[BobNJ1960]

Originally Posted by kidyankee764

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.

True. The double edged sword of cities getting safer (suburban office desirability was largely due to urban areas being war zone 30 years ago) is suburban hqs are no longer what the gen corps worry about most, millennials, desire.

[kidyankee764]

Originally Posted by 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.

It’s not stable. As stated, and I’ll try to find the article, FL has gained almost what CT had lost. CT needs to reverse this and fast.

[Mike 75]

Originally Posted by MrGompers

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.

Filing for unemployment is done online or by phone. There is no need to get an appointment. The question for me has always been, why can't the DMV use the same process for the run of the mill transactions that they currently require you to appear in person for.

[JayCT]

Originally Posted by Mike 75

Filing for unemployment is done online or by phone. There is no need to get an appointment. The question for me has always been, why can't the DMV use the same process for the run of the mill transactions that they currently require you to appear in person for.

Filing for unemployment is done online but you do have to go in for an employment review to go over your search for a new job. The weird part is not everything they do is by computer. They want some forms/information mailed or faxed to them. Also you cannot call them with an inquiry. They don't accept calls. I agree that DMV should be more online. Time to come into the 21st Century. But doing that will cost money and the state is trying to cut costs not increase them. Jay

[JayCT]

Originally Posted by 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.

Stable was not the right word. I was trying to keep my summary simple. Connecticut is following national trends which has been consolidation in the total number of funds but not necessarily in their total value. The trend is to invest in big funds rather than smaller new startups. Connecticut ranks No. 2 in assets manged under Hedge Funds after New York and is home to the two largest funds in the world, Bridgewater and AQR Capital Management. Those two alone employ 2,400 people. The head of Bridgewater, Ray Dalio, praised the area by saying:

“There’s a reason it’s the center of hedge funds; there’s a reason it’s such a great community. I have friends here that are neighbors and then friends from China, friends from Abu Dhabi, friends from Singapore. And that’s the essence of the place. It’s right next to New York City. … It’s just a wonderful town.”

There is no doubt that we are being attacked by other states trying to take firms from us but the article notes that the bigger threat is from New York and Boston rather than Florida which has not seen an increase in the number of funds based there in five years. The fact that this international event happened in Greenwich and not in New York or somewhere larger shows the importance of the area to the industry. Jay

[JayCT]

Another take on UTC's proposed breakup and its impact on the state. It pretty much agrees that the breakup will have minimal impact here with just the loss of a few jobs at Carrier's headquarters in Farmington. Other divisions and UTC's headquarters here should not be impacted. Will see. Jay

https://www.ctpost.com/business/danh...p-13435650.php

[BobNJ1960]

Originally Posted by JayCT

There is no doubt that we are being attacked by other states trying to take firms from us but the article notes that the bigger threat is from New York and Boston rather than Florida which has not seen an increase in the number of funds based there in five years. The fact that this international event happened in Greenwich and not in New York or somewhere larger shows the importance of the area to the industry. Jay

Attacked?

Building a good economy with terrific corps is no different than any other contest. It is fair play to raid other states. Much of Stamford came by raiding NYC & Westchester County and getting THEIR corps to cross state lines.

The world is our competition. We either embrace that, and rise to the challenge, or whine about it and fail. I hope we embrace the former.

Economically we cannot be attacked. We can face challenges. Lets see if we are up to them, and if not, shake the winners hand graciously.

[BobNJ1960]

Originally Posted by Mike 75

Filing for unemployment is done online or by phone. There is no need to get an appointment. The question for me has always been, why can't the DMV use the same process for the run of the mill transactions that they currently require you to appear in person for.

Other states DMVs do. To not do so reeks of headcount feather-bedding.

We can reduce state headcount far more by doing online, or via outsourcing, what functions many states have already moved away from archaic ways of handling.

[BobNJ1960]

Originally Posted by JayCT

Filing for unemployment is done online but you do have to go in for an employment review to go over your search for a new job. The weird part is not everything they do is by computer. They want some forms/information mailed or faxed to them. Also you cannot call them with an inquiry. They don't accept calls. I agree that DMV should be more online. Time to come into the 21st Century. But doing that will cost money and the state is trying to cut costs not increase them. Jay

Jay, It SAVES money. States going online w DMV slash DMV headcount. The online systems are capitalized expenses (Its a Fixed Asset per GAAP) spread over decades. The people gone are annual savings, for decades to come!

[JayCT]

Originally Posted by BobNJ1960

Jay, It SAVES money. States going online w DMV slash DMV headcount. The online systems are capitalized expenses (Its a Fixed Asset per GAAP) spread over decades. The people gone are annual savings, for decades to come!

I know that it saves money but it does require an investment to make a switch. Jay