It’s official. General Electric is now a Boston-based company. The former staple of Fairfield, Connecticut takes up its domicile in Massachusetts on Monday morning, some eight months after announcing it would leave the Nutmeg State.
Many employees remain behind, most at GE Capital in Norwalk. But GE moved 200 headquarters workers to Boston, and plans to hire several hundred more to work at its new campus in the city’s Seafront District.
Pfizer in $14 Billion Deal
Pfizer will pay about $14 billion in cash for the cancer drug company Medivation in a deal that will add a late-stage prostate cancer treatment to its oncology portfolio. The purchase price is a 21 percent premium to the San Francisco biotech's closing price on the markets on Friday. Pfizer said in addition to its approved drugs, Medivation also has promising pipeline of potential cancer treatments in late-stage clinical development.
Fiscal Year Projections See State in Black
There’s still a long way to go, but right now the administration is hopeful. Governor Malloy’s budget office said it expects the state to end this fiscal year about $200,000 in the black. In his official letter to state Comptroller Kevin Lembo, budget chief Ben Barnes said achieving that finely balanced goal will depend on tight control of spending at state agencies, which he admitted presents significant management challenges. Barnes also noted that revenue projections for the fiscal year that just ended were too optimistic - he said tax receipts bear watching this year.
