You haven't seen them. They are a wonderland of low-cost shopping. There is really great stuff in them and they are clean and nice. They welcome old people who travel in their motor homes to camp out. They are just friendly, happy places.
Funny, I went to Sacramento yesterday and they are building a brand new on in West Sacramento. That sounds like growth to me.
They are in escrow on the old Wal-Mart and there will be no closed stores in Vallejo like the no Wal-Marters claimed. Everything that they claim in their lawsuit is bunk. The studies were done and the proof is in the pudding. The old building is being sold to Home Depot and Wal-Mart is coming to American Canyon.
Ok for you who refuse to do your homework. You can contact Home Depot Corporate Offices in Georgia. You don't understand how NO GROWTH works. Any stores that are in the works will continue to be built, they just will not plan any NEW stores to be built. The Walmart building is OWNED by BIG LOTS and Walmart is on a month to month. The old KMART Building cannot be occupied by Walmart unless citizens of Vallejo take a vote change the ordinace from Residential Mixed Use to Commercial Only.
Please quit spouting off more Walmart Propaganda and do YOUR HOMEWORK!!!
Let me tell you, Walmart sells guns, and guns lead to crime. You all think that this supercenter will somehow be good for your town. Well WM sells guns. You want more guns here. It ain't no good to have guns. What you gonna hunt here?
WM don't give a rats butt about you people. WM cares about making money . They keep the help poor living on the edge of poverty. Go look at the shoes. A WM employee usually has bad shoes. If you cannot afford good shoes then you are poor.
WM devastated the midwest with politics. In our town where I am from the WM put some of my friends out of business. Ain't no jamba juice where I come from.
I work for Home Depot and we are not in nogrowth mode. The west Sacramento Store has only just been approved and we are in negotiations all over the state for new sites. The real estate guy told me about a couple of places he was scoping out in souther cali. Many in northern Cali to including 2 in San Jose and Sunnyvale, where I hope to transfer when or if they open.
I am not the CEO, but we have heard nothing about no-growth. I also believe that the rumors about going in to the wallmart building is bullpoop. But we are defanitily not in no growth.
"Let me tell you, Walmart sells guns, and guns lead to crime. You all think that this supercenter will somehow be good for your town. Well WM sells guns. You want more guns here. It ain't no good to have guns. What you gonna hunt here?"
there's gonna be trouble, right here in River City, With a capital t and that rhymes with G and that stands for Guns...
The final flaw in the bear thesis is that Home Depot's growth is tied to initiatives that extend beyond end consumers with fickle fiscal fingers. Home Depot is now selling directly to home builders in many markets, and operates distribution channels for contractors, housing and hospitality management firms, and other third-party retailers. But even if you accept the idea that the home-improvement market will cool down, Home Depot has plenty of room to increase its share. Currently, the firm estimates that it has only 12% of the existing U.S. market. Initiatives like appliance centers, tool and equipment rental, and contracting services offer other growth opportunities. Home Depot is also exploiting newly acquired expansion opportunities in Mexico and will soon try the same in China.
In summary, analysts are predicting EPS growth in the range of 12%-13% annually for the next few years. I think the firm could well do much better than that. But since hubris can be fatal (just ask any of Shakespeare's leading men), I'm going to assume that Home Depot will actually underperform those expectations.
Valuation
I'll be the first to admit that putting a price tag on Home Depot isn't easy. Traditional "value-guy" metrics and estimates, like a straightforward discounted cash flow (DCF), won't hold up well. That's because Home Depot is still spending so much on growth.
For example, cash flow from operations was a hearty $6.9 billion in 2004, but of that total, $4.7 billion was plowed back into the business for capital expenditures (capex) and acquisitions. Taking $2.2 billion as our strict free cash flow (FCF), and plunking the rest of Home Depot's numbers into our handy Inside Value DCF calculator yields an unsavory result. Assuming conservative earnings growth, 10% per year for the coming five years, then 5% and a 3% terminal rate, we arrive at an intrinsic value of only $21. Bummer, shares are about $37 each.
But is it really fair to judge Home Depot this way? Another approach would be to give the firm a "free pass" on the growth-oriented capex. Essentially, we sort of pretend that the money spent on growth is as good as plain old cash -- and with a 19% return on capital, and the idea that Home Depot won't need growth capex at these levels in perpetuity, that's arguably a fair bit of valuation "cheating." (Just be aware that we are fudging things a bit here.)
To do this, we need to calculate FCF subtracting only maintenance capex. How could we come up with this fake capex? A couple of shortcuts give very similar figures. Home Depot estimates that 80% of its capex is for growth, which would leave $5.52 billion in adjusted FCF. If you simply add back depreciation and amortization -- the GAAP surrogate for capex -- you arrive at $5.58 billion. Let's use the smaller number. Using the same growth and discount rates as above, this time our DCF calculator comes up with an intrinsic value of $53 per share, or a 30% margin of safety at today's prices.
Home Depot will not be building a 2nd location in Vallejo. They also are closing out all of their Home Expo locations because they are not profiting. They are looking for another area for their San Rafael Location because the building is sinking. From what I understand they are in a No Growth mode. So what does this mean. Any areas that have been already PLANNED will be built. So lets say they have already in the plans to build 100 more locations in select areas. Already submitted applications etc. Those locations will be built.
For the person who stated walmart sells guns. Walmart can no longer sell guns in the state of California. The were fined heavily for selling guns without running background checks. Therefore, Walmarts priviledges were revoked by the CA DOJ. Many people are avid gun collectors. I myself enjoy shooting every now & then. I was a sharpshooter in the military.
As for all Walmart we will have our day in court on Monday. Then we will see if the city followed all the guidelines.
I can't wait until the light is shed on the council who approved this stupid project. There is NO WAY that this thing is legal. WHO BELIEVES THAT THERE WILL BE NO TRAFFIC IMPACTS? WHO BELIEVES THAT BREAK ROOMS AND STORAGE DON'T COUNT AS SQUARE FOOTAGE?
WHO believes that a 200000 Square foot store will have NO IMPACT on other biz? The council treated us like they think we are fools!!!!
The day is coming and the entire council should have to face up to their HORRIFIC mistakes. I just hope the corruption and payoffs surface sooner rather than later. I think our former mayor and many council members should have to serve time for this. There is something funny about the whole thing. Someday the truth will come out and the payoffs and dirty politics will be made public. HEADS ARE GONNA ROLL
No SPRAWLMART wrote:I can't wait until the light is shed on the council who approved this stupid project. There is NO WAY that this thing is legal. WHO BELIEVES THAT THERE WILL BE NO TRAFFIC IMPACTS? WHO BELIEVES THAT BREAK ROOMS AND STORAGE DON'T COUNT AS SQUARE FOOTAGE?
WHO believes that a 200000 Square foot store will have NO IMPACT on other biz? The council treated us like they think we are fools!!!!
The day is coming and the entire council should have to face up to their HORRIFIC mistakes. I just hope the corruption and payoffs surface sooner rather than later. I think our former mayor and many council members should have to serve time for this. There is something funny about the whole thing. Someday the truth will come out and the payoffs and dirty politics will be made public. HEADS ARE GONNA ROLL
Is the Judge also going to decide tomorrow whether or not there will be a McDonalds inside Walmart? Everyone is worried about having two Walmarts so close together, what about having two McDonalds so close together. Since Walmart is from the South maybe they can put in a Hooters instead of the same old McDonalds they have in every store.
The proposed walmart will have 3 restaurants, Hair Salon, Floral Shop, Bakery, Deli, Nursery, Automotive Repair Shop, Tires, Clothing, Furniture, housewares, and grocery store. That is why they call it one stop shopping.
I attended the walmart hearing yesterday. It was great to watch. It could take up to sixty days for the judge to render his decison. I just hope that what ever side wins that people will not rub it in. We should all pray for the judge as this is a difficult decision.
What if Walmart said were not putting in a SuperCenter were putting in a Sams Club instead? Would that still bother most citizens. I think it would be a win for both sides. Walmart gets a store here, and anti Walmart residents dont get a SuperCenter. I think Sams Club could be a good solution.
I would be shocked if Wal-Mart would consider using the space for ANYTHING other than a SWM. Now, I have no way of knowing this and nothing even remotely resembling insider knowledge, but the story of the last 5 years' of Wal-Mart growth in CA seems to have a single track: find any community willing to let them set up a Super Wal-Mart and execute its construction as quickly as possible. I don't think the intent here is just to get one more store (after all, there already is a WM just 2 miles down the road), it's to continue establishing a toehold for SWM in California.
Wal-Mart announced in 2002 that they wanted to build 40 new Supercenters (specifically supercenters) in California over the following 4 to 6 years. Three years later, however, they still only have about 3 supercenters in the Golden State...compared to 1,700 nationwide. So Cali represents the largest untapped resource for their supercenter expansion.
So yeah... WM is a huge company and extremely successful, but in order to keep investors interested you gotta grow, baby grow! So...stateside, California is where it's at.
And before you shed too many tears for Wal-Mart, realize that their expansion is NOT limited to the US. According to Wal-Mart International's page, they have operations in Canada, UK, Germany, Argentina, Brazil, Japan, China, South Korea, Mexico and Puerto Rico and are growing all over.
Now, why must US expansion be supercenter-only? That's a good question...and one I don't have time to research right now. Back to work for me, I'm afraid...
merryjester wrote:
Now, why must US expansion be supercenter-only? That's a good question...and one I don't have time to research right now. Back to work for me, I'm afraid...
Supercenters are their best performing format. They bring people in with below-cost groceries and then capture their profits with cheap, plastic garbage made in China. Of course, by blood testing and firing pregnant employees, working children for a nickel a day and forcing free overtime by locking employees in, they are able to PASS THE SAVINGS ON TO US! That is purchasing power at its finest.
God it's great to live in America where we can have choices like that! GIVE ME SOME CHEAP PLASTIC CRAP! Now shut that kid up and tell him to get back to work, he can use the toilet on his own time!
Have you seen the Napa Junction Center lately? It is looking really good. Roadways are going in, street lights are going up. They even have really nice old fashioned parking lamps installed. There's even a structure being built in one corner. Soon grass will be growing and trees will be planted. Soon WALMART SUPERCENTER will be thriving and American Canyon will once again be a happy community. I can picture it now, and see small town Americana at its best.
I can't wait either for the Wal-Mart Supercenter, crime will rise, the two apartment buildings will become section 8 to house the workers, the hotel will become a no-tell motel, the people living in the parking lot will be able to grab a jamba juice and cash thier checks at the check-n-go. Glad I don't live by it...imagine not having to use your porch light at night. Yea baby!! Who da thunk that the biggest Meth Lab city in the North Bay would get a 24 hour shop till you OD shop.... Better lock your doors folks and load your guns your gonna need them. Oh and by the way if you don't have a gun, don't worry Wal-Mart has a nice and cheap selection of 'em.
person who stated walmart sells guns. Walmart can no longer sell guns in the state of California. The were fined heavily for selling guns without running background checks. Therefore, Walmarts priviledges were revoked by the CA DOJ
And this is what we want here? A company with over 2000 documented violations of violating california gun control laws...so bad, the dept of justice steps in.
Has wal mart put ephredrin drugs behind the pharmacy counter yet? This is the main ingredient used to make Crystal Meth-Crank-Ice- one of the most destructive drugs of our time- right up there with crack cocaine.
Linda is right on the money- Walmart no longer sells guns in CA -because the state shut them down- and walmart has yet to come up with a plan to begin selling guns that is acceptable to the state.
The LAST THING WE NEED in AMERICAN CANYON is a GUN STORE!!!
Paul Maguire wrote:And this is what we want here? A company with over 2000 documented violations of violating california gun control laws...so bad, the dept of justice steps in.
Has wal mart put ephredrin drugs behind the pharmacy counter yet? This is the main ingredient used to make Crystal Meth-Crank-Ice- one of the most destructive drugs of our time- right up there with crack cocaine.
Linda is right on the money- Walmart no longer sells guns in CA -because the state shut them down- and walmart has yet to come up with a plan to begin selling guns that is acceptable to the state.
The LAST THING WE NEED in AMERICAN CANYON is a GUN STORE!!!
Just remember it ain't over until the fat lady sings.
I love the statement on the last paragraph, page 14 of the judgement "And, although the City did abuse its discretion in the application of three of its zoning laws....."
It finally proves what many of us having being saying all along. The City Council was not look out for the greater good of people and just looking out for the next big number box.[/b][/i]
Come on lets be a little more positive. Were going to have a beautiful shopping center. Saying the apartments there are going to turn into section 8 is like saying that La Vigne is going to turn into the Crest. Were going to have vital shopping that the community needs and it will be beautiful. It will only turn into crap if you let it. And I dont think we'll let it.
In todays Times Herald article, Wal-Mart now claims they are vacating thier current store in North Vallejo. Home Depot claims to have made a deal to move in.
Gee, if my memory serves me correctly, Wal Mart claimed they would keep BOTH STORES to overcome the objections of those in the community of moving the problems of that store to our city.
Anonymous wrote: Saying the apartments there are going to turn into section 8 is like saying that La Vigne is going to turn into the Crest.
Sorry guest I guess you don't know that the 216 apartments is part of our great land deal with Napa. We fill the 394 low-income housing needs because nobody in Napa wanted low-income housing near their property. In turn they gave us property.
The 216 fills a little over half of the low/very low income requirements. Since most county housing authorities haven't done a great job ensuring drugs & crime stay out of the projects I don't forsee Napa doing a better job either.
Since the approval I have not heard one plan to keep the project a safe place for people to live at any of the city council meetings either.
Hamilton Air Force base in Marin built beautiful low-income housing 2 years ago and they are having major problems today.
From the Napa Register Saturday, June 26, 2004, Wal-Mart spokeswoman Amy Hill is quoted as saying "Hill said there are no plans to shut down either store if the Supercenter is built." and went onto say "We don't see a lot of impact for either store,"
So if the AmCan Wal-Mart will not impact Vallejo why are they doing the relocation and why does Wal-Mart want to build another Supercenter at the old Kmart sight?
SO, the conclusion then is that this approval by the Planning Department and the City Council was in part based on false or misrepresentation by Wal Mart! Seems to me that if they were not forthcoming about that, they were likely not forthcoming about other facts as well.
The entire approval should be thrown out. The council and planning commission should not accept nor tolerate such misrepresentations.
Similarly, the council approved 35 mobile homes on Theresa Lane- with the representation that the builder would sell them for a certain amount and provide affordable housing. Then the developer put the project up for sale, with no intention of building it.
Then again, Canyon Rock apartments, represented that by Spring they would have started the project and worked on teh corner of AC road and highway 29- they got major changes in zoning and variances- did a big song and dance about this wonderful project- AND- are selling the land and not evening doing the project-
OF the 3, the last two can certainly sell their property, however th Theresa lane deal represents the homes at much higher prices than presented to the council.
But hte biggest misrepresentation is Wal Mart. This was a significant issue for residents, who were assured that the problems in Vallejo store would not be coming here; 'we see ac and vallejo as two seperate markets' proclaimed Wal Mart, when this concern was raised again and again.
Residents of American Canyon agree they are two seperate markets- Vallejo has a bankrupt school district with results that demonstrate complete failure, prostitution on its streets along Solano Blvd, drug problems, many neighborhoods in decay, and other big city ills.
American canyon has thriving schools and is growing, newer homes, a smaller town feel, and a hope and expectation for developing into an outstanding newer city. We do not have the crime problems of Vallejo.
AND , residents dont want them. The concern is that with the closing of the Vallejo store, that the small minority that makes up the undesired "element" will be coming to American Canyon- standing in line swearing, loitering, drinking outside, writing graffitti in the bathrooms or on the buildings.
The concern is too that if Wal Mar misrepresented about this juicy and important fact, whatelse did they misrepresent about?
Once the 50K is gone that they put up to pay for any enforcement fines, who says Wal Mart will replenish it or pay. What they could do is get their corporate attorneys to come after our city, and our city would back down, because this city cannot afford a judgement or the litigation costs.
Wal Mart clearly misrepresented about two locations and two markets, and that tells me, we are headed for more of the same from this chain.
I certaintly understand about having some of the undesireable element coming to ac. But, ACPD is very different than the VPD. VPD could really care less about what's going on in Vallejo, your lucky to get a response from the VPD and if you do they do jack @$%#. So far at least with my experience with ACPD, if you call they will come and should be fast enough to catch them in act (as far as walmart is concerned). Also, if Walmart is putting a supercenter where the old kmart was than it will only be temporary. Even if they kept the walmart in vallejo, we have a supercenter, vallejo residents will still come to ac, or didn't you realize that???? so it really doesn't matter. That should have been just common sense! Unfortunatly, most big business misrepresent, lawyers misrepresent, doctors misrepresent, we live in a soceity of misrepsentation.
Paul I agree with you. But what the last posting guest doesn't know is that the city council just agreed to put 2 more officers and a school officer on duty for 2005 - 2006. That is just what is required for the population increase and it still isn't enough because of the growth.
The average supercenter uses enough hours with all of its related calls (crime, shoplifting, checks, etc.) to equal 3 full-time officers. So the guest that currently enjoys the police showing up (which by the way is not the case all over the city) will soon experience a decline in service. Especially with a 24 hour open store.
After all, the use requirements didn't have a requirement for 24 hour onsite security. Just another inexperienced oversight. But then again when you have the blind leading the blind, not only can they not see... they don't listen.
Oh and by the way the only Vallejoans who will be shopping in A/C are those who live on the Mini Drive area and South of Kimberly, that's who I want in my town. Maybe the police department can subsidize A/C's police department. Nah, they need the money for the going away party when the store leaves.
Vallejo isn't dumb either, recognizing that it is a financial drain they are now taking precautions to make sure it doesn't happen again with the passing of a big box ordinance making the mitigation mandatory and not a burden on the community. Unlike the first time. And since Wal-Mart is the biggest culprit they are really happy to see the eyesore go.
I am really getting sick of this walmart thing. Just do a poll, put a simple question "do you want walmart?". Figure out the results, if the majority wants walmart then build it, if they dont, then tell walmart to go to hell. Why cant the city council do this, maybe then we'll know what the citizens think and not what some hotshot "developer" thinks or walmart official or union group or any other speculations!
Send every household in American Canyon a letter with a response card, postage paid, and just put "Would you like a Walmart in American Canyon?". Put two answers, "Yes", and "No".
Let me describe the process in more detail for you all:
1) Resident comes home from hard day of work, gets mail from post box
2) Resident goes "oh, letter from city, must be important"
3) Resident opens letter by method of choice
4) Resident reads letter that says "Dear Resident, do you want a Walmart?"
5) Resident circles with a pencil "Yes" or "No"
6) Resident puts response card back in postage paid envelope taking a total time of 1 minute to read, respond, and enclose
7) Two weeks later city counts response cards
8) City tells residents of results during a city council meeting
9) If 50.00000001% want Walmart, build it, if 50.00000001% dont want it, then dont
10) No more arguing, case is closed!
"Although Mr. Joseph noted that the (American Canyon) Safeway was at risk of closure, he opined that it could likely withstand Wal-Mart's competition if it shifted its strategy to target the city's growing upper and middle class," the decision stated.
I just love this quote from the Eagle by Mr Joseph! So I guess its settled, all you poor amcaners shop at walmart and all you rich amcaners just shop at safeway for your groceries.
They already did a poll in the Napa Register and the Vallejo Times Herald and the majority wanted the Super Walmart Center built. So a vote of the people would be in favor of the store being built. But even after the victory there would still be residents who fight it and protest it and appeal it and waste everyones time. So in the long run a vote would just be a waste of time.
Anonymous wrote:They already did a poll in the Napa Register and the Vallejo Times Herald and the majority wanted the Super Walmart Center built. So a vote of the people would be in favor of the store being built. But even after the victory there would still be residents who fight it and protest it and appeal it and waste everyones time. So in the long run a vote would just be a waste of time.
They already did a poll in the Napa Register and the Vallejo Times Herald and the majority wanted the Super Walmart Center built.
Guest, this statement is false.
The Napa Register did a poll, the one perhaps you have mentioned; they posted their results on August 7th, 2004:
"But then we mentioned the W-word. When asked whether respondents want a Wal-Mart Supercenter in American Canyon, the nay's outnumbered the yeas 56 percent to 44 percent."
As far as I remember, there was no poll in the Times Herald.
Finally, according to the poll on my site that has been running for about close to two years, as of right now its 57% against Wal-Mart and 43% pro.
There was also a forum on Walmart, I was looking for the meeting notes but could not find them on the official city site, but if you look through them, it was around a 6 to 4 ratio against walmart. Based on the comments on these forums you can see this as well. Our last election, a voice against Walmart won the majority of the votes to win the city council.
So therefore your claim is false - the fact remains - the majority of residents do not want a Super Walmart. The only people claiming the majority want this building is Walmart. Did they ask all the citizens? How do they know this?
So therefore your claim is false - the fact remains - the majority of residents do not want a Super Walmart. The only people claiming the majority want this building is Walmart. Did they ask all the citizens? How do they know this?
Now you cant prove that! This is only the people who come online to do this stuff....what about the extensive amout elderly who dont even know how to turn a computer on? Granted there are a number who would be against Wal-Mart. BUT from what i have seen...most of the elderly actually want it!
