State & Local Government Policy, Business and Technology

More Bad News as Connecticut Grapples With Its Deepening Budget Crisis

Route Fifty: As Connecticut’s political leaders grappled with the state’s unending fiscal crisis this month, an item of local news from New Canaan underlined the Nutmeg State’s struggles to remain a prosperous place.

Jeffrey Immelt, it turns out, has finally found a buyer for his house there, which has six bedrooms, six fireplaces and 11 bathrooms in 11,500 square feet of space on a four-acre lot.

Immelt, of course, is the chairman of General Electric Co., and he made big news last year when he announced that GE would move its headquarters from Hartford to Boston. It was a decision widely viewed as a protest against high-tax, business-unfriendly policies in Connecticut.

Read article