The warehouse operator will claim it on Insurance so they are not out of pocket.
Insurance will sue the person who started the fire and can never pay off the debt so the debt will be written off after a decade of near to no payments and get a healthy tax deduction for it.
The only person to loose out will be the workers who are now out of a job, the tax payer who receives less taxes paid due to the write off and the loss of sales tax.
Jesus Christ I’m tired of people not understanding what a write-off is.
It’s a reduction in taxable income, not a tax bill. If your tax rate is 20 percent and you write off a $100 loss, your tax burden is reduced by $20, resulting in a net loss of $80.
You can’t just make massive losses go away with a write-off.
Correction: The arsonist set some small fires, which triggered the sprinkler systems, which had firefighters come to turn it off and try to prevent water damage.
They then set about 4 bigger fires away from any prying eyes with the sprinklers turned completely off, which spread so fast that the firefighters present declared it a lost cause and called for reinforcements.
Exactly, people act like the ones who consider paying a living wage too much skin off their nose won’t flinch if suddenly a massive distribution center in a large city’s profit vanishes overnight. That’s lots and lots of impact to the bottom line lol
funny thing about insurance. they don’t like to pay. they really don’t like to pay when incidents are avoidable.
if this continues to happen, it will become a metric that liability companies will begin to track.
if employers are underpaying their staff, the insurance companies will increase the premiums since the management of the company is a high liability to underwrite. that or we’ll start to see underwriters drop contracts entirely because of the high risk low reward.
It’d honestly be hilarious to watch the stand-off between massive insurance companies and massive retail conglomerates go down. Who will emerge victorious as the ultimate capitalist greed champion~! Lmao
Depends.
The warehouse operator will claim it on Insurance so they are not out of pocket.
Insurance will sue the person who started the fire and can never pay off the debt so the debt will be written off after a decade of near to no payments and get a healthy tax deduction for it.
The only person to loose out will be the workers who are now out of a job, the tax payer who receives less taxes paid due to the write off and the loss of sales tax.
Jesus Christ I’m tired of people not understanding what a write-off is.
It’s a reduction in taxable income, not a tax bill. If your tax rate is 20 percent and you write off a $100 loss, your tax burden is reduced by $20, resulting in a net loss of $80.
You can’t just make massive losses go away with a write-off.
It’s almost as daft as people thinking they’ll lose out by going into a higher tax bracket
The messaging value is infinite, nonetheless.
I read that they turned off the fire suppression system to try to avoid damaging inventory while fire fighters tried to put out the fire.
Perhaps there’s a chance that the insurance company will try to use that to avoid paying off the claim.
Correction: The arsonist set some small fires, which triggered the sprinkler systems, which had firefighters come to turn it off and try to prevent water damage.
They then set about 4 bigger fires away from any prying eyes with the sprinklers turned completely off, which spread so fast that the firefighters present declared it a lost cause and called for reinforcements.
Interesting. I wonder if the exact method may become common knowledge, helping force Walmart to consider paying a living wage…
The trick is to keep doing it, making it too expensive for insurance to continue covering it, and denying the company insurance.
The company is out a whole bunch of product and is down a warehouse to store it. It’ll affect their distribution efforts negatively.
Exactly, people act like the ones who consider paying a living wage too much skin off their nose won’t flinch if suddenly a massive distribution center in a large city’s profit vanishes overnight. That’s lots and lots of impact to the bottom line lol
funny thing about insurance. they don’t like to pay. they really don’t like to pay when incidents are avoidable.
if this continues to happen, it will become a metric that liability companies will begin to track.
if employers are underpaying their staff, the insurance companies will increase the premiums since the management of the company is a high liability to underwrite. that or we’ll start to see underwriters drop contracts entirely because of the high risk low reward.
It’d honestly be hilarious to watch the stand-off between massive insurance companies and massive retail conglomerates go down. Who will emerge victorious as the ultimate capitalist greed champion~! Lmao