News that GE is in a spot of financial trouble has set Shirley Leung to thinking about the $60 million the state spent on buying those Fort Point buildings for GE (and the $60 million it set aside for renovations and infrastructure upgrades) and what happens if the company just leaves Boston altogether or stays here a shrunken husk of its former self.
First she basically goes eh, could be worse: If the state's stuck with $120 million in buildings on Fort Point Channel, hey, turn that frown upside down - we can always re-sell them to Amazon. But then Leung reminds us:
Perhaps lost in the hoopla of bringing GE to town is that big companies can have big problems. Just as Boston basked in a crop of good headlines when GE chose us, we’ve got to brace ourselves for the bad news, too.
Hmm, hoopla? Like a Globe columnist writing an "open letter" to GE in 2015 that starts:
Don’t stay in Connecticut. Don’t go to New York. Move the headquarters of General Electric Co. to Boston, and here’s why: We, like your old motto, bring good things to life.
[T]ruth be told, Boston also needs GE. Over the years, our marquee companies have been swallowed up by out-of-state buyers. FleetBoston, nee Bank of Boston, is now owned by Bank of America. John Hancock is no longer all American, acquired by Canada’s Manulife. Filene’s, the storied department store brand, vanished when the company that owns Macy’s bought it. Gillette is now part of Procter & Gamble. And our biggest tech company, EMC, just got acquired by Dell.
Does this portend less hoopla in the Globe business section?