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Except there are other reasons to go into the bank that people forget about until it’s needed. There are occasions that people need bank or certified checks or need to exchange currency. There are people that need to deposit cash or coins (still used by some). People still use safety deposit boxes or need a Notary Public. And then there’s the most important reason of all, when the bank makes a mistake and you need to straighten it out with someone in person. Jay
Notary publics are pretty common. I should know because I was one. The qualifications are pretty straightforward. Any city/town clerk pretty much has to be a notary, lawyers can easily act as one, maybe even paralegals. Sometimes elderly services in towns also has them. Generally speaking I find that banks don't make that much for mistakes and even then they'll just tell you to go online or by the phone. Since banks are national if not international they need 800 numbers that are staffed probably 24/7 and maybe outsourced overseas. They can't have a bank open 24/7.
Certified checks and currency exchanges are fine but that's still not as common. Coinstar can take coins. Fareboxes and bill validators can eventually break down which is why there's a shift. Look at public transit. Just use an app and you can prevent the needs to use cash.Safe deposit boxes can be ok but it's limited. Take a look at this. The banks of hartford made this because theirs wasn't safe enough (hartford was a targeted city during the cold war like many others)
Back to the economy I was just in hartford today. Panera bread was closed lasted eight years I guess, freshii next to it is closed. Pratt Street looks very interesting but I only saw about five people. There's a ton of potential there but it is pretty small relative to the size of the city. If more of the city looked like that the whole place would be totally different. This is at noon on a friday. You feel pretty alienated with the lack of people and the amount of buildings and office space. The state house square its entire food court is closed, there was just one guy riding a sweeper. There was a farmers market starting up with a band (decent guitar) but again hardly anyone there. Weather was perfect plenty of sun. I think it's telling in that it isn't the government imposing a shutdown it's frankly because people just don't want to work in hartford. I'm sure this place isn't alone in this. Plenty of parking and traffic was OK.
Spot on. They are being shipped all over the US unfortunately. Border states are prohibited btw from testing them for Covid. JB's "Don't ask, don't tell".
They are mostly being shipped to sanctuary states, like CT. Each one of them has a massive price tag to feed, cloth, shelter, & provide healthcare for them. CT taxpayes are being hosed, but most are so rich, they can't be bothered by this swarm of gnats.
If you are a taxpayer, not in the top 1%, I suggest you think long and hard about what it will take to turn the economic climate back into your favor. You are on the ropes, & your face is a bloody mess.
It’s not a rant it’s facts. Who do you think who’s going to pay for this? This will certainly affect CT budget.
It's concerning to me that you asked the most important question of them all, and there are still people who don't even want to bother understanding the politically controlled economic policy and the incentive structure before trying to push out.
I mean, are there seriously still people out there that think printing money the way we are and handing it out is in any way sustainable? I'm not talking about just CT budget either, it's all being hyperinflated as we speak. Houses and stocks aren't going up in value, the dollar is just losing purchasing power at an incredible rate. Illegal's voting who are receiving handouts to not work are incentivized to continue voting in the same. They believe they are beating the system, but the system that placed them there are the real winners. Citizens who get manipulated into thinking their stim checks and endless unemployment is just their party doing what's right are the dumbest of them all and easiest to rely on votes. The ones handing it out know that. With all this, the separation of wealth even gets wider. The ones actually needing the handouts are spending it before it hits their account, where the wealthy are buying stocks, real estate, bitcoin, and making 4x returns in 12 months. But what does that gain mean when you see 30% of the entire circulating dollar supply get created and pumped into the economy in only 1 year? That's what a lot of people are trying to figure out, and that lot of people is a much smaller number than the illegals+citizens who are incentivized to stay dumb and continue voting as told.
"Help at last! The House relief bill will provide free 'Going Out Of Business' signs to small business owners!"
They are mostly being shipped to sanctuary states, like CT. Each one of them has a massive price tag to feed, cloth, shelter, & provide healthcare for them. CT taxpayes are being hosed, but most are so rich, they can't be bothered by this swarm of gnats.
If you are a taxpayer, not in the top 1%, I suggest you think long and hard about what it will take to turn the economic climate back into your favor. You are on the ropes, & your face is a bloody mess.
There was already a tipping point, and the battle was lost. The rational ones left or are thinking about leaving. I dont think "most are so rich, they can't be bothered". Don't underestimate smart one's that got to where they are by assuming they don't have the capability to see what's happening. Many are leaving CT, but replaced with even a greater fool pool flocking from deep pocketed states that are even more derailed from rational thought (sorry new yorkers). Growing up in CT makes it hard to want to leave, but i'm done giving money to a bloated and wasteful army of corrupt democrat bureaucrats and career long politicians. I'm also done participating in a useless group and community that allowed it to happen to begin with.
They are mostly being shipped to sanctuary states, like CT. Each one of them has a massive price tag to feed, cloth, shelter, & provide healthcare for them. CT taxpayes are being hosed, but most are so rich, they can't be bothered by this swarm of gnats.
If you are a taxpayer, not in the top 1%, I suggest you think long and hard about what it will take to turn the economic climate back into your favor. You are on the ropes, & your face is a bloody mess.
Yes, as someone who recently moved to CT to be closer to family, and is looking to buy a house, this article really stopped me in my tracks. I had plans to go to open houses this weekend, but I don’t think I’ll bother. I’ve been in CT for a few months now and seeing what’s happening in CT, I don’t think I’ll be able to pull the trigger and buy a house here, despite all my family being here. I work from home so now I’m thinking I can come for extended visits to CT. I’m less than 10 yrs. from retirement and things are not looking good for long term economics in CT. Given what’s happening in the state, I really don’t think I would want to live here when I retire. I feel bad for my young nieces and nephews who are working minimum wage jobs and have to pay for this. Also, the elderly who have very limited income and who’s benefits are and will be diminished because of people who came into the country illegally and are being rewarded.
Thank you for reminding me that CT is a sanctuary state!
"The number of lost jobs could go down, in part, because M&T has determined that there are 1,500 open positions across its entire footprint across the Northeast. Of the open positions, approximately 1,000 are not tied to a specific location.
People’s United employees losing their jobs would be given first priority for those positions, which include both hybrid and remote work options."
2/3rds of their new job openings are hybrid or remote. So you don't need to get some fancy house of over $1000000 in Fairfield County in order to have some insurance or Finance job in Midtown Manhattan.
As part of a rotten number I don't think this is going to hurt Fairfield County immediately. Bridgeport sure. But the trend of this clearly is not going to go well for Fairfield County. It's not the layoffs it's the new jobs. Technically they have more new jobs and layoffs and they clearly are not being tied to a given location. At what point are you going to see major employers like JPMorgan and Goldman Sachs doing the same.
"The number of lost jobs could go down, in part, because M&T has determined that there are 1,500 open positions across its entire footprint across the Northeast. Of the open positions, approximately 1,000 are not tied to a specific location.
People’s United employees losing their jobs would be given first priority for those positions, which include both hybrid and remote work options."
2/3rds of their new job openings are hybrid or remote. So you don't need to get some fancy house of over $1000000 in Fairfield County in order to have some insurance or Finance job in Midtown Manhattan.
As part of a rotten number I don't think this is going to hurt Fairfield County immediately. Bridgeport sure. But the trend of this clearly is not going to go well for Fairfield County. It's not the layoffs it's the new jobs. Technically they have more new jobs and layoffs and they clearly are not being tied to a given location. At what point are you going to see major employers like JPMorgan and Goldman Sachs doing the same.
Bridgeport will be most affected, as it is a one trick pony, in terms of having meaningful, downtown hqs. It had one-Peoples. This was inevitable, as anyone studying trends could see Peoples was too small to stand alone.
Your points, though, are spot on. Remote can be anywhere, and more corps are going remote now than ever, or multiple cities open to candidates. NYC big banks will also, at least for non major customer focused staff. Add in, others will follow Alliance Bernstein and Icahn out of NYC. That will be bad for FFC, as WS is primarily why 15% of FFC work in NY.
Yes, as someone who recently moved to CT to be closer to family, and is looking to buy a house, this article really stopped me in my tracks. I had plans to go to open houses this weekend, but I don’t think I’ll bother. I’ve been in CT for a few months now and seeing what’s happening in CT, I don’t think I’ll be able to pull the trigger and buy a house here, despite all my family being here. I work from home so now I’m thinking I can come for extended visits to CT. I’m less than 10 yrs. from retirement and things are not looking good for long term economics in CT. Given what’s happening in the state, I really don’t think I would want to live here when I retire. I feel bad for my young nieces and nephews who are working minimum wage jobs and have to pay for this. Also, the elderly who have very limited income and who’s benefits are and will be diminished because of people who came into the country illegally and are being rewarded.
Thank you for reminding me that CT is a sanctuary state!
1) What county & state are are you coming from?
2) What county in CT are you in now?
3) What area were you thinking of buying a house in CT?
You are probably correct. If you work from home and don't need good schools there are lots of places you can live besides CT.
Just so you know a single person over 65 does not have to pay taxes on income under $60,000. The state of CT gives seniors a property tax break and many towns have additional property tax relief too.
"I feel bad for my young nieces and nephews who are working minimum wage jobs and have to pay for this."
I would feel bad for the people on minimum wage down south. You know all the people moving down south from the north? They are pushing the house prices higher and higher. I feel bad for minimum and moderate wage people down south. Out of Fairfield County things will be good in CT for lower and moderate wage workers.
1) What county & state are are you coming from?
2) What county in CT are you in now?
3) What area were you thinking of buying a house in CT?
You are probably correct. If you work from home and don't need good schools there are lots of places you can live besides CT.
Just so you know a single person over 65 does not have to pay taxes on income under $60,000. The state of CT gives seniors a property tax break and many towns have additional property tax relief too.
"I feel bad for my young nieces and nephews who are working minimum wage jobs and have to pay for this."
I would feel bad for the people on minimum wage down south. You know all the people moving down south from the north? They are pushing the house prices higher and higher. I feel bad for minimum and moderate wage people down south. Out of Fairfield County things will be good in CT for lower and moderate wage workers.
Minimum wage anywhere tend to exist in families with middle class median incomes, so location for them tends to depend on where the ones providing for them wish to be. Middle class everywhere, including Ct, who do rent are facing a huge dose of rent inflation. In short, those who pay are making up for those who do not pay rent- latter using the moratorium as the excuse. Those who used it to be severely behind will not pay it back, but will be evicted when the moratorium is again struck down, properly, by SCOTUS. I also think wise landlords should jack rents up now, to entice higher income tenants (as lower income ones can't afford it). It reduces the odds a future moratorium is weaponized against landlords again, in Ct and every state.
1) What county & state are are you coming from?
2) What county in CT are you in now?
3) What area were you thinking of buying a house in CT?
You are probably correct. If you work from home and don't need good schools there are lots of places you can live besides CT.
Just so you know a single person over 65 does not have to pay taxes on income under $60,000. The state of CT gives seniors a property tax break and many towns have additional property tax relief too.
"I feel bad for my young nieces and nephews who are working minimum wage jobs and have to pay for this."
I would feel bad for the people on minimum wage down south. You know all the people moving down south from the north? They are pushing the house prices higher and higher. I feel bad for minimum and moderate wage people down south. Out of Fairfield County things will be good in CT for lower and moderate wage workers.
Some of this information is incorrect.
Florida voters approved $15 minimum wage in the last election.
Connecticut will hit $15 in June of 2023.
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