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Old 12-02-2015, 12:38 PM
 
Location: USA
2,753 posts, read 3,312,539 times
Reputation: 2192

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Quote:
Originally Posted by BPt111 View Post
Do you think GE going to stay in CT ? A 20% chance ?
50/50....
Atlanta is out.
Options are either Boston, Downstate New York, and staying in Fairfield, Connecticut.
Westchester County seems like the best option ATM. Though I'm surprised they haven't said anything about Upstate NY by Albany. GE has offices in upstate NY so maybe they may move the rest of them up there...who knows...

 
Old 12-02-2015, 02:38 PM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by HumpDay View Post
50/50....
Atlanta is out.
Options are either Boston, Downstate New York, and staying in Fairfield, Connecticut.
Westchester County seems like the best option ATM. Though I'm surprised they haven't said anything about Upstate NY by Albany. GE has offices in upstate NY so maybe they may move the rest of them up there...who knows...
I doubt they would want to be so far from a major city. I would even be surprised if Boston is real. I can see Westchester or Manhattan, not much else. But then again, you never know. Jay
 
Old 12-02-2015, 02:47 PM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by Mr_250 View Post
It depend on where they move (of IF they move). If they move to Westchester I bet most people will keep their homes in CT. But the loss of a major tax payer will have to be made up somehow which means leaving the current home owners on the hook.
As I posted before, you are talking only 800 jobs out of nearly 419,000 in Fairfield County. That is about 0.2% which is not a lot. It would hurt but would hardly be the end of the world and likely be a small blip in the housing market. Jay
 
Old 12-02-2015, 04:53 PM
 
34,053 posts, read 17,064,521 times
Reputation: 17212
Quote:
Originally Posted by JayCT View Post
As I posted before, you are talking only 800 jobs out of nearly 419,000 in Fairfield County. That is about 0.2% which is not a lot. It would hurt but would hardly be the end of the world and likely be a small blip in the housing market. Jay

800 with most likely 10x the median buying power, which is the same buying power as 2% of routine FFC jobs.


Plus an enormous amount of supplier revenue caters to hqs like this, and they employ folks, too.
 
Old 12-02-2015, 07:30 PM
 
Location: Ubique
4,317 posts, read 4,205,955 times
Reputation: 2822
Quote:
Originally Posted by Mr_250 View Post
Seems like Malloy is now realizing that maybe GE is important to the State. He said the Unitary tax will now be changed. Malloy Meeting With GE on HQ; Changing Unitary Tax - Hartford Courant

GE still has concerns about what the future holds. 2 years from now we will have a deficit of $1.3 Billion and that means another tax hike. GE might think Malloy is looking at all these corporations to stay so they can be taxes later.

We will see how it goes tomorrow. Hopefully they put the correct jet engine on the cover of the presentation this time.
Businesses go where there is a stable tax regime. This flip-flopping rollercoaster, where the only thing predictable is unpredictability, -- this is definitely a negative that must weigh a lot on spreadsheets of GE wizards.
 
Old 12-02-2015, 07:31 PM
 
Location: Ubique
4,317 posts, read 4,205,955 times
Reputation: 2822
Quote:
Originally Posted by HumpDay View Post
50/50....
Atlanta is out.
Don't believe everything you hear.
 
Old 12-03-2015, 07:46 AM
 
Location: Connecticut
34,933 posts, read 56,945,109 times
Reputation: 11228
Quote:
Originally Posted by BobNJ1960 View Post
800 with most likely 10x the median buying power, which is the same buying power as 2% of routine FFC jobs.


Plus an enormous amount of supplier revenue caters to hqs like this, and they employ folks, too.
"Enormous amount of suppliers"??? This is a corporate office not a major manufacturing operation. No doubt there would be an impact, it is just not going to be the end of the world. The area has more than a few high paying companies. GE is just one. Again not the end of the world. Jay
 
Old 12-03-2015, 08:06 AM
 
2,695 posts, read 3,489,693 times
Reputation: 1652
Quote:
Originally Posted by JayCT View Post
As I posted before, you are talking only 800 jobs out of nearly 419,000 in Fairfield County. That is about 0.2% which is not a lot. It would hurt but would hardly be the end of the world and likely be a small blip in the housing market. Jay
800 direct jobs plus any feeder jobs. Also, the empty property that no one will be paying taxes on (at least in the short term).

Not the end of the world, but FFC is not replacing these high paying jobs with other high paying jobs. 800 high paying jobs is a lot. .2% is a small amount but how much does that .2% contribute to the over all economy. I would venture that 800 high paying jobs contributes more to the economy than 1600 low paying jobs.

And now Malloy seems to be eating words because he is meeting with them tomorrow and beg for them to stay. If GE leaves while he is on the job it would look TERRIBLE for him in his new role as DGA Chairman.
 
Old 12-03-2015, 08:28 AM
 
Location: USA
2,753 posts, read 3,312,539 times
Reputation: 2192
Quote:
Originally Posted by Mr_250 View Post
800 direct jobs plus any feeder jobs. Also, the empty property that no one will be paying taxes on (at least in the short term).

Not the end of the world, but FFC is not replacing these high paying jobs with other high paying jobs. 800 high paying jobs is a lot. .2% is a small amount but how much does that .2% contribute to the over all economy. I would venture that 800 high paying jobs contributes more to the economy than 1600 low paying jobs.

And now Malloy seems to be eating words because he is meeting with them tomorrow and beg for them to stay. If GE leaves while he is on the job it would look TERRIBLE for him in his new role as DGA Chairman.
Malloy deserves to be thrown under the bus if GE tells him they're leaving. It's about time he realizes his actions meet consequences because these large corporations lasted a lot longer than I thought with these new tax hikes. I never been so amazed to see how much the taxes have gone up over the past 5-6 years. I don't blame GE at all.
 
Old 12-03-2015, 02:55 PM
 
2,971 posts, read 3,180,209 times
Reputation: 1060
Quote:
Originally Posted by Mr_250 View Post
800 direct jobs plus any feeder jobs. Also, the empty property that no one will be paying taxes on (at least in the short term).

Not the end of the world, but FFC is not replacing these high paying jobs with other high paying jobs. 800 high paying jobs is a lot. .2% is a small amount but how much does that .2% contribute to the over all economy. I would venture that 800 high paying jobs contributes more to the economy than 1600 low paying jobs.

And now Malloy seems to be eating words because he is meeting with them tomorrow and beg for them to stay. If GE leaves while he is on the job it would look TERRIBLE for him in his new role as DGA Chairman.
An employee jokingly told me if the building ever blew up it no biggie since no one is ever there.

Many tops, VPs, etc work remotely and live out of state.
They would still own the building so still have to pay prop taxes.
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