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NATIONWIDE APPRAISAL AMC being sued by State for $18M

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Jonsey

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Joined
Feb 24, 2007
Professional Status
Appraiser Trainee
State
Florida
State seeks $18 million for jobs not created

Pennsylvania officials offered Nationwide Appraisal Services Corp. $300,000 in December 1999 to add more than 300 jobs in its Washington County office.

Nationwide Appraisal did not return calls seeking comment. Ortiz said the company blamed the mortgage industry meltdown for its troubles.

http://www.pittsburghlive.com/x/pittsburghtrib/news/cityregion/s_571285.html
 
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Mike Kennedy

Elite Member
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Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Thread Title Correction per article:

Pennsylvania officials offered Nationwide Appraisal Services Corp. $300,000 in December 1999 to add more than 300 jobs in its Washington County office.

It seemed like a good idea at the time.

Eight years and one mortgage market collapse later, Nationwide Appraisal, a middleman between banks and home appraisers, employs 250 people -- 50 fewer than when it got the grant. And the state wants its money back.
Nationwide Appraisal accounts for a fraction of the $18 million "
 

JonGalt

Junior Member
Joined
Aug 4, 2005
Professional Status
Certified Residential Appraiser
State
Illinois
Another company hurt by the mortgage market, National Real Estate Information in Kennedy, got a $500,000 grant in 2004 on the condition it would add 1,105 jobs. The company was promised more than $2.2 million in tax credits tied to those jobs.

It added 465 jobs since then, and DCED is trying to get back $135,000, Ortiz said.

Government should just stay out of business way when it comes to hiring people. If a company gets big enough to need more employees, they will hire them. WTH is government giving them money for to hire more people?!?!

The real scam is that they gave grant money to a company to hire more people, producing more jobs in the state, I guess therefore increasing the tax base. Of course the company they gave money to takes away a great portion of the potential income of thousands of licensed appraisers in the state potentially putting them out of business. :Eyecrazy:
 

Mile High Trout

Elite Member
Joined
Feb 13, 2008
Professional Status
Certified Residential Appraiser
State
Colorado
Nationwide is on your side! NOT

Remember that Jingle??? Nationwide is on the slide!

I agree with less government influence. If the government has so much cash to throw around, mabye we can take back some manufacturing base, and create sustainable jobs with that tax flow. Privatized assistance is just another face of special interest. It's public accountability that brings these issues full circle. I'm sure a host of other not in the spotlight industries have failed to meet similar governmental obligations, after taking the money, but no one knows about it.

Pro-Union!!!.:new_2gunsfiring_v1:
 
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