turn out the lights, the party s over....

[wesw]

GE leaves Connecticut for Mass.

they have just been placed on the no fly list by the connecticut governor.

this will prevent them from flying the coop, and leave them unable to blast their way out, as this prevents GE from owning guns

[Big RR]

Doing to Fairfield what it did to New London. GE, bringing their BS to light.

[Lord Jim]

Connecticut has been doing a pretty good job of driving away business. This article is from last June:

Elections Have Consequences: Connecticut's Governor Dannel Malloy May Have Lost The State GE

Connecticut may lose its highest-profile corporate employer and thousands of jobs as General Electric mulls leaving the state to avoid higher taxes Gov. Dannel Malloy approved as part of a $40 billion budget that imposed new levies on corporations, hospitals and high-income residents.

GE Chairman Jeffrey Immelt has circulated an e-mail memo to the company’s Connecticut employees saying he’s formed an “exploratory team” to look into moving the headquarters, Reuters reported. Since then the momentum has grown, with the state’s hospitals complaining that the budget will hike taxes on non-profits by $350 million while cutting Medicaid reimbursements to effectively trim their revenues.

A move by GE would be a serious rebuke to the fiscal policies of Malloy, a Democrat who oversees a Democrat-controlled legislature that has consistently turned to higher taxes instead of cuts to balance the state’s budget.

Malloy signed a $2.5 billion tax increase in 2011, then narrowly defeated Republican candidate Tom Foley by promising not to raise taxes again. [Serves them right for believing a promise from a Democrat not to raise taxes. That's like getting a promise from Mr. Fox to leave the chickens alone...] Yet months into his second term he began citing the need for more tax revenue and this budget raises taxes and fees another $1.5 billion, including extending a “surtax” on corporate profits and “unitary reporting” requiring companies to report and pay taxes on income on a worldwide basis. The bill also cuts tax credits to 50% of net income from 70%, doubles the tax on computer and data processing services to 2%, eliminates an exclusion for web site creation services, and increases the sales tax on “luxury items” by 25 basis points to 7.75%.

Marginal income taxes on married couples earning more than $500,000 — middle-class in towns like Greenwich and New Canaan — rise to 6.9% from 6.7%. Households earning more than $1 million pay a marginal rate of 6.99%.

Combined with threats by Aetna and Travelers, representatives of the state’s dwindling insurance industry, Immelt’s warning demonstrates how chronic fiscal mismanagement can eventually trigger a spiral in which rising demand for cash to pay municipal salaries and pensions can actually shrink a state’s economy as employers and high-earning residents flee the state. Connecticut’s gross domestic product grew an anemic 0.9% last year, less than half the national average, and the state’s costs regularly rank among the nation’s highest (the state ranked 36th last year on our annual list of The Best And Worst States for Business).

http://www.forbes.com/sites/danielfishe ... 4daf94c89d

They're doing a good job of driving away people, too:

Census: Thousands Of Connecticut Residents Moving To Other States, Fewer Moving In

Connecticut’s population is getting old, but it’s also getting out.

More than 82,000 people moved to Connecticut from other states in 2014, but more than 96,000 Connecticut residents moved out, according to new U.S. Census Bureau estimates.

That’s a net loss of about 13,285 Nutmeggers, or about 0.37 percent of the population, to other states — one of the 10 highest rates in the nation, the data show.

Where did they go? Mostly to New York (14,649 people), Massachusetts (13,287) and Florida (12,944), according to the estimates. More than 10,000 others left for California and North Carolina.

“It’s the economy,” said Orlando J. Rodriguez, an associate legislative analyst with the Latino and Puerto Rican Affairs Commission and the former director of the Connecticut State Data Center. “It’s the same thing it’s always been.”

http://www.courant.com/data-desk/hc-tho ... story.html

Last one out, turn off the lights...

[Big RR]

Perhaps jim, but GE has been doing a pretty good job of screwing wherever they are.

[Guinevere]

I have friends and family who work at GE in Fairfield, and its a big part of that community. GE has already been trying to see GE Capital (maybe it already has) which was headquartered in Stamford. In any event, GE is screwing its community. Again.

I'm not thrilled that I get to subsidize with my taxes one of the largest companies in the country, that pays so little back in corporate income taxes. And I bet they aren't going to be hiring that many MA residents -- some people will telecommute or travel back and forth from Fairfield (its about a 3 hour ride, each way).

[rubato]

Connecticut is barely a county in area or population.


One of the those uselessly small eastern states. WGAF? Watching them compete is like midget wrestling.


yrs,
rubato

[Big RR]

Not a big population, but more than 21 other states. And more electoral votes than many states as well. Not exactly tiny in its influence, even if it is small in area.

[Guinevere]

I love Connecticut, and people I love more than anything in the world live there --- so eff off, rube. If you'd ever been to Connecticut, you'd find it is a beautiful and diverse small state.

Size is *not* everything.

[Sue U]

Marginal income taxes on married couples earning more than $500,000 — middle-class in towns like Greenwich

Won't someone shed a tear for the "middle class" of Greenwich?














ETA: Not mocking your sis or the boyz, Guin, or even Connecticut; only mocking Greenwich.

[Big RR]

Not to mention, the tax rates of many other states are even higher. The marginal rate of $600,000 in NJ is nearly 9%, coupled with the highest property tax rates in the country. Damn republican governor.

[Sue U]

My fondest hope is to some day have income sufficient to pay the highest marginal rate.

[oldr_n_wsr]

only mocking Greenwich

Looks a bit like the Hamptons.

[Big RR]

Sue--I'd be happy for the bracket for the maximum rate to be bigger if I could cut my property tax rate to even the median value for the US.

[Sue U]

Looks a bit like the Hamptons.

Not as trashy.

[Lord Jim]

Not a big population, but more than 21 other states. And more electoral votes than many states as well. Not exactly tiny in its influence, even if it is small in area.

A lot of Manhattan business and media big shots live in or have second homes in Connecticut....

Sue has posted some photos of their modest country dachas....

[Guinevere]

There is no middle class in Greenwich or New Caanan. There are the landowners, who are stinking rich, and those who serve them -- most of whom live elsewhere.

A lot of the early exclusionary zoning cases came out of New Caanan, which tells you all you need to know.