[JayCT]

Originally Posted by BobNJ1960

Absolutely. Its inevitable IMO anyway, just a matter of when.

Read a little about Detroit’s bankruptcy. Seems the only ones that benefited were the attorneys who collected millions. It still cost taxpayers hundreds of millions and wrecked havoc with the city. Fortunately private industry and donors stepped up to help soften the blow. Either way a lot of people suffered for it and it is definitely something that should only be an absolute last resort. I am glad Hartford avoided bankruptcy and disagree that it is inevitable. Other cities were close to bankruptcy and returned to stability. No reason Hartford can’t too. Jay

https://en.wikipedia.org/wiki/Detroit_bankruptcy

[BobNJ1960]

Originally Posted by JayCT

Read a little about Detroit’s bankruptcy. Seems the only ones that benefited were the attorneys who collected millions. It still cost taxpayers hundreds of millions and wrecked havoc with the city. Fortunately private industry and donors stepped up to help soften the blow. Either way a lot of people suffered for it and it is definitely something that should only be an absolute last resort. I am glad Hartford avoided bankruptcy and disagree that it is inevitable. Other cities were close to bankruptcy and returned to stability. No reason Hartford can’t too. Jay

https://en.wikipedia.org/wiki/Detroit_bankruptcy

I disagree. They suffered because Motown acted recklessly for decades. Bankruptcy is why they have any shot to come back. No pain, no gain.

Hartford still has the same systemic financial issues it did a few years ago. Bankruptcy will still come, and by delaying it, it will be harsher. Not wishing it, but being a realist.

[kidyankee764]

Originally Posted by JayCT

Read a little about Detroit’s bankruptcy. Seems the only ones that benefited were the attorneys who collected millions. It still cost taxpayers hundreds of millions and wrecked havoc with the city. Fortunately private industry and donors stepped up to help soften the blow. Either way a lot of people suffered for it and it is definitely something that should only be an absolute last resort. I am glad Hartford avoided bankruptcy and disagree that it is inevitable. Other cities were close to bankruptcy and returned to stability. No reason Hartford can’t too. Jay

https://en.wikipedia.org/wiki/Detroit_bankruptcy

Hartford’s property taxes are already nauseatingly high and it isn’t exactly booming with new corporations to ease the burden on residents. The city has already received bailout money from the state, which wasn’t very successful to my knowledge. Bankruptcy is just about the only option left.

[Siberiaboy]

There is one very strong business in Connecticut and it’s freight moving services because even when things move out, who knows CT streets better than CT people? And someone has to do the work vacating former stores.

[JayCT]

Not surprisingly, the Connecticut State Employee Union has come out against reopening negotiations with them and the proposals put forth by the Commission on Fiscal Stability and Economic Growth. Let the sparing begin. Jay

Unions reject blueprint: Proposal to shore up state budget calls for tax cuts, state employee givebacks | HartfordBusiness.com

[BobNJ1960]

Originally Posted by JayCT

Not surprisingly, the Connecticut State Employee Union has come out against reopening negotiations with them and the proposals put forth by the Commission on Fiscal Stability and Economic Growth. Let the sparing begin. Jay

Unions reject blueprint: Proposal to shore up state budget calls for tax cuts, state employee givebacks | HartfordBusiness.com

Dumbest thing Malloy ever did was rescind 6,000 state layoffs-after stating offer previously rejected was last, best offer. If he let 6k go, he could then wait a few months, as they hit the streets, for union to come back begging "If we accept deal, will you let a small % of the 6,000 back?". Then you let say, 25% of them back, if union accepts deal. RETROACTIVE to when they voted it down. Yes, clawbacks retroactively.

Management must never blink.

Lamont needs to choose between being the governor, or head of the State Employees Union. His predecessor was more the latter, than the former.

[JayCT]

Interesting article on Connecticut's Hedge Fund industry and the recent Greenwich Economic Forum investment conference. Shows that the industry here is still among the largest in the country and world and is stable, not contracting. It notes that the real threat to Connecticut is not Florida, which it says has NOT grown in the last five years, but New York and Boston. That goes against the contention many here keep pushing. New York and Boston are certainly more expensive than Connecticut is. There also goes the contention that cost of living and taxes are driving Hedge Funds away. Jay

https://www.ctpost.com/business/arti...e-13434256.php

[kidyankee764]

Originally Posted by JayCT

Interesting article on Connecticut's Hedge Fund industry and the recent Greenwich Economic Forum investment conference. Shows that the industry here is still among the largest in the country and world and is stable, not contracting. It notes that the real threat to Connecticut is not Florida, which it says has NOT grown in the last five years, but New York and Boston. That goes against the contention many here keep pushing. New York and Boston are certainly more expensive than Connecticut is. There also goes the contention that cost of living and taxes are driving Hedge Funds away. Jay

https://www.ctpost.com/business/arti...e-13434256.php

Nah, cost of living isn’t driving businesses out. Desirability is. Large sprawling suburban office parks are no longer popular, and that’s primarily what CT has.

[MrGompers]

Originally Posted by BobNJ1960

Dumbest thing Malloy ever did was rescind 6,000 state layoffs-after stating offer previously rejected was last, best offer. If he let 6k go, he could then wait a few months, as they hit the streets, for union to come back begging "If we accept deal, will you let a small % of the 6,000 back?". Then you let say, 25% of them back, if union accepts deal. RETROACTIVE to when they voted it down. Yes, clawbacks retroactively.

Management must never blink.

Lamont needs to choose between being the governor, or head of the State Employees Union. His predecessor was more the latter, than the former.

Malloy the dino **** canned 2,800 state employees. That was after he sent out layoff notices to 10,000 employees. That was the negotiation. you need to print this out and keep it by your computer before posting about state employee layoffs incessantly. Never forget this. All you Malloy haters should have asked him to run for Gov again.


What's funny is the offices that the public uses the most took the biggest hits.


DOL **** canned 20% and closed offices in New Britain and Middletown

Judicial at least 10%
DMV not sure on percentage, but they took a hit


Next time you go into one of these Govt offices ask yourself "would this place run better with less employees "?


You should really be concerned about these cuts especially since you think every business in CT is looking to leave. So if your company leaves for Tennessee and you need to file for unemployment and can't get an appt for 3+ weeks what are you going to do ? Mortgage and utility companies don't take IOU's. And they won't care that the DOL is behind up because Malloy the dino cut 20% of their staff.

[JGBigGreen]

The article states that the number of hedge funds in the state has shrunk by 9% in just the last three years. That really doesn’t seem stable.

Originally Posted by JayCT

Interesting article on Connecticut's Hedge Fund industry and the recent Greenwich Economic Forum investment conference. Shows that the industry here is still among the largest in the country and world and is stable, not contracting. It notes that the real threat to Connecticut is not Florida, which it says has NOT grown in the last five years, but New York and Boston. That goes against the contention many here keep pushing. New York and Boston are certainly more expensive than Connecticut is. There also goes the contention that cost of living and taxes are driving Hedge Funds away. Jay

https://www.ctpost.com/business/arti...e-13434256.php