[Mr_250]

Interesting...I called this a couple months back. UBS is looking to close shop in Connecticut and move essentially eliminating 2,000 jobs. This is after CT gave them $20M to stay in Stamford. Granted they will have to pay it back if they fall below 2,000 employees before 2017. My guess is that they'll lay people off but still show 2,000 as being employed in Connecticut. Companies do this all the time. Open an office in Connecticut, good ole Danny Boy comes out to show how "Connecticut is growing jobs" and after 1 year all the jobs are shipped to all over the USA yet they still fall under the Connecticut Office branch. UBS will do this right until December 31, 2016. Once that clock ticks midnight lights out, thanks for the money we are gone. Malloy: UBS default on jobs agreement a possibility - StamfordAdvocate.

Looks like the ole' bribe isn't working too well. And THIS was his start achievement.

[mlassoff]

Originally Posted by Mr_250

Interesting...I called this a couple months back. UBS is looking to close shop in Connecticut and move essentially eliminating 2,000 jobs. This is after CT gave them $20M to stay in Stamford. Granted they will have to pay it back if they fall below 2,000 employees before 2017. My guess is that they'll lay people off but still show 2,000 as being employed in Connecticut. Companies do this all the time. Open an office in Connecticut, good ole Danny Boy comes out to show how "Connecticut is growing jobs" and after 1 year all the jobs are shipped to all over the USA yet they still fall under the Connecticut Office branch. UBS will do this right until December 31, 2016. Once that clock ticks midnight lights out, thanks for the money we are gone. Malloy: UBS default on jobs agreement a possibility - StamfordAdvocate.

Looks like the ole' bribe isn't working too well. And THIS was his start achievement.

And if Foley had been governor this whole time they would have stayed because he's so good looking? What do you expect ANY governor to do in this situation?

[Mr_250]

Originally Posted by mlassoff

And if Foley had been governor this whole time they would have stayed because he's so good looking? What do you expect ANY governor to do in this situation?

He gave UBS the money to create a HQ here. They were like the poster child for the "First Five" Program and they will not make it until the 2017 date. The guy who gave them the money is now saying that he has doubts they will be able to fulfill their employment obligations.

I don't like the fact that CT Government is placing "bets" on companies with our money. Picking and choosing winners, as evident here, is not the Governments' forte.

[Mike 75]

Originally Posted by Mr_250

He gave UBS the money to create a HQ here. They were like the poster child for the "First Five" Program and they will not make it until the 2017 date. The guy who gave them the money is now saying that he has doubts they will be able to fulfill their employment obligations.

I don't like the fact that CT Government is placing "bets" on companies with our money. Picking and choosing winners, as evident here, is not the Governments' forte.

Agreed. Its crony capitalism. Make CT more business friendly for all companies, big and small.

I imagine Foley will soon have an ad out that will make hay of this development.

[mlassoff]

Originally Posted by Mr_250

He gave UBS the money to create a HQ here. They were like the poster child for the "First Five" Program and they will not make it until the 2017 date. The guy who gave them the money is now saying that he has doubts they will be able to fulfill their employment obligations.

I don't like the fact that CT Government is placing "bets" on companies with our money. Picking and choosing winners, as evident here, is not the Governments' forte.

What a bunch of baloney. So I assume USB is blameless? Or were you saving your condemnation of them for later? The country has "trained" companies to leverage government for these incentives. If Malloy didn't give incentives, another state would. Calling it "placing bets" is just putting a pejorative around something that happens EVERYWHERE. Do you think Malloy invented this absurdity?

https://texaswideopenforbusiness.com...ives-financing

What would you do instead? I know-- Lower taxes, even though our taxes are lower than neighboring NY and Boston, which have no trouble retaining businesses and establishing new ones. In fact I can't think of a single conservative area that's a real startup mecca-- San Francisco, Boulder, Austin, Boston...

I'm not voting for Malloy-- but let's get real. If you think that a Republican is going to come in and *poof* this problem will be fixed, you're mistaken.

So what's your plan to both retain jobs and not bribe large employers? And don't forget not canceling any programs that people like. Everyone wants to cut taxes until it's their fire department that can't respond for 10 minutes.

[BPt111]

Chart: What


Chart: What’s the real unemployment rate?

[Mr_250]

Originally Posted by mlassoff

So what's your plan to both retain jobs and not bribe large employers? And don't forget not canceling any programs that people like. Everyone wants to cut taxes until it's their fire department that can't respond for 10 minutes.

No, UBS is not blameless they were just given the carrot and they jumped at it.

Cut red tape and regulations - Unions, environmental all hinder growth of some sort.
Taxes - Of course lower them and take a deep hard look at programs not needed at all levels. Time for the community to step up and take some pride and ownership.
Stop giving handouts to worthless people - (yes, this may sound harsh and it is) - Take a good hard look at the SNAP, WIC, Section 8 and other programs. People take advantage of these systems. There are even websites dedicated how to do it. It pisses me off when I see a single mom using a WIC card driving a BMW with 3 kids wearing juicy pants. I work hard for my money and to have the government pay more attention to lazy, good for nothing people instead of paying attention to good, hard working people is just backwards. Like nature intended, the strong survive and the weak parish. (sorry). Pretty soon CT will be rich and poor, the middle class will move on.

But I do agree with you that a republican or whoever will not *poof make it better.

Also, the website you provided seems like Teaxs is showing companies what they can offer but utilizing the programs offered. It doesn't just say "here's $20M please stay." Does CT have this website?

[MikefromCT]

Originally Posted by Mr_250;36964159
Cut red tape and regulations[/b

- Unions, environmental all hinder growth of some sort.

We can still grow a diversified economy without compromising the environment. There are environmental laws in place for a reason, and at our current stage, we shouldn't be compromising these.

And we don't need to break unions, just break them on if the next time they decide to go on strike over something petty. (Koch did this when he was mayor if New York when the transit workers went on strike in 1980. He didn't break the union, he just beat them and they caved after 11 days.)

[Lalalally]

Originally Posted by Mr_250

Interesting...I called this a couple months back. UBS is looking to close shop in Connecticut and move essentially eliminating 2,000 jobs. This is after CT gave them $20M to stay in Stamford. Granted they will have to pay it back if they fall below 2,000 employees before 2017. My guess is that they'll lay people off but still show 2,000 as being employed in Connecticut. Companies do this all the time. Open an office in Connecticut, good ole Danny Boy comes out to show how "Connecticut is growing jobs" and after 1 year all the jobs are shipped to all over the USA yet they still fall under the Connecticut Office branch. UBS will do this right until December 31, 2016. Once that clock ticks midnight lights out, thanks for the money we are gone. Malloy: UBS default on jobs agreement a possibility - StamfordAdvocate.

Looks like the ole' bribe isn't working too well. And THIS was his start achievement.

Political spin aside, this is really bad news for Stamford. I feel for all the restaurant owners, service providers, etc. who rely on having a big employer like UBS in town. Not good.

[Beeker2211]

UBS and RBS are special cases. I know a few people in the industry that blame UBS Zurich for basically making the entire North American operation generally unfeasible. It's not just the Connecticut operation they are having trouble, it's been on their NYC and NJ floors as well. They got way too involved in the sub-prime market as it was getting incredibly overheated. I'm not sure if you could blame the business environment in CT solely for UBS thinking about making the Stamford offices back operations. RBS was basically in the same boat. I think Stamford was a little short sighted by not zoning for offices that could be growth companies and expecting the big employers to fill those spots indefinitely.