CFA Seattle Chapter
Was informed by Seattle Mayor candidate, Elizabeth Campbell, that from the Seattle Times reporter the Current Seattle Mayor Nickells wants to pay Russell Investments from Tacoma to relocate to Seattle. The amount of $250,000 was mentioned. Time frame for this value of money was not indicated.
I am an Enrolled Agent and also have a dormant CFP (due to not being able yet to get around to paying the yearly dues). I prepare income tax returns in Lynnwood, Washington. I did notice the CPE education framework which you have available and I should be taking advantage of this.
Elizabeth Campbell disagrees with the Mayor in giving $250,000 to Russell Investments. She believes that if they would like to move to Seattle they can.
She believes that reducing the cost of operations of government and not increasing them should be the objective of government.
In Seattle, employing the current domestic citizens and other legal immigrants should be the objective of a government. By making things more civilized for the current legal citizenry and residents she believes we can make an environment more conducive to other companies then deciding to move or to make their home base of operations inside of the City of Seattle. The incentives for one company to come to Seattle do not outways the needs and desires of the current residents and citizens.
Knowing that your membership for the Seattle Chapter is 600 members and your base of operations is in Seattle I would agree with Russell Investments that the Pacific Northwest’s financial infrastructure is indeed centered in Seattle and not centered in Tacoma. I believe that Russell Investments should relocate and would relocate on their own free will to Seattle if the cities infrastructure is better than Tacoma’s.
You, the CFA Society of Seattle, I believe, have worked hard and diligently to create a locate certified financial advisors community and society which rivals other national societies. I have also thus noticed that Tacoma does not have by itself a CFA society.
Please inform us if this is not incorrect.
Are there any members in your chapter who are from Tacoma as well. What is the number of CFA members that work for Russell Investments. Is Russell Investments dislocated from the other society members and thus the strength in professional correspondence is not as readily available.
I also noted that one of your former Presidents had $2 Billion in Assets under management and this could directly compete with potential employees and capital acquisitions from investors.
Again, Elizabeth Campbell believes that making a government more streamlined and an infrastructure more conducive to the citizenries needs as a whole is the correct and best way to achieve everyones goals and desires. An artificial catapult for one company could weaken the current accomplishments of the current citizens and residents.
I personally believe that this move from Tacoma to Seattle will only be an even swap of $s for all concerned and would not have any Economic Stimulus impact. The definite non-gainer of economic activity would be the Port of Seattle. From Tacoma and from Seattle the airfare travel will be equal. No stimulus here. The only advantage might be in Seattle’s use of the RTA train from Sea-Tac to downtown Seattle. The use of Seattle’s downtown conference and hotel community would have an impact. Seattle would be a better financial climate for Russell Investments but what would we get for $250,000 in exchange. They probably would come here anyways.
Keith Ljunghammar, EA
Elizabeth Campbell 4 Mayor, Treasurer