Sorenson Commuications HQ For Sale

deafaussie

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No, Sorenson Communications is not selling commercial property. They ARE LEASING the whole building for the next 4 years. Its the investment or property owners are selling it.

Does not change anything relating to Sorenson. . . .
 

VacationGuy234

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From the article: "most of them use a text telethon where they can use their own voice"

Is that supposed to be text telephone? Or, is it some other service or product?
 

The Highlander

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It about text based relay not SVRS and old news ... Look at the date -> July 9th, 2013


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That's right it from July 2013. Looks Sorenson lost 150 employees which it a lot and that's why they sell Building to downsize?
 

Tousi

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That's right it from July 2013. Looks Sorenson lost 150 employees which it a lot and that's why they sell Building to downsize?

My understanding is that they(Sorenson) do not own this building; that they are leasing it and the owners want to sell it for 19 million bucks. I wish I can remember where I saw this information......
 

Tousi

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Off topic a little.....I do know that Sorenson is worried about a large payment coming soon (I think in October) and many think it will be difficult for them because this is not the only payment. I vaguely recall that, when things were great, they borrowed too much.....something like 730 million......I will try to get the facts...
 

radioman

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Or maybe because SVRS outgrew their building and they need a bigger building?

.

NO!

They used to be in sorenson media building . There were a bunch of sorenson products/companies on the same street. In media, medical, etc. SVRS had this building built when they first were growing and combine all of SVRS employees in utah . They were spread out all over the state. Rochester had a building built for tech support since they moved 3 times as they were growing that much in 2 years.
I have no idea whats happening in either rochester and utah now, but it appears they had an epiphany and its not good. They are downsizing for sure and consolidating the workforce. Just like kodak and Xerox did. They are not gone, but they will still be there.
 

diehardbiker

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In business world, there is no sense in owning a building. Tax write off is not as attractive as leasing. Most businesses prefer lease over owning for several good reason. Owning requires upfront capital which isn't easy for any businesses come up with. Also, owning property for business would force business stuck in one location until they sell them as opposed as leasing when they can move anytime and whenever needed.

IRS limits how much tax write off on any property owned business, so business can't write off much EVEN if they pay a lot of money as opposed as Lease because IRS sees lease as business have to pay and don't recover so therefore can write off completely on leasing expense.

The fact is that Sorenson NEVER owns any property. For one, I know Sorenson isn't going out of business so quit making up stories cause I know YOU, yes you Chevy57 hate Sorenson with passion and you won't admit why.
 

mikemike

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700+ is the money from the TRS fund. Those nice tax surcharges from everyone 9hearing and deaf) that go to the FCC's TRS fund administrated by a neutral party.


Off topic a little.....I do know that Sorenson is worried about a large payment coming soon (I think in October) and many think it will be difficult for them because this is not the only payment. I vaguely recall that, when things were great, they borrowed too much.....something like 730 million......I will try to get the facts...
 

zerodog

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700+ is the money from the TRS fund. Those nice tax surcharges from everyone 9hearing and deaf) that go to the FCC's TRS fund administrated by a neutral party.

Yes, the last debt I read was 580 million dollars back in March 2013. They have to pay 17% by October mean 98,600,000 if they have not borrowed some more money. So it can mean almost billion dollar by that time because they borrow too much money.

I feel sorry about those people who have house mortgagee, food, and kid to provide them. They are working and serving the customer while Sorenson is did what.. hurt them... It is like those employee earns the welfare from Sorenson money similar USA is giving those people who is on welfare money and borrow trillion dollars.
 

rhr

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I told my friend about what happen? He said "Yeah that building is second one that is owned by Jim Sorenson. SVRS leases that building." becuase his wife's cousin is Jim Sorenson

I think Jim is retired, he want who want sale it
 

qwerty123

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I told my friend about what happen? He said "Yeah that building is second one that is owned by Jim Sorenson. SVRS leases that building." becuase his wife's cousin is Jim Sorenson

I think Jim is retired, he want who want sale it

you talk with someone former work at sorenson?
 
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