During a tour of Otto Engineering, a family-run business, Tom Roeser, its president and owner, saw that I had noticed alarm signs, which were in both English and Spanish. “Those are going,” he assured me. Roeser prohibits bilingual signs in his factory, and these signs, which had been put up by an outside cleaning company, didn’t sit well with him. Nearly half of Otto’s 502 employees are Hispanic, and Roeser insists that they learn English. Prospective hires must first pass a language test. He requires supervisors to give instructions in English. He also has a full-time instructor on staff who offers English-language classes to employees; they won’t receive pay increases unless they have achieved a certain proficiency. “If you learn the language, it’s the first sign you’re assimilating” he told me....Hispanics, Roeser told me “are more social. They’re more in your face. So if you live next door to a Hispanic, they probably have more levels of family living there. I’ll call it overcrowding. They may live in a low- income house, so they have only one bathroom, and the men go outside and urinate on the tree. You live next door to this family, and you don’t like that the man urinated outside, and you don’t like the fourth car in the front yard. And you don’t like the loud music and the picnicking, and so what you say is they must be a bunch of damn illegals. But once they’re all legal, you still have the same problem. You need to assimilate them.” And for Roeser, the quickest way to assimilation is to learn the language, which is why he’s so insistent that his company not operate in both Spanish and English. English, you might say, is the official language of Otto.
... and now the whole town depends on his manufacturing company's continued existence. It's not easy to keep manufacturing alive in the US. No?
the problem is deferred, but it becomes larger, because the new debts have to be paid back. Debts must be paid. That's why it's called "debt" and not just "income".
If the town economy will collapse the minute it stops borrowing, then the debts are not payable, and getting back to reality as soon as possible will greatly increase the chance that the town will survive mostly intact.
It's fair to call him a chump because he's destroying the value of his resources. He comes out "whole," but only if you ignore the opportunity cost of not investing that money at a growth rate.
He also has a full-time instructor on staff who offers English-language classes to employees; they won’t receive pay increases unless they have achieved a certain proficiency.
Because each piece of real estate is unique and its valuation is complicated, a detailed appraisal by a professional appraiser is necessary.
The appraiser must be thoroughly trained in the application of appraisal principles and theory. In some instances the opinions of equally qualified appraisers may carry unequal weight, such as when one appraiser has a better knowledge of local conditions.
The appraisal report must contain a complete description of the property, such as street address, legal description, and lot and block number, as well as physical features, condition, and dimensions. The use to which the property is put, zoning and permitted uses, and its potential use for other higher and better uses are also relevant.
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