Monday, January 28, 2013
Bridgewater Move from Westport Drawing Skepticism
By Neena Satijawww.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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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?”
Governor Malloy as well .......
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