Black & Decker gone; GBC tries to find bright site
In an email to members, Greater Baltimore Committee's Don Fry says Black & Decker's decision to sell itself to Stanley Works, with the combined corporate headquarters in Connecticut, is not a reflection on Maryland's business climate.
For the record, even with the loss of Black and Decker's headquarters, Maryland’s remaining six Fortune 500 headquarters are one more than our state had four years ago in the boom year of 2006. Thirty states have fewer Fortune 500 corporate headquarters than Maryland.My point is: a state’s business climate is reflected in many more economic outcomes than simply the number of its Fortune 500 headquarters, so let’s resist the temptation to become fixated on this one measurement. It would be far more constructive for Maryland business leaders and elected leaders to achieve a consensus on what, specifically, are the characteristics of a good business climate and fashion our policies around that consensus to ensure that Maryland is optimally competitive and economically successful.
Comments
I don't disagree. It's important to examine the big picture and overall outcomes of the Baltimore business community. However, that doesn't mean the community should ignore the bottom up picture. The loss of a nearly century old profitable corporation will have far reaching effects: for a change, let's pay attention to what happens in the months after the merger. Follow what happens to the B&D area employees, the retirees, the business services companies, the coffee shops, and the community charities connected with Black & Decker post merger. Who is better off? Who is not? Was it a good merger? Is the combined corporation a more profitable organization for stockholders? Who were the big winners? Who were the biggest losers? These are all very important questions to analyze.
Deb Hosey White is the author of Pink Slips and Parting Gifts, a business novel inspired by the merger of The Rouse Company and General Growth Properties.
Posted by: Deb Hosey White | December 22, 2009 11:43 PM