Economy

This Wasn’t Actually a Great Week for Amazon

While the public buzzed around cities’ extravagant HQ2 bids, Amazon’s been taking some hits to its business and reputation, raising yet another flag for cities pouring incentives into their offers.
Ted S. Warren/AP

We’ve read all about the top contenders for Amazon HQ2 and the long-shots; the hopeful small cities and the smug, orange-hued, big ones. We know the good, the bad, and the ugly of what those cities are willing to do to secure the mega-deal—even faced with the possibility that Amazon might end up getting more than it gives, cities still can’t resist its (incredibly wealthy) charm.

Somewhat buried underneath this bidding-war news-muck, however, were two more troubling bits of Amazon news. On Tuesday, Amazon Studios CEO Roy Price resigned amid accusations of sexual harassment; and on Thursday, The Wall Street Journal reported that a major Amazon competitor, Walmart, has plans to launch an online retail store in partnership with Lord & Taylor. As the bidding deadline for Amazon HQ2 drew to a close Thursday night, another conceivable worst-case scenario emerged for cities vying for HQ2: the reminder that Amazon, however mighty, isn’t invincible.