Recent comments in /f/massachusetts

Thick_Debt7757 t1_j9ok1ac wrote

A murder did take place connected with their other Long Island campus a few years ago and they’re still running. If you look at some of the reviews they’re horrifying. I hope someone investigates this place.

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Prestigious_Ad5677 t1_j9oidun wrote

You’re all overlooking one important aspect of this issue— you can blame politicians and colleges for making cities and towns unaffordable for renting and buying homes.

They have taken full control over real estate. Lots of shoddy development by unskilled labor building condos.

I grew up within a 4 mile radius of Cambridge/Somerville and have been sounding the alarms at town meetings for over a decade.

Nothing will change. Colleges are running things now and pols are only happy to reap the benefits to include their career ambitions.

There are good landlords and bad landlords — the bad don’t maintain rentals, however many who are fair, are caught in the same trap who do maintain their units and still charge below market rates.

However, that’s now changed due to steady increases in real estate tax and cost of the price gouging contractors who are also to blame for the unaffordability in this area. They assume every landlord is a millionaire due to high rents. That is an incorrect assumption. Many are single dwelling home owner occupied landlords trying to make ends meet. They do this intentionally to drive us out, but many of us can sail along until the next wave. If you paid attention to the past 20 years, you understand the cycles. It will eventually level off but remain a place that only the wealthy can afford. When WS decides to tank investments, maybe there will be a break in development but their goal date is 2030 in this region. The predicted date for completion of a four mile sprawling campus for 3 colleges who no longer will be concerned with babysitting dormitories- they took our properties so they won’t have to deal with liabilities.

There’s also clear evidence of elder discrimination and abandonment as more monied liberals like we saw take over San Francisco, causing this issue.

Some of the pols have lost sight of their responsibilities towards those they have sworn to protect and are guilty of conflict of interest due to taking advantage of family interests in development.

Thousands have been driven out to build wet labs and entrepreneurial businesses by colleges. Most of this is not shared with the media for distribution.

I left a 25 year career in academia and happy to say I’m out. It’s only going to get worse. Realtors are renting out apartments and condos throughout winter this year. It’s no longer a September 1st starting date.

There is a big surge in more monied seekers looking to live here and GLX, is also the catalyst that got us here.

I have family in NH who left 20 years ago. They retired from contracting businesses, who knew the incoming changes due to contacts early on. But they are 200 miles north near Franconia. It’s still too rural a place for those raised in urban communities. Every region has their advantages and downside. Do your research before you move.

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WaketheDeadDonuts t1_j9oi60r wrote

Ha, absolutely, but that's not the point.

Parking one's bike in sleepy Northampton, taking a nap, then waking up in Manhattan without having to find parking is a dream.

Still, driving and parking in Manhattan rarely takes less than 4 hours and can take significantly longer depending on traffic, so 4.5 hours on a train is nothing.

I can drive to Boston in under 2 hours, but between busing to Springfield and busing to Boston, it would be 6 hours...not even close.

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theurbanmapper t1_j9ohu78 wrote

Just a warning about Greatwoods (as it used to be called and many of us still call it). It is a pain to get to and hell to leave. If you are from a country where you don’t drive much might want to consider that. You’ll be sitting in the parking lot for at least an hour after the show before you get to the highway to start your journey.

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wittgensteins-boat t1_j9of9uc wrote

Fidelity changes its corporate structure:
Conversion to LLC could save millions for firm, boost profits.

By Ross Kerber, Globe Staff
November 3, 2007.

http://archive.boston.com/business/markets/articles/2007/11/03/fidelity_changes_its_corporate_structure/


Boston mutual fund giant Fidelity Investments has changed its corporate structure, a move that could save it hundreds of millions of dollars in taxes and boost profits.

The umbrella company for Fidelity's holdings, a company previously known as FMR Corp., was converted into a limited liability company called FMR LLC, according to a company spokeswoman and recent securities filings.

Under state revenue law, most limited liability companies do not pay corporate taxes. Taxes on their profits are paid directly by the shareholders. In traditional corporations, taxes are paid both by the corporation and by individual shareholders.

Fidelity spokesman Vincent Loporchio wouldn't discuss the motives for the shift in detail except to say: "We believe the LLC is the most advantageous organizational structure from a legal point of view."

Fidelity is one of the state's largest companies, reporting $1.2 billion in profit last year on revenue of $12.8 billion. The company employs about 46,000 people worldwide and about 13,000 in Massachusetts.

The change in Fidelity's corporate structure was first reported yesterday by Bloomberg News. The Boston Globe reported in June the company was in the process of transforming itself into what is known as an "S corporation" organized under subchapter S of Internal Revenue Service rules, giving it a similar tax structure at both the state and federal levels. Like LLCs at the state level, S corporations avoid double taxation by eliminating most corporate tax payments.

Joseph Newpol, a Bentley College taxation professor, said converting the company to an LLC at the state level is a necessary step to becoming an S corporation.

The shift to S corporation status doesn't appear to have happened yet, however, Newpol said, based on an Oct. 15 filing to the Securities and Exchange Commission. It states the new company, FMR LLC, had 449 investors, well over the limit of 100 investors an S corporation may have.

Most S corporations in the United States are smaller companies, but large S corporations are not uncommon, according to specialists. Congress has steadily raised the ceiling on the number of shareholders a private company may have to qualify, with passage of the most recent increase, from 75 to 100, coming in 2004. The Tribune Co., which owns the Los Angeles Times, the Chicago Tribune, and the Chicago Cubs, converted recently.

Loporchio said under the new structure the Johnson family will still own 49 percent of the company, with the remainder in the hands of employees, the same as before. He declined to discuss the potential savings but said the change to an LLC won't have an impact on its mutual funds business, its relationship with clients, or its headquarters location.

Loporchio added, "It's important to note Fidelity intends to remain a private company. We're well capitalized and our liquidity is strong. We believe that being private provides us with the greatest flexibility to reinvest in the business."

The Oct. 15 filing lists the two best-known Johnson family members as holding 10 percent or more voting stock in FMR LLC - the company's 77-year-old chairman, Edward C. "Ned" Johnson III, and 45-year-old Abigail P. Johnson, his daughter and company vice chairwoman.

The new structure could save Fidelity hundreds of millions of dollars in tax payments a year, said Robert Willens, a Lehman Brothers tax specialist in New York. A confidential bond offering obtained by the Globe showed that in 2001, the company set aside $623 million to pay federal and state corporate taxes. Fidelity declined to discuss its payments.

Fidelity's plans have previously raised concerns about its tax contribution in Massachusetts, where S corporations pay a 4.5 percent state tax, compared to the usual 9.5 corporate tax. Anthony DeGregorio, chief counsel for the state Legislature's Joint Committee on Revenue, said the company's size means its effective rate might be higher under state rules that govern the largest S corporations. Most S corporations pay no federal corporate taxes on their profits.

The restructuring is only the latest change underway this year at Fidelity. Edward C. Johnson III has shuffled executives this year and brought in a surprise pick as president, Rodger Lawson. Lawson launched a broad reorganization in September and also has stressed cost controls. This week, the company sent layoff notices to about 200 people, though it has added more than 4,000 jobs worldwide this year.


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Correct_Surround_351 t1_j9oetor wrote

The general admission tickets, commonly referred to as “lawn” tickets only give access to the grey lawn area at the back on the map. “Pit” tickets are much more expensive and usually hard to find unless you pay crazy prices from resellers. The pit is also general admission, as there are no seats, but they are very different than lawn tickets.

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ZaphodG t1_j9oeska wrote

Reply to comment by warlocc_ in Mass RMV by KinkotheClown

No. The queue when you make an appointment is pretty short. I’ve never waited more than 20 minutes and the seating area was 1/3 full. I know I can get through the Registry in less than an hour.

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