OT: GE moving HQ to boston

tay2daizzo8 · Apr 7, 2016

Being from the area i think this is wicked cool, hopefully more manufacturing jobs will come, there has to be some sort of trickle effect with a move like this i would think. Any way i thought it was pretty cool. What do you guys think>

solidworkscadman · Apr 7, 2016

I think its BS that the taxpayers have to pay them to move here for their tax incentives.

Milland · Apr 7, 2016

GE's interested in what's good for GE - nothing else. If manufacturing jobs move to MA it's because politicians have bent over to offer more tax incentives and other cost offsets so the GE will deign to open a shop here. GE, like all multinationals, is totally uncaring about where its profits come from, or how they are created - just that they are present in a nice, regular fashion to maintain its stock values.

steve45 · Apr 7, 2016

What kind of tax incentives, etc. did your local politicians promise them (at YOUR expense)?

GE is not a company that I would consider an asset to the community.

gcude · Apr 7, 2016

I have seen GE buy out multiple manufacturing companies in our area and shut them down and ship all the jobs to Mexico within 2 years. I would be more concerned about hanging on to your existing manufacturing with GE in your neighborhood.

tay2daizzo8 · Apr 7, 2016

GE jet engine is right here in Lynn(about 15 min from boston) I dont think they are going anywhere...the state offered them 145 mil in tax incentives including 25m on property tax in the seaport district. Tax incentives dont matter anyway because GE has found away to have 0 tax liability for the past decade IIRC. I believe it will help manufacturers of the small start up "ultra high tech" field...which Boston and surrounding areas are known for.

Sea Farmer · Apr 7, 2016

It's corporate HQ that's moving, not manufacturing.

I'd be surprised if it had any effect on manufacturing at all.

It just gives them a better chance to snap up freshly-minted MBAs from MIT and Harvard, that's all.

It'll boost RE prices in expensive neighborhoods, already stratospheric. And add another 800 or so high-paid executives to the tax rolls.

Can't imagine much trickle down effects beyond Brooks Brothers and Whole Foods.

j r hayes · Apr 8, 2016

I have worked for them for the last 31 years. selling off appliances this year. what will I get out of it? I wouldn't expect much. been a good 31 yrs. but still have 6 more to go before I can retire.
They have there reasons for moving! jonathan

Joe788 · Apr 8, 2016

tay2daizzo8 said:
Tax incentives dont matter anyway because GE has found away to have 0 tax liability for the past decade IIRC.

No. Tax incentives are critical. GE pays a billion dollars in state, local, and payroll taxes all over the country every year. Those taxes have nothing to do with federal income tax, despite Bernie Sanders' expert opinion on the subject.

51cub · Apr 9, 2016

I have to agree with Sea Farmer, at least about the corporate hq. That's what we hear locally. GE says they've had enough of Malloy's policies.It's not hard to imagine. CT government is doing everything they can to drive business, and, for that matter, people, out of here. It's real easy to find people ready to leave

jscpm · Apr 9, 2016

GE doesn't manufacture things. They are a marketing company. It's just a bunch of guys in suits and ties moving to Massachusetts.

It's illegal to make things in Massachusetts because it's dangerous. Kids could get hurt.

People like myself have to operate clandestine operations in hidden work cells. The enemy (MASS DEP, MEP, EOPSS, LWD, PAP, etc) sends terminators to penetrate our cells and eliminate us. So far, a few of us are holding out.

I would not advise coming here.

amdinc · Apr 9, 2016

GE bought out Alstrom and put more demands on the Alstrom suppliers. A number of them are declining to bid.

John

hanermo · Apr 9, 2016

Get real guys, and do some actual facts.
2015 - 117 B turnover.

1 B in local taxes ==0.9 %.

333k employees == 3000$ /employee.
A good company might pay that per month / 2 months.

All above posts are also good. They dont agree - but all are still right. Imo.

A big manufacturer is good for the area. Yes.
Some tax offset (== NOT free money) is good. Yes.
Playing games with location/tax code is silly - yes.

If a company is good in one place then its good in another.
Its a fallacy born from incompetent erroneous biz school stuff that you want to maximise your returns.
Maximise - no.
Optimise - yes.

TDegenhart · Apr 9, 2016

jscpm said:
GE doesn't manufacture things. They are a marketing company. It's just a bunch of guys in suits and ties moving to Massachusetts.

It's illegal to make things in Massachusetts because it's dangerous. Kids could get hurt.

People like myself have to operate clandestine operations in hidden work cells. The enemy (MASS DEP, MEP, EOPSS, LWD, PAP, etc) sends terminators to penetrate our cells and eliminate us. So far, a few of us are holding out.

I would not advise coming here.

Don't kid yourself. GE is a major manufacturer of jet engines, locomotives and medical systems. They have the goal of being the major manufacturer in a product area so they can establish pricing. Businesses that become commodity businesses they jettison.

Tom

Heavey Metal · Apr 9, 2016

I am sure they would much rather have the money from the GE Capitol losses then the write off from them.Page Not Found - InvestorPlace | InvestorPlace

Mark Rand · Apr 10, 2016

amdinc said:
GE bought out Alstrom and put more demands on the Alstrom suppliers. A number of them are declining to bid.

John

It's Alstom, not Alstrom. They bought the power manufacturing part of the business, leaving the Transport side with the original company.

We thought when they said there were "great synergies" between the two companies it was because we had complimentary product lines that could be combined to create a stronger offering. Turns out that they are making 10,000 "synergies" out of a 34,000 workforce over the next two years.

I'm one of them...

Bill D · Apr 10, 2016

So these tax incentives are like a gift to the company. Does that mean they have to report the free ride as a gift and pay income tax on it? If not why not?
Bill D.

stephen thomas · Apr 11, 2016

It's corporate HQ that's moving, not manufacturing.

I'd be surprised if it had any effect on manufacturing at all.

It just gives them a better chance to snap up freshly-minted MBAs from MIT and Harvard, that's all.

It'll boost RE prices in expensive neighborhoods, already stratospheric. And add another 800 or so high-paid executives to the tax rolls.

Can't imagine much trickle down effects beyond Brooks Brothers and Whole Foods.

Well while MA is poaching execs, we here in Elmira would like to register our outrage and deep disappointment at the egregious theft, by Martha's Vineyard, of our much loved and appreciated airport manager this month.

But she will be a great asset for aviation in your area & is a wonderful person to boot.

smt

Sea Farmer · Apr 11, 2016

stephen thomas said:
Well while MA is poaching execs, we here in Elmira would like to register our outrage and deep disappointment at the egregious theft, by Martha's Vineyard, of our much loved and appreciated airport manager this month.
But she will be a great asset for aviation in your area & is a wonderful person to boot.

smt

Hey don't blame me, Martha's Vineyard is not part of Cape Cod, it's a different county!

It's a pretty nice place to live actually. It's cooler in the summer and warmer in the winter than the mainland. You can get around the whole island on a bicycle, which is good cuz gasoline is expensive. They have some nice farms there, and great produce.It's only 7 miles offshore, I've sailed there a few times, and paddled a sea kayak there once when I was young, strong and foolish. Presidents have an annoying habit of taking vacations there, but those disruptions only happen once a year. They have a nice state forest, and a dairy farmer leases grazing rights, so you can see the entertaining sight of cows wandering the woods.

It's fairly crime free, and in winter at least half the residents are sober during the day, which is a significant improvement over Nantucket, which is smaller and farther offshore. And is also its own county.

It's interesting how the loss of a local figure can affect the quality of life in a small place. Our postmaster retired a few years ago, and my village has never been the same.

I'm sure she'll be happy there.

tysonovsky · Oct 4, 2018

The only reason they haven't left is because they make Military jet engines. Those can't be outsourced.

OT: GE moving HQ to boston

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