UTC Exec. Gives Malloy "Thumbs Up" For Improving Business Climate

Gregory J. Hayes, the prominent executive who rattled the political establishment a year ago by telling Wall Street that "anyplace outside of Connecticut is low cost" when it comes to doing business, gave a thumbs up Tuesday night to the new governor's approach to finance and economic development.

Gov. Dannel P. Malloy shared a stage at the University of Hartford with Hayes, the chief financial officer of United Technologies Corporation, who says he still is surprised by how his remarks to business analysts infuriated and embarrassed some politicians, while winning praise from others.

An unapologetic Hayes said he was stating the obvious.

"It's kind of like saying the sky is blue, and then everybody all of a sudden steps back and says, 'Oh, my God, the sky is blue,'" Hayes said.

Hayes said Connecticut remains a high-cost place to do business, along with many other states, but overall he was a more upbeat analyst Tuesday night at a Hartford Courant Key Issues Forum, praising Malloy's initial efforts to stabilize the state's finances and improve its business climate.

"What the governor is doing is absolutely the right thing, and that is saying the state of Connecticut is open for business," Hayes said after the forum. "And we're going to support him in those efforts. We're not going to agree on everything with the governor, but for the most part we think he's on the right track."

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