Connecticut’s political elite raced Wednesday to frame General Electric’s decision to abandon its 1970s-era campus in suburban Fairfield for a new global headquarters in downtown Boston as everything from merely disappointing to politically cataclysmic. Business feared politicians would draw the wrong lessons.
General Electric’s threat to leave Connecticut has morphed from a narrow complaint over taxes to a broader conversation with Gov. Dannel P. Malloy about economic stability in a state with a sputtering cash flow, high per-capita debt and worsening pension obligations.
In the news: The Iran nuclear pact survives; GE lobbies for the Export-Import Bank; the number in Connecticut without health insurance drops; the delegation opposes defunding Planned Parenthood; and the UConn women’s basketball team shows up at the White House — again.
WASHINGTON – Several members of Connecticut’s congressional delegation Wednesday promised General Electric CEO Jeff Immelt whatever help he needed in Washington. “We offered to do whatever we can,” said Sen. Richard Blumenthal, D-Conn.
WASHINGTON – General Electric announced Tuesday that it may move about 500 U.S. jobs to France, Hungary and China because of Congress’s failure to extend the charter of the Export-Import Bank. It is an issue that could also influence the Connecticut-based company’s search for a new headquarters.