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Old 05-19-2018, 07:35 AM
 
Location: Northeast states
14,055 posts, read 13,937,277 times
Reputation: 5198

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Quote:
Originally Posted by ayoskillz View Post
Ct wont lose much steam because of nyc. Nyc will keep ct from dipping worse than other states... now if nyc going down hill it will really be a slap in the face for the state
Why the state depend on NYC

 
Old 05-19-2018, 07:42 AM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by ayoskillz View Post
Ct wont lose much steam because of nyc. Nyc will keep ct from dipping worse than other states... now if nyc going down hill it will really be a slap in the face for the state
That is true but not entirely because of New York. Our economy is not a boom and bust one like other parts of the country. Even during the recession we did not see the issues seen in other parts of the country. Jay
 
Old 05-19-2018, 07:44 AM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by BPt111 View Post
Why the state depend on NYC
Only southwestern Connecticut is. The rest of the state, not so much. It’s about location and proximity but that is true of any state. Jay
 
Old 05-19-2018, 08:25 AM
 
34,053 posts, read 17,071,203 times
Reputation: 17212
Quote:
Originally Posted by cttransplant85 View Post
What's scary is that this is all happening during a national economic expansion, 25k dow. What happens if/when we enter a recession? What will state revenues look like during a recession? This is danger territory for CT. Need new leadership.
BINGO.

This is the biggest Ct economic underperformance of my life.
 
Old 05-19-2018, 11:23 AM
 
1,888 posts, read 1,184,903 times
Reputation: 1783
Quote:
Originally Posted by JayCT View Post
That is true but not entirely because of New York. Our economy is not a boom and bust one like other parts of the country. Even during the recession we did not see the issues seen in other parts of the country. Jay
Or the recovery
 
Old 05-19-2018, 12:01 PM
 
570 posts, read 477,687 times
Reputation: 618
I guess some have not been watching. Finance industry being hit hard in NYC in terms of support function exodus. Foreign money drove up RE pricing during last decade but local job market will not support these prices. Deutsche Bank is in tough shape and reducing roles, Credit Suisse and UBS sending NYC jobs to Raleigh and Nashville respectively. It is going on en masse all over and salaries being driven down accordingly.

Per Bloomberg

“New York’s hold on finance and investing jobs keeps slipping.

AllianceBernstein Holding LP is moving its corporate headquarters and about 1,050 jobs from the city known for Broadway shows to one more famous for country music. The company will begin moving workers to Nashville in 2018, and eventually plans to relocate finance, legal, and sales and marketing teams, among other functions, according to a filing Wednesday.”
 
Old 05-19-2018, 12:03 PM
 
Location: Coastal Connecticut
21,752 posts, read 28,086,032 times
Reputation: 6710
Quote:
Originally Posted by CT_Yank View Post
I guess some have not been watching. Finance industry being hit hard in NYC in terms of support function exodus. Foreign money drove up RE pricing during last decade but local job market will not support these prices. Deutsche Bank is in tough shape and reducing roles, Credit Suisse and UBS sending NYC jobs to Raleigh and Nashville respectively. It is going on en masse all over and salaries being driven down accordingly.

Per Bloomberg

“New York’s hold on finance and investing jobs keeps slipping.

AllianceBernstein Holding LP is moving its corporate headquarters and about 1,050 jobs from the city known for Broadway shows to one more famous for country music. The company will begin moving workers to Nashville in 2018, and eventually plans to relocate finance, legal, and sales and marketing teams, among other functions, according to a filing Wednesday.”
Meh. I haven’t seen any evidence of that. Colleague’s spouse is CEO of a fintech company in NYC and can’t hire fast enough.
 
Old 05-19-2018, 01:15 PM
 
34,053 posts, read 17,071,203 times
Reputation: 17212
Quote:
Originally Posted by CT_Yank View Post
.

AllianceBernstein Holding LP is moving its corporate headquarters and about 1,050 jobs from the city known for Broadway shows to one more famous for country music. The company will begin moving workers to Nashville in 2018, and eventually plans to relocate finance, legal, and sales and marketing teams, among other functions, according to a filing Wednesday.”
Nashville also has far more UBS jobs now than are employed by RBS and UBS in Stamford combined.
 
Old 05-19-2018, 01:16 PM
 
34,053 posts, read 17,071,203 times
Reputation: 17212
Quote:
Originally Posted by Stepfordct View Post
Or the recovery
 
Old 05-19-2018, 01:49 PM
 
Location: Northeast states
14,055 posts, read 13,937,277 times
Reputation: 5198
Quote:
Originally Posted by JayCT View Post
Only southwestern Connecticut is. The rest of the state, not so much. It’s about location and proximity but that is true of any state. Jay
Why CT cant create it own mini Atlanta or Boston
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