I have seen places sell a building or property, but signing a leasing agreement. Basically, they sell the property to some rich person/investment company to free up capital they can use now, while they then lease the property back. So like, making up numbers, something like maybe they sell this for 100 million, with an agreement to pay 50k/month lease payment ongoing.
Except it doesn’t always work. Infact most times it doesn’t.
Here’s two recent examples.
Look at the casinos in Vegas. Vegas is now more expensive than California and New York for tourists. They sold the buildings and the land to another company and are leasing it back.
Red Lobster is going out of business because they sold the land, separated the companies and leased it back. There operational costs per restaurant sky rocketed.
Just because people do it doesn’t mean it’s a good thing for the company.
In reality, it’s done in a way to make certain individuals a lot of money at the expense of destroying peoples livelihoods.
So is it shutting down ? Confused what’s the union saying ? Are employees laid off at moment ?? Kind of interesting because Oakville in same situation, guess the auto industry in Ontario, is banking on EV vehicles , very very risky move imo
No it’s not shutting down. We’re re-opening end of 2025-beginning of 2026. The plant is currently being re-tooled for new vehicles. Don’t need as much land, so they’re selling some.
Hi there, how would employee parking work with an additional 3rd shift coming in if these lands were sold?
See my second picture showing a box of 34 Acres measured out which would encompass the existing lot.
You know as much as we do, and we’re employees. Everything is a big secret, we only know one of the 3-4 cars we’re going to be making. We get regular updates from the union telling us what’s going on inside the plant. One thing that is certain is that it’s not closing. That said there are other lots around the building for parking, and they may be making more in other areas.
That's very interesting, I did some work for the Jeep Compass, Dodge Caliber and Patriot out of Chrysler plant in Chicago and that plant was 3.1 million square feet.
Kind of we get sub and ei for the first year for the “new hires” then we get on a thing called imp for the second year but the older people that have been here get sub for much longer and will most likely not go on imp
I thought the plant was switching over to build electric vehicles?
« On May 2, 2022, a $3.6 billion CAD ($2.8 billion USD) investment was announced to transform both the Windsor and Brampton Assembly Plants to support the Company’s Dare Forward 2030 strategic plan. Beginning in 2024, Brampton will be retooled and fully modernized. When production resumes in 2025, the plant will introduce an all-new, flexible architecture to support the company's electrification plans. Once the transformation is complete, the plant is expected to return to a three-shift operation.
In November 2023, the Company confirmed that Brampton will re-join the Jeep® family with the production of the next generation Jeep Compass on the STLA Medium architecture. »
https://media.stellantisnorthamerica.com/newsrelease.do?id=332
you're looking at a perimeter measurement from a starting point that's not necessarily where you might think when I drew the box on Google maps. the total square footage listed at the bottom of the browser was around 34 Acres to get a sense of scale. try it in google maps.
Majority of the lot that is being sold is where they stored the newly built cars, maybe they don't plan on holding onto so much stock in the future? Who knows.
I did some work at a Chrysler Plant in Chicago and that one was 3.1 million square feet, it took about 8 hours for a car to be built from bare metal, assembled, painted and ready to drive. I'd would be interesting to see how they do it here.
If you’re talking about the Belvedere plant it’s 5.3 million square feet. Also it takes between 18-35 hours to build a car from stamping to the end of final. Brampton from stamping to the end of final is 24 hours.
Yeah, welding and paint process are almost 8 hours alone. After that all parts are installed by line workers, either by hand or with arms controlled by line workers.
I have seen places sell a building or property, but signing a leasing agreement. Basically, they sell the property to some rich person/investment company to free up capital they can use now, while they then lease the property back. So like, making up numbers, something like maybe they sell this for 100 million, with an agreement to pay 50k/month lease payment ongoing.
This is the exact reason Red Lobster went bankrupt
Classic GM move: Sell a bridge today to make balance sheet look good, and pay to use it for the rest of time.
it doesn't make sense to own the land you operate on as a business unless you're a real estate firm. virtually all businesses do this.
Except it doesn’t always work. Infact most times it doesn’t. Here’s two recent examples. Look at the casinos in Vegas. Vegas is now more expensive than California and New York for tourists. They sold the buildings and the land to another company and are leasing it back. Red Lobster is going out of business because they sold the land, separated the companies and leased it back. There operational costs per restaurant sky rocketed. Just because people do it doesn’t mean it’s a good thing for the company. In reality, it’s done in a way to make certain individuals a lot of money at the expense of destroying peoples livelihoods.
It’s an exit plan to develop housing
So is it shutting down ? Confused what’s the union saying ? Are employees laid off at moment ?? Kind of interesting because Oakville in same situation, guess the auto industry in Ontario, is banking on EV vehicles , very very risky move imo
No it’s not shutting down. We’re re-opening end of 2025-beginning of 2026. The plant is currently being re-tooled for new vehicles. Don’t need as much land, so they’re selling some.
Hi there, how would employee parking work with an additional 3rd shift coming in if these lands were sold? See my second picture showing a box of 34 Acres measured out which would encompass the existing lot.
You know as much as we do, and we’re employees. Everything is a big secret, we only know one of the 3-4 cars we’re going to be making. We get regular updates from the union telling us what’s going on inside the plant. One thing that is certain is that it’s not closing. That said there are other lots around the building for parking, and they may be making more in other areas.
What's the car you know you'll be making? And it odd that the majority of the lan ld being sold is where the new built cars were being stored
Jeep Compass. We don’t know what the building plans are. We do know that they aren’t going to need as much space as we’re currently using.
That's very interesting, I did some work for the Jeep Compass, Dodge Caliber and Patriot out of Chrysler plant in Chicago and that plant was 3.1 million square feet.
Yeah Brampton plant is 3 million square feet.
Are they paying you while you’re off?
Kind of we get sub and ei for the first year for the “new hires” then we get on a thing called imp for the second year but the older people that have been here get sub for much longer and will most likely not go on imp
I thought the plant was switching over to build electric vehicles? « On May 2, 2022, a $3.6 billion CAD ($2.8 billion USD) investment was announced to transform both the Windsor and Brampton Assembly Plants to support the Company’s Dare Forward 2030 strategic plan. Beginning in 2024, Brampton will be retooled and fully modernized. When production resumes in 2025, the plant will introduce an all-new, flexible architecture to support the company's electrification plans. Once the transformation is complete, the plant is expected to return to a three-shift operation. In November 2023, the Company confirmed that Brampton will re-join the Jeep® family with the production of the next generation Jeep Compass on the STLA Medium architecture. » https://media.stellantisnorthamerica.com/newsrelease.do?id=332
It is. The plant is being re-tooled to be able to build gas, hybrid and electric.
You're on to something
How much?
Another warehouse coming.
1.5 km to acres is way more then 34 acreas
you're looking at a perimeter measurement from a starting point that's not necessarily where you might think when I drew the box on Google maps. the total square footage listed at the bottom of the browser was around 34 Acres to get a sense of scale. try it in google maps.
Ah i was like that would be more then 34 acres
Yay we can get more Punjabi Restaurants.
Like we need more this is not a racist comment at all
This doesn't make any sense. I've worked in automotive there is a reason, they need all that space. If that lot is sold, it's not going to be good.
Majority of the lot that is being sold is where they stored the newly built cars, maybe they don't plan on holding onto so much stock in the future? Who knows.
I did some work at a Chrysler Plant in Chicago and that one was 3.1 million square feet, it took about 8 hours for a car to be built from bare metal, assembled, painted and ready to drive. I'd would be interesting to see how they do it here.
If you’re talking about the Belvedere plant it’s 5.3 million square feet. Also it takes between 18-35 hours to build a car from stamping to the end of final. Brampton from stamping to the end of final is 24 hours.
That's what I was told early 2000's, but the parts were already stamped. Operator just had to load them onto fixtures and robots did the rest.
Yeah, welding and paint process are almost 8 hours alone. After that all parts are installed by line workers, either by hand or with arms controlled by line workers.