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Old 08-28-2016, 09:24 PM
 
Location: Woburn, MA / W. Hartford, CT
2,773 posts, read 2,870,663 times
Reputation: 1599

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Quote:
Originally Posted by BobNJ1960 View Post
So GE could not find enough talent in Ct per the above. Interesting. More distressing than a tax/cost issue, too.
Immelt definitely went on record citing the talent pipeline from the Boston area institutions as a big reason for the move.

GE moving headquarters to Boston for tech talent, tax cut | Reuters

To say CT has no talent is not fair...I think what is fair is to say that given the new digital direction that GE is moving in (witness all the commercials!), Boston represents far more of a critical mass for that type of talent than CT.
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Old 08-28-2016, 09:35 PM
 
23,584 posts, read 9,487,554 times
Reputation: 11394
Quote:
Originally Posted by htfdcolt View Post
Immelt definitely went on record citing the talent pipeline from the Boston area institutions as a big reason for the move.

GE moving headquarters to Boston for tech talent, tax cut | Reuters

To say CT has no talent is not fair...I think what is fair is to say that given the new digital direction that GE is moving in (witness all the commercials!), Boston represents far more of a critical mass for that type of talent than CT.

Over taxation is an easier issue to solve, vs changing corp requirements.


Also: Millennials like cities far more than their parents did at the same age IMO, from the large number I know, plus articles I have read. F500 needs those kids. That plays badly for suburban corp hqs all across this nation long-term.
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Old 08-28-2016, 11:06 PM
 
Location: Texas
2,394 posts, read 3,619,567 times
Reputation: 1409
Quote:
Originally Posted by htfdcolt View Post
Immelt definitely went on record citing the talent pipeline from the Boston area institutions as a big reason for the move.

GE moving headquarters to Boston for tech talent, tax cut | Reuters

To say CT has no talent is not fair...I think what is fair is to say that given the new digital direction that GE is moving in (witness all the commercials!), Boston represents far more of a critical mass for that type of talent than CT.
So then moving from #44 to #25 in tax burden was just a bonus?
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Old 08-29-2016, 07:45 AM
 
Location: Woburn, MA / W. Hartford, CT
2,773 posts, read 2,870,663 times
Reputation: 1599
Quote:
Originally Posted by HeadedWest View Post
So then moving from #44 to #25 in tax burden was just a bonus?
I don't know the material difference there, only GE's accountants would. But to the rest of the country, saying that Massachusetts attracted a company because of lower taxes would elicit guffaws!
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Old 08-29-2016, 08:18 AM
 
Location: JC
1,723 posts, read 1,151,317 times
Reputation: 1499
Quote:
Originally Posted by HeadedWest View Post
So then moving from #44 to #25 in tax burden was just a bonus?
This doesn't take into account that waterfront in downtown Boston is probably more expensive to lease/own office space than FFC suburbs. The majority of GE HQ employees are being moved to other offices in CT so if taxes were the real reason GE moved why didn't every employee get shifted to MA?
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Old 08-29-2016, 09:48 AM
 
610 posts, read 406,106 times
Reputation: 664
After going through the hundreds of posts and reasons for GE leaving, the obvious (at least to me) reason is---ALL of the above. I don't think anyone is in a position to know more precisely than that. It seems that they all were a part of the decision.
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Old 08-29-2016, 03:00 PM
 
789 posts, read 547,949 times
Reputation: 589
Quote:
Originally Posted by Robert137 View Post
After going through the hundreds of posts and reasons for GE leaving, the obvious (at least to me) reason is---ALL of the above. I don't think anyone is in a position to know more precisely than that. It seems that they all were a part of the decision.
It is true that many factors were involved. But some on here would like to think that the tax issue was completely a non-issue, when in fact anyone who has ever been around corporate planning knows it is a huge factor.
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Old 08-29-2016, 04:13 PM
 
Location: JC
1,723 posts, read 1,151,317 times
Reputation: 1499
Quote:
Originally Posted by RonaldusMagnus View Post
It is true that many factors were involved. But some on here would like to think that the tax issue was completely a non-issue, when in fact anyone who has ever been around corporate planning knows it is a huge factor.
I would phrase it some of think taxes were of lesser importance. Based on what I've read about the GE move it would have still happened even if our tax brackets were below MA.
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Old 08-29-2016, 07:01 PM
 
789 posts, read 547,949 times
Reputation: 589
Quote:
Originally Posted by GoHuskies View Post
I would phrase it some of think taxes were of lesser importance. Based on what I've read about the GE move it would have still happened even if our tax brackets were below MA.
No it wouldn't have. Corporate planning fiduciary duty weighs heavily in these decisions.
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Old 08-31-2016, 06:55 AM
 
747 posts, read 836,400 times
Reputation: 354
well, immelt's house dropped a half mil in price. pick it up for a song!

705 West Rd, New Canaan, CT 06840 | MLS #139721 | Zillow
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