News that GE is in a spot of financial trouble has set Shirley Leung to thinking about the $60 million the state spent on buying those Fort Point buildings for GE (and the $60 million it set aside for renovations and infrastructure upgrades) and what happens if the company just leaves Boston altogether or stays here a shrunken husk of its former self. Read more.
Reuters: GE vows $20 billion asset sales, 'sweeping change' as profit falls.
H/t Brian.
The Boston Business Journal reports:
A day after President Donald Trump signed an executive order rolling back regulations aimed at curbing climate change, General Electric CEO Jeff Immelt told employees the company will take a leadership role in fighting global warming.
The Globe reports GE has told the city and state, nope, never mind.
Odds that the city and state will now stop looking for a place to put a heliport?
Hi, I'm back.
It was a packed house at the Boston Convention & Exhibition Center (BCEC), on Wednesday night, as the local community gathered for a public hearing on a proposal to build a heliport facility somewhere in or near the South Boston Waterfront / Seaport District / Fort Point Channel. Read more.
Wicked Local Brookline reports Town Meeting tonight banned the landing of manned aircraft in residential areas. What? Was somebody with a GE logo on their car spotted prowling around town? No, must be something else; the Globe reports the public helipad Boston wants to build for GE will likely be on a pier behind the Blue Hills Bank Pavilion on the South Boston Waterfront.
The BPDA (formerly BRA) board yesterday approved GE's $200-million plans to turn two old Fort Point buildings into its new corporate headquarters.
In addition to housing GE brass and support staff, the buildings on Necco Court will house "Brilliant Lab" lab and work spaces available to BPS students and the public at large and a bistro and cafe. The company will also expand the neighboring Harborwalk and design the building's for energy efficiency and to survive increasingly high tides as the seas rise.
The board was scheduled to annoint GE's plans for two buildings on Necco Street at its monthly meeting today, but put off the discussion and vote because of a clerical error involving the agenda for the meeting.
Architect's rendering. See it larger.
GE and the Massachusetts Development Finance Authority today filed their formal plans for the company's new headquarters on Fort Point Channel that will include extensive renovations to two old candy buildings and construction of a new 12-story glass building.
In a filing with the BRA, GE says it hopes to begin roughly 15 months of renovation and construction this spring. In addition to the BRA, the state Department of Environmental Protection will also have to approve the project due to its location on former tidelands along Fort Point Channel. Read more.
UPDATE: Original "World Refrigerator Headquarters" headline changed, because GE is selling off its consumer-appliances division.
GE announced today it's buying a couple of buildings and land on Necco Street from Proctor and Gamble for its new world headquarters. Read more.
General Electric announced today it's moving its corporate headquarters to the South Boston waterfront from Connecticut. Read more.
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