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Monday, January 28, 2013

Bridgewater Move from Westport Drawing Skepticism

By Neena Satija

www.ctmirror.org

Stamford—There’s already a lot of skepticism about Connecticut’s $115 million deal with Bridgewater Associates, announced in August.

Critics say taxpayers’ money would be better spent on a cash-strapped school system, for example, than in helping the world’s largest hedge fund move its headquarters from Westport to Stamford. New Jersey and New York had also fought for the new headquarters.

After Hurricane Sandy, though, another aspect of the controversy has come to light: the fact that Bridgewater—CEO Ray Dalio’s net worth was listed as $10 billion by Forbes in 2012—plans to build its new headquarters on Stamford’s waterfront, smack in the middle of a high-risk flood zone.

Even Catherine Smith, commissioner of the state agency that’s giving Bridgewater up to $115 million for the project, was skeptical at first.

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Posted 01/28/13 at 11:04 PM



Comments

Comment Policy

At a time that the State is slashing it’s budget for human services and everything else, Bridgewater, and it’s enormously wealthy CEO should be ashamed of themselves for sucking up scarce taxpayer dollars. Paraphrasing some famous words, “Have you no decency sir?”

Posted by Mickey Herbst on January 29, 2013 at 01:27 AM | #
 

AGREED!!!!

Governor Malloy as well .......

Posted by Marcy Puklin on January 29, 2013 at 12:32 PM | #
 

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