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Old 08-14-2013, 09:37 AM
 
Location: Woburn, MA / W. Hartford, CT
2,046 posts, read 2,286,537 times
Reputation: 874
I think this quote by UTC's CFO says it all:

"The fact is, restructuring is a way of life here at UTC," Hayes said. "It's how we drive productivity."

Pratt & Whitney layoffs: Pratt Cuts 400 Jobs, About Half In Connecticut - Courant.com

Again, from an investor's point of view, hard to argue with the results. Their stock is at an all-time high, and never took the beating that say, GE's did. But if you're an employee...buyer beware.
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Old 08-14-2013, 10:17 AM
 
Location: Connecticut
24,321 posts, read 39,774,591 times
Reputation: 6838
Quote:
Originally Posted by bobtn View Post
While my heart wants to agree, my head is reminding yours we are seeing record corporate profits. Profits are the goal of a capitalist corporation. So where is objective data showing an issue with this supposed short-sightedness?
A long term goal would be to be able to provide your clients with products and services they need now and in the future. The now part is easy but it is the long term part that is where the question comes in play. A corporation cannot just look at the immediate bottom line. They have to invest in their future. They need to have the staff to meet the demands of their clients and have to make a judgement on what that will be. Sometimes they lose sight of this to make the bottom line look its best right now. I am not saying that UTC is doing that but it can come into play. Jay
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Old 08-14-2013, 10:44 AM
 
Location: NJ
18,677 posts, read 16,316,127 times
Reputation: 7273
Quote:
Originally Posted by htfdcolt View Post
I think this quote by UTC's CFO says it all:

"The fact is, restructuring is a way of life here at UTC," Hayes said. "It's how we drive productivity."

Pratt & Whitney layoffs: Pratt Cuts 400 Jobs, About Half In Connecticut - Courant.com

Again, from an investor's point of view, hard to argue with the results. Their stock is at an all-time high, and never took the beating that say, GE's did. But if you're an employee...buyer beware.
Very accurate assessment.
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Old 08-14-2013, 10:50 AM
 
742 posts, read 1,489,893 times
Reputation: 360
Quote:
Originally Posted by htfdcolt View Post
I think this quote by UTC's CFO says it all:

"The fact is, restructuring is a way of life here at UTC," Hayes said. "It's how we drive productivity."

Pratt & Whitney layoffs: Pratt Cuts 400 Jobs, About Half In Connecticut - Courant.com

Again, from an investor's point of view, hard to argue with the results. Their stock is at an all-time high, and never took the beating that say, GE's did. But if you're an employee...buyer beware.
Unfortunately, the lay-off mentality is also an "easy" way for corporations to weed out talent that has either lost motivation and/or whose skills have become irrelevant and/or who have become too expensive to keep on payroll.

My old employer (not UTC or subsidiaries) offered "early retirement packages" (e.g. fancy term for severance) to a lot of the older employees. One guy was even told via off-the-record phone call from the Regional Head that he should really consider accepting the package. That guy was mediocre at his job and had a bunch of minor, non-life threatening health issues that caused his work to further slip away.
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Old 08-14-2013, 01:45 PM
 
Location: Coastal Connecticut
14,585 posts, read 17,729,572 times
Reputation: 3303
Lay-offs at my last company meant department heads would pick their least favorite employees to go. It was rarely specific to the account we lost.
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Old 08-15-2013, 06:25 AM
 
Location: Connecticut
24,321 posts, read 39,774,591 times
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Quote:
Originally Posted by Stylo View Post
Lay-offs at my last company meant department heads would pick their least favorite employees to go. It was rarely specific to the account we lost.
A lot of time it is just a numbers game. There is an order made to reduce the workforce by X percent across the board and those cuts are made in every department where they are busy or not. Jay
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Old 08-15-2013, 12:00 PM
 
Location: Northeast states
10,217 posts, read 7,043,097 times
Reputation: 2648
Default CT is richest State in America

CT is richest state, averaging 59,000 per capita, One of America Worst State Economies, worst financial shape in the union.


http://news.yahoo.com/video/whoknew-...060000516.html
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Old 08-23-2013, 07:47 AM
 
2,495 posts, read 2,390,509 times
Reputation: 1390
I'm not close to retiring, but when I do. I can't afford CT.

The least tax-friendly states for retirees - Yahoo! Finance
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Old 08-23-2013, 08:53 AM
 
642 posts, read 646,080 times
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Quote:
Originally Posted by Mr_250 View Post
I'm not close to retiring, but when I do. I can't afford CT.

The least tax-friendly states for retirees - Yahoo! Finance
Thanks Mr_250,

"It (CT) also taxes pension benefits, and is one of only 14 states that tax Social Security income."

My husband is getting close to retirement age and I didn't realize everything in the article about CT. I have a question for you or anyone else who might know the answer.

We are both in our 50's (although my husband is close to 60) and we are both still working. It seems like the first $50,000 of our income in CT is exempt from state income taxes now. Is the first $50,000 of Social Security and Pensions exempt also?

I would like to point out that I have no problem with an appropriate tax portion of my income after $50,000 to go to help poor seniors, the disabled, poor children etc. in our state. As long as I have enough for my needs in retirement I am happy to give a portion of my income to make CT a better, kind and benevolent state. But the tax rates should not be excessive which is what seems to be happening now.

Last edited by CTartist&musician; 08-23-2013 at 09:03 AM..
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Old 08-23-2013, 09:55 AM
 
Location: Connecticut
24,321 posts, read 39,774,591 times
Reputation: 6838
Quote:
Originally Posted by Mr_250 View Post
I'm not close to retiring, but when I do. I can't afford CT.

The least tax-friendly states for retirees - Yahoo! Finance
People need to realize a few things when they retire. Yes, there are more tax friendly states that you could move to when you retire but there will be other costs that you may need to take into consideration. If your family is still in Connecticut at that time, you will need to factor in the cost of traveling a couple of times a year back for holidays and family functions. That alone could easily eat up any relativvely small tax savings you may realize in a move. Also some states like North Carolina actually tax your groceries. Connecticut does not. Then there are the hidden costs like HOA fees required if you move to one of those planned communities that many end up in in the south in order to assure that you are not going to have something undesirable next door to you in the future.

Also note that many of these low cost places do not offer the same quality of life as here. You may end up in a location that does not offer quality medical care or that does not have some of the things we tend to take for granted (theaters, museums, entertainment options, etc.).

Then there are housing costs. What I have noticed is that homes located near major cities are not priced that much lower than some parts of CT. Homes in the Hartford area are not far in price from those near major cities like West Palm Beach, Miami, Orlando, Jacksonville or Tampa. The cheaper homes in these areas are actually located quite far from them. If you went a similar distance from Hartford you will see price drops as well. Eastern CT is not that expensive so you could find homes of similar costs not far from major cities. Jay
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