Life, Happiness And The Pursuit Of Liberty Mutual
Money can’t buy you love (and liberty). Or can it?
Boston officials popped the bubbly and broke out the cigars when Liberty Mutual announced plans to grow its global headquarters in Beantown, in part by acquiring the Salvation Army headquarters building at 147 Berkeley St. in Boston. They said the plan will create 1,100 new jobs and generate more than $50 million in new tax revenue for the city.
We shared in the excitement. The Teller even sat through last week’s BRA meeting where the board unanimously supported the proposal to declare Liberty Mutual’s new space as an "economic opportunity area."
Former Boston City Council President Lawrence DiCara went to bat for the insurer, saying the former Salvation Army building is "blighted and decadent" and in need of special attention for redevelopment.
Officials shed a tear over Liberty Mutual being the last Fortune 100 Company with its headquarters in the Hub, but have no fear; it seems Liberty will be here for the long haul. Execs at the insurance company seem to love Boston, and its mayor, especially.
Mayor Thomas Menino, who was among those gloating in the news, said creating new jobs is "my focus." The cynic in us says there may be some selfish interest here.
With a little digging, we found while Menino campaigned for a historic fifth term, Liberty Mutual employees poured their hard earned dollars into to the mayor’s re-election campaign coffers. Almost $5,000 in donations were given by Liberty Mutual employees between July 1, 2009 and Sept. 1, 2009 – which is coincidentally the same period of time Liberty spent closing on two parcels of land in Back Bay, including the Salvation Army property.
The Teller scoured the state Office of Campaign and Political Finance files and found none of the gifts were above $500 (the limit a person can contribute per calendar year), so it’s not an illegal move, and probably a tempest in a teapot when it comes to Menino and his chums.
Still, we can’t help but grin when Edmund F. Kelly, Liberty Mutual’s chairman, president and CEO (who threw in $500) publicly thanks Menino for "working so hard and creatively with Liberty Mutual to make this investment in Boston and its future economically attractive."
Menino is taking those praises all the way to the bank!
Livin’ La Vida Local
Cambridge Savings Bank sure does know how to show a lady a good time.
The bank celebrated its 175th birthday by giving away a "Harvard Square Getaway," a phrase riddled with humorous contradiction for Boston-dwellers like The Teller.
As you might have noticed, the Teller is occasionally given to snark (it’s true!), and so geared up immediately to poke fun at this "glamorous vacation package" [quotes and word choice ours, meant to convey sarcasm], but then got a look at the details.
A night at the Charles Hotel? Dinner at Harvest Restaurant? That place is, you know, sort of out of our budget, but its menu looks delicious. Put that together with the free passes to Harvard art museums, a Harvard tour, and gift certificates to local shops – many of which are also a wee pricey for the likes of us – and it starts to look like a decent little weekend.
Catherine Nunes, a Burlington resident, apparently won the grand prize, which was to be awarded to a "member of the public."
It does seem like an awful lot of scratch to spend on someone who’s probably already a customer of the bank, although this Harvard Square-themed glitz and glamour will likely assure her patronage of that establishment for life. Maybe this is the perfect way for community banks to keep customers from leaving for big banks – just wine and dine each one individually.
So … hint, hint to certain banks that currently hold Teller deposits. We’d be pretty happy with a local "vacation" package. Heck, we’d settle for a random dinner in Inman Square or a gift certificate to the Brookline Liquor Mart. A night at the Midtown Hotel? Dim Sum in Chinatown? We’ll be awaiting your call.
