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Old 11-14-2018, 09:05 AM
 
5,052 posts, read 4,677,466 times
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^^^ antinimby, thank you. That was very interesting. Lots to say, lots of questions, but in the interest of keeping things on topic for the thread, looks like Malloy was smarter than Haier. Let 'em go, let 'em walk away. The difference between Malloy and Haier is that Malloy knew a bad deal when he saw it. Or maybe not. Maybe he just had nothing to offer GE and that turned out to be his dumb luck.
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Old 11-17-2018, 10:44 PM
 
96 posts, read 23,648 times
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Quote:
Originally Posted by OyCrumbler View Post
Well, was GE trying to get some concessions from the state? If there were heavy concessions being asked for, then CT did luck out. If not, then I donít see why itís any more of a negative to lose state tax revenue from a company folding or a company flatout leaving.

I will say though, Aetna being bought by CVS was some real Deus Ex Machina ****.
Indeed indeed. AET to NYC would've been disastrous for CT.
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Old 11-18-2018, 08:36 AM
 
Location: Connecticut
25,299 posts, read 41,058,395 times
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Originally Posted by Manhatta View Post
Indeed indeed. AET to NYC would've been disastrous for CT.
Why? It was only a couple hundred jobs while Aetna employs thousands here. It would not have looked good but the reality is, just like GE, it would have been a blip in the market. Jay
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Old 11-18-2018, 08:56 AM
 
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Perception trumps reality. This is why people are still bringing it up. Ct losing GE hurt.
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Old 11-18-2018, 09:30 AM
 
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Quote:
Originally Posted by JayCT View Post
Why? It was only a couple hundred jobs while Aetna employs thousands here. It would not have looked good but the reality is, just like GE, it would have been a blip in the market. Jay

200 GE highest paid jobs are far more valuable to any state than 200 jobs at say, Dave & Busters at the mall.

In terms of gross payroll and net worth, they are most likely worth a few dozen times what the same quantity of jobs are, in most industries in Ct. That is what was removed from our economy-not the quantity of people, but the oversized buying power of these people.
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Old 11-18-2018, 09:59 AM
 
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GE was once America's most valuable company. Today it is fighting junk-bond status.

https://www.cnbc.com/2018/11/16/ge-o...bond-name.html

How long before those 200 highest paid employees are downgraded to junk status themselves?
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Old 11-18-2018, 10:03 AM
 
17,560 posts, read 6,667,971 times
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Originally Posted by kmarc View Post
GE was once America's most valuable company. Today it is fighting junk-bond status.

https://www.cnbc.com/2018/11/16/ge-o...bond-name.html

How long before those 200 highest paid employees are downgraded to junk status themselves?
Never happen. Another non Ct corp will hire them. Its the skill sets, the been there, done that, corps seek.

Plus GE had issues for many decades now. Just cause grandpa loved their products, does not mean his grandkids today agree. Bezos is correct-corps do not last forever. GE had a great , long ride but its best days were over decades back. No matter who leads the corp, or who his/her next tier execs are.
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Old 11-18-2018, 10:06 AM
 
Location: Connecticut
25,299 posts, read 41,058,395 times
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Quote:
Originally Posted by BobNJ1960 View Post
200 GE highest paid jobs are far more valuable to any state than 200 jobs at say, Dave & Busters at the mall.

In terms of gross payroll and net worth, they are most likely worth a few dozen times what the same quantity of jobs are, in most industries in Ct. That is what was removed from our economy-not the quantity of people, but the oversized buying power of these people.
Of course that is true which is why Malloy has been so willing to give tax credits to keep companies with high paying jobs, like Bridgewater, to stay and expand here. But those 200 jobs mean little when you consider them out of the 420,000 jobs in Fairfield County or 507,000 jobs in Hartford County. Jay
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Old 11-18-2018, 10:11 AM
 
17,560 posts, read 6,667,971 times
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Quote:
Originally Posted by JayCT View Post
Of course that is true which is why Malloy has been so willing to give tax credits to keep companies with high paying jobs, like Bridgewater, to stay and expand here. But those 200 jobs mean little when you consider them out of the 420,000 jobs in Fairfield County or 507,000 jobs in Hartford County. Jay

I would say they mean a lot-as lets suppose the best factor to use is 25, meaning 25x buying power of median FFC job. That would mean equivalent Ct GDP of 5,000 FFC jobs, and smart counties are not dismissive of losing 1.2% of county GDP. ((200 * 25)/420,000).

Aetna HQ btw would have been worse than GE HQ leaving. Larger hq staff, more hq GDP.
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Old Yesterday, 07:51 PM
 
19,145 posts, read 12,530,410 times
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Default GE Shrinks Boston HQ Plans - Returns Nearly $90 Million

Well, well, well.




https://www.reuters.com/article/us-g...-idUSKCN1Q32QM
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