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Old 06-01-2017, 12:33 PM   #21
budman3
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Re: The New Office Thread

I hadn't heard any news about this on here (forgive me if it's somewhere else) but it looks like Berkshire Bank is planning a headquarters move to Boston from Pittsfield as part of their acquisition of Commerce Bank. Not sure if that means overhauling existing space or perhaps expanding in downtown?

https://www.bostonglobe.com/business...HlO/story.html
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Old 06-01-2017, 12:35 PM   #22
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Re: The New Office Thread

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Originally Posted by FenwayResident View Post
Interesting, I wonder if this is just public negotiating? The person I know who works for Aetna was pretty confident the Boston deal was dead, but that was a couple months ago. It's possible they've re-opened talks, or they're just using this as leverage to get a better deal in NYC.
Interesting thought...but also, the notion (from the Courant article) that they might open a tech branch in Boston regardless of where HQ goes is nonetheless an intriguing proposition for our local economy / the "innovation district"
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Old 06-01-2017, 01:02 PM   #23
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Re: The New Office Thread

Quote:
Originally Posted by budman3 View Post
I hadn't heard any news about this on here (forgive me if it's somewhere else) but it looks like Berkshire Bank is planning a headquarters move to Boston from Pittsfield as part of their acquisition of Commerce Bank. Not sure if that means overhauling existing space or perhaps expanding in downtown?

https://www.bostonglobe.com/business...HlO/story.html
The bank has said that no jobs currently in Pittsfield will be moved:

Quote:
Originally Posted by MassLive
Berkshire Bank, with headquarters at 24 North St. in Pittsfield, has 332 employees at its facilities. No jobs will be moved or lost, spokeswoman Rachel Mabee said Monday. She said senior executives will have offices in both Boston and Pittsfield, and Pittsfield remains its regional headquarters and operational hub.
It sounds like their Boston HQ will be a small office (maybe one floor in an existing downtown tower) where execs can have desks and meetings can be held, but nothing more.
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Old 06-01-2017, 06:19 PM   #24
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Re: The New Office Thread

Shirley penned an open letter to Aetna five days ago,

https://www.bostonglobe.com/business...CRO/story.html

No truth to a rumor it was dictated by Marty.
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Old 06-01-2017, 06:32 PM   #25
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Re: The New Office Thread

Aetna would bring little to Boston. If they are serious about poaching companies from Connecticut they should be going after United Technologies and Pratt & Whitney. It might not be popular with the hard left but being a leader in the defense industry would do far more for the economy than insurance
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Old 06-01-2017, 06:41 PM   #26
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Re: The New Office Thread

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Aetna would bring little to Boston. If they are serious about poaching companies from Connecticut they should be going after United Technologies and Pratt & Whitney. It might not be popular with the hard left but being a leader in the defense industry would do far more for the economy than insurance
"Hard left" people think poaching a company with a market cap of 50B is better than poaching a company with a market cap of 100B? That seems like something you made up. (The internally consistent position of "don't compete for these things, its a race to the bottom" is distinct from either of those positions, and also the likely correct one).
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Old 06-01-2017, 07:00 PM   #27
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Re: The New Office Thread

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Originally Posted by kmp1284 View Post
Aetna would bring little to Boston. If they are serious about poaching companies from Connecticut they should be going after United Technologies and Pratt & Whitney. It might not be popular with the hard left but being a leader in the defense industry would do far more for the economy than insurance
Ignoring the "hard left" strawman, potentially hundreds of high-paying executive and corporate jobs would bring "little" to Boston? What are you smoking? That's millions of dollars per year in additional taxes and tens of millions (if not hundreds) of dollars per year spent on the local economy. Not to mention the additional revenue (and thus jobs/spending) this will bring to Boston-based consulting shops, legal services, and hospitality. It would also cement Boston as one of the leading insurance hubs in the world with Liberty Mutual, John Hancock and Aetna all headquartered here.
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Old 06-01-2017, 07:04 PM   #28
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Re: The New Office Thread

Quote:
Originally Posted by FitchburgLine View Post
"Hard left" people think poaching a company with a market cap of 50B is better than poaching a company with a market cap of 100B? That seems like something you made up. (The internally consistent position of "don't compete for these things, its a race to the bottom" is distinct from either of those positions, and also the likely correct one).
Aetna has a market cap of 145 and United Technologies is around 125 so in the same general range but one attracts a far more desirable workforce than the other. Any asshole can do insurance(ever been to Bermuda?) but United Technologies might actually retain some Harvard/MIT/Tufts grads.
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Old 06-01-2017, 07:13 PM   #29
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Re: The New Office Thread

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It might not be popular with the hard left but being a leader in the defense industry would do far more for the economy than insurance
Massachusetts is anti-defense industry? I hope nobody tells Raytheon.

The Commonwealth has healthy employment in defense. This random Deloitte report I found after 3 minutes of googling puts us 13th in the nation as of 2014, which is higher than our overall population ranking.

Hell, even Smith and Wesson is based here.
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Old 06-01-2017, 07:14 PM   #30
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Re: The New Office Thread

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Originally Posted by kmp1284 View Post
Aetna has a market cap of 145 and United Technologies is around 125 so in the same general range but one attracts a far more desirable workforce than the other. Any asshole can do insurance(ever been to Bermuda?) but United Technologies might actually retain some Harvard/MIT/Tufts grads.
Are you a troll? Apparently any asshole can't look at google finance: UTX Market Cap, AET Market Cap
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Old 06-02-2017, 08:46 AM   #31
kmp1284
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Re: The New Office Thread

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Originally Posted by FenwayResident View Post
Are you a troll? Apparently any asshole can't look at google finance: UTX Market Cap, AET Market Cap
Are you a dumbass(or do you just work in insurance)?

So in both cases, I'm off by a small margin. I didn't look those numbers up before I posted them. I knew that's about where they were based my knowledge of the two companies.
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Old 06-02-2017, 08:54 AM   #32
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Re: The New Office Thread

You're literally of by a factor of 3. (I'm beginning to suspect you did, in fact, pull the "far left" strawman out of your ass)

Wait, I just figured out what going on. You're citing the SHARE PRICE and calling it the MATKET CAP. I may be a far left dumbass, but at least I understand how valuations work. Super awkward that someone who calls others too liberal doesn't understand the simplest concept in all of investing.
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Old 06-02-2017, 08:56 AM   #33
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Re: The New Office Thread

I'll just say this:
One of Boston's strengths is that it's a multi-industry city.
I'm an engineer at heart, but still I feel there's reason to be excited about any major firm choosing to move here - especially if it helps us diversify.

But I agree that it's especially nice when it happens without major tax breaks or incentives. Hats will go off to Skanska if they can market and lease 121 Seaport without major sweeteners from Baker/Walsh. Same goes for BP w/ TD Garden Office Tower and HYM w/ One Congress further down the road.

Buckle up folks...let's hope there's some landmark dealmaking in our future...
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Old 06-02-2017, 09:18 AM   #34
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Re: The New Office Thread

Quote:
Originally Posted by kmp1284 View Post
Are you a dumbass(or do you just work in insurance)?

So in both cases, I'm off by a small margin. I didn't look those numbers up before I posted them. I knew that's about where they were based my knowledge of the two companies.
Your ignorance of basic financial concepts is stunning and profound. Yet, you call me (and an entire industry to boot) a dumbass. This is why we can't have nice things in the world.

I would suggest you educate yourself before commenting on anything finance related. Here's a good start.
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Old 06-02-2017, 03:27 PM   #35
jl326
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Re: The New Office Thread

Quote:
Originally Posted by kmp1284 View Post
Are you a dumbass(or do you just work in insurance)?

So in both cases, I'm off by a small margin. I didn't look those numbers up before I posted them. I knew that's about where they were based my knowledge of the two companies.
Quote:
Originally Posted by FitchburgLine View Post
You're literally of by a factor of 3. (I'm beginning to suspect you did, in fact, pull the "far left" strawman out of your ass)

Wait, I just figured out what going on. You're citing the SHARE PRICE and calling it the MATKET CAP. I may be a far left dumbass, but at least I understand how valuations work. Super awkward that someone who calls others too liberal doesn't understand the simplest concept in all of investing.
Quote:
Originally Posted by FenwayResident View Post
Your ignorance of basic financial concepts is stunning and profound. Yet, you call me (and an entire industry to boot) a dumbass. This is why we can't have nice things in the world.

I would suggest you educate yourself before commenting on anything finance related. Here's a good start.
Oh gosh.. thanks for the laughs today fellas, I needed it. Cheers!
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Old 06-29-2017, 10:44 AM   #36
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Re: The New Office Thread

Aetna moving to New York 2018.

http://www.marketwatch.com/story/aet...ry_latest_news
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Old 07-05-2017, 01:51 PM   #37
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Re: The New Office Thread

VM Ware is moving into a 38k sq/ft office space in Downtown Crossing's Lafayette City Center building this fall.

It's not clear if employees from other offices in Cambridge/Burlington will be relocated here or if this will be a new office altogether.

https://www.bisnow.com/boston/news/o...y-center-76034
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Old 07-06-2017, 10:59 AM   #38
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Re: The New Office Thread

Google is slowly consuming all of the FKA Cambridge Center buildings that they don't have. I think VMWare is moving and consolidating.
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Old 07-18-2017, 09:55 AM   #39
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Re: The New Office Thread

Apparently Facebook is looking to "greatly expand" its office presence in Greater Boston. Here' the BBJ link (behind a paywall): https://www.bizjournals.com/boston/n...office-in.html
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Old 07-18-2017, 02:16 PM   #40
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Re: The New Office Thread

^

Article sources say 80,000 to 120,000 square feet (current location is 18,500). Looking on both sides of the Charles.
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