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Rating:Abby Johnson Apologizes to Mass. Gov. Not Rated 4.0 Email Routing List Email & Route  Print Print
Friday, March 25, 2011

Abby Johnson Apologizes to Mass. Gov.

News summary by MFWire's editors

It looks like Fidelity's [see profile decision to move 1,100 jobs out of Massachusetts is hurting more than the local economy.

Governor Deval Patrick met with Fido scion Abby Johnson yesterday for 45 minutes yesterday to discuss the move, The Boston Globe reports. Afterwards, Patrick descibed the meeting as "fulsome and candid," adding that Johnson had apologized to him for telling him of the move while he was away in England, but said "that decision is made, had been made some time ago, and is not reversible."

Patrick further admitted that he considers Fidelity to be "a Massachusetts icon" and felt some "wounded pride" over the company's decision to move multiple jobs to New Hampshire and Rhode Island. For her part, Johnson discreetly characterized her encounter with the governor as a "very nice meeting,".

Fidelity executives are bracing for a second round of meetings with state officials next Tuesday as the Massachusetts Senate gets ready to grill them on tax breaks that the firm received back in 1996 as an incentive to keep mutual fund jobs in-state.  

Edited by: Hung Tran


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