Incoming CEO of United Technologies, Greg Hayes, said the company is committed to Connecticut, at least for now. He said the company’s direction remains constant.
"The priorities: it’s the same. Nothing has changed at UTC," Hayes told analysts at an annual business outlook meeting in New York.
Hayes said he will keep reviewing and changing the company's portfolio of businesses. However, he made this commitment: "We’re not going to sell Sikorsky… but the fact is, we’re going to take a hard look at the portfolio and do what’s right."
Hayes also said there will be more focus on improving the share price, which has lagged in the last couple of years.
Hayes began his presentation by acknowledging the contribution of outgoing CEO Louis Chenevert, who retired abruptly two weeks ago.
Mohegans Eye Pot Business
The Mohegan Tribe may be getting into the marijuana business. The tribe, the owner of the Mohegan Sun casino said, is looking at the opportunity, in the light of a memo from the U.S. Justice Department, which said it will not try to enforce federal laws on marijuana on sovereign territory owned by tribes.
However, they must still reckon with an agreement entered into with Connecticut, obliging tribal police officers to enforce state laws on the reservation.
Unemployment Tax Outlook
Connecticut businesses are bracing themselves for the highest unemployment insurance tax in the nation. Connecticut is currently trying to pay off interest on federal loans it took out to keep current on jobless benefits during the recession.
An increase due to take effect in January will mean each employer paying $161.00 per employee. If the state had no outstanding loans, the tax would be $42.00 per employee.
