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sellwinerugs OP t1_iu976qj wrote

>>The outdoor clothing and gear store at 700 South Caroline St. in Fells Point, on the border of Harbor East, is the California-based company’s biggest store yet, and its sixth outlet in the country. The first location in Maryland, the 15,000-square-foot store will include current and past season products, provide grants for non-profits that do environmental work and serve the community. Patagonia Baltimore has already quietly opened, operating from 11 a.m. to 7 p.m. since last week, but will have an official grand opening event Nov. 5 and 6.

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bono_my_tires t1_iua3n2q wrote

Whoah didn’t realize it was an outlet location too. Sounds like they’ll have some pretty solid prices for past seasons gear then?

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papajim22 t1_iua5jb9 wrote

I know Patagonia gets a bad rep for a variety of reasons, but they make high quality clothes and gear. Their work shirts made of hemp are great and have a relaxed fit, and are one of the only shirts I’ve found that fit me well and I feel comfortable in.

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bono_my_tires t1_iua660l wrote

People who give them a bad rep are just misinformed. For a while they were the poster boy for rich Silicon Valley VC’s who all wore Patagonia vests with their company logos. Patagonia straight up stopped selling them vests in this way because of it lol.

And agreed all their stuff is good quality. They’ll even repair old worn out stuff that has holes if you send it back.

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PunctiliousCasuist t1_iubnzu6 wrote

If you don’t mind my asking what’s the bad rep about? I’ve only ever heard good things about them tbh, unless the criticism is as broad as “they’re an international company that makes stuff and owning stuff is bad.”

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A_Damn_Millenial t1_iubtq9d wrote

Corporations will not save the planet. There are no good billionaires.

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why_grapefruit_why t1_iubw3oa wrote

But dude the Patagonia guy is literally the best of the billionaires. Like if they all did what he did then maybe we’ll survive the apocalypse

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A_Damn_Millenial t1_iuc0kno wrote

>if they all did what he did then maybe we’ll survive the apocalypse

I hate to break it to you, even the good billionaires and their corporations won’t save us. They wouldn’t be billionaires if they were truly so selfless. All Chouinard did was find a way to avoid paying his fair share of taxes while getting a buttload of good press.

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theghostofm t1_iud1ph1 wrote

I don’t disagree with what you’re saying, and neither does Yvon Chouinard, the founder of Patagonia: He, last month, literally gave the company away saying “earth is our only shareholder now,” and believes “every billionaire is a policy failure.” (Link)

He and the company have a long history of this.

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todareistobmore t1_iudk62z wrote

> He [...] believes “every billionaire is a policy failure.”

In context, this is an excuse. He gave the money away to a nonprofit his family controls to dodge estate taxes. On its own I don't think it's more than normal superrich tax avoision, but it's one of the policy failures the saying is usually meant to include.

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A_Damn_Millenial t1_iudcokt wrote

You’ve swallowed the bullshit PR story, full bait and hook. This move saved him over a billion dollars in gift taxes if he were to transfer the company to his family traditionally. This was a genius way to ensure his family maintains control over the company and can discretely wield immense political power for generations to come.

The article doesn’t tell you that he gave 98% of the company away to a new 501(c)(4) called The Holdfast Collective and 2% (with the voting shares) to another new organization called The Patagonia Purpose Trust. He and his family own the later, meaning they still control Patagonia.

But why would he do that? Well, it’s the way you reduce a 1.2 Billion tax bill down to 17 Million, can still control the board of the company, and then use Patagonia profits to fund a 501(c)(4).

501(c)(4)s are not your typical charity - they’re allowed to donate to politicians, PACS, and even directly campaign. He effectively turned Patagonia profits into a new lobbying side hustle with zero transparency, and one can assume that he and his family will run it. No income tax, capital gains tax, or gift tax. (One has to make this assumption as there’s currently ZERO transparency about The Holdfast Collective.)

There are no good billionaires. Chouinard and his family are obviously not the worst - but they’re not going to save us. I’d still recommend their products, if you can afford them, but please understand that the media has been fleeced by Patagonia’s great PR, generally excellent environmental practices, and the everlasting hope that there’s actually some decent rich people out there.

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Ill-Consideration974 t1_iudf3pm wrote

So you think the only good people out there are middle class, poor or other non rich classes? Or are humans just inherently terrible?

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A_Damn_Millenial t1_iudi8dw wrote

There are good rich people. However, the level of wealth billionaires have amassed is disgusting and disgraceful. No individual should control that much wealth, and I’m unaware of a billionaire who hasn’t caved to the pressures to hoard.

Billionaires should pay significantly more taxes than they currently do, and I’m fucking tired of the incredible power they wield over our elected officials and outrageous tax loopholes they continuously exploit. They’ve earned their fortunes on by often standing on the shoulders or necks of society - they owe the country and society that allowed this kind of unbridled capitalism to exist more than 1.4% of the taxes they should have paid.

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philaiv t1_iudi68v wrote

No one gives away a billion dollar company to save a few hundred million on taxes. That just doesn't make any sense whatsoever.

It's always people who don't understand how taxes work that love to spread false information about taxes.

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todareistobmore t1_iudpor7 wrote

> No one gives away a billion dollar company to save a few hundred million on taxes. That just doesn't make any sense whatsoever.

He's 83. It's estate management (which is also why it's an exemption rather than a deduction).

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A_Damn_Millenial t1_iudiply wrote

You’re right. He and his family control the organizations he “gave it away” to.

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philaiv t1_iudkr16 wrote

My point was that you don't understand tax law. 501c4s are NOT tax deductible.

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A_Damn_Millenial t1_iudqf0v wrote

Also correct. Didn’t I say they paid 17 million in taxes? 17 million is only 1.41% of the 1.2 billion that should’ve been paid when transferring a company to family. Why is that so hard to understand?

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PutVegetable8415 t1_iuimgtv wrote

Many corporations will do significantly more to save the planet than whiny redditors.

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papajim22 t1_iucynjw wrote

More so the target demographic that wears Patagonia (e.g. the stereotypical Silicon Valley tech bro vest), and how expensive their stuff can be. Setting up shop in ritzy Harbor East doesn’t help with that.

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MissiontwoMars t1_iuaypc8 wrote

Nowadays most outlet product is made for outlet with lower cost materials used to price it in.

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bono_my_tires t1_iubh5gm wrote

True although I think for Patagonia in particular its more of the previous season gear rather than cheaper made products

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EfficiencySuch6361 t1_iuaftsi wrote

Can’t wait to check it out! So glad it’s in the city and not just outside

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sellwinerugs OP t1_iub45ab wrote

Agreed, props to Patagucci for getting a space in the city

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YoYoMoMa t1_iua823k wrote

This is awesome. One of the few companies that is actually good. Owner legit surrendered billions to make the company into an environmental charity.

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buttpincher t1_iuaagma wrote

No, it's just another billionaire scam/grift to get out of paying taxes

https://youtu.be/0Cu6EbELZ6I

Edit:

> Owner legit surrendered billions to make the company into an environmental charity.

Lol. You are hilariously dense. There is no such thing as a "benevolent billionaire". His family still 100% controls the company, now just thru a 501c4 "charity" that he conveniently just setup.

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YoYoMoMa t1_iuadzwc wrote

Source: a YouTube video

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todareistobmore t1_iuakera wrote

He's not wrong, but maybe a more balanced way to put it is that the Patagonia guy's doing the same thing RW billionaires do to... :gestures at everything:, and on basic level there's a real value difference there.

Every billionaire is a policy failure, but some billionaires are less bad than others.

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buttpincher t1_iuausig wrote

The smug remark of “Source: A YouTube video” really pissed me off. As if you can’t find MIT lectures on YouTube or deep dives into many subject matters by experts

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todareistobmore t1_iub1t9v wrote

Well, even though Adam Conover's generally good, the video's 20 minutes long! It would take significantly less time to find a decent link, send somebody that link, and have them read it.

Otherwise, while the glow up is bigly cringe, if you want to drag Pa Tagonia (...Pat Agonia?), I think Barre Seid (tbf I had to google this) really should be mentioned too. The difference between complicity and abuse matters even when it comes to billionaires.

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buttpincher t1_iub2av8 wrote

I get what you're saying but he covers Patagonia right away in the video it's not like you'd have to scroll to find a mention.

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todareistobmore t1_iubpwg8 wrote

But it would still involve clicking play on a video with a runtime of 20 minutes and ...hard pass, personally speaking.

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buttpincher t1_iubv3lq wrote

Understandable attention spans are in seconds these days

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todareistobmore t1_iubznve wrote

I have no idea what the point of that dig is, but be honest: does it work for you offline?

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buttpincher t1_iuc13dy wrote

There is no dig...? Its true people's attention span is short no thanks to TikTok and the like. Im agreeing with you

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BlarghMachine t1_iubykwi wrote

That’s literally what they do though. All charity is a tax write off. Amazon charities are also a joke, especially ones done through Amazon, as well as Bezos’ donations etc. But keep rounding up at rite aid so they can write it off their taxes and not have it manifest in any tangible way toward a charitable act proportionate to what they make on it. It’s about feeling better after all.

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[deleted] t1_iuafxqh wrote

[removed]

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ocaesar t1_iubri0l wrote

/r/iamverysmart

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buttpincher t1_iubstlh wrote

/r/cringetopiarm

Stop trying to suck billionaire dick

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ocaesar t1_iubznxc wrote

Just say you don’t understand capital gains bro, she’s not gonna take you back

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buttpincher t1_iuc0yyc wrote

Just say you don't understand shell companies and 501c4 charities bro, I pay capital gains tax. Spoken like a true tax dodging billionaire apologist. Keep eating that propaganda cock moron.

This dude's not gonna pay your rent or fondle your asshole so you can stop defending him

Edit:

Jesus Christ you're a stupid fuck 😂😂 You obviously didn't read the articles that I and a couple of other people posted. Reading is hard though I understand that's why I initially put up a video. You just know the buzz word "capital gains" so you throw it around thinking it makes you look like you know what you're talking about. Pathetic

> The Times reports that, in transferring that stock to the trust, the Chouinards are on the hook for $17.5 million in gift taxes. However, they're not going to pay any taxes on the value that stock has accrued since they first acquired it — what's called capital gains taxes. Bloomberg estimates that the capital gains tax on the donation could have come in at more than $700 million.

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jesus_chen t1_iub4mvt wrote

Spot on. Patagonia’s PR team works miracles in selling this farce.

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buttpincher t1_iubtmsm wrote

People in /r/Baltimore so badly don't want this to be true lmao. Look at all the down votes... It makes no sense. Like this dude pays their rent or something. It really does put into perspective how well this propaganda works and how easily the general population is fooled. We are literally surrounded by idiots, thankfully I don't live in the shit hole that is Baltimore

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DfcukinLite t1_iubxjjb wrote

So why are you here in this sub?

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buttpincher t1_iuby3y8 wrote

I was redirected here by /r/NYC and saw this post and the comment praising the Patagonia CEO lol. Fuckin morons suckin that dude off

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grand_larsonie t1_iud8itl wrote

It's always important to remind people, Billionaires are not good people. I also noticed the down votes, there's like 5 bootlickers in this thread, or billionaires idk.

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wavesmcd t1_iuad8ba wrote

Is there a big outdoor community in Baltimore?

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sellwinerugs OP t1_iuael13 wrote

I’d say Baltimore has an average size community of outdoorsy folks for an East Coast city of 500,000+ people.

I give kudos to Patagonia for putting their Maryland store in the city proper instead of Columbia or some other bland burb. Hopefully it will be a hub for urban outdoors people and environmental-focused events for all of central Maryland, similar to the REI in Timonium. Apparently there is community work/lounge space in this new store according to the Banner article.

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Ill-Consideration974 t1_iudfapc wrote

Baltimore is pretty easy to escape for a city of its size. I know lots of people that go on trips for local hikes and even further outdoor adventures. I like a city of its size because you can easily exit without it being a huge hassle, except maybe between 4PM-6PM on weekdays.

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BMoreOnTheWater t1_iuebh11 wrote

And they partnered with Blue Water Baltimore. Bonus.

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