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The Liberty Mutual Tower
The city has broken ground on the 22-story, $300 million Liberty Mutual tower on the corner of Berkeley Street and Columbus Avenue. It's expected to create 500 construction jobs and 600 permanent jobs, but plans for the building have caused controversy, since it will shade, at minimum, a very small part of Boston Common. More info: http://patch.com/A-Xpj.
Boston Redevelopment Authority
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Liberty Mutual got a state and local tax break of $46.5 million to build an office tower near its Back Bay headquarters and create 600 jobs, according to a report in the Boston Globe. And it got the tax break while Liberty Mutual chairman Edmund F. “Ted” Kelly was paid about $200 million during the past four years.
Policyholders, watchdog groups and Globe columnist Brian McGrory cried foul.
What do you think? And how would you spend about $1 million per week? Tell us in the comment section below.
What do you think of the Liberty Mutual tax break? And how would you spend $1m per week?
Tell us in the comments.
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BackBayRes
1:18 pm on Friday, April 20, 2012
It never made sense for the City and the State to provide these tax breaks to a company which had no intention of leaving Boston and had no need for corporate welfare. But those who challenged the handout were attacked roundly as being "anti-jobs" and NIMBYs. The over-the-top salaries and perquisites lavished on Liberty Mutual's executives simply underscore how foolish the tax breaks were. Sadly, now there's probably nothing that can be done except hope that the Mayor and the BRA will be more respectful of taxpayers in the future.
Kasey Hariman
1:20 pm on Friday, April 20, 2012
The first thing I thought of was "I'll buy my apartment from my landlord, then I won't have to pay rent, and I can have some steady income from the other tenants," but then I realized -- with that kind of money I can afford to pay a lot of rent, and I won't need steady income from tenants.
Now I am thinking about a jetboat. Or maybe I would become a movie producer, and invest in blockbusters? Either way, having a sweet pad is a must, as well as some money for travel, and money for philanthropy. I think I can make that work on a budget of a million a week.
hongfeng
4:52 am on Monday, January 7, 2013
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