Eli Lilly IGM | 15 Necco Street | Fort Point

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stick n move

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Yea for this one Im definitely waiting until its finished to try to get an opinion of how it looks because I was never a fan of the render but Im holding out hope that in person within its surroundings itll be ok.
 
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North Street

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I am just amazed that it took a company from out of town, not headquartered here, to put this building up. Why couldn’t GE do it? They are a Fortune 500 company and should have created a world class headquarters building in Boston. Instead they renovated some old candy factory. Go figure.
 
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Justbuildit

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North Street said:
I am just amazed that it took a company from out of town, not headquartered here, to put this building up. Why couldn’t GE do it? They are a Fortune 500 company and should have created a world class headquarters building in Boston. Instead they renovated some old candy factory. Go figure.
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See: https://www.bostonglobe.com/busines...for-million/wqMzDxkZJVRCrhyNtaQHKI/story.html

Upthread there are original renders of this when it was the GE building, but they drastically reduced their footprint in Boston after they started to fall apart and divested their various business interests. Alexandria bought the site and leased the whole thing to Lilly for their Genetics Medicine Institute.


Take a look at GE's stock price over the last 5 years. They are in really bad shape, and their headcount in Boston will reflect that, as they continue to cut jobs in the area.
 
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DominusNovus

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Justbuildit said:
See: https://www.bostonglobe.com/busines...for-million/wqMzDxkZJVRCrhyNtaQHKI/story.html

Upthread there are original renders of this when it was the GE building, but they drastically reduced their footprint in Boston after they started to fall apart and divested their various business interests. Alexandria bought the site and leased the whole thing to Lilly for their Genetics Medicine Institute.


Take a look at GE's stock price over the last 5 years. They are in really bad shape, and their headcount in Boston will reflect that, as they continue to cut jobs in the area.
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Not only that, they're splitting into 3 different companies. Hopefully at least 1 of them will do well - its an icon of American industrial success.

That makes me wonder, and a very quick search didn't produce a result: will all 3 companies still be HQ'd in Boston? I know that they'll be downsizing, but remaining in the city.
 
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stick n move

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GE aviation is doing very well and producing world class jet engines right here in lynn. GE’s locomotive business, although 51% of the market was still hemmoraging money like crazy for some reason and was sold to wabtec. I dont understand the economics of that, but it supposedly gave them a huge infusion of cash and cut a major lossmaking part of their portfolio.
 
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DominusNovus

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stick n move said:
GE aviation is doing very well and producing world class jet engines right here in lynn. GE’s locomotive business, although 51% of the market was still hemmoraging money like crazy for some reason and was sold to wabtec. I dont understand the economics of that, but it supposedly gave them a huge infusion of cash and cut a major lossmaking part of their portfolio.
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Doing a little digging, it looks like, after healthcare and power are spun off, the aerospace division will be the remaining division in GE. However, the aerospace division HQ is in Ohio, while the corporate HQ is in Boston. Which wins, I don't know. GE Healthcare's divisional HQ is in Chicago, so that'll probably stay there. The power division has multiple HQs, in Paris, Schenectady, and San Fransisco. Might makes sense for them to be HQ'd in Boston, since it will still have multiple divisions.

(I realize this isn't directly relevant to the development here, but hopefully whatever successors do well will stick around in this area)
 
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