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Old 05-05-2015, 05:37 AM
 
2,695 posts, read 3,487,187 times
Reputation: 1652

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Not sure if 'proposed law' belongs here or under the PROPOSED DUMB BUSINESS LAWS category but get this..

"The mandate in HB 6933 would financially penalize employers who are attempting to accommodate their employees’ needs that arise suddenly. " WHAT?!! (A)

Might as well put up a sign in the State welcome signs that says "We're (sort of) open for business, but it'll cost ya (a lot)."

EDIT: I just read that this bill died. Good. Still, why try and bring a bill like this to the floor. It doesn't help the cause of CT Being open for business.

 
Old 05-05-2015, 02:43 PM
 
2,358 posts, read 2,181,264 times
Reputation: 1374
Quote:
Originally Posted by Mr_250 View Post
Reading this article, it sounds like it will happen.What's next for Sikorsky? - Fortune

Sikorsky doesn't fit into UTC anymore. The new CEO wants to take the direction of building systems, not defense. The article states that it is not as profitable anymore to keep. We'll have to wait and see. Sometime in June-July they'll have their analyst complete.
What the article stated was that spinoff/sale is an option, not something off the table. Makes me wonder if they are worried that they won't get the new contracts for the 2020 Navy and AF reorders :/
 
Old 05-06-2015, 05:58 AM
 
2,695 posts, read 3,487,187 times
Reputation: 1652
Quote:
Originally Posted by Beeker2211 View Post
What the article stated was that spinoff/sale is an option, not something off the table. Makes me wonder if they are worried that they won't get the new contracts for the 2020 Navy and AF reorders :/
The latter of what you said is what they are looking at I bet. Revenue was high but profits took a dive. There is a bill in the senate that will boost up defense spending which is great for CT so maybe they are waiting to see what how that plays out.

Either way if they do sell it as a stand alone company I have a feeling it would be moved to a lower cost manufacturing state i.e. South Carolina or Texas. Let's hope they decide to keep it and keep the location.
 
Old 05-07-2015, 08:37 AM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
Looks like a developer wants to build what will be the world's largest Fuel Cell facility in Beacon Falls. Should help our state meet its energy demands. Interestingly Connecticut already has this country's largest Fuel Cell facility in Bridgeport. Hope this one will be able to get built. Jay

CT developers pitch world's largest fuel cell park | HartfordBusiness.com
 
Old 05-07-2015, 09:17 AM
 
2,695 posts, read 3,487,187 times
Reputation: 1652
Quote:
Originally Posted by JayCT View Post
Looks like a developer wants to build what will be the world's largest Fuel Cell facility in Beacon Falls. Should help our state meet its energy demands. Interestingly Connecticut already has this country's largest Fuel Cell facility in Bridgeport. Hope this one will be able to get built. Jay

CT developers pitch world's largest fuel cell park | HartfordBusiness.com
Really would love to see this project built. It sounds like it will because I think FuelCell is out of Danbury and O&G owns the property so I know they'll make it pass.

Pretty cool.
 
Old 05-07-2015, 10:42 AM
 
2,695 posts, read 3,487,187 times
Reputation: 1652
Not being negative, but this is interesting.
CT News Junkie | Business Closures Jumped 34 Percent In First Quarter

I think CT should take advice from different parts of the Country. I read Charleston's newspaper everyday and there are a million start ups going on. People are investing millions of dollars and buying buildings used to support small start ups. The CEO of AOL is investing 100k of his own money and Donald Trump is investing millions. Volvo (maybe) and Mercedes are each investing $500M to build factories. The entrepreneurship vibe is a live and well.

I heard (I believe from here) and it holds true. CT lacks drive. By that I mean, people will move away for college get experience and move back when they have a family. They will take a $100K job at Travelers and live a comfortable life in West Hartford. It's not a bad thing, but it doesn't attract outside investments because we are so routine.

Charleston, specifically N. Charleston leveled blocks of old buildings and set up incubators with mentors. The place is booming while CT is in neutral being pushed by air.

EDIT: Read the open letter and notice the names undersigned. A lot of directors for very large corporations around the Hartford Area. Those are the people we need to listen too.

Last edited by Mr_250; 05-07-2015 at 11:06 AM..
 
Old 05-07-2015, 11:20 AM
 
2,695 posts, read 3,487,187 times
Reputation: 1652
Something I do not like to see. Seems UBS is playing the numbers game just long enough so they don't have to pay back the money CT gave them. Reported UBS space maxes out at 700 - Connecticut Post

CT recently gave UBS more money to stay in CT. Now it appears they are moving across the street with enough room for only 700 people. Hmm, something sounds really fishy. Looks like UBS is planning on selling their large building.
 
Old 05-07-2015, 01:23 PM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
Quote:
Originally Posted by Mr_250 View Post
Something I do not like to see. Seems UBS is playing the numbers game just long enough so they don't have to pay back the money CT gave them. Reported UBS space maxes out at 700 - Connecticut Post

CT recently gave UBS more money to stay in CT. Now it appears they are moving across the street with enough room for only 700 people. Hmm, something sounds really fishy. Looks like UBS is planning on selling their large building.
I saw this too but UBS has a number of offices in Connecticut outside of Stamford. They have offices in Bridgeport, Westport and Hartford which could absorb the extra people. It really comes down to income tax filings from their employees. I would hope the state is monitoring this. Jay
 
Old 05-07-2015, 01:41 PM
 
2,695 posts, read 3,487,187 times
Reputation: 1652
Quote:
Originally Posted by JayCT View Post
I saw this too but UBS has a number of offices in Connecticut outside of Stamford. They have offices in Bridgeport, Westport and Hartford which could absorb the extra people. It really comes down to income tax filings from their employees. I would hope the state is monitoring this. Jay
They should be. Last year some newspaper, I think it was the NY Times ran an article about UBS downsizing. One day was quoted as saying that [paraphrase] he and his team were in the Stamford office, now they work 3 days in NYC, 1 day in Westchester and 1 day in Stamford but are still classified under CT Payroll. They have $20M on the line and need to be watched.
 
Old 05-07-2015, 04:03 PM
 
77 posts, read 76,128 times
Reputation: 76
Quote:
Originally Posted by Mr_250 View Post
Not being negative, but this is interesting.
CT News Junkie | Business Closures Jumped 34 Percent In First Quarter

I heard (I believe from here) and it holds true. CT lacks drive. By that I mean, people will move away for college get experience and move back when they have a family. They will take a $100K job at Travelers and live a comfortable life in West Hartford. It's not a bad thing, but it doesn't attract outside investments because we are so routine.
CT just doesn't have economic opportunities, tbh.
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