At the end of March, Mayor Michael Pavia called an impromptu press conference to make the announcement that many in the city had long been expecting. Joined at a table by Carl Kuehner, the CEO of Building and Land Technology, Pavia proclaimed that, after months of tough negotiations, his administration and the Harbor Point developer had finally reached a deal to bring Bridgewater Associates, the world's largest hedge fund, to Stamford...As all the parties, including a senior executive from Bridgewater, posed smilingly for photos, the deal between the mayor and Kuehner, for all purposes, seemed to be done...Yet three months later, the license agreement outlining the conditions of BLT's use of city property for the boatyard as well as its infrastructure contributions, is yet to be finalized. Without the critical document, neither the new boatyard nor Bridgewater can move forward in the city approval process. As of last week, there was no indication of any progress in the dialogue between the two sides. The delay has spurred speculation within the city's development community about Kuehner's strategy, prompting questions about whether the hedge fund has changed its plans, possibly weighing a new location or perhaps staying put in Westport. "It's curious," said one well-informed observer. Like others, he stressed that any talk was just conjecture and that any changes to the project would likely be a closely guarded secret kept by Kuehner and Ray Dalio, the founder of Bridgewater. But he expressed bewilderment at the sudden loss of momentum for a project attached with significant economic stakes. [Stamford Advocate, earlier]
Ray Dalio Loves It When His Employees Tell Him He Sucks
In fact, he encourages it.