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Thursday, March 4, 2010

Liberty Mutual sets Hub expansion

I sent this letter to Mr. Edmund Kelly CEO of Liberty Mutual today.

I hope you will publicize it.

Since 1964 I have been a policy holder and owner of Liberty Mutual. I am distressed that at this difficult time for our cities and the Commonwealth our company is seeking $16M in tax relief from the City of Boston to help fund the expansion of our head office.

Think about the opportunity cost of that tax relief to the city in terms of teacher salaries, help to the disadvantaged, policing, and maintenance of the city's infrastructure.

I am ashamed that a profitable company like ours should come begging to the city which is facing major financial constraints. We need to pay our fair share. We had earnings of $259 million in the last quarter alone. We can afford to do the right thing.

I hope you will withdraw your request. It is the responsible thing to do.

Sent to Boston Globe

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