[BPt111]

Officials worried GE might donate its headquarters to university - Connecticut Post

[BobNJ1960]

Originally Posted by BPt111

Officials worried GE might donate its headquarters to university - Connecticut Post

That would be a smart move, and insure good use would be made of the complex.

[Mr_250]

Originally Posted by BPt111

Officials worried GE might donate its headquarters to university - Connecticut Post

That's what Fairfield needs, to loss a major Corp and then get nothing for the building in the form of taxes. $1.9m is a lot of money to be kissing goodbye if they bail.

But don't worry, GE will have no problem selling that building to another major corporation.
This is still so much in the air it's all a rumor that this point.

[BPt111]

Report: Stamford fund liquidating - StamfordAdvocate


Hedge Fund Lutetium Plans to Liquidate, Return Investor Cash - Bloomberg Business

[Raider111]

Originally Posted by BPt111

Officials worried GE might donate its headquarters to university - Connecticut Post

Nice way to screw the town to spite the state.
Fairfield will be begging for more teardowns at the beach.

[BicoastalAnn]

Originally Posted by BPt111

Report: Stamford fund liquidating - StamfordAdvocate


Hedge Fund Lutetium Plans to Liquidate, Return Investor Cash - Bloomberg Business

I read an article about how hedge funds across the board lost a lot of money this year (highest losses since financial crisis). I bet the state will be seeing a decent chunk missing from their projected tax revenue this year due to events like this.

[MrGompers]

Originally Posted by BicoastalAnn

I read an article about how hedge funds across the board lost a lot of money this year (highest losses since financial crisis). I bet the state will be seeing a decent chunk missing from their projected tax revenue this year due to events like this.

Yes I believe this was the worst year for the S&P 500 since 2008. The bonuses won't be as high for 2015 perhaps. A successful/unsuccessful year for the markets doesn't automatically mean lower wages and bonuses though. I'm sure some of the hedge fund managers bet against the market for 2015 and still made bank.

[BicoastalAnn]

Originally Posted by MrGompers

Yes I believe this was the worst year for the S&P 500 since 2008. The bonuses won't be as high for 2015 perhaps. A successful/unsuccessful year for the markets doesn't automatically mean lower wages and bonuses though. I'm sure some of the hedge fund managers bet against the market for 2015 and still made bank.

What about corporate taxes? Less profitable year for the company means less tax revenue, right? But I'm not very knowledgeable about how this industry handles that from a tax perspective.

And yes no doubt those hedge fund managers still made out pretty well!

[Mike 75]

Originally Posted by BicoastalAnn

What about corporate taxes? Less profitable year for the company means less tax revenue, right? But I'm not very knowledgeable about how this industry handles that from a tax perspective.

And yes no doubt those hedge fund managers still made out pretty well!

Most of these types of businesses are structured as pass through, so the owners pay the taxes on their individual tax returns.

[MrGompers]

Originally Posted by Mike 75

Most of these types of businesses are structured as pass through, so the owners pay the taxes on their individual tax returns.

That is correct and they only pay 15% on those earnings. So, collection of income taxes from hedge fund managers may not be greatly affected. Collection of corp taxes are more likely to be affected. I have no idea how many S&P corporations have HQ's in CT though, so the overall affect will probably be minimal at the state level.