They really had nothing much to talk about, given that Albany called off the proposed tax on New York-based hedge fund managers who live out of state, i.e. the impetus for Connecticut governor Jodi Rell’s invitation to an ‘intimate dinner’ in Darien, but damn it, girlfriend was having her night. At 5:30 last evening, Rell came in “through the back door” at The Water’s Edge and stuffed crab cakes, shrimp, fried calamari and filet mignon down the throats of 15 city-based financial firms’ representatives while she made her pitch. It’s unclear on what exactly her talking points were, or what else she’s got up her sleeve**, but at least one guy, perhaps feeling used and abused by Governor Paterson et al, is in the bag.
“It’s nice to be wanted,” said Brett Cohen of JGB Capital, located on Madison Avenue.
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In announcing that Albany would not go ahead with the proposed plan to tax New York-based hedge fund managers who live out of state, David Paterson probably thought he was taking the wind out of Connecticut Governor Jodi Rell’s sails. Rell had previously invited a group of investing professionals to a “personal dinner” in Darien at which, she wrote breathlessly, they would have “much to discuss.” Well David thought wrong. Despite not really having anything to talk about anymore re: “how much New York sucks” and how “CT will treat you fellas right,” the dinner is reportedly still on and not just that, but Tim Selby, president of the New York Hedge Fund Roundtable has chosen to throw Jodi a bone and RSVP yes. “The governor was kind enough to extend the invitation and I think we would be remiss to not meet with her to hear what she has to say.”
As has been previously mentioned, Connecticut Governor Jodi Rell wants a piece of New York-based hedge fund managers who don’t reside in the state. Earlier in the month she saw an opening when Albany proposed laying a $50 million tax on those managers only doing business in the state and she pounced. She started off by sending them a “simple yet heartfelt message” (which was “Connecticut welcomes you”). She then upped the ante last week by inviting them to not just a steak dinner but “an intimate dinner” (yes, intimate, now). “We have much to discuss! The meeting will be intimate, direct and private,” she said, maybe overselling. She set the date for August 2 and while it wasn’t clear whether anyone had RSVP’ed, Rell could just feel it was going to be a big night. Now, because he is a jerk, David Patterson has all but ruined Rell’s plans. Continue reading »
