Friday, September 30, 2022

And now the shocking conclusion

Great big publicly funded corporate downsizing and stock priming scam that any idiot could have told you was going to be a scam turns out to indeed have been a scam

But now, DXC appears to be scaling back those ambitions. Records show that as of last year, the Virginia-based company had hired just 300 local workers. The company is only occupying three of the 10 floors it leased in the granite Poydras Street skyscraper that bears its name, and is actively seeking to sublet four of those floors.

And last month, Commissioner of Administration Jay Dardenne signed a May agreement between Louisiana Economic Development and DXC that ended an $18.6 million incentive package because of DXC's repeated failure to meet job creation and payroll benchmarks.

The terminated agreement and DXC's lackluster hiring underscore the challenges New Orleans leaders have faced in recent years trying to lure major employers to the city and then keep them here.

"This was going to be a really big thing," said Peter Ricchiuti, a business professor at Tulane University, of the DXC deal. "When you get a big company like this, it spins off other tech entrepreneurs. Even just having a smaller footprint, giving back office space, is not encouraging."

It was never "going to be a really big thing." It was a scam from the beginning and anybody who was not being paid to believe otherwise could see it from the beginning.

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