Bridgewater Plan Faces Letter-Writing Campaign

Aug 28 2012 | 10:42am ET

Connecticut Gov. Dannel Malloy has called his state's agreement to help Bridgewater Associates build a new headquarters in Stamford a "home run." The people who currently use the waterfront site eyed for the $750 million complex think it's more of a foul ball.

A group called Save Our Boatyard is pushing a letter-writing campaign to oppose Bridgewater's plans for the 14-acre parcel on Bateman Way in Stamford's South End. Maureen Boylan, who leads Save Our Boatyard, wrote that it "seems as though our Connecticut governor is on the move regarding destroying the boatyard with this investment company that wants to come here."

Malloy's deal with Bridgewater has also been criticized for the $115 million in incentives for the hedge fund giant. The governor has defended the deal, noting that it keeps more than 1,000 high-paying jobs in Connecticut, when Bridgewater could have easily moved from its current Westport campus to New York or New Jersey.

The governor also faces potential opposition from the city, which was not consulted. Stamford zoning board chairman Thomas Mills criticized Malloy for treating the plan like "a done deal."

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...