[hvexpatinct]

Originally Posted by Wilton2ParkAve

Do you have any evidence of greater liabilities being concentrated in lower Fairfield. I won’t hold my breath. The wealthy towns are already paying more than their fair share of taxes. Let’s also keep denying any changes to our pensions, soon we won’t be able to borrow money. Case in point https://www.google.com/amp/s/www.cnb...oes-weigh.html

https://ctmirror.org/2017/02/03/mall...me-tax-credit/

See infographic - toggle to Pension Liability - State Share

[Wilton2ParkAve]

Originally Posted by hvexpatinct

https://ctmirror.org/2017/02/03/mall...me-tax-credit/

See infographic - toggle to Pension Liability - State Share

That seems to be missing the overlay of how much the towns each contribute to the coffers. In other words, half the story. Don’t let facts get in the way of a good story though. They aren’t burdensome when you factor in income tax share. Greenwich pays 10% of the state’s total so having a higher pension payment then New Britain seems justified.

[GeoffD]

Originally Posted by hvexpatinct

The pension liabilities are disproportionately skewed towards the wealthy towns though. By, like, a lot - I will have to dig up the graphic that shows the proportion of liabilities by town, but with the exception of Hartford and a few other cities, by far the greatest proportion of the liability is concentrated in lower Fairfield. They are getting huge subsidies from the state in that form.

Of course. A public school teacher in Greenwich near retirement makes 6 figures. With 2% vesting, their unfunded pension liability is huge compared to some equivalent teacher in the northeast corner of the state.

[CT_Yank]

So..back to Infosys in Hartford. More details in Hartford Business.com article yesterday. Key bit from DECD Commissioner Catherine Smith which confirms my suspicion that these will H1B in future. It never came up as topic?? Really? Or you did not want to make it a topic?

"I really don't think this is going to be people saying 'we're going to let go of 10 people and hire Infosys,' or 'we're going to outsource a whole department,' " Smith said.

The formal contract between Infosys and DECD is not yet complete, but Smith said she doesn't expect it to include a provision limiting H-1B labor.

"It really was not a central topic," Smith said. "We were sure from day one that the jobs being created were hiring American citizens and putting them to work in Connecticut."

[JayCT]

It is WAY too early to be happy but there is a small glimmer of positive news from the State Comptroller on income tax receipts this year. Fingers crossed. Jay

Lembo sees ray of fiscal hope in April income tax returns | HartfordBusiness.com

[BPt111]

Stamford is booming 400+ more jobs the city now is Connecticut finance center

https://ctpost.com/business/article/...s-12808147.php

[JayCT]

Moody's has upgraded the City of Hartford's Bond rating and confirmed the State's as well. They have some positive things to say about the State's actions. This appears to be good news. not only for the City of Hartford but also for the State of Connecticut. Jay

Moody's upgrades Hartford's debt rating in wake of state bailout | HartfordBusiness.com

[JayCT]

This is interesting. A Chicago-based private equity real estate firm is offering as much as $2 billion to purchase office buildings, health-care facilities, transit-related properties and whatever the governments think they can sell, so long as the buyer gets a 7.25 percent initial return, plus annual rent hikes of 1.5 percent.

I am not sure the state would be interested in selling off key assets such as the State Capitol (Arizona doesn't own its State Capitol building???) but I find it interesting that they offered to buy the XL Center in Hartford for $50 million and spend $250 million to update it. I don't remember that being made public but must be why the Republicans are pushing to sell the facility. Might not be a bad idea for that asset.

I am not sure that I like they want a 7.25% return on their investment. Does the state have to guarantee that? Is this going to just be another way of kicking the problem down the road for future generations to deal with? A lot of questions that would need to be answered before taking such drastic action. Jay

https://www.bloomberg.com/news/artic...uy-real-estate

[BPt111]

Committee passes bill to develop plan to allow recreational mari - WFSB 3 Connecticut

[MrGompers]

Originally Posted by JayCT

This is interesting. A Chicago-based private equity real estate firm is offering as much as $2 billion to purchase office buildings, health-care facilities, transit-related properties and whatever the governments think they can sell, so long as the buyer gets a 7.25 percent initial return, plus annual rent hikes of 1.5 percent.

I am not sure the state would be interested in selling off key assets such as the State Capitol (Arizona doesn't own its State Capitol building???) but I find it interesting that they offered to buy the XL Center in Hartford for $50 million and spend $250 million to update it. I don't remember that being made public but must be why the Republicans are pushing to sell the facility. Might not be a bad idea for that asset.

I am not sure that I like they want a 7.25% return on their investment. Does the state have to guarantee that? Is this going to just be another way of kicking the problem down the road for future generations to deal with? A lot of questions that would need to be answered before taking such drastic action. Jay

https://www.bloomberg.com/news/artic...uy-real-estate

NO to all proposals. I can't think of any thing dumber than selling property or some other assets only to turn around and lease/rent it back from the new owner. The people proposing ideas like this are much smarter than the people they are pitching the ideas to.

Also, when speaking about "Govt assets" those assets belong to society et al and we haven't consented to selling any of them.