WASHINGTON – Restrictions on Pentagon spending and uncertainty over federal government budgets are key reasons the company is considering selling or spinning off Sikorsky Aircraft, United Technology CEO Greg Hayes said.
United Technologies
Posted inPolitics
DeLauro reproves UTC chief over possible Sikorsky selloff
WASHINGTON – Rep. Rosa DeLauro, a Democrat who represents a congressional district that is home to Sikorsky Aircraft, blasted United Technology Corp. CEO Greg Hayes on Thursday, saying he is going back on his word to keep the helicopter maker in Stratford.
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Connecticut mayors enter the fray over Export-Import Bank
Washington – Several Connecticut mayors have joined their counterparts in dozens of cities across the nation in writing to congressional leaders, urging them to reauthorize the Export-Import Bank, a government agency that makes it easier for American companies to make overseas sales.
Posted inMoney, Politics
DeLauro breaks with Obama, big CT firms on Pacific trade deal
WASHINGTON – Rep. Rosa DeLauro is on a collision course with President Obama and some of Connecticut’s largest companies over a proposed trade deal with 12 countries on the Pacific Rim that span from Chile to Japan. DeLauro, D-3rd District, has become a leading opponent of the president’s plans for the Trans-Pacific Partnership, or TPP.
Posted inMoney
Malloy says new UTC leader committed to state
Gov. Dannel P. Malloy said Tuesday he was untroubled by the sudden rise of Gregory J. Hayes, who infamously denounced the Connecticut business climate to Wall Street investors in 2010, as the new chief executive of the state’s largest employer, United Technologies Corp.
Posted inMoney, Politics
Little-known Ex-Im Bank hot issue in 2nd District race
WASHINGTON –A battle has erupted in the race between Rep. Joe Courtney, D-2nd District, and his Republican opponent, Lori Hopkins-Cavanagh. It centers on a financial institution little known outside the business world.
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CT defense giants increasingly political as Pentagon budget shrinks
WASHINGTON – Connecticut’s largest defense contractors are stepping up political donations to key lawmakers as competition increases for shrinking defense dollars.
Posted inMoney, Politics
Support builds for UTC deal, but questions linger
Leaders of two crucial state legislative panels offered strong endorsements Monday for Gov. Dannel P. Malloy’s proposal to provide up to $400 million in tax relief for United Technologies in exchange for its major investment in its Connecticut aerospace industries.
Posted inMoney, Politics
CT defense contractors largely spared from Pentagon cuts
Washington – Sikorsky’s plans to build new helicopters for the Air Force were kept alive as President Obama’s unveiled his new budget Tuesday. Pratt & Whitney was nicked and Electric Boat remains unscathed.
Posted inMoney, Politics
UTC deal draws cautious responses at Capitol
Is it OK to offer big tax relief to a corporation that retains the option to cut thousands of jobs in the years to come?
Posted inMoney, Politics
Malloy seeks tax relief to trigger $500M expansion for UTC
United Technologies Corp. would launch a major $500 million investment in its research, training and corporate facilities later this year in exchange for $400 million in tax relief over the next two decades under a deal Gov. Dannel P. Malloy announced Wednesday.
Posted inMoney
Connecticut companies worry they’ll lose valuable R&D tax break
Washington – Corporations like Pfizer, United Technologies, Alexion and others spend millions on research each year, hoping to develop new products or processes that contribute to their bottom line.
Posted inMoney
Malloy praised by UTC exec who panned state business climate
Gregory J. Hayes, the prominent executive who rattled the political establishment a year ago by telling Wall Street that “anyplace outside of Connecticut is low cost” when it comes to doing business, gave a thumbs up Tuesday night to the new governor’s approach to finance and economic development. Gov. Dannel P. Malloy shared a stage […]