Kevin Blacker-Eversource is looking to sell their offshore wind assets. Cash in all the hand outs they got. Respler got Blue Lotus. Who's Eversource going to get to pass the goods too?
New London's host community agreement is only applicable if the project goes to full scope. Longshoremen are still out of work, talked to one today.
************************* Why we need "BOB" *************************
Connecticut — along with Massachusetts , Vermont, New York, New Hampshire — top worst property tax list... A report published by a Washington D.C. tax thinktank shows Massachusetts continues to rank the fifth worst for property taxes, a position it has held for three of the last four years and that analysts say may get worse even amid record tax revenues.
“Massachusetts property owners pay among the highest property taxes in the entire country,” Paul Craney, a spokesperson for the Massachusetts Fiscal Alliance said in a release following the report.
“(The) report comes after April’s state tax collections numbers show that Massachusetts collected nearly 80% more in taxes this April than last April,” he said.
April’s state tax revenue, published by the Department of Revenue last week, was $2 billion more than forecast.
Of the New England states only Maine and Rhode Island have better property tax rates. Connecticut’s is the worst in the nation, followed by Vermont, New York and New Hampshire.
The Tax Foundation, the tax policy nonprofit which publishes the annual property tax report, says that across the country, property taxes accounted for over a third of businesses’ tax burdens.
According to the Foundation, “in fiscal year 2020, taxes on real, personal, and utility property accounted for almost 38 percent of all taxes paid by businesses to state and local governments.”
That’s an ongoing problem in the Bay State that may soon be compounded, according to Craney.
In November, voters will decide the Fair Share Amendment, a rule which would add a 4% tax on incomes over $1 million to the state constitution.
“If their 80% tax hike passes, many affluent and small businesses will flee out of state, leaving the middle class to make up for the loss of tax collections, including property taxes,” Craney said.
Craney, and the nonpartisan Massachusetts Taxpayers Foundation, have both told the Herald the proposal would negatively impact not just businesses — but regular working class taxpayers.
According to Eileen McAnneny, MTF president, the tax would affect many so-called ‘one-time millionaires’ — people who sell a home or business — and those residents will almost certainly find another place to retire before selling their nest eggs.
The Tax Foundation’s report comes as both the state House and Senate chose to move forward on nearly $50 billion in spending for fiscal 2023 without any tax relief policies included in their budgets.
***************Stamford RTC Lincoln Dinner speaker Vivek Ramaswamy***************
WSJ: ‘Woke, Inc.’ Author’s Startup to Take On BlackRock
Backed by Peter Thiel and Bill Ackman, Vivek Ramaswamy’s Strive will tell CEOs to stay out of politics
An upstart financial firm backed by Peter Thiel and Bill Ackman has a message for American corporations: Focus on making money, not taking stands.
Vivek Ramaswamy, who made his fortune in pharmaceutical startups before writing a book last year called “Woke, Inc.,” says he has raised $20 million to start a fund manager that would urge companies not to wade into hot-button social or environmental issues. Mr. Thiel invested both personally and through his Founders Fund, joined by Palantir Technologies Inc. co-founder Joe Lonsdale and other venture investors.
Mr. Ramaswamy’s ambitions speak to the culture wars nipping at U.S. corporate executives. Under growing pressure from employees, investors and customers, many have taken public positions on political issues only to face criticism from the other side. Walt Disney Co. CEO Bob Chapek recently flip-flopped on whether to weigh in on a controversial Florida law, angering both camps. Coca-Cola Co. and Delta Air Lines Inc. received blowback last year for criticizing changes to election rules in Georgia.
The firm, called Strive, will be based far from Wall Street in Mr. Ramaswamy’s home state of Ohio. In an interview Monday, the 36-year-old dubbed his approach “excellence capitalism,” focused on letting companies do what they do best—and nothing else—and inveighed against what he sees as a creeping liberal bias inside BlackRock Inc. and its peers, Vanguard Group and State Street Corp., which he called an “ideological cartel.”
Those three firms in recent years have become almost unimaginably large, managing $20 trillion of assets. They have pushed companies to improve diversity, cut their climate emissions, and embrace other changes—largely under the banner of “stakeholder capitalism,” which considers other outcomes, not just profits, when assessing corporate behavior.
In one high-profile example, all three sided against Exxon Mobil Corp. in its fight against a small hedge fund that had criticized its climate-change strategy and was seeking board seats.
Mr. Ramaswamy says he wouldn’t have. “We will tell oil companies to be excellent oil companies and coal companies to be excellent coal companies and solar companies to be excellent solar companies,” he said. Mr. Ramaswamy has written for The Wall Street Journal’s opinion pages.
Representatives for BlackRock, State Street and Vanguard couldn’t immediately be reached for comment.
BlackRock Chief Executive Larry Fink has publicly pushed back on the idea that his personal politics have clouded the judgment his firm exercises when it votes its funds’ shares on behalf of investors.
“Stakeholder capitalism is not politics,” he wrote in January. “It is not a social or ideological agenda. It is not ‘woke.’ ”
Mr. Ramaswamy’s project began under cover months ago, code-named “Whitestone” to capture its aim of being the anti-Blackrock, people familiar with the matter said. It isn’t known what products it will offer, and it has a long way to go to rival the combined market power of the financial giants it seeks to challenge.
Larry Fink made 29.9 million in 2020, an 18% increase from the previous year. His net worth is 1.1 Billion. All from a guy that has done NOTHING innovative or cause for an improvement in our society. Disgraceful; and he's not alone. US executive pay is downright obscene!
Currently, the default is for Mr. Fink to vote for the shareholders. How many investors who hold individual company shares in an investment account would want their stockbroker voting their shares?
I am surprised a class action hasn't been filed yet accusing Fink of violating fiduciary standards. Imagine the payoff possible.
Along with some Stamford friends (Pat Sasser, Andy Wainwright, and George Fox), I am co-hosting a fundraising for Jessica Kordas, Republican candidate for attorney general. It will be this Thursday night, May 12, from 6-9 pm at the CT Cigar Company in Stamford, 43 Bank Street.
With your help, Jessica will retire Attorney General William Tong this November. Jessica is a Norwalk native and trial attorney at the Maddox Law Firm, with offices throughout Fairfield County.
I hope you will join me on Thursday. And even if you can't make it, I hope you will make a contribution. As Jessica is participating in the state's campaign finance program, she needs contributions between $5 and $290 from Connecticut residents to qualify. Any amount, large or small, is helpful and appreciated.