EL Picador corrects the Journal

Leave it to your trusted source EL Picador to do the real investigative journalism. Recall yesterday's post, where El Picador questioned the WSJ's claim that a village Starbucks would turn over $56,000 in GRT revenue to the village per year. Turns out El Picador's skepticism was well founded, and the discrepancy between the WSJ/village administration claim and the truth is even larger than even the cynical EL Picador had imagined!

A quick internet search revealed average Starbucks per store gross revenue of $970,000 (Source: Seattle Times, Oct 2006). A visit to the tax.state.nm site reported Los Rancho's total GRT take is currently 6.6875%, of which 5% goes to the state. That would leave 1.69% of 970,000 as the REAL LR GRT take from a Starbucks. Plug it into your calculator, and you get a little south of $17,000 of tax revenue per year. That's a long, long way from the $56,000 that the WSJ reports would be coming in. But that is what happens when you rely on a single source (one probably wearing a bad rug) for your information, instead of doing real research.

So save yourself the two bits, and read the Picaresque instead of the WSJ---if you really want to know what is going on!